F3 Uranium Corp. (TSX-V: FUU) (OTCQB: FUUFF) is pleased to announce initial scintillometer results from the first completed drill hole of the current winter drill program on the Patterson Lake North Property, which includes two high-grade intercepts. Drill hole PLN24-116 tested for mineralization between PLN23-061 (see NR dated May 15, 2023) and PLN23-074 (see NR dated November 13, 2023) on section line 075S and intersected mineralization within a 16.5m interval including 2.05m of off scale radioactivity (>65,535 cps), 1.80m of which is continuous. A thin, lower mineralized zone up to 23,600 cps starting at 272.00m was also intersected and marks the first intersection of strong radioactivity below the JR Zone.

A second diamond drill has also begun coring on the JR Zone before moving approximately 3km grid south to start exploration in the B1 area where drill holes from last year provided strongly encouraging results including significant alteration, structures and highly anomalous geochemistry.

As the Dias 3D resistivity survey is days away from being completed, preparations are underway at site for the next phase of ground geophysics. A stepwise moving loop time domain electromagnetics (SWML) survey totaling approximately 60 line-km will be conducted over the B1 area, with ideal loop size parameters to properly resolve the basement hosted B1 conductor. This new survey will update and refine the Company’s electromagnetic plate model, which will then be integrated with the resistivity data to provide additional drill targets.

Drilling Highlight:

PLN24-116 (line 075S):

• 16.5m mineralization from 224.0m – 240.5m, including
  • 6.05m composite high-grade radioactivity (> 10,000 cps) between 224.85 and 232.40m, including
  • 2.05 composite off-scale radioactivity (> 65,535 cps) between 227.00 and 231.25m, and
  • 0.5m mineralization from 272.00m – 272.5m with up to 23,600 cps

Natural gamma radiation in the drill core that is reported in this news release was measured in counts per second (cps) using a handheld Radiation Solutions RS-125 scintillometer. The Company considers greater than 300 cps on the handheld spectrometer as anomalous, >10,000 cps as high grade and greater than 65,535 cps as off-scale. The reader is cautioned that scintillometer readings are not directly or uniformly related to uranium grades of the rock sample measured and should be used only as a preliminary indication of the presence of radioactive materials. Samples from the drill core are split in half on site and are standardized at 0.5m lengths. One half of the split sample will be submitted to SRC Geoanalytical Laboratories (an SCC ISO/IEC 17025: 2005 Accredited Facility) in Saskatoon, SK. for lithogeochemical analysis using their “Uranium Package”.

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.

Table 1. Drill Hole Summary and Handheld Spectrometer Results

Handheld spectrometer composite parameters:

1: Minimum Thickness of 0.5m
2: CPS Cut-Off of 300 counts per second
3: Maximum Internal Dilution of 2.0m

About Patterson Lake North:

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.

Qualified Person:

The technical information in this news release has been prepare in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and approved on behalf of the company by Raymond Ashley, P.Geo., President & COO of F3 Uranium Corp, a Qualified Person. Mr. Ashley has verified the data disclosed.

About F3 Uranium Corp:

F3 Uranium is advancing the newly discovered high grade JR Zone on the PLN Property in the Western Athabasca Basin. This area of Saskatchewan is poised to become the next Uranium producer and home to large uranium deposits including Tiple R, Arrow and Shea Creek. F3 Uranium currently holds 18 projects across the Athabasca Basin.