Mr. Dev Randhawa reports

F3 DRILLS 2.0M OF 20.6% U3O8 WITHIN 7.56% OVER 5.5M AT JR ZONE AND ENCOUNTERS STRONGLY ANOMALOUS BORON IN SANDSTONE AT A1B

F3 Uranium Corp. has released additional assay results for the continuing drill program, including PLN23-086 (see news release dated Aug. 14, 2023), which returned 5.5 metres of 7.56 per cent U3O8 (triuranium octoxide), including an ultrahigh-grade two m interval averaging 20.6 per cent U3O8. At the A1B area, drill hole PLN23-093 encountered a two m interval averaging 5,557 parts per million boron in highly altered Athabasca sandstone, approximately 17 m from the unconformity along the A1B shear.

Sam Hartmann, vice-president, exploration, commented:

"In addition to high-grade assay intercepts reported in the JR zone, we are pleased to discuss our first geochemical exploration drilling results from the A1B area; drill hole PLN23-093, where intense sandstone and basement alteration was previously reported, returned a two m interval with significant individual boron values between 3,000 and 10,000 ppm. Boron values over 5,000 ppm, associated with dravite veining and breccias, have previously only been intersected on the property within Athabasca sandstone immediately above the JR zone, 3.5 kilometres away.

"PLN23-095, which was a deeper target intercept approximately 800 m grid north of PLN23-093, previously reported anomalous radioactivity up to 300 cps [counts per second] within a fault system related to the A1B conductor; this returned basement-hosted uranium values up to 58 ppm. To put that into context, PLN23-071 (see news release dated July 17, 2023) on line 165S returned a maximum of 51 ppm uranium in the A1 shear, 45 m along strike away from high-grade mineralization within the JR zone. It is our view that in comparison to the JR zone, the A1B system represents an area of widespread structural complexity, with evidence of significant reactivated reverse structures extending into the sandstone. With this complexity also comes opportunity and I see the A1B shear area among the most prospective places to make the next discovery, considering these first geochemistry results. Going forward we will refer to the A1B shear zone as B1 to differentiate it more clearly from the A1 shear zone, as a separate structure."

Assay highlights

PLN23-086 (line 045S) -- mineralized intervals:

• 2.5 m at 0.18 per cent U3O8 (221.5 m to 224 m);
• 5.5 m at 7.56 per cent U3O8 (229.5 m to 235 m), including:
  • Two m at 20.6 per cent U3O8 (232 m to 234 m), further including:
    • 0.5 m at 35.7 per cent U3O8 (232.5 m to 233 m).

Main JR zone intercepts

PLN23-084 (line 075S) -- mineralized intervals:

• 12.5 m at 0.39 per cent U3O8 (232 m to 244.5 m), including:
  • One m at 2.22 per cent U3O8 (237.5 m to 238.5 m).

PLN23-090 (line 120S) -- mineralized intervals:

• 10 m at 1.29 per cent U3O8 (232 m to 242 m), including:
  • 2.5 m at 4.33 per cent U3O8 (239 m to 241.5 m).

PLN23-097 (line 045S) -- mineralized intervals:

• 13 m at 1.34 per cent U3O8 (210 m to 223 m), including:
  • 4.5 m at 3.52 per cent U3O8 (215.5 m to 220 m).

Exploration drilling highlights

PLN23-093 (line 3450S), B1 area (formerly A1B):

• Two m at 5,557 ppm boron (354.5 m to 356.5 m) in sandstone, including:
  • 0.5 m at 10,800 ppm boron (355 m to 355.5 m).

PLN23-095 (line 2610S), B1 area (formerly A1B):

• 24.5 m at 25 ppm uranium (602 m to 626.5 m) in basement, including:
  • 3.5 m at 41 ppm uranium (604.5 m to 608 m), further including:
    • 0.5 m at 58 ppm uranium (607.5 m to 608 m).

Composited weight per cent U3O8 mineralized intervals are summarized herein. Samples from the drill core are split in half sections on site. Where possible, samples are standardized at 0.5 m down-hole 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 inductively coupled plasma optical emission spectroscopy, uranium by inductively coupled plasma mass spectrometry and gold analysis by ICP-OES and/or 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 down hole 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-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 km 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, 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.

We seek Safe Harbor.