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STEARMAN ENTERS INTO OPTION AGREEMENT WITH F4 URANIUM LTD. FOR MURPHY LAKE PROPERTY

VANCOUVER, BRITISH COLUMBIA – July 29, 2025 – Stearman Resources Inc. (CSE:STMN) is pleased to announce that it has entered into an option agreement dated July 29, 2025 with F4 Uranium Ltd. ("F4") pursuant to which F4 has granted Stearman the exclusive option to acquire up to a 70% interest in F4's Murphy Lake uranium property in Saskatchewan. The Property is located in the northeastern Athabasca Basin, 5 km south of ISOEnergy's Hurricane Uranium Deposit, 15 km north of Purepoint Uranium and Iso Energy's Nova Discovery, and 4 km east of Cameco's La Rocque Lake Uranium Zone.

For more information on the Murphy Lake Property, see the news release of July 29, 2025 of F4 Uranium Ltd. (TSXV: FFU) (OTCQB: FFUCF).

Option Agreement Terms

Pursuant to the terms of the Option Agreement:

• Stearman shall forthwith pay to F4 a non-refundable cash payment in the amount of $50,000 (the "Initial Payment Date").
• F4 has granted to Stearman the option (the "Initial Option") to acquire a 50% interest in the Property by:
  • Paying to F4 an aggregate of $750,000 in cash over 24 months from the Initial Payment Date:
    • $150,000 on or before 45 days after the Initial Payment Date;
    • $150,000 on or before 6 months after the Initial Payment Date;
    • $150,000 on or before 12 months after the Initial Payment Date;
    • $150,000 on or before 18 months after the Initial Payment Date;
    • $150,000 on or before 24 months after the Initial Payment Date;
  • Funding a total of $10,000,000 of exploration expenditures on the Property over 42 months from the Initial Payment Date:
    • $1,500,000 on or before 12 months after the Initial Payment Date;
    • $1,500,000 on or before 24 months after the Initial Payment Date;
    • $7,000,000 on or before 42 months after the Initial Payment Date;
  • Stearman shall complete one or more equity financings to raise aggregate gross proceeds totaling at least $3,000,000 on or before 6 months after the Initial Payment Date, on completion of which Stearman shall issue to F4 common shares equal to 9.9% of the total number of issued and outstanding shares.
• Following the exercise of the Initial Option, Stearman shall have the option (the "Bump-Up Option") to acquire an additional 20% interest in the Property (for a total interest of 70%) by:
  • Paying to F4 an aggregate of $500,000 in cash over 36 months from the Initial Payment Date:
    • $250,000 on or before 30 months after the Initial Payment Date;
    • $250,000 on or before 36 months after the Initial Payment Date;
  • Funding additional expenditures totaling $8,000,000 on or before 60 months from the Initial Payment Date.
• Following the exercise by Stearman of the Initial Option, Stearman shall grant to F4 a 2.0% net smelter returns royalty in respect of the Property payable upon commencement of commercial production.
• On the earlier of the date that Stearman (i) exercises the Bump-Up Option; (ii) elects not to exercise the Bump-Up Option; or (iii) 60 months from the Initial Payment Date, F4 and Stearman will form a joint venture to govern further exploration and development of the Property.

Regulatory Approvals

The parties to the Option Agreement are at arm's length and there are no finder's fees payable. Pursuant to CSE Policy 4.6, the transactions, including the $3 million of financings, may require Stearman shareholder approval. The transactions contemplated under the Option Agreement remain subject to the approval of the TSX Venture Exchange for F4 and the Canadian Securities Exchange for Stearman.

About Stearman Resources Inc.

Stearman Resources Inc. is a mineral exploration company focused on the acquisition, exploration and development of mineral properties in Canada and the USA. The Company currently owns a 100% interest in the NeoCore Uranium Property consisting of 6 mineral claims covering 13,012 hectares, located in the Athabasca Basin in northern Saskatchewan. The Company also has an option on the Miniac Property in Quebec, consisting of 78 claims over 4,110 hectares located 35 km north of Amos, Quebec, prospective for gold, zinc, copper and silver.

Contact Information

Stearman Resources Inc.
Howard Milne, CEO
Email: hdmcap@shaw.ca
Telephone: (604) 377-8994
Website: www.stearmanresources.com

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