URZ3 completes name change from Nevada Exploration

Mr. Mark Kolebaba reports

NAME CHANGE OF NEVADA EXPLORATION INC. TO URZ3 ENERGY CORP. COMPLETE

URZ3 Energy Corp. has completed the company's name change from Nevada Exploration Inc. The company's securities now trade under the symbol URZ on the TSX Venture Exchange. URZ3 Energy currently holds a 35,467-hectare uranium property in the Athabasca basin in Saskatchewan. Over the coming weeks, the company will focus on acquiring additional uranium properties in North America.

The core gold assets in Nevada and the proprietary groundwater exploration methodology hold significant value and will be retained for future considerations.

About the company's name and symbol

In late 2005, Uranerz Energy Corp. was founded, engaging Glenn Catchpole and a team of uranium-sector professionals, including Dr. Gerhard Kirchner as a director, to build an American-based uranium production company. In 2006, the shares of Uranerz Energy were listed on the NYSE American under the symbol URZ. Uranerz successfully explored, permitted, built and operated its Nichols Ranch ISR (in situ recovery) uranium project in Wyoming. Uranerz Energy was acquired by Energy Fuels in 2015 in a $350-million business combination, creating one of the largest producers of uranium in the United States.

In 2017, Mr. Catchpole, along with two other former Uranerz executives, Sandra MacKay and Ben Leboe, joined a new uranium company start-up led by mining executive Todd Hilditch. This company took the name URZ Energy. The initial public offering was completed and trading commenced on the TSX-V in July, 2017, again under the symbol URZ.

In July, 2018, URZ Energy was acquired by Azarga Uranium in an all-share transaction to form a new U.S.-focused in situ recovery uranium development company. URZ Energy's asset base and management expertise, combined with the team and assets at Azarga Uranium, bolstered the growth pipeline and positioned Azarga to continue to advance the development of the Dewey Burdock project in South Dakota.

On Dec. 31, 2021, EnCore Energy Corp. acquired all of the shares of Azarga Uranium. This was effectively the second time that URZ Energy was acquired, with each successive acquisition completed at a significant premium. EnCore Energy is now listed on the Nasdaq Stock Market.

URZ3 Energy is the third time that the symbol URZ has been used by this same group to work toward the successful building of a uranium company.

About the company's people

URZ3 Energy is bringing the band back together again. Mr. Hilditch, Mr. Leboe and Ms. MacKay, all previous executives of Uranerz Energy and/or URZ Energy are directors of URZ3 Energy. The advisory board of URZ3 comprises uranium professionals from Uranerz Energy -- Dr. Kirchner, Mr. Catchpole, Arnold Dyck and Paul Saxton. For a detailed bio on each of the members of the advisory board, see the company's news release dated May 28, 2024.

"The reassembling of this team of uranium-sector professionals did not happen by chance. This is a very well-thought-out plan to expand the company into the uranium sector while maintaining the company's core gold assets. I believe with this proven team and the strong uranium knowledge base it brings to the company, URZ3 Energy is positioned to again become a leading force in the uranium industry," stated Mark Kolebaba, president and chief executive officer of URZ3.

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