Great Northern Energy Metals Inc. Announces Joint Venture with CVMR Inc. to Develop a Uranium Milling Facility

TORONTO, May 14, 2025 /CNW/ - Great Northern Energy Metals Inc. (CSE: GNEM) ("GNEM" or the "Company") is pleased to announce the formation of a strategic joint venture with CVMR Corporation ("CVMR"), a globally recognized leader in refining and metal powder manufacturing technologies based in Toronto, Ontario. The joint venture will focus on the design, construction, and operation of a uranium milling facility in Colorado, United States, marking a significant milestone in GNEM's growth strategy and its commitment to advancing the critical minerals supply chain.

Under the terms of the Joint Venture Formation Agreement, GNEM and CVMR will form a special-purpose Wyoming limited liability company (the "JV LLC") to hold the planned facility, and each contribute key resources to the joint venture, combining GNEM's access to high-potential uranium assets with CVMR's proprietary refining technology and operational expertise. The new facility is intended to process uranium mineralized material sourced from GNEM's recently optioned mineral claims and leases in Colorado, with potential for toll milling of third-party feedstock.

Kamran Khozan, CEO of CVMR, stated "CVMR Corporation's mining methods and production of yellow cake process can substantially reduce the negative impacts of pollutants and render the entire chain of mining and beneficiation of uranium harmless to the environment."

"The formation of this joint venture represents a transformational step forward for GNEM," said David Mitchell. CEO of Great Northern Energy Metals Inc. "By leveraging CVMR's globally proven technology and our strong position in one of the most promising uranium jurisdictions in North America, we are positioning ourselves to play a pivotal role in the North American energy transition."

Key Highlights of the Joint Venture Include:

• Equal Ownership: GNEM and CVMR will each hold a 50% interest in the JV LLC.
• Strategic Location: The uranium milling facility will be developed in Colorado, a historically significant uranium-producing state with supportive infrastructure and regulatory framework.
• Environmental Commitment: The joint venture will prioritize sustainable development practices, aligning with state and federal environmental regulations and emphasizing minimal environmental impact.

The formation of the joint venture is subject to certain regulatory approvals and customary closing conditions. GNEM will provide further updates as key milestones are achieved.

About Great Northern Energy Metals Inc.

Great Northern Energy Metals Inc. is a Canadian exploration and development company focused on critical minerals essential to the global clean energy transition. With a primary focus on uranium, GNEM is committed to responsibly advancing projects that will help meet the growing demand for secure and sustainable energy sources.

About CVMR Inc.

CVMR Inc. is a privately held, global leader in refining technologies and the production of high-purity metal powders. With over three decades of innovation, CVMR provides cutting-edge solutions across the energy, aerospace, and medical sectors.

www.greatnorthernenergymetals.com

Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

This news release includes certain statements that may be deemed "forward-looking statements", including but not limited to: the formation of the JV LLC, the development of a uranium milling facility in Colorado, and the expected benefits of the joint venture with CVMR. All statements in this new release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. 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.

For more information, please contact: David Mitchell CEO, Great Northern Energy Metals Inc., [email protected]