Triton Uranium Commences Development of The Atlas Project in Uranium City, Saskatchewan

Low-cost, Open-pit Model Targets Accelerated Path Toward Production

SASKATOON, SK, April 27, 2026 /PRNewswire/ - Today, Triton Uranium announced the commencement of development activities at its flagship Atlas Project in Uranium City, Saskatchewan. This marks a significant milestone toward advancing a new domestic uranium supply as demand accelerates alongside the resurgence of nuclear power in the United States.

Triton controls approximately 46,742 acres of mineral dispositions in northern Saskatchewan, with the majority in good standing through 2032. Following the 2026 exploration program, these terms are expected to be extended for many additional years. Triton is preparing to initiate a 10,000-meter drill program across four priority target zones, including the historic Dubyna Mine area, with drilling scheduled to commence in June 2026.

"Speed is the missing piece in North America's uranium supply," said Todd Montgomery, Chief Executive Officer of Triton Uranium. "AI data centres and a renewed U.S. nuclear buildout are accelerating demand right now, but most uranium developments won't come online for years. The Atlas Project is built to change that, with our near-surface, infrastructure-ready model that we believe can be developed significantly faster than conventional uranium mines."

North America's uranium supply remains constrained, with limited domestic production and continued reliance on foreign-controlled sources and strategic inventories outside Western utility markets. As nuclear energy re-emerges as a central pillar of U.S. energy policy and grid reliability, Triton aims to provide a scalable, domestic uranium supply that meets market timing and needs.

Northern Saskatchewan, including Uranium City, hosts extensive documented uranium mineralization. While exploration and development activity declined in the 1970s and 1980s due to lower uranium prices, the region remains highly prospective, supported by decades of federal and provincial geological data.

Triton's strategy focuses on near-surface mineralization and previously developed open-pit mine areas. Unlike the Athabasca Basin projects that require development at depths of 800 to 1,200 meters, the Atlas Project is designed around a lower-cost, open-pit approach.

The project benefits from existing infrastructure, including service roads, grid power access, airstrips capable of handling large transport aircraft, and multiple logistics routes via ice roads and barge systems. These advantages are expected to streamline development timelines and reduce capital intensity.

"With today's announcement, the Atlas Project takes a major step forward," said Scott Evans, President of Triton Uranium. "Beginning on-site work moves the project closer to advancing a future open-pit ore body and reinforces our commitment to creating value for the company, the community, and North America's uranium supply."

The Atlas Project aims to support northern Saskatchewan by creating jobs and fostering Indigenous cooperation, while adhering to environmental and governance standards.

Additional Facts

About Triton Uranium

Triton Uranium is advancing the Atlas Project, North America's only potential low-cost, near-surface uranium project. The Company is committed to delivering a safe, secure, and cost-effective uranium supply from Saskatchewan's resource-rich North, helping meet future North American energy demand while strengthening Western national security.

Leadership

Triton is led by Todd Montgomery, a 38-year veteran of resource development with experience spanning rare earths, oil sands, polymetallics, base and precious metals, helium, geothermal, and aluminum ores. Mr. Montgomery previously served as CEO of Anglo Potash Ltd., which initiated the Jansen Potash Project in central Saskatchewan. BHP acquired the project in 2008 for C$284 million and has since invested or committed approximately US$8.4 billion toward development.

Montgomery also co-founded the Thor Project, a Canadian Energy Metals project, which was recently announced as a significant discovery of alumina in Saskatchewan. Collectively, Triton's board brings more than 200 years of combined experience in mining exploration, engineering, economics, and corporate leadership.

Learn more about Triton's projects and exploration strategy at www.tritonuraniumcorp.com

Qualified Persons Statement and Historical Resource Statement

The scientific and technical information in this news release has been reviewed and approved by Troy Marfleet, P.Geo., Technical Advisor for Triton Uranium Corp., a registered member of the Professional Engineers and Geoscientists of Saskatchewan. Mr. Marfleet is a Qualified Person as defined by National Instrument 43-101. Certain disclosure in this news release may refer to a historical estimate. A qualified person has not done sufficient work to classify any such historical estimate as a current mineral resource or mineral reserve, and Triton is not treating any such historical estimate as a current mineral resource or mineral reserve. Any statements regarding exploration potential, development potential, open-pit potential, timing, or cost profile are preliminary in nature and should not be construed as demonstrating technical or economic viability.

Forward-Looking Information

This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws, including, without limitation, statements regarding the Company's exploration plans, drilling program, development plans, potential production pathway, timing of future work, extension of mineral dispositions, project advancement, and the anticipated benefits of the Atlas Project. Forward-looking statements are based on a number of assumptions believed by the Company to be reasonable as of the date hereof and are subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those expressed or implied herein. Readers are cautioned not to place undue reliance on forward-looking statements. Except as required by law, the Company undertakes no obligation to update or revise any forward-looking statements.

SOURCE Triton Uranium