Great Northern Energy Metals Announces Definitive Agreement With DISA Technologies for Abandoned Mine Waste Recycling Partnership

(CSE: GNEM) (FSE: 70M)

VANCOUVER, BC, July 2, 2025 /CNW/ - Great Northern Energy Metals Inc. ("GNEM" or the "Company") is pleased to announce that it has entered into a definitive Waste Treatment and Use Agreement ("WTUA") with DISA Technologies, Inc. ("DISA") to facilitate access, treatment, and recycling of minerals from abandoned mine waste ("AMW").

Under the terms of the WTUA, DISA will have exclusive access to conduct surveys and perform sampling and characterization activities on AMW under the ownership or control of GNEM. This includes stockpiles and legacy mine material, subject to applicable laws and regulatory approvals. The goal of this initiative is to utilize DISA's EPA validated proprietary High-Pressure Slurry Ablation (HPSA) technology to safely reclaim and remediate multiple sites across GNEM's properties.

The WTUA grants DISA the exclusive right to deploy its technology and take possession of recovered minerals. GNEM and its partners would be entitled to a Net Smelter Return ("NSR") royalty from all sales of minerals recycled during the processed AMW.

Great Northern Energy Metals Third Amendment Agreement to Nuvemco Option Agreement

The Company also wishes to announce that it has amended the option agreement dated August 20, 2024 (the "Option Agreement") between Ventura Uranium LLC (dba Nuvemco, LLC) ("Nuvemco"), 1494402 B.C. Ltd. (the "Optionee"), and Paul Szilagyi ("PS", and together with Nuvemco, the "Optionors"), which was assigned to the Company pursuant to an assignment and assumption agreement between the Company and the Assignor dated May 8, 2025. The Company and the Optionors have now entered into a third amendment agreement, dated June 26, 2025, pursuant to which the date for the first Pubco Cash Payment and the First Option Share Payment has been extended to July 11, 2025.

Under the terms of the Option Agreement, the Company has the exclusive right to acquire up to a 100% interest in a Colorado-based uranium project (the "Property") through a two-stage option to acquire all of the membership interests in a Colorado limited liability company, NUV2C, LLC ("Holdco"), which holds legal and beneficial title to the Property. Nuvemco currently owns 99% of Holdco, and PS owns the remaining 1% of Holdco. Please see the Company's news releases dated May 9, 2025 and June 4, 2025 which provide additional disclosure about the Option Agreement.

All securities to be issued under the Option Agreement will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation. None of the securities to be issued under the Option Agreement have been or will be registered under the United States Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

Results from 2025 Winter Drill Program at Kenora U Property, Ontario

The Company announces the completion and results of its 2025 winter diamond drill program at the Kenora U Property, located approximately 30 kilometers east of Kenora, northwestern Ontario. The program was conducted in partnership with Critical One Energy Inc. (formerly, Madison Metals Inc.).

The 2025 winter drill program, carried out from March 6 to March 28, included five NQ-sized diamond drill holes totaling 1,045 metres at the Richard Lake area. The program aimed to test the down-plunge and along-strike extensions of known uranium mineralization. Highlights from the campaign include:

• Drill Hole GNEM-25-004: Returned a key intercept of 1,440 ppm U over 0.66 m from 47.23 to 47.89 metres, targeting the eastern extent of mineralization.
• Drill Hole GNEM-25-002: Confirmed down-plunge continuity with 187 ppm U over 0.71 m from 172.66 to 173.37 metres.

While the drilling produced a couple of interesting intercepts as per above, the Company's management and board have decided to now focus primarily on its US assets and projects going forward. There will be further disclosure on our plans in the US in an upcoming press release.

About Great Northern Energy Metals Inc.

GNEM is a Canadian uranium mining and nuclear technology company focused on developing a vertically integrated fuel cycle in North America. GNEM is listed on the Canadian Securities Exchange (CSE: GNEM) and the Frankfurt Stock Exchange (FSE: 70M).

About DISA Technologies Inc.

Disa Technologies is revolutionizing mineral recovery with their patented High-Pressure Slurry Ablation (HPSA) technology—an innovative solution that upgrades critical minerals from mined ore and legacy waste. Serving both the mining and remediation sectors, they recover valuable resources that power industry, strengthen energy independence, and restore contaminated sites to productive use. Their technology unlocks economic and environmental value, transforming how the world processes, remediates, and recycles essential mineral assets. 

About Ventura Uranium LLC / Nuvemco

Nuvemco is a private company engaged in the identification and revitalization of legacy uranium and vanadium sites through innovative reclamation and recovery partnerships.

Contact
David Mitchell
CEO, Great Northern Energy Metals Inc.
[email protected]
www.greatnorthernenergy.com

The scientific and technical information disclosed in this presentation has been prepared and approved by Joseph Campbell P.Geo a Qualified person as defined in National Instrument 43-101-Standards for Disclosure of Mineral Projects.

Cautionary Note Regarding Forward-Looking Statements

This news release includes certain statements that may be deemed "forward-looking statements." Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words such as "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. All forward-looking statements in this news release are made as of the date of this news release. The forward-looking statements contained herein are also subject generally to assumptions and risks and uncertainties that are described from time to time in the Company's public securities filings with the Canadian securities commissions. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

SOURCE Great Northern Energy Metals Inc.