Consolidated Uranium Strengthens Management Team with Addition of President and Chief Operating Officer

TORONTO, Dec. 02, 2021 (GLOBE NEWSWIRE) -- Consolidated Uranium Inc. (“CUR” or the “Company”) (TSXV: CUR) (OTCQB: CURUF) is pleased to announce that, in line with its corporate strategy, it has appointed Marty Tunney, P.Eng. as President and Chief Operating Officer effective immediately. Mr. Tunney brings a wealth of mining experience having been in the industry for 18 years. As a professional mining engineer, Mr. Tunney has worked for several majors including Inco Limited and Newmont Corporation, and in senior management roles with NewCastle Gold Ltd. (formerly Castle Mountain Mining Company Ltd.) and Solstice Gold Corp. Mr. Tunney worked across multiple provinces and territories in Canada, as well as the Southwestern United States where he successfully permitted projects for exploration and development and was instrumental in moving projects into production. Mr. Tunney also spent several years in capital markets with both an international investment bank and a Canadian bank owned dealer in their global mining team working on transactions of all types and sizes.

CEO Philip Williams stated, “We have a set a strategy in place for advancing existing assets and growing our portfolio. The addition of Marty as President and COO is an important step in our evolution. His technical expertise and capital markets background, especially his experiences in consultation, permitting and development compliments the existing CUR team well.”

“I am thrilled to be joining Consolidated Uranium and look forward to working with such a strong team. We will work to advance the portfolio of projects and build upon the strong foundation that Phil and the group have created over the last 18 months. I firmly believe that we are uniquely positioned to capitalize on the critical role that nuclear power plays in carbon-free energy, and I look forward to increasing shareholder value as the globe transitions to green energy,” stated President and COO Marty Tunney.

In connection with Mr. Tunney’s appointment, pursuant to CUR’s long term incentive plan, the Company has granted him options to purchase 500,000 common shares of the Company and 150,000 restricted share units. The options are exercisable at a price of $2.61 per common share for a period of five years and vest over three years as follows: one quarter vesting immediately, one quarter vesting after one year, one quarter vesting after two years and one quarter vesting after three years. The restricted share units, each of which entitles the holder to receive one common share of the Company, vest over two years as follows: one third vesting immediately, one third vesting after one year and one third vesting after two years. The options and restricted share units are subject to approval of the TSX Venture Exchange.