Canadian Uranium Corp. Amends Option Agreement for Cable Lake Property

Vancouver, British Columbia — May 13, 2026 — Leads & Copy —

Canadian Uranium Corp. (CSE: CANU, OTCQB: CANUF, WKN: A41WE6) has entered into an addendum to its option assignment agreement with Citizen Mining Corporation and Doctors Investments Group Ltd. The addendum amends the terms of the original option agreement, under which Canadian Uranium acquired an 80% interest in Citizen's rights to the Cable Lake Property.

Under the original Assignment Agreement, Canadian Uranium and Citizen could acquire an 80% and 20% interest, respectively, in the Cable Lake Property.

The addendum outlines revised payment and exploration expenditure terms for exercising the option. To exercise the option, Citizen and Canadian Uranium must pay Doctors an aggregate of $1,250,000, with payments scheduled as follows:

$350,000 was already paid by Citizen upon signing the original Option Agreement. $200,000 is due on or before July 1st, 2026. $300,000 is due on or before July 1st, 2027. $400,000 is due on or before July 1st, 2028.

The agreement also requires incurring exploration expenditures on the Cable Lake Property. $400,000 must be spent on or before September 1, 2026, and $1,800,000 must be spent on or before December 31, 2028.

As Canadian Uranium holds an 80% interest in the Option Agreement, the company is responsible for 80% of the remaining payments and exploration expenditures.

Canadian Uranium Corp. is focused on uranium exploration and development in the Athabasca Basin. The company's strategy involves assembling technical teams with expertise in uranium geology, geophysics, and northern exploration logistics. The company focuses on acquisitions, exploration methodologies, and partnerships to advance projects and unlock value.

Source: Canadian Uranium Corp.