VANCOUVER, BC, Oct. 27, 2026 /CNW/ -- Purecore Metals Inc. (CSE: PURE) (FSE: J8Y) (OTCQB: PPURF) ("Purecore" or the "Company") is pleased to announce the publication of Uranium and the AI Power Boom, a comprehensive industry report examining projected global uranium supply and demand against the backdrop of accelerating electricity consumption from artificial intelligence ("AI") and data centre infrastructure.

The report draws on data from the International Energy Agency ("IEA"), International Atomic Energy Agency ("IAEA"), U.S. Energy Information Administration ("EIA"), Sprott Asset Management, Cameco Corporation and other recognized industry sources. It highlights a timing imbalance between the rapid development of AI infrastructure and the longer development timelines associated with new uranium mines.

Please download the free report here: Download report (www.purecoremetals.com/uranium-report/)

Uranium and the AI Power Boom — Report Highlights

The report examines several developments influencing the global uranium industry:

• AI-Driven Electricity Demand: The IEA's projection that data centre electricity consumption could reach 950 TWh annually by 2030.¹
• Global Nuclear Expansion: The IAEA's latest nuclear generating-capacity projections through 2060.³
• Long-Term Uranium Supply: Industry scenarios indicating cumulative uranium supply deficits of approximately 700 M to 1.7 Blb of U₃O₈ through 2040.⁴
• Uranium Pricing: September 2026 industry-average spot and long-term indicators of US$89.63 and US$96.50/lb, respectively.⁵
• Nuclear Utility Contracting: EIA data showing approximately 186.3 Mlb of unfilled U.S. utility requirements for 2026–2035.⁶
• Global Production Concentration: Kazakhstan's approximately 40% share of global uranium mine production.⁷
• Exploration and Development: Long timelines associated with bringing new mining projects into production.²
• Purecore's Portfolio: The Yurchison Uranium Property in Saskatchewan and Bankier Property in British Columbia.

Peter Berdusco, President and CEO of Purecore, commented:

"Artificial intelligence is introducing another powerful source of electricity demand. The world's largest technology companies are increasingly looking toward nuclear energy as a source of reliable, around-the-clock power capable of supporting the scale and performance requirements of next-generation data centres. We compiled this report because we believe investors should have access to the same underlying industry data that informs our strategic decisions. Understanding the relationship between nuclear expansion, uranium supply and long-term electricity demand is fundamental to understanding why Purecore is building its portfolio around uranium and other critical minerals."

Purecore's Uranium and Critical Minerals Strategy

Purecore continues to pursue an acquisition- and exploration-focused strategy targeting uranium and copper opportunities in prospective mining jurisdictions.

The Company's Yurchison Uranium Property, located in the Wollaston Domain of northern Saskatchewan, comprises 22 mineral claims covering approximately 35,029 hectares. Pursuant to its definitive option agreement with Skyharbour Resources Ltd., Purecore holds an option to earn up to a 100% interest in Yurchison.⁹

The property is located approximately 75 kilometres south of Cameco's Rabbit Lake operation and is the subject of an ongoing historical data compilation and technical review program intended to support future exploration target generation.⁹

Through its existing portfolio and ongoing evaluation of additional opportunities, Purecore aims to build a portfolio of critical mineral exploration assets positioned within the broader themes of nuclear energy expansion, electrification and increasing global electricity requirements.

Global Nuclear Expansion and Uranium Supply

The IAEA's September 2026 nuclear power projections provide additional evidence of the potential scale of future nuclear energy expansion. According to the IAEA, approximately 413 nuclear reactors were operating worldwide at the end of 2025, representing 377.1 gigawatts of electrical generating capacity.³

Under the agency's high-growth scenario, global nuclear generating capacity could increase to approximately 1,045 gigawatts by 2050 and 1,284 gigawatts by 2060, more than three times the 2025 operating capacity. These figures are scenario-based projections, not assured outcomes.³

Sprott's uranium market analysis estimates that cumulative uranium supply deficits could approach 700 Mlb of U₃O₈ by 2040 under its underlying demand assumptions. Under a scenario incorporating global net-zero commitments, the projected cumulative deficit could reach approximately 1.7 Blb of U₃O₈ over the same period.⁴

Uranium Pricing and Utility Contracting

According to Cameco's published uranium pricing data, the industry-average uranium spot price was US$89.63/lb U₃O₈ at September 30, 2026, compared with US$24.63/lb in January 2020. The industry-average long-term uranium price indicator was US$96.50/lb at September 30, 2026, compared with US$35.00/lb at the end of 2020.⁵

The report examines how outstanding U.S. nuclear utility contracting requirements, together with potential global nuclear fleet expansion, could influence uranium procurement strategies and future demand for primary uranium production.

Concentration of Global Uranium Production

According to the World Nuclear Association, Kazakhstan accounted for approximately 40% of global uranium mine production in 2025, making it the world's largest uranium-producing country.⁷

Kazatomprom, Kazakhstan's national uranium company and the world's largest uranium producer, reported that its attributable production represented approximately 20% of global primary uranium production in 2025.⁸

Sources and References

Numbers in the text refer to the sources below. Third-party projections are scenarios, not guarantees.

1. IEA, Key Questions on Energy and AI (Apr. 16, 2026), Executive Summary. Source

2. S&P Global Market Intelligence, From Discovery to Delay (Jul. 8, 2026); mining projects generally. Source

3. IAEA, Energy, Electricity and Nuclear Power Estimates to 2060 (Sep. 14, 2026), high case. Source

4. Sprott, The Uranium Miners Opportunity (2025); scenarios based on data as of Dec. 31, 2024. Source

5. Cameco, Uranium Price, month-end industry-average indicators (Sep. 30, 2026). Source

6. U.S. EIA, 2025 Uranium Marketing Annual Report (Jul. 29; rev. Aug. 13, 2026), Tables 1, 11–12. Source

7. World Nuclear Association, Uranium and Nuclear Power in Kazakhstan (Oct. 23, 2026). Source

8. Kazatomprom, FY2025 Results and H1 2026 Results; attributable output and 2026 guidance. FY2025 • H1 2026

9. Purecore Metals, Yurchison Data Compilation and Target Generation (Sep. 15, 2026). Source

About Purecore Metals Inc.

Purecore Metals Inc. (CSE: PURE) (FSE: J8Y) (OTCQB: PPURF) is a Canadian critical minerals exploration company focused on building a portfolio of uranium and copper assets aligned with the long-term expansion of global electricity demand. The Company's strategy focuses on the acquisition, exploration and advancement of critical mineral assets in mining-friendly jurisdictions.

For additional information, visit www.purecoremetals.com.

ON BEHALF OF THE BOARD OF DIRECTORS

Peter Berdusco
President and Chief Executive Officer | Purecore Metals Inc.

Cautionary Statement Regarding Forward-Looking Information

This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements regarding anticipated global uranium supply and demand; future nuclear energy development and expansion; projected electricity demand associated with artificial intelligence and data centre infrastructure; future uranium pricing and market conditions; potential uranium supply deficits; uranium production forecasts; nuclear utility contracting activity; and the Company's exploration, acquisition and business development strategies.

Forward-looking information is based on management's current expectations, estimates, projections and assumptions regarding global electricity consumption, government energy policies, nuclear reactor construction, uranium production and availability, commodity prices, exploration results, regulatory approvals, financing conditions and general economic and market circumstances.

Such information involves known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those expressed or implied, including commodity price fluctuations, changes in government policy, delays in nuclear infrastructure development, variations in nuclear fuel demand, the availability of secondary uranium supplies, changes in uranium market conditions, exploration risks, regulatory requirements, financing risks and general market conditions. Industry forecasts, projections and scenario analyses referenced herein are derived from third-party sources and should not be interpreted as guarantees of future results. The Company undertakes no obligation to update forward-looking information except as required by applicable securities laws.

Third-Party Information and Technical Disclosure

Industry information included in this news release has been obtained from third-party sources believed to be reliable. Such information has not necessarily been independently verified by the Company, and no representation is made regarding its completeness or accuracy. The accompanying report is provided for informational purposes only and does not constitute investment advice, an offer to sell securities or a solicitation of an offer to purchase securities.

The accompanying report does not constitute a technical report under National Instrument 43-101 – Standards of Disclosure for Mineral Projects. No mineral resources or mineral reserves have been defined on the Yurchison Uranium Property or the Bankier Property in accordance with National Instrument 43-101. Purecore is an exploration-stage company with no history of mineral production. There can be no assurance that exploration activities on either property will result in the discovery of an economically viable mineral deposit.

Neither the Canadian Securities Exchange nor its regulation services provider accepts responsibility for the adequacy or accuracy of this release.

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