F3 Uranium intersects radioactivity at Patterson Lake North, Saskatchewan

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F3 Uranium Corp. [TSXV-FUU; OTCQB-FUUFF; FSDE-X42] has completed the first 30 drill holes (totalling 12,100 metres) of its 2024 winter drill program at the Patterson Lake North (PLN) project, Athabasca basin, Saskatchewan. JR Zone has continued to yield high grade intercepts, such as PLN23-137 which intersected mineralization within a 18.5m interval including 1.25m of composite off-scale mineralization (>65,535 cps), while the company’s focus has expanded to the discovery of additional mineralized zones along the A1 and B1 structures, with numerous radioactive intercepts along both shears, generating additional drill targets.

Ray Ashley, President, commented: “We are very pleased with the results from this winter’s drill program, and the number of new targets generated along both the A1 and B1 systems. The scale of reverse faulting in conjunction with related massive graphitic fault structures at B1 was unexpected and supports our theory that the majority of B1 drilling south of line 2850 may have been in the footwall of this fault, where intense alteration and frequent radioactive intercepts suggest the presence of a nearby source. At A1, considerable undrilled gaps remain open for exploration, such as the 800-metre gap where hole PLN24-140 was drilled, returning over 11,000 cps on the gamma probe within the shear. With a large-scale gravity survey underway, in addition to a joint inversion of ground EM and resistivity geophysics, we continue to develop new targets for the drill program slated to resume in May after a short pause for seasonal breakup.”

A1 Shear Zone: A1, which is host to the high-grade JR Zone, contains several significant undrilled sections: PLN24-140 was collared on line 2325S, within a 800m long area along the A1 with no previous drilling, and intersected up to 560 cps on the handheld spectrometer, and up to 11,000 cps on the QL40 GRA gamma probe. Prior to PLN24-140, gamma probe readings greater than 10,000 cps had not been encountered outside of the JR Zone, resulting in a priority target for the program resumption in May.

B1 Shear Zone: At B1, a total of nine drill holes targeted the intense alteration and structure intersected during the 2023 drill campaign, as these features often occur in close proximity to high grade uranium mineralization. Five drill holes intersected anomalous radiation over a total strike length of 600m. Drill hole PLN24-133 targeted an area near the northern end of the B1 shear zone where a significant change in Athabasca Sandstone depth was expected and encountered a basement wedge in excess of 120m downhole thickness within the sandstone exhibiting strong alteration and deformation

An extremely graphitic structure was intersected within this wedge and in all follow-up drilling on section and along strike. Drilling on line 2850S with PLN24-138 and PLN24-142 and step-out drilling on line 2820S with PLN24-144 confirmed that the strike of this very significant offsetting reverse structure appears to be discordant to the B1 main shear, and likely related to the Harrison fault, a significant regional structure which played an important role in the development of the Athabasca basin.

This magnitude of displacement along wide and strongly graphitic basement faults is highly favorable, and structurally comparable to what is seen at some of the largest uranium deposits in the basin. This now provides a number of drill targets for high grade uranium mineralization including the unconformity contacts, as well as the basement “nose” at the terminus of the wedge within the sandstone, with a focus on where the A1 and B1 structures intercept this offsetting reverse fault.

Drilling Highlights: PLN24-137 (line 040S): JR Zone18.5m interval with mineralization from 201.0m – 219.5m, including1.25m composite off-scale radioactivity (> 65,535 cps) between 214.5m and 216.0m.

A1 Radioactive Drilling Intercepts: PLN24-117 (line 000): JR Zone8.0m mineralized interval from 261.0m – 269.0m. PLN24-119 (line 045S): JR Zone3.5m mineralized interval from 256.0m – 259.5m, and 4.0m mineralized interval from 265.0m – 269.0m. PLN24-128 (line 030S): JR Zone1.5m mineralized interval from 216.0m – 217.5m, and 0.5m mineralized interval from 271.5m – 272.0m.

PLN24-129 (line 015S): JR Zone0.5m mineralized interval from 208.0m – 208.5m, and5.5m mineralized interval from 215.0m – 220.5m. PLN24-131 (line 795S): A1 Exploration0.5m mineralized interval from 252.5m – 253.0m. PLN24-139 (line 795S): A1 Exploration0.5m mineralized interval from 143.0m – 143.5m, and 0.5m mineralized interval from 191.0m – 191.5m. PLN24-140 (line 2325S): A1 Exploration0.5m mineralized interval from 175.5m – 176.0m, and 0.5m mineralized interval from 216.5m – 217.0m.

B1 Radioactive Drilling Intercepts: PLN24-122 (line 3450S): B1 Exploration0.5m mineralized interval from 596.5m – 597.0m. PLN24-135 (line 3240S): B1 Exploration0.5m mineralized interval from 380.5m – 381.0m, and 2.5m mineralized interval from 387.0m – 389.5m, and 0.5m mineralized interval from 642.0m – 642.5m

PLN24-138 (line 2850S): B1 Exploration0.5m mineralized interval from 473.0m – 473.5m, and 2.0m mineralized interval from 533.5m – 535.5m. PLN24-141 (line 3240S): B1 Exploration 0.5m mineralized interval from 464.0m – 464.5m, and0.5m mineralized interval from 546.0m – 546.5m. PLN24-142 (line 2850S): B1 Exploration 0.5m mineralized interval from 319.0m – 391.5m

All depth measurements reported are down-hole and true thicknesses are yet to be determined.

The company’s 4,078-hectare 100%-owned Patterson Lake North property (PLN) is located just within the south-western 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. The PLN property is part of the PLN Project which also includes the Minto and Broach properties.

F3 Uranium has 18 projects in the Athabasca Basin. Several of F3’s projects are near large uranium discoveries including Triple R, Arrow and Hurricane.

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