First American Uranium closes second tranche raising $483,300

First American Uranium Inc. (CSE: URM) (FSE: IOR) (OTCPK: FAUMF) closed the second tranche of its non-brokered private placement on September 19, 2025, issuing 1,611,000 common shares at $0.30 per share for gross proceeds of $483,300.

The Vancouver-based mineral exploration company paid finder's fees of $13,020 in cash and issued 43,400 common share purchase warrants. Each warrant allows the holder to purchase one share at $0.30 for 24 months from the issuance date.

Securities issued in the first tranche are subject to a statutory hold period ending January 20, 2026, in accordance with Canadian Securities Exchange policies and applicable securities legislation.

The company expects to close a third and final tranche of the offering on or before October 1, 2025. First American Uranium plans to use the net proceeds for exploration work programs, mineral property acquisitions, marketing and general working capital purposes.

First American Uranium focuses on mineral exploration and acquisition of mineral property assets in North America. The company conducts exploration programs on its Silver Lake property, located around Goosly Lake approximately 30 kilometers southeast of Houston in British Columbia's Omineca Mining Division.

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