Company Announcements

VANCOUVER, BC , May 4, 2026 /CNW/ - Aero Energy Limited ("Aero") (TSXV: AERO) (OTC Pink: AAUGF) (FSE: UU3), Urano Energy Corp. ("Urano") (CSE: UE) (OTCQB: UECXF) and Pegasus Resources Inc. ("Pegasus") (TSXV: PEGA) are pleased to announce that both Urano and Pegasus received the  approval of their shareholders at their respective special meetings held on April 29, 2026 to consider the acquisition of each of Urano (the "Urano Arrangement") and Pegasus (the "Pegasus Arrangement" and, together with the Urano Arrangement, the "Arrangements") by Aero by way of plans of arrangement under the Business Corporations Act (British Columbia).

Of the votes cast by Urano shareholders at the Urano meeting, 99.91% were voted in favour of the special resolution approving the Urano Arrangement. Of the votes cast by Pegasus shareholders at the Pegasus meeting, 98.21% were voted in favour of the special resolution approving the Pegasus Arrangement.

Urano and Pegasus are also pleased to announce that the Supreme Court of British Columbia granted a final order approving the Arrangements on May 4, 2026. The Arrangements remain subject to certain customary closing conditions and are expected to close on or about May 7, 2026. Full details of the Urano Arrangement and the Pegasus Arrangement and certain other matters are set out in the respective management information circulars of Urano and Pegasus each dated March 27, 2026 (the "Information Circulars"). Copies of the Information Circulars and other meeting materials can be found on the SEDAR+ at www.sedarplus.ca.

Name Change

Additionally, and further to the news release dated March 2, 2026, the Company has also received approval from the TSX Venture Exchange (the "TSX-V") with respect to the previously announced name change (the "Name Change") from "Aero Energy Limited" to "Manhattan Uranium Discovery Corp.". The TSX-V will publish a bulletin announcing the effective date of the Name Change, together with Aero's new CUSIP and ISIN numbers.

It is anticipated that the Aero common shares (the "Shares") will begin trading under the new name on or about May 7, 2026. The Shares will trade under the new "MANU" ticker symbol on the TSX-V.

Effective on or about May 7, 2026, the new CUSIP and ISIN assigned to the Shares will be:

CUSIP: 562913103, ISIN: CA5629131031.

No action is required to be taken by shareholders with respect to the Name Change.

About Aero Energy

Aero Energy Limited, following its successful merger with Kraken Energy Corp. ("Kraken"), has established a robust portfolio of uranium assets in North America. The company controls a district-scale land package in Saskatchewan's Athabasca Basin, including its Strike and Murmac projects, which collectively host dozens of shallow drill-ready targets on the north rim of the Athabasca Basin. These projects are guided by an award-winning technical team with a proven track record, responsible for major discoveries such as Gryphon, Arrow, and Triple-R. Additionally, Aero's portfolio includes Kraken's 100%-owned Apex Uranium Property, Nevada's largest past-producing uranium mine, and the Huber Hills Property, spanning 1,044 ha in Nevada and encompassing the historic Race Track open pit mine. This strategic merger combines Aero's extensive Canadian exploration assets with Kraken's high-grade U.S. properties, positioning Aero to unlock significant high-grade, unconformity-style uranium mineralization and capitalize on the growing global demand for uranium.

For more information about Aero, please visit: www.aeroenergy.ca.

About Urano

Urano is a mineral exploration company which holds numerous advanced conventional uranium projects hosting historic resources and mining lode claims in the Colorado Plateau, a region with a rich history of uranium and vanadium mining. As the need and support for domestic uranium and nuclear energy in the United States advances, Urano is well positioned to complete the necessary work to advance permitting for key projects.

For more information about Urano, please visit: www.uranoenergy.com.

About Pegasus

Pegasus Resources Inc. is a Canadian uranium exploration company focused on advancing high-potential projects in the United States. The Company's flagship asset, the Jupiter Uranium Project in Utah, is a drill-ready property positioned for resource expansion. With a commitment to strengthening domestic uranium supply, Pegasus is strategically developing its portfolio to capitalize on the growing demand for nuclear energy.

For more information about Pegasus, please visit: www.pegasusresourcesinc.com.

On Behalf of the Boards of Directors

Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Statement Regarding Forward-Looking Information

Certain information contained herein may constitute forward-looking statements and information (collectively, "forward-looking statements") within the meaning of applicable securities legislation, that involve known and unknown risks, assumptions, uncertainties and other factors. Undue reliance should not be placed on any forward-looking statements. Forward-looking statements may be identified by words like "anticipates", "estimates", "expects", "indicates", "forecast", "intends", "may", "believes", "could", "should", "would", "plans", "proposed", "potential", "will", "target", "approximate", "continue", "might", "possible", "predicts", "projects" and similar expressions, but the absence of these words does not mean that a statement is not forward-looking.

Forward-looking statements in this press release include, but are not limited to: statements regarding the timing and completion of the Arrangements; the satisfaction of the conditions to closing, the expected closing date of the Arrangements; the implementation and effective date of the Name Change; the commencement of trading of the common shares under the new name and ticker symbol; the assignment of new CUSIP and ISIN numbers; the anticipated benefits of the Arrangements; the strategic positioning of Aero, Urano and Pegasus following completion of the Arrangements; the ability of the combined entity to successfully integrate the businesses of Aero, Urano and Pegasus; the potential to advance permitting and development of the companies' respective projects; the potential for resource expansion; and the ability of the combined entity to capitalize on expected demand for uranium.

Such statements reflect the current views of Aero, Urano and Pegasus, with respect to future events and are subject to certain risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed in the forward-looking statements. These risks and uncertainties include, but are not limited to: the risk that the Arrangements are not completed on the timing anticipated or at all; the failure to satisfy the conditions to completion of the Arrangements; the occurrence of any event, change or circumstance that could result in the termination of either the Urano Arrangement or the Pegasus Arrangement; the risk that the expected closing date of the Arrangements is delayed; risks relating to the implementation and timing of the Name Change, including the timing of the TSX-V bulletin and the commencement of trading under the new name and ticker symbol; risks relating to the assignment and effectiveness of new CUSIP and ISIN numbers; the risk that Aero may not realize the anticipated benefits of the Arrangements; risks relating to the integration of Urano and Pegasus with Aero; the ability of Aero, Urano and Pegasus to advance permitting and development of their respective projects; the potential for resource expansion not being realized; volatility in uranium prices and changes in market demand for uranium; general economic, market and business conditions; and the ability of Aero, Urano and Pegasus to obtain and maintain necessary regulatory approvals. Readers are cautioned that the foregoing list is not exhaustive of all possible risks and uncertainties.

With respect to forward-looking statements contained in this press release, Aero, Urano and Pegasus have made assumptions regarding, among other things: the satisfaction of the conditions to completion of the Arrangements;the completion of the Arrangements on the expected timeline; the implementation and effectiveness of the Name Change; the commencement of trading of the common shares under the new name and ticker symbol; the assignment and effectiveness of new CUSIP and ISIN numbers; the ability of Aero, Urano and Pegasus to successfully integrate their respective businesses; the ability to advance permitting and development of their respective projects; the potential for resource expansion; future uranium prices and market demand; general economic and market conditions; the availability of capital and financing on acceptable terms; the ability to obtain equipment, services and qualified personnel in a timely and cost-effective manner; and the ability of Aero, Urano and Pegasus to obtain and maintain necessary regulatory approvals. Although Aero, Urano and Pegasus believe that the expectations reflected in the forward-looking statements contained in this press release, and the assumptions on which such forward-looking statements are made, are reasonable, there can be no assurance that such expectations will prove to be correct. Readers are cautioned that the foregoing list is not exhaustive of all assumptions that may have been considered.

Management has included the above summary of assumptions and risks related to forward-looking information provided in this press release in order to provide Aero, Urano and Pegasus Shareholders with a more complete perspective on Aero's, Urano's and Pegasus' current and future operations and such information may not be appropriate for other purposes. Actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do, what benefits may be derived therefrom.

The forward-looking statements contained in this press release speak only as of the date of this press release. Accordingly, forward-looking statements should not be relied upon as representing Aero, Urano and Pegasus' views as of any subsequent date, and except as expressly required by applicable securities laws, Aero, Urano and Pegasus do not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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SOURCE Urano Energy Corp.