DESIGNATED NEWS RELEASE

VANCOUVER, BC, Oct. 12, 2023 /CNW/ - Uranium Royalty Corp. (NASDAQ: UROY) (TSX: URC) ("URC" or the "Company") is pleased to announce that at its annual general meeting held on October 12, 2023 (the "Meeting" or "AGM"), all nominees listed in its management information circular dated August 18, 2023 were elected as directors of the Company.

Each of the following four nominees proposed by management was elected as a director on a vote by show of hands.  The proxies received by management with respect to the election of directors were as follows:

As a result, the board of directors of the Company (the "Board") now consists of Amir Adnani, Scott Melbye, Vina Patel and Neil Gregson. John Griffith did not stand for re-election as a director. The Company would like to thank John for his invaluable contribution over the years. At the meeting of the Board which followed the AGM, the following directors were appointed as members and respective chairs of the board committees for the ensuing year: (i) Audit Committee composed of Neil Gregson (Chair), Vina Patel and Amir Adnani; (ii) Compensation Committee composed of Vina Patel (Chair) and Neil Gregson; and (iii) Nominating and Corporate Governance Committee composed of Vina Patel (Chair) and Neil Gregson. Amir Adnani was appointed as the Chairman of the Board and Vina Patel was appointed as the lead independent director for the Board. Mr. Adnani is not treated by the Board as an independent director and his membership on the Audit Committee is temporary until additional independent director(s) is appointed.

Shareholders also approved the appointment of PricewaterhouseCoopers LLP, Chartered Professional Accountants, as the Company's auditor for the ensuing year and the authorization of the Board to fix the auditor's remuneration.

A total of 40,233,042 common shares of the Company were voted at the Meeting, representing 40.08% of the votes attached to all outstanding common shares.  Detailed voting results for the Meeting are available on SEDAR+ at www.sedarplus.ca.

About Uranium Royalty Corp.

Uranium Royalty Corp. (URC) is the world's only uranium-focused royalty and streaming company and the only pure-play uranium listed company on the NASDAQ. URC provides investors with uranium commodity price exposure through strategic acquisitions in uranium interests, including royalties, streams, debt and equity in uranium companies, as well as through trading of physical uranium. The Company is well positioned as a capital provider to an industry needing massive investments in global productive capacity to meet the growing need for uranium as fuel for carbon free nuclear energy. URC has deep industry knowledge and expertise to identify and evaluate investment opportunities in the uranium industry. The Company's management and the Board include individuals with decades of combined experience in the uranium and nuclear energy sectors, including specific expertise in mine finance, project identification and evaluation, mine development and uranium sales and trading.