F3 Uranium drills 7.56% U3O8 over 5.5 metres at Patterson Lake, Saskatchewan

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F3 Uranium Corp. [TSXV-FUU; OTCQB-FUUFF; FSE-2F3A] reported that additional assay results for the ongoing drill program, including PLN23-086 which returned 5.5 metres of 7.56% U3O8, including an ultra-high grade 2.0-metre interval averaging 20.6% U3O8 at Patterson Lake North, northern Saskatchewan. At the A1B area, drill hole PLN23-093 encountered a 2.0m interval averaging 5,557 ppm Boron in highly altered Athabasca Sandstone, approximately 17 metres from the unconformity along the A1B shear.

Sam Hartmann, VP Exploration commented: “In addition to high-grade assay intercepts reported in the JR Zone, we are pleased to discuss our first geochemical exploration drilling results from the A1B area; drill hole PLN23-093, where intense sandstone and basement alteration was previously reported, returned a 2.0-metre interval with significant individual boron values between 3,000 and 10,000 ppm. Boron values over 5,000 ppm, associated with dravite veining and breccias, have previously only been intersected on the property within Athabasca Sandstone immediately above the JR Zone, 3.5 km away.

“PLN23-095, which was a deeper target intercept approximately 800 metres grid north of PLN23-093, previously reported anomalous radioactivity up to 300 cps within a fault system related to the A1B conductor; this returned basement hosted uranium values up to 58 ppm. To put that into context, PLN23-071 on line 165S returned a maximum of 51 ppm uranium in the A1 shear, 45 metres along strike away from high grade mineralization within the JR Zone. It is our view that in comparison to the JR Zone, the A1B system represents an area of widespread structural complexity, with evidence of significant re-activated reverse structures extending into the sandstone. With this complexity also comes opportunity and I see the A1B shear area among the most prospective places to make the next discovery, considering these first geochemistry results. Going forward we will refer to the A1B shear zone as B1 to differentiate it more clearly from the A1 shear zone, as a separate structure.”

Highlights: PLN23-086 (line 045S) mineralized intervals: 2.5 metres of 0.18% U3O8 (221.5m to 224.0m); 5.5 metres of 7.56% U3O8 (229.5m to 235.0m), including 2.0 metres of 20.6% U3O8 (232.0 m to 234.0m), further including 0.5 metres of 35.7% U3O8 (232.5 m to 233.0m).

Main JR Zone Intercepts – PLN23-084 (line 075S) mineralized intervals: 12.5 metres of 0.39% U3O8 (232.0m to 244.5m), including 1.0 metre of 2.22% U3O8 (237.5m to 238.5m).

PLN23-090 (line 120S) mineralized intervals: 10.0 metres of 1.29% U3O8 (232.0m to 242.0m), including 2.5 metres of 4.33% U3O8 (239.0m to 241.5m).

PLN23-097 (line 045S) mineralized intervals: 13.0 metres of 1.34% U3O8 (210.0m to 223.0m), including 4.5 metres of 3.52% U3O8 (215.5m to 220.0m).

Exploration Drilling Highlights: PLN23-093 (line 3450S), B1 Area (formerly A1B): 2.0 metres of 5,557 ppm boron (354.5m to 356.5m) in sandstone, including 0.5 metres of 10,800 ppm boron (355.0m to 355.5m).

PLN23-095 (line 2610S), B1 Area (formerly A1B): 24.5 metres of 25 ppm uranium (602.0m to 626.5m) in basement, including 3.5 metres of 41 ppm uranium (604.5m to 608.0m), further including 0.5 metres of 58 ppm uranium (607.5m to 608m).

The company considers uranium mineralization with assay results of greater than 1.0 weight per cent U3O8 as “high grade” and results greater than 20.0 weight per cent U3O8 as “ultra-high grade”.

All depth measurements reported are down-hole and true thickness are yet to be determined but the company estimates true thickness of the reported intervals in this news release to be close to reported interval widths.

The company’s 4,078-hectare, 100% owned Patterson Lake North property (PLN) is located just within the southwestern edge of the Athabasca Basin in proximity to Fission Uranium’s Triple R and NexGen Energy’s Arrow high-grade world class uranium deposits which is poised to become the next major area of development for new uranium operations in northern Saskatchewan. PLN is accessed by Provincial Highway 955, which transects the property, and the new JR Zone uranium discovery is located 23km northwest of Fission Uranium’s Triple R deposit.

F3 Uranium is advancing the newly discovered high-grade JR Zone on the PLN Property in the Western Athabasca Basin.

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