UraniumX Announces Flow-Through Private Placement

VANCOUVER, BC / ACCESS Newswire / June 4, 2026 / UraniumX Discovery Corp. (CSE:STMN)(OTCQB:STMXF)(FSE:Q7S) (the "Company" or "UraniumX") is pleased to announce a non-brokered private placement of up to 3,333,333 flow-through shares at a price of $0.15 per FT Share for aggregate gross proceeds of up to $500,000 (each a "FT Share") (the "Offering"). No warrants will be issued to subscribers in connection with the Offering. The Company may increase the size of the Offering to accommodate additional demand.

The FT Shares will qualify as "flow-through shares" within the meaning of subsection 66(15) of the Income Tax Act (Canada). The Company intends to use the gross proceeds from the sale of FT Shares to incur eligible "Canadian exploration expenses" that qualify as "flow-through critical mineral mining expenditures" within the meaning of subsection 127(9) of the Income Tax Act (Canada), which will be renounced to the subscribers in an amount not less than the subscription price of the FT Shares, with an effective date no later than December 31, 2026 and to incur such expenses on or before December 31, 2027.

Proceeds will fund the Company's ongoing diamond drill program at the Murphy Lake Uranium Property. The program is currently underway, with the first hole returning visually identifiable pitchblende above the unconformity (see news release dated June 2, 2026), and drilling now advances to test four priority targets remaining across the corridor extended by 1.45 km under the Company-funded MLEM survey (see news release dated May 5, 2026).

Esen Boldkhuu, Chief Executive Officer of UraniumX, commented: "Pitchblende in the very first hole confirmed Murphy Lake as a live, fertile uranium system. This financing puts the drill on four more targets, 5 km from IsoEnergy's Hurricane deposit."

Closing of the Offering is subject to receipt of all necessary corporate and regulatory approvals, including the approval of the Canadian Securities Exchange. All securities issued under the Offering will be subject to a statutory hold period of four months and one day from the date of issuance.

The Company may pay finder's fees to eligible persons in connection with the Offering, in accordance with the policies of the Canadian Securities Exchange.

Spectrometer readings referenced in the Company's news release dated June 2, 2026 are preliminary, are not directly correlated to uranium grades, and are not a substitute for laboratory assay. Assay results are pending.

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