Mr. Esen Boldkhuu of UraniumX reports

URANIUMX EXTENDS MURPHY LAKE CONDUCTORS BY 1.45 KM; DRILL PROGRAM TO COMMENCE MID-M

Further to the news release dated March 18, 2026, the moving loop electromagnetic ground geophysical survey at the Murphy Lake property in the northeastern Athabasca basin has been completed. The survey was operated by F4 Uranium Corp. and fully financed by UraniumX.

Survey results

Preliminary interpretation of the new data shows that the prospective conductor systems have been extended by an additional 1.45 kilometres, significantly increasing the size of the high-priority target area.

The new conductor extensions display a strong correlation with basement resistivity lows, particularly in the corridor between two key historic drill holes. Drill hole ML22-012, located at the northern end of the survey area, intersected strongly anomalous uranium geochemistry in the Athabasca sandstone (up to 56 parts per million uranium) immediately above the unconformity. Drill hole ML22-006 returned a radioactive intercept assaying 0.065 per cent triuranium octoxide over 2.5 metres, including 0.242 per cent U3O8 over 0.5 metre, within a 4.2-metre-wide deformation zone from 322.5 m to 324.5 m, approximately 20 metres below the Athabasca unconformity (see F3 Uranium news release dated Aug. 10, 2022).

The expanded strike length increases the prospective corridor connecting these two historic intercepts and supports the targeting rationale for the company's coming drill program.

Drill program

Drilling at Murphy Lake is scheduled to commence in mid-May, 2026. F4 is the operator of the drill program, which is being financed by UraniumX in accordance with the terms of the option agreement (see F4 news release dated Feb. 2, 2026). The program is fully financed.

"The survey extended the conductors into areas we had not previously covered, adding 1.45 km of strike length between our two key drill holes. What the previous programs lacked was tight enough geophysical coverage to know exactly where to put the next holes, and we now have that. The drill targets are being finalized, and we look forward to commencing drilling in the middle of May," said Esen Boldkhuu, chief executive officer of UraniumX.

About Murphy Lake

The 609-hectare Murphy Lake property is located in the northeastern Athabasca basin, approximately 30 kilometres northwest of Orano's McClean Lake deposits, five km south of IsoEnergy Ltd.'s Hurricane deposit, three km from the Cosa Resources Cyclone structural trend and four km east of Cameco Corp.'s La Rocque Lake uranium zone. F4's 2022 maiden drill program at the property comprised 14 drill holes totalling 6,850 metres and confirmed a geological setting consistent with the unconformity-hosted uranium deposit model that characterizes the major deposits in the eastern Athabasca basin.

This news release contains references to neighbouring properties in which UraniumX has no interest. Mineralization on neighbouring properties is not necessarily indicative of mineralization at Murphy Lake.

Qualified person

The technical information in this news release has been reviewed and approved by Ken Wheatley, PGeo, a qualified person as defined under National Instrument 43-101 (Standards of Disclosure for Mineral Projects).

About UraniumX Discovery Corp.

UraniumX is a Canadian-based junior uranium exploration company focused on advancing high-potential assets in Saskatchewan's Athabasca basin, one of the world's premier uranium districts. The company's portfolio includes the Murphy Lake, Zoo Bay and NeoCore uranium properties, strategically positioned along the eastern margin of the basin near established infrastructure and high-grade deposits. UraniumX's exploration programs integrate geophysics, drilling and academic research collaborations to enhance target generation and discovery potential.

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