The Kurupung Project is anchored by a substantial historical mineral resource estimate that provides a highly secure foundation for our upcoming resource verification and expansion initiatives. Calculated at a 0.03% U₃O₈ cut-off, the project holds 10.591 million contained pounds at an average grade of 0.072% U₃O₈ within the Indicated category. Additionally, it features 10.047 million contained pounds at an average grade of 0.067% U₃O₈ classified as an Inferred mineral resource. These calculations are highly localized, as they are strictly limited to just four structural zones on the eastern property area—specifically the Aricheng North, Aricheng C, Aricheng West, and Aricheng South deposits. Because this historical estimate was derived using a conservative uranium price of US$55 per pound, there remains considerable baseline structural upside to expand the resource numbers upon re-evaluation.

The historical resource base is distributed across four highly localized deposit areas within the eastern licensing tract, each presenting solid baseline metrics. The Aricheng South deposit represents the largest component of the historical Indicated resource, holding 4.757 million pounds at an average grade of 0.068% U3O8. Aricheng North holds 2.435 million pounds Indicated at an exceptional grade of 0.093% U3O8, alongside 0.974 million pounds Inferred. Aricheng West contributes a massive Inferred resource of 5.376 million pounds at 0.061% U3O8, paired with 1.902 million pounds Indicated. Finally, Aricheng C anchors the central tier with 1.497 million pounds Indicated and 2.717 million pounds Inferred, creating a well-rounded and structurally contiguous resource footprint.

The geology of the Kurupung Project extends significantly beyond the boundaries of the current resource, presenting a clear market disconnect regarding the asset’s scale. All uranium mineralization encountered to date is hosted within demagnetized shear zones identifiable as distinct magnetic-low corridors that trend from east to west across the property. Airborne magnetic data has identified extensive large-scale structural corridors where a 5km gap along each magnetic corridor remains completely undrilled. Furthermore, previous operators completed over 14,000 meters of high-grade intersections that are completely excluded from the historical resource estimate. These intersections span eight additional drilled follow-up targets that show continuous mineralization starting directly from the surface.

The Kurupung Project features a highly structured, shear-hosted mineralization system that is deeply tied to a regional-scale magmatic body comprised predominantly of granites and granodiorites. The exploration targets are directly associated with structures that have been heavily mineralized by late-stage magmatic or metasomatic uranium-bearing fluids. Crucially for modern exploration tracking, this uranium mineralization is securely hosted within demagnetized shear zones that are clearly identifiable as magnetic-low features within airborne magnetics datasets. This distinct signature forms predictable east-to-west corridors across the property, allowing the technical team to follow precise ore shoots, such as the multiple sub-parallel structures extending below the existing historical deposits.

A major near-surface opportunity for rapid resource expansion involves the mineralization hosted within the saprolite layer, which was historically overlooked. The original 2009 historical mineral resource estimate calculated over the Aricheng North and Aricheng South deposits explicitly excluded the mineralization potential of the shallow saprolite ore material. Technical reviews and geological mapping indicate that seven hard rock targets and one near-surface saprolite target show strong uranium intercepts from historical scout drilling. Because these zones sit directly above or adjacent to the known deposits, shallow drilling and trenching campaigns provide an immediate, low-cost path to incorporate this mineralized saprolite material into a modernized mineral resource estimate.

U92 Energy Corp possesses an exceptional financial advantage due to the predictable geology of the asset, which is hosted within highly competent hard rock granite. This structural predictability allows for incredibly efficient capital deployment and low-risk exploration. The asset is highly de-risked by the 88,000 meters of diamond drill core already physically stored on-site, providing immediate geological data and representing massive sunk-cost value. Historical work demonstrates excellent exploration economics, with discovery costs tracking at USD $739,000 per million pounds discovered at Aricheng North and dropping to just USD $310,000 per million pounds at Aricheng C. Moving forward, the company projects a highly competitive forward discovery cost of USD $0.31 per pound of U3O8, requiring an estimated budget of only USD $9.3 million to grow the total resource base up to 50 million pounds through to a Bankable Feasibility Study.

Reviewing the asset’s drilling history provides clear evidence of how a refined geological understanding systematically lowers discovery costs. When exploration first began at the Aricheng North target, operators completed 115 holes totaling 18,000 meters of drilling at a cost of USD $2.52 million to discover 3.409 million pounds of uranium, yielding an initial discovery cost of USD $739,000 per million pounds. By the time drilling reached the fourth target at Aricheng C, the team successfully utilized their advanced understanding of the regional magnetic-low corridors. Consequently, they required only 34 holes across 9,350 meters of drilling—costing USD $1.309 million—to discover a larger resource of 4.214 million pounds, dropping the discovery cost significantly to just USD $310,000 per million pounds.

The company is moving forward with a highly disciplined, milestone-driven work program designed to unlock value throughout the current year. Field operations are transitioning through clear tactical stages, beginning with camp construction, infrastructure development, and the detailed reorganization and preparation of existing core for sampling. The primary catalyst for the year is a 5,000-meter Phase 1 diamond drill program scheduled to commence field operations in the second quarter. Technical work will run continuously as core logging, sampling, and shipping take place, providing steady news flow as assay results are systematically returned and released. This field campaign builds directly toward a final year-end goal, where our technical team will complete geological interpretations and model updates to deliver a pit-constrained update to the historical NI 43-101 resource estimate.

The company is guided by an experienced management team and board with a proven track record of discovery, project execution, and creating significant shareholder value. Led by CEO and Executive Chairman Adam Clode, the leadership group features world-class uranium expertise, including Non-Executive Director Ross McElroy, who brings a celebrated history of major discoveries from prominent uranium organizations like Fission. The board also includes Non-Executive Directors Ambassador Otto J. Reich and Jonathan Wiesblatt, adding deep international regulatory experience and capital markets depth. Technical governance is rigorously maintained by Dr. Richard Spencer, an independent Qualified Person under NI 43-101 with extensive global exploration experience across major resource companies including U3O8 Corp, Equinox Minerals, and Aurania Resources.

U92 Energy Corp maintains a highly disciplined capital structure that ensures strong corporate alignment and clear financial health. The company has 43,860,488 common shares issued and outstanding, paired with 3,534,679 options and 10,410,640 warrants, resulting in a fully diluted share count of 57,805,807. Based on a share price of $0.30, this translates to a tight market capitalization of approximately $13.15 million and an enterprise value of $11.35 million. Demonstrating immense confidence in the project’s long-term scale and execution strategy, management and corporate insiders tightly hold 22% of the outstanding common shares, aligning leadership directly with the interests of incoming public shareholders.

When evaluated against tier-one comparative pre-construction projects, the Kurupung Project presents a compelling growth opportunity with unique development advantages. Unlike Paladin’s Michelin deposit in Canada or IsoEnergy’s Coles Hill in the United States, which have been drilled down to deep depths of over 850 meters and 450 meters respectively, Kurupung’s historical mineral resource has only been drilled to a shallow maximum depth of 150 to 200 meters. Despite this shallow historical focus, Kurupung boasts a superior average asset grade of 0.07% U3O8, outperforming Coles Hill’s historic resource grade of 0.052% U3O8. Additionally, while Michelin and Coles Hill face deeper physical constraints, Kurupung offers immediate near-surface exploration potential with eight distinct surface-mineralized targets and massive unexplored gaps along its primary corridors.

Guyana is rapidly establishing itself as an economic powerhouse and a premier global resource partner, standing as the second fastest-growing economy in the world with an exceptional GDP growth rate of 19%. The country features a highly stable and pro-mining regulatory environment where the mining and oil and gas sectors heavily support export earnings and regional employment. This favorable ecosystem has attracted billions of dollars in major commodity investments from leading international resource players. Operationally, U92’s prospecting licenses are fully active and in excellent standing. The project area benefits from year-round drilling capabilities, a robust localized water supply from underground workings and river systems, and close proximity to four operating mining assets located within 180km of the site.

The Kurupung Project encompasses a significant land footprint consisting of two primary Prospecting Licenses that cover a total area of 92.2 square kilometers. These mineral concessions are active, fully compliant, and held in excellent standing with the relevant regulatory authorities in Guyana. Maintaining these strategic assets requires a highly manageable financial commitment, with total annual area charges amounting to USD $36,000 for the combined licenses. Operationally, the project location offers severe logistical advantages, including year-round drilling and exploration capabilities supported by a reliable, localized water supply sourced directly from existing underground workings and the surrounding river system.

U92 Energy Corp is advancing its core asset during an exceptional period of structural change across the global energy landscape. The uranium sector is experiencing a pronounced, long-term supply deficit driven by a combination of years of underinvestment in global exploration and the rapid, widespread expansion of clean nuclear power generation worldwide. Governments and major industrial corporations are increasingly turning to nuclear energy as an indispensable source of baseload, zero-emission electricity to meet aggressive global decarbonization targets. This rising global demand, paired with finite geopolitical supply sources, highlights the immense prominence of secure, strategic resource partners like Guyana and creates an ideal macroeconomic backdrop for high-grade, capital-efficient assets to capture market value.