Visible Uranium-Copper-Vanadium mineralization observed at surface, consistent with historical head grades of 0.21% Uranium, 2.0% Copper and 0.11% Vanadium¹
Potential 4-kilometre copper trend identified; historic mine dumps sampled for first time
200 rock samples completed at Huemul Uranium-Copper-Vanadium Project, Malargüe Department, Mendoza, Argentina; assays pending
Project underpinned by U.S.–Argentina Critical Minerals Framework and formal Mendoza provincial Collaboration Agreement (2026)

TORONTO, June 2, 2026 /CNW/ - Jaguar Uranium (NYSE:JAGU) is pleased to announce the successful completion of its initial 200-sample rock sampling program at the Huemul Uranium-Copper-Vanadium (U-Cu-V) Project, located in Malargüe, Mendoza Province, Argentina. The two-week field campaign delivered encouraging early observations, consistent with previously documented mineralization and indicating potential new mineralized areas across the more than 27,000-hectare district-scale project.

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¹ Visible uranium-copper-vanadium-bearing mineralization has been observed at surface at certain locations. These observations are qualitative in nature. Historical records for the Huemul project report average head grades of approximately 0.21% uranium, 2.0% copper and 0.11% vanadium; however, the Company has not verified these historical results, and there is no assurance that current mineralization is consistent with such historical grades.

Program Highlights

The field team collected 200 rock samples spanning the project's most prospective targets. Field observations to date appear generally consistent with the presence of mineralization described in historical reports.

Near the former Huemul mine itself, the team identified and sampled two outcrops exhibiting visible uranium and copper mineralization consistent with historic records. In addition, historic mine dumps were assessed for the first time and appear, based on visual inspection and historical data, to contain uranium, copper and vanadium mineralization, representing a previously unsampled area warranting further evaluation.²

In the southern part of the project, field observations indicate the presence of mineralization at multiple locations on the ground. Most notably, sampling of strike extensions at the Uryco zone identified a potential 4-kilometre-long trend of copper mineralization in outcrop, consistent with the scale of the system suggested by historical work.³

Assay results from the 200 samples are pending. All mineralization observations described herein are based on visual field assessment and historical data and remain subject to laboratory verification.

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² No conclusions can be drawn regarding grade, continuity, or economic potential pending receipt of assay results and further analysis.

³ These observations are preliminary and do not establish continuity of mineralization between occurrences.

A District with Proven Historical Production

The Huemul Project is anchored by Argentina's first-ever producing uranium mine, commissioned in 1955 and operated continuously until 1975 by the Comisión Nacional de Energía Atómica (CNEA). Historical records document approximately 130,000 tonnes of ore processed at the Malargüe plant, with head grades averaging 0.21% uranium, 2.0% copper, and 0.11% vanadium. The project hosts uranium-copper-vanadium mineralization in a classic sandstone-hosted deposit setting. The broader Malargüe Mining District remains largely untested by modern exploration methods. Based on the presence of a former producing mine, historical exploration data, and the extent of the Company's land package, management believes the project warrants further systematic exploration.

A Jurisdiction on the Rise

Mendoza Province is undergoing a landmark transformation in its approach to mining development, positioning itself as one of Argentina's most compelling emerging mining jurisdictions.⁴ ⁵ The Malargüe department within Mendoza has long been recognized as a pro-mining area with a distinct history of mineral development, including uranium, vanadium, copper, and hydrocarbons.⁶ ⁷ The Company has formalized its relationship with the provincial government through a Collaboration Agreement with the Ministry of Energy and Environment of the Province of Mendoza, signed March 4 2026, establishing government-to-company cooperation across its Mendoza properties. This agreement, combined with the U.S.–Argentina Framework Instrument for Securing Critical Minerals Supply signed in February 2026, positions Huemul squarely within the critical minerals supply strategies of both nations. The Company believes these developments may provide a supportive policy backdrop for Argentinean critical minerals projects such as Huemul.

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⁴ BNamericas, "Argentine Province of Mendoza Redefines Regulatory Framework for Mining", December 2025 — https://www.bnamericas.com/en/features/argentine-province-of-mendoza-redefines-regulatory-framework-for-mining

⁵ Panorama Minero, "From Paralysis to Feasibility: The 365 Days That Changed Mendoza's Mining Destiny", January 2026 — https://www.panorama-minero.com/en/news/from-paralysis-to-feasibility-the-365-days-that-changed-mendoza-s-mining-destiny

⁶ Consolidated Uranium Inc., "Consolidated Uranium to Acquire the Past Producing Huemul Uranium-Vanadium-Copper Project in Argentina", GlobeNewswire, June 2023 — https://www.globenewswire.com/news-release/2023/06/14/2687938/0/en/Consolidated-Uranium-to-Acquire-the-Past-Producing-Huemul-Uranium-Vanadium-Copper-Project-in-Argentina.html

⁷ New Era Metal, "Uranium — Malargüe District" — https://newera-metal.com/uranium

Management Commentary

"The visible mineralization we observed in outcrop and in the historic mine dumps is generally consistent with descriptions in historical records that first drew us to Huemul, and the potential 4-kilometre copper trend at Uryco aligns with what historical data suggested. We look forward to receiving assay results to validate these observations as we plan our next phase of work." said Steven Gold, President & Chief Executive Officer

Cautionary Note

Certain information contained in this news release relating to historical exploration results, production data, and reported grades has been derived from historical records and third-party sources. Such historical information is not current and has not been independently verified by the Company. The Company has not undertaken sufficient work to verify such information and does not treat such historical data as current mineral resources or mineral reserves. There can be no assurance that any historical data referenced herein is accurate or that the mineralization described therein is consistent with current exploration results. The Company considers such historical information to be relevant for exploration purposes only and expects that additional work, including sampling, assaying, and potentially drilling, will be required to verify and validate historical results.

About Jaguar Uranium

Jaguar Uranium Corp. is a South America-focused uranium exploration company advancing a portfolio of prospective brownfield projects across Argentina and Colombia. In Argentina, Jaguar is advancing the Laguna Salada Project in Chubut Province and the historic Huemul uranium mine in Mendoza Province. Anchored by a former producing mine, a historic uranium district and exploration projects supported by historical drilling, the Company is focused on advancing and expanding uranium opportunities across the region. The Company's Berlin Project in Caldas Province, Colombia is a district-scale, sedimentary-hosted polymetallic system historically reported to host uranium alongside rare earth elements, vanadium, nickel, phosphate, molybdenum, rhenium and zinc. Jaguar completed a $25 million initial public offering on NYSE American in February 2026 and is led by an experienced team with backgrounds in exploration, permitting, project development and mining finance in South America.

www.jaguaruranium.com

Forward Looking Statements

This news release contains "forward-looking statements" within the meaning of applicable U.S. securities laws. Forward-looking statements are statements that are not historical facts and include, without limitation, statements regarding: the timing and results of assay data; the interpretation of exploration results; the potential extent, continuity, and significance of observed mineralization; the identification of prospective target areas; the potential for discovery; planned or future exploration programs; and the Company's expectations regarding the Huemul Project and the broader Malargüe district.

Forward-looking statements are based on a number of material assumptions, including, but not limited to: the accuracy of historical data; the reliability of sampling and field observations; the continuity of mineralization observed at surface; the receipt of assay results consistent with expectations; the availability of financing and personnel; and the Company's ability to execute its exploration plans as currently contemplated.

Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those expressed or implied by such statements. These risks and uncertainties include, among others: the risk that assay results do not confirm preliminary observations; risks relating to the interpretation of exploration results; the possibility that mineralization is not continuous or of economic grade; risks associated with early-stage exploration properties; reliance on historical data that may be incomplete or inaccurate; commodity price volatility; permitting and regulatory risks; operational and technical risks; and general economic, market and industry conditions.

Forward-looking statements speak only as of the date of this news release. Except as required by applicable securities laws, the Company undertakes no obligation to update or revise any forward-looking statements to reflect events or circumstances after the date of this release or to reflect the occurrence of unanticipated events.

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SOURCE Jaguar Uranium

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Jaguar Uranium Finds Surface Uranium-Copper-Vanadium at Huemul; Assays Pending