F3 Uranium Corp (TSX-V: FUU) (OTCQB: FUUFF) is pleased to announce final assay results from the fall 2023 drill program, including PLN23-110 (see NR dated December 18, 2023) which returned 2.0m of 42.4% U₃O₈ from 226.0m to 228.0m, including 1.5m averaging 55.4% U₃O₈ with a highest grade of 66.8% U₃O₈ in a single 0.5m sample. PLN23-112, drilled from line 060S returned 11.5m averaging 2.00% U₃O₈ from 229.0m to 240.5m including 3.5m averaging 4.24% U₃O₈.

Sam Hartmann, VP Exploration, commented:

“PLN23-110 returned ultra-high grade assays, including the highest assay to date – 66.8% U₃O₈ on section 015S, which remains open in the up-dip direction. At the B1 area, where we initially targeted the B1 EM conductor, significant alteration in sandstone and basement rocks was encountered (see NR dated December 18, 2023) and we are pleased to receive final geochemistry supporting our decision to drill a wide fence with 4 drill holes across approximately 250m of geology. Anomalous basement uranium values were intersected, notably in PLN23-105 with up to 137 ppm uranium; values of greater than 100 ppm uranium have previously only been encountered in PLN14-019 and immediately surrounding holes, as well as within the JR Zone itself.”

The Company is also pleased to announce that it has completed a technical report for its Patterson Lake North Project, including the PLN, Broach and Minto properties, pursuant to National Instrument 43-101 “Standards of Disclosure for Mineral Projects” (“NI 43-101”). The report was completed by lead consultant SLR International Corporation (“SLR”) with an effective date of November 20, 2023, prepared for F3 Uranium Corp. and dated January 25, 2024. The report will be filed on SEDAR within 45 days.

Assay Highlight:

PLN23-110 (line 015S): mineralized intervals

• 2.5m @ 0.23% U₃O₈ (217.0m to 219.5m), and
• 2.0m @ 42.4% U₃O₈ (226.0m to 228.0m), including
• 1.5m @ 55.4% U₃O₈ (226.0m to 227.5m), further including
• 0.5m @ 66.8% U₃O₈ (227.0m to 227.5m)

Main JR Zone Intercepts:

PLN23-101 (line 015S): mineralized intervals

• 11.5m @ 0.39% U₃O₈ (218.5m to 230.5m), including
• 1.5m @ 1.77% U₃O₈ (222.5m to 224.0m), and
• 1.5m @ 2.64% U₃O₈ (227.5m to 229.0m)

PLN23-106 (line 120S): mineralized interval

• 0.5m @ 0.07% U₃O₈ (240.5m to 241.0m)

PLN23-108 (line 030S): mineralized intervals

• 0.5m @ 0.24% U₃O₈ (256.5m to 257.0m), and
• 0.5m @ 0.67% U₃O₈ (260.5m to 261.0m)

PLN23-109 (line 015S): mineralized interval

• 2.5m @ 0.33% U₃O₈ (221.0m to 223.5m)

PLN23-112 (line 060S): mineralized intervals

• 8.0m @ 1.03% U₃O₈ (229.0m to 237.0m), including
  0.5m @ 13.2% U₃O₈ (232.0m to 232.5m), and
• 3.5m @ 4.24% U₃O₈ (237.0m to 240.5m), including
• 0.5m @ 20.0% U₃O₈ (238.0m to 238.5m)

PLN23-114 (line 030S): mineralized intervals

• 3.0m @ 0.05% U₃O₈ (219.5m to 222.5m), and
• 1.5m @ 0.64% U₃O₈ (230.5m to 232.0m), and
• 0.5m @ 0.11% U₃O₈ (235.5m to 236.0m)

Exploration Drilling Highlights:

PLN23-102 (line 3450S), B1 Area:

• 0.5m @ 79 ppm uranium (411.5m to 412.0m) in basement

PLN23-105 (line 3450S), B1 Area:

• 7.5m @ 48 ppm uranium (528.5m to 535.0m) in basement, including
• 0.5m @ 137 ppm uranium (531.5m to 532.0m)

PLN23-111 (line 3450S), B1 Area:

• 3.5m @ 1,198 ppm boron (357.5m to 361.0m) in sandstone, including
• 0.5m @ 2,770 ppm boron (357.5m to 358.0m)

Table 1. Drill Hole Summary and Uranium Assay Results

Assay composite parameters:

1. Minimum Thickness of 0.5 m
2. Assay Grade Cut-Off: 0.05% U₃O₈ (weight %)
3. Maximum Internal Dilution: 2.0 m

Composited weight % U₃O₈ mineralized intervals are summarized in Table 1. Samples from the drill core are split in half sections on site. Where possible, samples are standardized at 0.5m down-hole intervals. One-half of the split sample is sent to SRC Geoanalytical Laboratories (an SCC ISO/IEC 17025: 2005 Accredited Facility) in Saskatoon, SK while the other half remains on site for reference. Analysis includes a 63 element suite including boron by ICP-OES, uranium by ICP-MS and gold analysis by ICP-OES and/or AAS.

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

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

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. The PLN property is part of the PLN Project which also includes the Minto and Broach properties.

Qualified Person:

The technical information in this news release has been prepared 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 a uranium project generator and exploration company, focusing on projects in the Athabasca Basin, home to some of the world’s largest high grade uranium discovery. F3 Uranium currently has 18 projects in the Athabasca Basin. Several of F3’s projects are near large uranium discoveries including Triple R, Arrow and Hurricane.