Mr. Dev Randhawa reports

F3 BEGINS FIRST HOLE OF STEP OUT DRILLING AT PLN

The summer drilling program at F3 Uranium Corp.'s 100-per-cent-owned Patterson Lake North (PLN) project has begun. The extensive summer program will expand on the successful winter program with one drill continuing JR zone stepout drilling and a second drill exploring for new zones of mineralization. F3 will also conduct an airborne electromagnetic geophysical survey over the majority of property to develop new exploration drill targets.

Raymond Ashley, president, commented:

"We are very glad that the summer program is under way. The technical team is not only eager to continue to establish the size potential of the JR zone, the newest high-grade uranium discovery in the Athabasca basin, but also excited that the scope of the summer program includes exploration drilling for new zones of uranium mineralization as well as property-wide geophysical exploration to develop new exploration drill targets."

The winter program defined the JR zone to a current strike length of 105 metres and established strong continuity of high-grade uranium mineralization toward the south where drill hole PLN23-060, collared 60 m away from the discovery hole, intersected high-grade mineralization over significant widths in basement rocks (see press release dated Dec. 21, 2022), with a 14.5 m interval averaging 9.4 per cent triuranium octoxide (from 238.5 m to 253.0 m) including an ultrahigh-grade 5.0 m interval averaging 26.7 per cent U3O8 (see press release April 17, 2023). The two holes drilled farthest to the south of the discovery hole, 75 m and 90 m respectively, intersected the ultrahigh-grade core with individual samples returned in excess of 20.0 per cent U3O8.

The primary objective of the summer program will be to further extend the mineralized strike length of the JR zone through stepout drilling, particularly to the south, as well as to expand the JR zone toward the Athabasca unconformity. Exploration holes will also be drilled to test for unconformity or sandstone-hosted mineralization, and to explore for new zones of mineralization along the A1 Main shear zone, the structure which hosts the JR zone and which extends about four kilometres to the southeast, targeting areas of anomalous geochemistry from the previous drilling by F3. The second diamond drill and second sonic drill are scheduled to commence in early July. The modern airborne electromagnetic survey to be flown this summer over the southern two-thirds of the property, where there are currently only historic airborne electromagnetic data, stands to resolve conductors not recognizable in the historic data sets. Any newly identified conductors can be detailed with ground geophysics in the future and upgraded to exploration drill targets.

About Patterson Lake North

The company's large 39,946-hectare 100-per-cent-owned Patterson Lake North property (PLN) is located just within the southwestern edge of the Athabasca basin in proximity to Fission Uranium's Triple R and NexGen Energy's Arrow high-grade uranium deposits, an area 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 23 kilometres northwest of Fission Uranium's Triple R deposit.

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, PGeo, president and chief operating officer of F3 Uranium, 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 16 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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