Global Uranium Announces Successful Completion of Active Remediation at the Northwest Athabasca Property

Completion of Successful Active Environmental Remediation Paves the Way for Near-Term Exploration at the Northwest Athabasca Property

November 26, 2024

Calgary, Alberta — Global Uranium Corp. (CSE: GURN | OTC: GURFF | FRA: Q3J) (the “Company”) is pleased to announce the results of site remediation activities at the Northwest Athabasca Joint Venture project (the “Project”), located on the northwest shore of Lake Athabasca, Saskatchewan. The comprehensive program, undertaken in partnership with Geosyntec Consultants, addressed historical petroleum hydrocarbon (“PHC”) impacts resulting from legacy exploration activities.

Since 2021, remediation efforts at the Project have significantly reduced PHC impacts, with remaining soil contamination limited to small, localized areas. No contamination was detected in groundwater assessments undertaken as part of the remediation, and the remediated site’s environmental risk classification has improved from "Medium Priority" to "Not a Priority for Action" under the National Classification System for Contaminated Sites. The remediation program included soil excavation, monitoring well installations, and comprehensive sampling. It is expected that natural attenuation will allow the site to recover without further action.

“Completing this program underscores the joint venture’s commitment to environmental stewardship and paves the way for further exploration in this prospective region,” said Ungad Chadda, CEO of Global Uranium Corp.

Monitoring of the site will continue to ensure that natural recovery adequately addresses the remaining contamination. No additional active remediation is planned, reflecting the low-risk profile of the remaining impacts. Building on this success, Global continues to advance plans for a winter drilling program to explore high-priority targets with the aim of further unlocking the Project’s potential.

About Global Uranium Corp.

Global Uranium Corp. focuses on exploring and developing uranium assets primarily in North America. The Company currently holds key uranium projects: the Wing Lake Property in the Mudjatik Domain of Northern Saskatchewan, Canada; the Northwest Athabasca Joint Venture with Forum Energy Metals Corp. and NexGen Energy Ltd. in the Northwest Athabasca region of Saskatchewan, Canada; and the Great Divide Basin District Projects, the Gas Hills District Projects, and the Copper Mountain District Projects in Wyoming, USA.

On Behalf of The Management Team

Ungad Chadda

CEO

587-330-0045

info@globaluranium.com

Forward-Looking Statements

Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company’s current belief or assumptions as to the outcome and timing of such future events. In particular, this press release contains forward-looking information relating to, among other things, the  intention to continue exploration efforts on the Project with the aim of further unlocking the Project’s potential; and the expectation that natural attenuation will allow the site to recover without further action.

Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information, including, in respect of the forward-looking information included in this press release, the assumption that: exploration at the Project will continue; and that further active remediation efforts with respect to the known contamination at the Project will not be required.

Although forward-looking information is based on the reasonable assumptions of the Company’s management, there can be no assurance that any forward-looking information will prove to be accurate. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include the risk that exploration of the Project may not continue, whether as a result of a lack of financial resources, a failure to receive the requisite permits or approvals, the discretion of management of the joint venture or otherwise; the risk that exploration of the Project will not progress as currently contemplated and, that, even if exploration does proceed as anticipated, such exploration activities may not achieve their anticipated outcomes; risks inherent in the exploration and development of mineral projects, including risks relating to receiving requisite permits and approvals, changes in project parameters or delays as plans continue to be redefined, that mineral exploration is inherently uncertain and that the results of mineral exploration may not be indicative of the actual geology or mineralization of a project; the risk that mineral exploration may be unsuccessful or fail to achieve the results anticipated by the Company; risks related to joint ventures and the other risks and factors identified by the Company in its continuous disclosure filings, filed on the Company’s SEDAR+ profile at www.sedarplus.ca. 

The forward-looking information contained in this release is made as of the date hereof, and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

The Canadian Securities Exchange has not reviewed, approved, or disapproved the contents of this press release.