GoviEx Uranium Completes Arrangement with Tombador Iron Limited

Vancouver, British Columbia--(Newsfile Corp. - November 12, 2025) - GoviEx Uranium Inc. (TSXV: GXU) (OTCQB: GVXXF) ("GoviEx" or the "Company") is pleased to announce the completion of its previously announced plan of arrangement (the "Arrangement") with Tombador Iron Limited (ASX: TI1) ("Tombador"), under the Business Corporations Act (British Columbia), resulting in GoviEx becoming a wholly-owned subsidiary of Tombador and forming a uranium exploration and development company which is expected to be re-instated on or about November 20, 2025 on the official list of the Australian Securities Exchange under the name Atomic Eagle Ltd. with as ticker symbol AEU.

The Arrangement was approved by GoviEx shareholders, warrantholders, and optionholders (collectively, the "GoviEx Securityholders") at a special meeting (the "Meeting") of GoviEx Securityholders held on October 24, 2025. The arrangement was approved by approximately 98.7% of the votes cast by GoviEx shareholders present in person or represented by proxy and entitled to vote at the Meeting, and 99.2% of the votes cast by all GoviEx Securityholders, voting as a class and present in person or represented by proxy and entitled to vote at the Meeting, far exceeding the required two-thirds majority. The final court order from the Supreme Court of British Columbia was received on November 5, 2025.

Pursuant to the Arrangement, each holder of a GoviEx common share (a "GoviEx Share") is entitled to receive 0.2534 fully-paid ordinary shares in the capital of Tombador in exchange for each GoviEx Share held ("Consideration Shares"). The Arrangement also provides for the issuance of replacement options of Tombador to GoviEx optionholders and warrantholders on equivalent economic terms ("Replacement Options").

GoviEx Shares are expected to be delisted from the TSX Venture Exchange and the OTCQB Venture Market effective at the close of business on November 14, 2025. The Company will also apply to cease to be a reporting issuer in all jurisdictions of Canada where it is currently a reporting issuer.

Further details regarding the Arrangement are available in GoviEx's management information circular dated September 10, 2025, which is available on SEDAR+ (www.sedarplus.ca).

Registered shareholders of GoviEx are reminded to complete and return the letter of transmittal, together with their share certificate(s) or direct registration system advice(s), to Computershare Investor Services Inc. (the "Depositary") in order to receive the consideration under the Arrangement. Non-registered shareholders should contact their brokers or custodians for assistance in submitting their shares and receiving the new Tombador shares. Holding statements will be issued to each new holder of Consideration Shares. Holding statements for Replacement Options will also be delivered to GoviEx optionholders and warrantholders.