Mr. Dev Randhawa reports

F3 HITS 4.0M OF 29.3% U3O8 WITHIN 10.3% OVER 12.0M

F3 Uranium Corp. has released initial assay results for the continuing drill program, including PLN23-079 (see news release dated Aug. 14, 2023), which returned 12 metres of 10.3 per cent U3O8 (triuranium octoxide), including a high grade 6.5 m interval averaging 18.9 per cent U3O8, further including an ultrahigh grade core of 2.5 m of 38.8 per cent U3O8.

A 3-D DCIP (direct current induced polarization) survey by Dias Geophysical is currently under way, with an initial focus on the JR zone and A1B areas. F3 anticipates those survey results to provide additional input into the geological and geophysical models of the A1 and A1B areas, including the JR zone, which will enhance drill targeting for the continuing fall drill program and beyond.

Assay highlights:

• PLN23-079 (line 045S) mineralized intervals:
  • 12 m at 10.3 per cent U3O8 (231.5 m to 243.5 m), including:
    • 6.5 m at 18.9 per cent U3O8 (233 m to 239.5 m), including:
      • 2.5 m at 38.8 per cent U3O8 (235.5 m to 238 m).
• Main JR zone intercepts:
  • PLN23-063 (line 030S) mineralized intervals:
    • 11.5 m at 0.63 per cent U3O8 (233 m to 244.5 m), including:
      • Two m at 1.97 per cent U3O8 (236 m to 238 m); and
      • One m at 1.75 per cent U3O8 (243.5 m to 244.5 m).
  • PLN23-064 (line 105S) mineralized intervals:
    • 16.5 m at 0.53 per cent U3O8 (233.5 m to 250 m), including:
      • 5.5 m at 1.21 U3O8 (237.5 m to 243 m).
  • PLN23-073 (line 060S) mineralized intervals:
    • 8.5 m at 2.14 per cent U3O8 (221.5 m to 230 m), including:
      • One m at 17.2 per cent U3O8 (225 m to 226 m).
  • PLN23-074 (line 075S) mineralized intervals:
    • 15 m at 0.37 per cent U3O8 (225 m to 240 m), including:
      • 0.5 m at 2.58 per cent U3O8 (228 m to 228.5 m); and
      • 0.5 m at 1.64 per cent U3O8 (233 m to 233.5 m).
  • PLN23-077 (line 090S) mineralized intervals:
    • 10 m at 0.37 per cent U3O8 (226.5 m to 236.5 m), including:
      • One m at 2.24 per cent U3O8 (234 m to 235 m).

Assay composite parameters:

1. Minimum thickness of 0.5 m;
2. Assay grade cut-off: 0.05 per cent U3O8 (weight per cent);
3. Maximum internal dilution: two m.

Composited weight-per-cent U3O8 mineralized intervals are summarized in the table entitled "Drill hole summary and uranium assay results." Samples from the drill core are split in half on site. Where possible, samples are standardized at 0.5 m downhole intervals. One-half of the split sample is sent to SRC Geoanalytical Laboratories (an SCC ISO/IEC 17025: 2005 accredited facility) in Saskatoon, Sask., while the other half remains on site for reference. Analysis includes a 63 element suite, including boron by ICP-OES (inductively coupled plasma optical emission spectrometry), uranium by ICP-MS (inductively coupled plasma mass spectrometry), and gold analysis by ICP-OES and/or AAS (atomic absorption spectroscopy).

The company considers uranium mineralization with assay results of greater than 1 weight per cent U3O8 as high grade and results greater than 20 weight per cent U3O8 as ultrahigh grade.

All depth measurements reported are downhole and true thickness is 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-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 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 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 advancing the newly discovered high-grade JR zone on the PLN property in the western Athabasca basin. This area of Saskatchewan is poised to become a major uranium-producing region and is home to large deposits, including Triple R, Arrow and Shea Creek. F3 Uranium currently holds 18 projects across the Athabasca basin.

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