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Stearman Enters Into Definitive Agreement to Acquire NeoCore Uranium Ltd.

VANCOUVER, British Columbia, June 17, 2025 (GLOBE NEWSWIRE) -- Stearman Resources Inc. (CSE:STMN) ("Stearman" or the "Company") announces that it has entered into a definitive share exchange agreement ("NeoCore Agreement") to acquire 100% of the issued and outstanding common shares of NeoCore Uranium Ltd. ("NeoCore"), a private BC company that owns a 100% interest in the NeoCore Uranium Property ("Property"). The Property consists of six mineral claims covering 13,012 hectares, located in the Athabasca Basin in northern Saskatchewan.

The Property is located on the eastern flank of the Athabasca Basin, about 65 kilometres southeast of the McArthur River Uranium Mine. It is underlain by Neoarchean River Granites, a geologic unit associated with uranium fertility in both Canadian and global analogs. The Property area is directly adjacent to renowned uranium mining and exploration companies including CanAlaska Uranium Ltd., Skyharbour Resources Ltd. and Baselode Energy Corp.

The NeoCore Agreement provides for Stearman to issue 7,500,000 common shares in the capital of the Company (each, a "Company Share"), at a deemed price of $0.05 per share, in exchange for all the issued and outstanding common shares (the "NeoCore Shares") of NeoCore (the "Transaction"). The Company expects to close the Transaction on or before June 30, 2025. The Transaction is subject to certain terms and conditions, including ...