First American Uranium Inc. Completes Acquisition of Rare Earth Elements Niobium Properties in the Grenville Province, Quebec
Vancouver, BC, Oct. 16, 2025 (GLOBE NEWSWIRE) -- First American Uranium Inc. (CSE: URM) (FSE: IOR) (OTCPK: FAUMF) (“First American Uranium”, or the “Company”) is pleased to announce that, further to its news release dated October 7, 2025, it has completed the acquisition (the “Acquisition”) of a 100% legal and beneficial interest in certain mineral properties comprising a strategic land package in the Grenville Province of Quebec (the “Properties”), pursuant to the terms of a property purchase agreement (the “Agreement”) dated October 6, 2025, among the Company and a group of arm’s length vendors (the “Vendors”).
Under the terms of the Agreement, the Vendors transferred to the Company a 100% interest in the Properties, free and clear of all encumbrances. As consideration, the Company issued an aggregate of 4,020,000 common shares (the “Consideration Shares”) at a deemed issuance price of $0.85 per Consideration Share to the Vendors upon closing. The Consideration Shares will be allocated among the Vendors in varying amounts, corresponding to their respective ownership interests in the Properties.
The Consideration Shares will be issued pursuant to exemptions from the prospectus requirements of applicable Canadian securities laws and will be subject to a statutory hold period of four months and one day from the date of issuance.
This Acquisition marks First American Uranium’s initial entry into Quebec, regarded as a mining-friendly jurisdiction, with the Properties located in the Grenville Province – a region that the Company believes is recognized for its elevated number of rare earth elements (“REE”), niobium (“Nb”), and nickel-copper (“Ni-Cu”) occurrences.
The Properties host multiple high-priority showings, including;
- Blanchette-1 (REE & Ni-Cu): A grab sample collected by Quebec government geologists returned 2.7% Total Rare Earth Elements (TREE), including 4,090 ppm neodymium (Nd). On this same outcrop, A nickel-copper quartz vein sample returned 0.25% Cu and 0.1% Ni, hosted in a highly deformed paragneiss associated with gabbro boudins.
- Blanchette-2 (REE): A grab sample collected by Quebec government geologists returned 0.17% Total Rare Earth Elements (TREE), including notable concentrations of Ce and Nd, as well as elevated Zr, Nb, Th, and Y.
- Bardy (REE): A grab sample collected by Quebec government geologists returned 0.68% TREE, including 1,150 ppm Nd, hosted in a granitic pegmatite 40cms to 4m wide.
- Seigneurie Deposit (Nb-REE): Originally drilled by SOQUEM in 1978, the area hosts pegmatites up to 50 metres wide, which remain largely unexplored and unassayed for REE and Nb. In 2010, a local prospector collected grab samples, one of which returned 3,190 ppm Nb and 4,031 ppm Total Rare Earth Elements (TREE).
In addition to the 39 claims covering 2,240 hectares acquired under the Agreement, the Company has separately staked an additional 480 claims covering 27,696 hectares in and around the Properties. Collectively, this land package now totals 519 claims covering 29,936 hectares.
Niobium and rare earth elements are critical for applications in defense and aerospace, including jet engine superalloys, hypersonic missile systems, rocket nozzles, and advanced super conducting technologies such as qubits for quantum computing. Securing these resources in stable, North American jurisdictions is increasingly important as governments work to strengthen domestic supply chains.
Though the Company has not directly applied for any specific funding programs or grants, it intends to explore non-dilutive funding opportunities with agencies such as the U.S Department of Energy, Department of Defense, and Export-Import Bank of the United States (EXIM). These opportunities could help accelerate development in alignment with U.S critical mineral policies and support the Company’s potential contribution to U.S defense and energy security initiatives.
“This acquisition marks an important step for our company as we look to deliver critical minerals and rare earth elements supply into North America,” said Murray Nye, Chief Executive Officer of First American Uranium. “These Grenville Province Properties allow us to extend our strategy into the critical minerals space in a time where the need to secure domestic supply chains has never been greater. Our team is excited to work with all stakeholders to advance the exploration and development of these assets and bring to market a critical minerals company for Canada.”
The Acquisition strategically expands the Company’s exploration portfolio within a highly prospective region of the Grenville Province. The addition of these assets is expected to strengthen the Company’s growth pipeline, enhance its regional presence, and create long-term opportunities for shareholder value through ongoing exploration and development.
For additional details regarding the Properties, please see the Company’s news release dated October 7, 2025, available under the Company’s profile on www.sedarplus.ca.
ABOUT FIRST AMERICAN URANIUM INC.
First American Uranium Inc. is a North American mineral exploration company focused on the acquisition and development of precious, base, and critical mineral assets. Its portfolio includes the Silver Lake property in British Columbia’s Omineca Mining Division and a recently acquired land package in Quebec’s Grenville Province. The Quebec properties add exposure to rare earth elements (REE), niobium (Nb), and nickel-copper (Ni-Cu) occurrences, expanding the Company’s footprint into critical minerals that are strategically important for energy and defense applications.
ON BEHALF OF THE BOARD OF DIRECTORS:
Murray Nye
Chief Executive Officer
1055 West Georgia Street, Suite 1500
Vancouver, BC V6E 0B6
Canada
For further information, please contact:
Murray Nye, CEO
Email: finance@firstamericanuranium.ca
Phone: +1 (416) 300-7398
CSE:URM
OTCPK:FAUMF
FSE:IOR
This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States. The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any applicable state securities laws, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws, or pursuant to an available exemption from such registration requirements.
Forward-Looking Statements
This news release contains “forward-looking statements” within the meaning of applicable Canadian securities legislation. All statements in this release, other than statements of historical fact, that address events, results, outcomes or developments that the Company expects, anticipates or intends to occur in the future, or that otherwise reflect management’s expectations or beliefs about future events, are forward-looking statements. Forward-looking statements are generally, but not always, identified by the use of words and phrases such as “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential,” “opportunity,” “strategy,” “target,” “forecast” and similar expressions, or statements that events, conditions or results “will,” “would,” “may,” “could,” or “should” occur or be achieved.
Forward-looking statements in this release include, but are not limited to: (i) statements regarding the Properties and their mineral prospectivity; (ii) the Company’s planned exploration, development and evaluation activities on the Properties; (iii) the anticipated benefits of the Acquisition, including the expansion of the Company’s exploration portfolio, increased exposure to critical mineral targets, and the potential to enhance long-term shareholder value; and (iv) the potential for the Grenville Province to host significant rare earth element, niobium, nickel-copper or other critical mineral deposits. Such forward-looking statements are based on the Company’s current plans, intentions, expectations and beliefs and are subject to certain assumptions, including, without limitation, assumptions that required regulatory approvals will be obtained in a timely manner, that financing will be available on reasonable terms, and that exploration results will continue to support the prospectivity of the Properties.
Although the Company believes the expectations expressed in such forward-looking statements are reasonable, such statements are not guarantees of future performance or outcomes and actual results may differ materially from those expressed or implied in the forward-looking statements. Factors that could cause actual results to differ materially from those anticipated include, but are not limited to: the timing and receipt of required regulatory approvals; changes in commodity prices and market conditions; the availability of capital and financing on acceptable terms; general economic, business and political conditions; risks inherent in mineral exploration and development, including operational risks, geological uncertainties, environmental risks and accidents; changes in government regulation or policy; and the speculative nature of mineral exploration and development. Additional information regarding risks and uncertainties faced by the Company is available in the Company’s public disclosure record on SEDAR+ (www.sedarplus.ca).
Readers are cautioned that forward-looking statements are not guarantees of future performance, and undue reliance should not be placed on them. The forward-looking statements contained in this release are made as of the date hereof and are based on information currently available and management’s beliefs, estimates, expectations and opinions at that time. Except as required by applicable securities laws, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Qualified Person
The scientific and technical information contained in this news release has been prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”). Clyde McMillan, P.Geo., a consultant to the Company and a Qualified Person as defined under NI 43-101, has reviewed and approved the technical information contained herein.
The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release and has neither approved nor disapproved the contents of this press release
© 2025 GlobeNewswire, Inc. All Rights Reserved.
