Vancouver, BC - TheNewswire - April 4, 2023 - Oberon Uranium Corp. (“Oberon” or the “Company”) (CSE:OBRN) is pleased to announce that it has signed a definitive share purchase agreement respecting its previously announced (see Oberon’s news release dated March 6, 2023) transaction (the “Transaction”) under which it will acquire all of the issued and outstanding shares of 2037881 Alberta Ltd. (“2037881 AB”). The material assets of 2037881 AB are 23 mineral claims totalling 20,064 hectares near Uranium City, Saskatchewan, Canada, known as the “Fusion Uranium Zone Project”, which is prospective for uranium. In addition, 2037881 AB owns uranium extraction technology using a method of in-situ leaching of uranium deposits located in non-porous, impermeable underground formations.

Oberon has now executed a share purchase agreement dated April 3, 2023 (the “SPA”) with 2037881 AB and the shareholders of 2037881 AB, which contemplates that on closing Oberon will issue an aggregate of 20,000,000 Class A common shares of Oberon (the “Consideration Shares”) to the 2037881 AB shareholders at a deemed price per Consideration Share of $0.2025, representing an aggregate purchase price of $4,050,000. Closing of the Transaction is expected to take place on or about April 11, 2023, and Oberon will provide a further update on closing. The Transaction will be an arms-length transaction for the Company and will not constitute a fundamental change or result in a change of control of the Company, within the meaning of the policies of the CSE.

About the Company

Oberon Uranium Corp. is a mineral exploration company with an option to acquire a 100% interest in the past producing Lucky Boy Property located in Arizona, USA. Oberon also has a 100% interest in the Element 92 Property located in Saskatchewan, Canada. For further information, please refer to the Company's disclosure record on the Company by email at info@oberonuranium.com