First American Uranium Inc. to Enter Quebec with Planned Strategic Acquisition of Rare Earth Elements Niobium Properties in the Grenville Province, Quebec

Core Viewpoint - First American Uranium Inc. has entered into a property purchase agreement to acquire a 100% interest in mineral properties in Quebec's Grenville Province, marking its first entry into this mining-friendly jurisdiction [1][3][5] Acquisition Details - The acquisition includes five properties covering 39 claims over 2,240 hectares, with an additional 480 claims staked by the company, totaling 519 claims and 29,936 hectares [3][5] - The company will issue 4,020,000 common shares at a deemed price of $0.85 per share as consideration for the properties [13][14] Strategic Significance - The Grenville Province is recognized for its high concentration of critical minerals, including rare earth elements, niobium, and nickel-copper, positioning the company to capitalize on exploration and development opportunities [2][3][5] - Historical samples from the properties have shown promising results, including 2.7% Total Rare Earth Elements and 3,190 ppm niobium [5][6] Market Context - The global niobium market was valued at approximately $2.9 billion in 2024 and is projected to reach $4.6 billion by 2032, driven by demand in high-strength steels and advanced applications [11] - The company aims to align its strategy with U.S. initiatives to boost production of critical minerals, enhancing its growth potential [12] Future Plans - The company plans to pursue non-dilutive funding opportunities and engage with U.S. government agencies to advance development while preserving shareholder value [12][13]