Urano and Pegasus Receive Shareholder and Court Approval for Acquisitions by Aero; Name Change to Manhattan Uranium Discovery Corp. Effective May 7, 2026

(TheNewswire)

Vancouver, B.C. – May 4, 2026 -TheNewswire – Aero Energy Limited (“Aero”)
(TSXV: AERO, OTC Pink: AAUGF, FSE: UU3), Urano Energy Corp.
(“Urano”) (CSE: UE,OTCQB: UECXF) and Pegasus Resources Inc.
(“Pegasus”) PEGA are pleased toannounce that both Urano and Pegasus received the  approval of theirshareholders at their respective special meetings held on April 29,2026 to consider the acquisition of each of Urano (the “Urano Arrangement”)and Pegasus (the “PegasusArrangement” and, together with the UranoArrangement, the “Arrangements”) by Aero by way of plans ofarrangement under the Business Corporations Act (BritishColumbia).

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

“Galen McNamara”

“Jason Bagg”

“Christian Timmins”

Chief Executive Officer,

Chief Executive Officer,

Chief Executive Officer,

Aero Energy Limited

Urano Energy Corp.

Pegasus Resources Inc.

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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