Kelowna, British Columbia--(Newsfile Corp. - July 21, 2026) - F4 Uranium Corp. (TSXV: FFU) ("F4" or the "Company") is pleased to announce the commencement of an airborne Mobile MagnetoTellurics (Mobile MT) survey over the western portion of its Wales Lake Project, located just outside of the southwestern Athabasca Basin, in search of the Patterson Lake Corridor (PLC) on Wales Lake. The PLC and its associated parallel trends host two major uranium deposits and three recent high-grade discoveries within 30km to the northeast of the Wales Lake Project. Following the closing of a brokered private placement for gross proceeds of C$1.0 million (see news release dated July 9, 2026), this program is being funded from the placement and is the first phase of work on F4's western Athabasca portfolio which includes Todd and Wales Lake and will be the focus of summer exploration in 2026.

The Patterson Lake Corridor (PLC) is a prolific conductive corridor which hosts both NexGen Energy's Arrow (30km to the northeast) and Paladin's Triple R deposits (22km to the northeast). In addition, the PLC is accompanied by the parallel Saloon Trend which hosts Paladin Energy's newly announced Atlas discovery (20 kms to the northeast), their high-grade Saloon discovery from 2024 and NexgGen Energy's Patterson Corridor East (PCE) discovery (Figure 1). Both highly prospective corridors are interpreted to trend down towards and potentially through F4's Todd and Wales Lake Projects and locating them across the Todd and Wales Properties is the Company's primary objective in the near term.

In 2025, F4 completed the same airborne MT survey on its Todd Lake Project, which already identified possible extensions to the Patterson Lake Corridor (PLC) and the Carter Trends within the Clearwater Domain (see news release dated December 15, 2025). Now in 2026 F4 has contracted Expert Geophysics Surveys Inc. to complete the same survey, which will consist of approximately 700 line kilometres of flying, with the goal of determining if the trends observed on the Todd property continue onto the western extent of the Wales Lake property. The program marks the first work of summer 2026 on F4's Western Athabasca portfolio with plans for additional work on Todd Lake and Wales Lake in the coming months.

Erik Sehn, P.Geo., Vice President Exploration, commented:

"We're excited to kick off our 2026 summer program at Wales Lake. The story here comes down to two of the most prolific corridors in the western Athabasca — the Patterson Lake Corridor, which hosts NexGen's Arrow and Paladin's Triple R deposits, and the parallel Saloon Trend, home to Paladin's new Atlas discovery and NexGen's Patterson Corridor East. Both are interpreted to trend toward our ground, and we suspect they carry on through the Wales Lake Project. Our near-term objective is straightforward — to locate these corridors across our Todd and Wales properties. Last year's Mobile MT survey at Todd Lake picked up resistivity-low trends that line up with the interpreted strike of the Patterson Lake Corridor, and those same features appear to continue toward the western end of Wales Lake. The nearby Tetra Zone discovery, just four kilometres northeast of Todd Lake in the Clearwater Domain, already shows this setting can host high-grade uranium mineralization. This airborne survey is the first step: mapping the corridors geophysically from the air. Based on the results, we will tighten up those targets with ground geophysics, before moving to drill-testing the most prospective of them. With our recently closed financing in place, we're well positioned to move quickly through advancing Wales Lake and the rest of our western Athabasca portfolio this year."

Figure 1. Todd and Wales Lake Map Showing Prospective PLC and Saloon Trends.

To view an enhanced version of this graphic, please visit:
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About the Wales Lake Project:

F4 Uranium's 40,113-hectare Wales Lake Project consists of the Wales Lake East and Wales Lake West properties, both 100% owned, permitted and drill ready with strong airborne and ground conductor targets. Significantly underexplored with only two historic drillholes, the Wales Lake Project is located just outside of the Southwestern Athabasca Basin within 25km of Paladin's Triple R and NexGen Energy's Arrow deposits. A series of recent discoveries including F3 Uranium's JR and Tetra Zones, NexGen Energy's PCE occurrence, and Paladin Energy's Saloon area further highlight the uranium discovery potential near the Southwestern Athabasca Basin.

Wales Lake is accessed by Provincial Highway 955, which transects the property.

About the Todd Lake Project:

F4 Uranium's 100% owned Todd Lake Project is located 14km Southwest of Paladin's Triple R and Nexgen Energy's Arrow deposits and lies along trend of the Patterson Lake corridor which hosts the aforementioned deposits. Significantly underexplored with no historic drilling, the Todd Lake Project is located just outside of the Southwestern Athabasca Basin. A series of recent discoveries including Nexgen Energy's PCE occurrence, Paladin Energy's Saloon area and F3 Uranium's JR and Tetra Zones, the latter located just 4km Northeast of the top of Todd Lake, further highlight the uranium discovery potential near the Southwestern Athabasca Basin. Todd Lake is accessed by Provincial Highway 955, located to the east of the property.

Qualified Person

The technical information in this news release has been reviewed and approved on behalf of the Company by Sam Hartmann, P.Geo., President & Chief Operating Officer of F4, and a qualified person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects.

This news release also refers to neighboring properties in which F4 Uranium has no interest, and the Qualified Person has been unable to verify the information from those properties. Mineralization on those neighboring properties is not necessarily indicative of mineralization on the Wales Lake Project. For additional information on the Wales Lake Project, please refer to the reports titled "Technical Report for the Wales Lake West Property, Northern Saskatchewan, Canada" dated February 3, 2025 and "Technical Report for the Wales Lake East Property, Northern Saskatchewan, Canada" dated May 12, 2025, both available at www.sedarplus.ca, and prepared in accordance with NI 43-101.

About F4 Uranium Corp:

F4 Uranium is a Canadian uranium exploration company focused on the Athabasca Basin in northern Saskatchewan, led by the management and exploration team behind multiple uranium discoveries in the Basin, including most recently Patterson Lake North and Broach Lake. The project portfolio comprises 16 wholly owned properties totaling approximately 157,000 hectares, several of which sit near established uranium deposits including Paladin's Triple R, NexGen Energy's Arrow and IsoEnergy's Hurricane. The assets were spun out of F3 Uranium in 2024. F4's exploration program is split between the west and east sides of the Athabasca Basin, with the Company operating as both an explorer and project generator providing investors early-stage exposure to the Basin.

ON BEHALF OF THE BOARD,
"Ray Ashley"
Raymond Ashley, CEO
F4 Uranium Corp.

Forward-Looking Statements

This news release contains certain forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, including statements regarding the suitability of the Properties for mining exploration, future payments, issuance of shares and work commitment funds under the existing option agreement, and completion of the planned exploration program, are "forward-looking statements". These forward-looking statements reflect the expectations or beliefs of management of the Company based on information currently available to it. Forward-looking statements are subject to a number of risks and uncertainties, including those detailed from time to time in filings made by the Company with securities regulatory authorities, which may cause actual outcomes to differ materially from those discussed in the forward-looking statements. These factors should be considered carefully and readers are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

The TSX Venture Exchange has not reviewed, approved or disapproved the contents of this press release, and does not accept responsibility for the adequacy or accuracy of this release.

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