First American Uranium Completes Acquisition of Rare Earth Elements Niobium Properties in the Grenville Province, Quebec

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[{"type":"text","content":" 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 returne...

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