Mr. Dev Randhawa reports

F3 HITS ANOMALOUS RADIOACTIVITY ON A1B SHEAR 2.6KM SOUTH OF JR ZONE

F3 Uranium Corp. has released results from 13 holes of the continuing summer drill program on the Patterson Lake North (PLN) property, including PLN23-095 2.6 kilometres south of the JR zone testing the recently discovered A1B shear zone, which intersected anomalous radioactivity. Additionally, PLN23-093 was drilled 840 metres farther to the south along strike and intersected intense alteration and dissolution in the sandstone and strongly deformed and clay-altered basement rocks.

Concurrently at the JR zone, PLN23-090 extended off-scale mineralization by 25 metres toward the south from PLN23-062 (see news release dated May 15, 2023). Drill hole PLN23-090 on line 120S intersected mineralization over a 14.0-metre interval, including 1.65 metres of high grade (greater than 10,000 counts per second), of which 0.50 metre was off-scale radioactivity (greater than 65,535 counts per second) between 240.00 metres and 240.50 metres. PLN23-097 on Line 045S intersected mineralization over an 11.0-metre interval, including 2.69 metres of high grade (greater than 10,000 counts per second), of which 0.25 metre was off-scale radioactivity (greater than 65,535 counts per second) between 219.75 metres and 220.00 metres, resulting in a high-grade dip extent of 52 metres on Line 045S.

JR zone drilling as well as exploration drilling continue with two diamond drills and one sonic drill. As a result of the recently oversubscribed private placement (grossing aggregate proceeds of $20-million in flow-through funds (see news release dated Sept. 12, 2023), and strong drilling results, the summer drill program will be further extended into late fall and consist of up to 54 drill holes totalling approximately 20,000 metres.

Raymond Ashley, president, commented: "As the summer drilling program transitions into an expanded fall program, we are starting to focus on exploration drilling, with the goal of characterizing areas for more detailed follow-up drilling during 2024. The A1B EM [electromagnetic] conductor was first confirmed to correspond to a major shear zone with PLN23-078 (see news release [dated] Aug. 14, 2023); PLN23-095 was drilled as a follow-up, testing both the A1 and A1B shear zones on section. This resulted in the intersection of several additional shears ranging in thickness from five to 10 metres both between the A1 and A1B main shear zones as well as beyond the main A1B shear, where PLN23-095 intersected anomalous radioactivity at depth within the approximately 400-metre-wide structural corridor. Drilling at the JR zone continues as well, with some drill holes exploring the peripheral regions to the high-grade mineralization, as well as expanding the high-grade domains on lines 045S and 120S.

"PLN23-093 targeted the A1B main shear near the projected Athabasca unconformity; due to significantly more sandstone than expected, the structure was overshot by approximately 100 metres. The intense sandstone alteration and dissolution was coupled with drill core loss encountered over a 140-metre interval, in line with the projection of the A1B shear, followed by strongly deformed and clay-altered basement rocks. These are features associated with JR zone mineralization on the A1 main shear zone that, coupled with the radioactivity intersected in PLN23-095, reinforce the potential for A1B to host uranium mineralization."

JR zone drilling highlights:

• PLN23-090 (Line 120S):
  • 14.0 metres composite mineralization from 231.5 metres to 248.50 metres;
  • Including 1.65 metres composite mineralization of greater than 10,000 counts per second radioactivity between 239.20 metres and 245.20 metres, including 0.50 metre off-scale radioactivity (greater than 65,535 counts per second) between 240.00 metres and 240.50 metres;
• PLN23-097 (Line 045S):
  • 11.0 metres mineralization from 212.5 metres to 223.5 metres;
  • Including 2.69 metres composite mineralization of greater than 10,000 counts per second radioactivity between 215.65 metres and 224.24 metres, including 0.25 metre off-scale radioactivity (greater than 65,535 counts per second) between 219.75 metres and 220.00 metres.

Exploration drilling highlights:

• PLN23-093 (Line 3450S) -- A1B shear zone:
  • 75.0 metres cumulative core loss in Athabasca sandstone between 140.0 metres and 287.0 metres:
    • Approximately 100 metres up dip of the A1B main shear projection to the unconformity;
    • Indicative of large-scale sandstone dissolution due to intense alteration above the projected A1B shear zone;
• PLN23-095 (Line 2610S) -- A1B shear zone:
  • 0.5 metre radioactivity of 300 counts per second from 610.00 metres to 610.50 metres:
    • First occurrence of anomalous radioactivity, approximately 100 metres past the main A1B shear zone within the 50-metre-wide A1B shear zone complex.

Natural gamma radiation in the drill core that is reported in this news release was measured in counts per second using a hand-held Radiation Solutions RS-125 scintillometer. The company considers greater than 300 counts per second on the hand-held spectrometer as anomalous, greater than 10,000 counts per second as high grade and greater than 65,535 counts per second 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.

All depth measurements reported are downhole 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.

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 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.

We seek Safe Harbor.