First American Uranium’s Updated Investor Presentation Outlines Corporate Strategy, Strategic Domestic Project & Investment Highlights

Vancouver, British Columbia – March 15, 2023 – First American Uranium Inc. (CSE: URM) (FSE: IOR) (OTCPK:FAUMF) (the “Company”) is pleased to announce an updated Investor Presentation that covers the Company’s strategy for advancing its shareholder value as a North American uranium explorer in the growing uranium market. “The wave of global interest and investment in clean, nuclear energy is strengthening the positive outlook for uranium in both the near and long term,” said Shawn Balaghi, First American Uranium’s CEO. “We’re excited to be determining the potential of our uranium properties to become part of a secure, domestic supply chain, especially with uranium prices recently reaching their highest levels in over a decade.”

The Company’s Investor Presentation can be downloaded here:

The Investor Presentation includes timely information on the following:

Corporate Strategy: The Company is accelerating the exploration of its uranium project to take advantage
of (a) strong industry fundamentals that are driving recapitalization of the nuclear energy and uranium
sectors, (b) the current uranium bull market, and (c) the under-representation of US based uranium
miners across the energy sector.

Sector & Investment Highlights: With nuclear producing the least carbon dioxide equivalent emissions of
any energy generation approach, and the US and a growing number of countries looking to nuclear as a
potential solution in their energy mix, uranium exploration and mining is being incentivized while M&A
activity in the uranium sector is on the rise.

Strategic Domestic Project: The Company’s focus for becoming part of the American domestic uranium
supply solution is its US-based Red Basin Uranium/Vanadium Project, located in New Mexico, roughly 200
miles north of the only operating uranium mill in America. According to the Red Basin project’s initial draft
NI 43-101 report, evaluations of the property from several sources confirm the presence of
uranium/vanadium deposits, indicating the potential to become an advanced stage project.

Expert Team: First American Uranium is led by a management team with deep knowledge of project
advancement and tier one expertise in all aspects of mine development, operations, community affairs
and environmental work. The recent appointment of Shawn Balaghi as CEO further strengthened the
Company’s ability for business development and capital raising. Mr. Balaghi brings over 20 years of
experience in the capital markets industry globally, holding key roles in finance, corporate development,
and strategic planning. He has served as CEO and CFO for several publicly listed companies, has worked
closely with some of the largest independent auditing firms in the US and Canada, and has raised over
$300 million in funding for several companies.

About First American Uranium Inc.

First American Uranium Inc. is engaged in the business of mineral exploration and the acquisition of
mineral property assets in North America. Its objective is to locate and develop economic precious and
base metal properties of merit and to conduct its exploration programs on the Silver Lake and Red Basin
properties. The Silver Lake property is situated around Goosly Lake and approximately 30 km southeast
of the town of Houston, in the Omineca Mining Division, British Columbia. The Company has acquired a
60% interest in a company that indirectly holds a 100% interest (subject to a 2% NSR) in the Red Basin
uranium/vanadium mineral claims located in Catron County, New Mexico.


“Shawn Balaghi”
Shawn Balaghi, Chief Executive Officer

For further information, please contact: Telephone: 1-604-683-3995

The CSE does not accept responsibility for the adequacy or accuracy of this release.

This press release includes “forward-looking information” that is subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. Forward-looking statements may include but are not limited to, statements relating to the trading of the Company’s common shares on the CSE and the Company’s use of proceeds and are subject to all of the risks and uncertainties normally incident to such events. Investors are cautioned that any such statements are not guarantees of future events and that actual events or developments may differ materially from those projected in the forward looking statements. Such forward-looking statements represent management’s best judgment based on information currently available. No securities regulatory authority has either approved or disapproved of the contents of this news release. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.