Nuclear Fuels Announces Change of Auditor

CSE:NF

VANCOUVER, May 14, 2024 - Nuclear Fuels Inc. (CSE: NF) (OTCQX: NFUNF) ("Nuclear Fuels" or the "Company") announces that it has changed its auditor from MNP LLP, Chartered Professional Accountants, to Davidson & Company LLP, Chartered Professional Accountants, effective May 10, 2024.

The change was made in connection with the completion of the reverse takeover transaction between the Company and Uravan Minerals Inc. as detailed in a news release dated July 10, 2023.

The Company is relying on an exemption from the change of auditor requirements set out in Section 4.11(3) of NI 51-102 and in this regard confirms that there were no reportable events between the Company and MNP.

Nuclear Fuels Inc. is committed to aggressive exploration of district-scale In-Situ Recovery ("ISR") uranium projects in proven and prolific jurisdictions. Focused on its priority Kaycee Project, located in Wyoming's Powder River Basin, our goal is to advance the project onto a path to production. enCore Energy Corp., under certain circumstances, maintains the right to back-in to 51% ownership by paying the Company 2.5X its exploration expenditures and financing the project to production (recoverable from production). With existing historic resources through a 33-mile trend, 110+ miles of mapped roll-fronts and 3,800 drill holes, Nuclear Fuels has secured the district under one company's control for the first time since the early 1980's. Nuclear Fuels also provides a unique model for development of our other uranium projects and has established a pipeline of future opportunities in well established uranium districts.

The Canadian Securities Exchange has not reviewed this press release and does not accept responsibility for the adequacy or accuracy of this news release.

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SOURCE Nuclear Fuels Inc.