Aero Energy Strengthens Board of Directors and Management Team with New Additions

Vancouver, May 6, 2024 - Aero Energy Ltd. (TSXV: AERO) (OTC Pink: AUUGF) (FSE: UU3) ("Aero" or the "Company") is pleased to announce the appointment of Grace Marosits as a director of the Company and Martin Bajic as Chief Financial Officer of the Company.

Ms. Marosits is a Chartered Professional Accountant and holds a Bachelor of Commerce degree from the Sauder School of Business at the University of British Columbia. She has over two decades of management experience as former Chief Financial Officer of NexGen Energy and in senior accounting and tax roles at Ballard Power, Westcoast Energy and Deloitte. Ms. Marosits is currently Chief Financial Officer and a director of Trail Blazer Capital Corp.

Mr. Bajic is a CPA and has graduated with a Diploma in Accounting from the University of British Columbia. He has over a decade of experience serving as a director, chief financial officer, or consultant to numerous public companies trading on the TSX Venture Exchange and the Canadian Securities Exchange with a focus on the resource and technology industries. Mr. Bajic currently serves as Chief Financial Officer of Summa Silver Corp. and Eminent Gold Corp. Carson Halliday has stepped down from his role as Chief Financial Officer. The Company thanks Mr. Halliday for his service and contributions.

Galen McNamara, CEO of Aero Energy, commented: "I would like to welcome Grace and Martin to the team. Both are seasoned accountants with excellent backgrounds in financial reporting and regulatory compliance and will contribute significantly to the future success of Aero. I would also like to thank Carson Halliday for his excellent work during his tenure as CFO."

Stock Options

The board of directors of the Company has approved the grant of 5,600,000 incentive stock options to officers, directors, and consultants of the Company. The options vest quarterly over a one-year period following the grant date, are exercisable at a price of $0.15, and expire on May 4, 2029.

About Aero Energy Limited

Aero Energy is a mineral exploration and development company advancing a district-scale 250,000-acre land package in the historic Uranium City district within Saskatchewan's Athabasca Basin. Aero Energy is focused on uncovering high-grade uranium deposits across its flagship optioned properties - Sun Dog, Strike, and Murmac - in addition to its fully owned properties. With the application of modern exploration techniques, the Company has identified over 50 shallow drill-ready targets and 125 kilometres of target horizon on the frontier north rim of the Athabasca Basin. Aero Energy is tapping into the Athabasca Basin's emerging potential for high-grade, unconformity-style mineralization.

On Behalf of the Board of Directors
"Galen McNamara"
Galen McNamara, Interim Chief Executive Officer

Further information on the Company can be found on the Company's website at aeroenergy.ca and at www.sedarplus.ca, or by contacting the Company by email at info@aeroenergy.ca.

Cautionary Statement Regarding Forward-Looking Information

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

This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. These statements relate to future events or future performance and include expectations regarding the exploration activities on the Company's properties. All statements other than statements of historical fact may be forward-looking statements or information. Forward-looking statements and information are often, but not always, identified by the use of words such as "appear", "seek", "anticipate", "plan", "continue", "estimate", "approximate", "expect", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe", "would" and similar expressions. Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Accordingly, readers should not place undue reliance on the forward-looking statements, timelines and information contained in this news release. Forward-looking information are based on management of the parties' reasonable assumptions, estimates, expectations, analyses and opinions, which are based on such management's experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect.

The Company undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/208014