American Atomics Announces Amendment to Nuvemco Option Agreement

CSE: NUKE

American Atomics Inc. (the "Company") (CSE: NUKE) announces that it has amended the option agreement dated August 20, 2024 (the "Option Agreement") with Ventura Uranium LLC (dba Nuvemco, LLC) ("Nuvemco"), 1494402 B.C. Ltd. (the "Optionee") and Paul Szilagyi ("PS", and together with Nuvemco, the "Optionors"). The Optionee's obligations under the Option Agreement were assigned to the Company pursuant to an assignment and assumption agreement dated May 8, 2025. The Company and the Optionors have now entered into a sixth amendment agreement (the "Sixth Amendment Agreement") pursuant to which the parties agreed to extend the payment of USD$1,000,000 as required by the Option Agreement until the date that is the earlier of (such date being referred to herein as the "Payment Date"):

• three Business Days following the date on which the Company completes a financing of equity securities with minimum aggregate gross proceeds of no less than USD$3,000,000 (a "Qualifying Financing"); and
  
  
• March 31, 2026.

The Company will also complete the issuance of additional common shares as required by the Option Agreement on the Payment Date.

In consideration of the amendments set forth in the Sixth Amendment Agreement, the Company will:

• pay Nuvemco an additional monthly cash payment of USD$5,000 on the last business day of each month ending the month immediately prior to the month of the Payment Date for an aggregate monthly cash payment of USD$10,000; and
  
  
• following the completion of a Qualifying Financing, reimburse Nuvemco for all invoices related to the property during the option period.

Except as amended by the Sixth Amendment Agreement the Option Agreement remains unamended and continues in full force and effect.

On Behalf of the Board of American Atomics Inc.
"David Mitchell"
CEO & Director

About American Atomics Inc.

"From Rock to Reactor"

American Atomics intends to develop a vertically integrated uranium supply chain across North America - from exploration and extraction to refinement, conversion, and enrichment. Our project portfolio reflects this full-cycle vision, blending near-term production assets with long-term infrastructure buildout.

Cautionary Note Regarding Forward-Looking Statements

This news release includes certain statements that may be deemed "forward-looking statements". All statements in this new release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release.

SOURCE American Atomics Inc.