Vancouver, British Columbia--(Newsfile Corp. - March 26, 2024) - Aero Energy Ltd (TSXV: AERO) (OTC Pink: AAUGF) (FSE: UU3) ("Aero" or the "Company") is pleased to announce the start of an airborne VTEM Plus survey aimed at high-grade uranium exploration within its district-scale uranium exploration portfolio, situated in the Athabasca Basin's Northern Rim. The survey is being carried out by Geotech Ltd. of Aurora, Ontario.

Highlights

• Direct Detection Capabilities: The helicopter-borne VTEM Plus system readily detects the electrically conductive graphite-rich rocks that are the favoured targets for large basement-hosted uranium deposits.

• Large and Detailed Survey Area: The survey will cover the Sun Dog and Murmac properties and consist of 3,350 km of flight lines in a grid pattern with 100 m spacing between each flight line. This will allow for prioritization of existing drill targets and generation of additional drill targets.

• Cutting Edge Approach: This survey represents one important modern tool that the Company is utilizing to maximize high-grade uranium discovery efficiency. Much of the survey area is unexplored and unsurveyed by modern methods thus providing a key new discovery opportunity in a frontier region of the Athabasca Basin.

• New Ideas & New Vectors: These large properties are significantly underexplored for basement-hosted uranium, examples of which include NexGen Energy's Arrow Deposit (TSX: NXE) and Fission Uranium's Triple R Deposit (TSX: FCU).

• Fast Track to Drilling Dozens of Targets: Since 2020, exploration partners Fortune Bay (TSXV: FOR) and Standard Uranium (TSXV: STND) have invested $7.6M in early exploration revealing dozens of targets, multiple uranium-fertile EM-conductor corridors and ten new shallow uranium occurrences between 20 and 150 m below surface poised for immediate exploration as a starting point.

Galen McNamara, CEO of Aero Energy, commented: "VTEM Plus surveys represent a significant step forward in Aero's ongoing efforts to leverage advanced technology for exploration success." He continued, "the survey will allow us to obtain high-resolution data of our targeted mineralizing systems, which we believe to be active across the survey area. By leveraging innovative technology and our internal expertise, we are confident in our ability to unearth the full potential of our assets and deliver value to our stakeholders."

Figure 1: Survey flight line pattern over the Sun Dog and Murmac properties (lay flight lines over this map)

Figure 2: Geotech Ltd. VTEM survey system collecting data in the field.

Survey Description and Background

The helicopter-borne VTEM (Versatile Time-Domain Electromagnetic) Plus system, which is known for its high-resolution imaging capabilities, is a time domain electromagnetic system that is particularly useful for its ability to detect conductive materials deep underground, enabling Aero to identify mineral targets with exceptional precision. Additionally, the system also contains a high-sensitivity cesium magnetometer-gradiometer for the mapping of geologic structure and lithology. The Company is leveraging this cutting-edge technology to reveal and refine previously unexplored, high-hosted basement-style targets within the Uranium City district.

The survey is underway and will consist of approximately 3,350 line-kilometers of VTEM Plus flown over the Murmac and Sun Dog properties in a grid pattern with 100 m spacing between flight lines. The survey will cover a substantial area of interest identified by Aero's exploration team much of which is previously unsurveyed by modern methods, providing valuable insights into the subsurface geology and potential mineralization in the area. This comprehensive survey aims to build on previously gathered data to create a full-picture of the site's geological structures and mineral prospects. The VTEM Plus survey is expected to be completed within three to four weeks, with preliminary results to be published shortly thereafter.

Corporate Update

Aero also announces that it has entered into an agreement (the "Agreement") with Blue Summit Ventures ("Blue Summit"), an arm's-length party to the Company, to provide business development and digital marketing initiatives to enhance awareness of the Company. Blue Summit will leverage social media harnessing the power of various platforms to raise awareness of Aero, engage with stakeholders, and communicate the Company's ongoing uranium exploration and development program. The initial term of the Agreement is for a period of six months for an aggregate amount of $175,000 plus applicable taxes. As of the date hereof, to the Company's knowledge, Blue Summit (including its directors and officers) does not own any securities of the Company. The Agreement remains subject to approval by the TSX Venture Exchange.

Qualified Person

The technical content of this news release has been reviewed and approved by Galen McNamara, P. Geo., CEO of the Company and a qualified person as defined by National Instrument 43-101.

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 , or by contacting the Company by email at info@aeroenergy.ca.

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 Offering. 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.

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