First American Uranium Provides Update on Drivers Behind Uranium Price Rising to 12-Year Highs & "Global Renaissance in Nuclear Power" - Seite 2

In response to the growing global demand for uranium and nuclear power, First American Uranium is advancing its Red Basin Uranium/Vanadium Project in Catron County, New Mexico, USA. Based on the recommendations of the Company's recent NI 43-101 report (see news release from Aug. 30, 2023), the project's updated exploration plan includes 4 potential zones to be drilled that target areas coinciding with 1000+ historic holes drilled by Gulf Oil Corporation (see news release from Sept. 13, 2023).

About First American Uranium Inc.

First American Uranium Inc. is engaged in the business of mineral exploration and the acquisition of mineral property assets in North America. Its objective is to locate and develop economic precious and base metal properties of merit and to conduct its exploration programs on the Silver Lake and Red Basin properties. The Silver Lake property is situated around Goosly Lake and approximately 30 km southeast of the town of Houston, in the Omineca Mining Division, British Columbia. The Company has acquired a 60% interest in a company that indirectly holds a 100% interest in the Red Basin uranium/vanadium mineral claims located in Catron County, New Mexico.

ON BEHALF OF THE BOARD

“Shawn Balaghi”
Shawn Balaghi, Chief Executive Officer

Sources:
1. https://oilprice.com/Alternative-Energy/Nuclear-Power/Uranium-Investors-Bet-Big-On-Nuclear-Renaissance.html
2. https://www.ft.com/content/2a386325-8333-4fb5-ab3f-ab10bbeea6ee

For further information, please contact: Telephone: [phone]

The CSE does not accept responsibility for the adequacy or accuracy of this release.

This press release includes "forward-looking information" that is subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. Forward-looking statements may include but are not limited to, statements relating to the trading of the Company's common shares on the Exchange and the Company's use of proceeds and are subject to all of the risks and uncertainties normally incident to such events. Investors are cautioned that any such statements are not guarantees of future events and that actual events or developments may differ materially from those projected in the forward-looking statements. Such forward-looking statements represent management's best judgment based on information currently available.