Board Change • May 11
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. No highly experienced directors. Independent Director Aaron Triplett was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. New Risk • Nov 21
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 110% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Negative equity (-CA$1.2m). Earnings have declined by 25% per year over the past 5 years. Shareholders have been substantially diluted in the past year (110% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (CA$2.41m market cap, or US$1.71m). Announcement • Oct 31
Northern Uranium Corp. announced that it has received CAD 0.57 million in funding On October 30, 2025, Northern Uranium Corp. closed the transaction. The company announced that it has issued 6,666,661 units at CAD 0.075 per unit for proceeds of CAD 499,999.575. Each unit is comprised of one common share and one one-year transferable warrant with each warrant entitling the holder to purchase one additional share at a price of CAD 0.10 per share. CAD 70,000 was issued on a flow through basis. The flow-through shares comprising the 933,333 flow-through units and 933,333 flow through shares issuable upon exercise of the warrants comprising the flow-through units will entitle holders to receive tax benefits applicable to flow-through shares in accordance with provisions of the Income Tax Act (Canada). The financing terms have been accepted for filing by the TSX Venture Exchange. The units are restricted from trading until March 1, 2026. A cash finder’s fee of 6%, totaling CAD 27,600, representing 6% of the gross proceeds from a portion of the financing, will be paid to T-Bone Ventures Inc., in accordance with TSX Venture Exchange policies. 
