Vancouver, British Columbia--(Newsfile Corp. - May 14, 2026) - Manhattan Uranium Discovery Corp. (TSXV: MANU) (OTC Pink: MAUUF) (FSE: J5B0) ("Manhattan" or the "Company") is pleased to provide investors with an overview of its consolidated uranium portfolio, which now encompasses 15 past-producing uranium mines across 25 underexplored U.S. properties covering 25,099 acres in the Colorado Plateau and Nevada, complemented by high-grade discovery-stage exposure in Canada's Athabasca Basin.
"Manhattan's consolidated portfolio provides an opportunity to gain exposure to a pure-play, district-scale North American uranium platform at an early stage of what we believe will be a sustained domestic uranium cycle. With over $11.5 million in cash and a proven technical team, we have the scale, focus, and financial flexibility to execute our 2026 exploration and drilling programs and beyond. We are building this company for the long term, at exactly the right time for uranium," stated William Sheriff, Chairman of Manhattan.
"The uranium sector is entering a new era of domestic strategic importance, and Manhattan is exceptionally well-positioned to capitalize on it. Our consolidated portfolio, experienced board, and strong treasury give us the foundation to move quickly, advance our most compelling projects, and create lasting value for shareholders," stated Galen McNamara, CEO of Manhattan.
I-70 and Melinda Projects - San Rafael District, Utah, USA
Premier Utah Uranium District: The San Rafael District ranks #2 in Utah for established unmined uranium resources, with 4.5M lbs U₃O₈ and 3.6M lbs V₂O₅ produced historically at reported grades of 0.27% U₃O₈ / 0.20% V₂O₅1.
I-70 Project - Active Permit & Expanded Footprint: Active underground mining permit, thousands of drill holes, and a land package expanded ~255% to 4,416 acres through the Jupiter and Energy Sands additions.
Historical Mineral Resource Base: Historical resources total ~543,245 lbs U₃O₈ (Indicated, within 159,217 tons at 0.16% U₃O₈) and ~1,400,000 lbs U₃O₈ (Inferred, within 466,666 tons at 0.15% U₃O₈)2, with historical drill hole compilation underway in the lead up to mineral resource verification drilling.
Melinda Property - Drill Permit Approved: Features significant radiometric anomalies, hundreds of historical drill holes, and a new drill permit approved to support near-term target testing.
Uranium-Vanadium Pipeline, Streamlined Permitting & Mill Proximity: Later-stage discoveries from the late 1970s remain largely undeveloped, providing an active uranium-vanadium target pipeline. Utah's Agreement State status supports state-level permitting and potentially faster development timelines. Projects sit within trucking distance of the White Mesa Mill, the only operating conventional uranium mill in the United States.
Lisbon & Sun Projects - Lisbon Valley District, Utah, USA
Utah's Most Prolific Uranium District: Ranked #3 in Utah for established uranium resources and the state's most prolific producing district, with 77.9M lbs U₃O₈ produced at an average grade of 0.30% U₃O₈ and 10.3M lbs V₂O₅ co-produced, demonstrating a significant deposit potential1.
Advanced-Stage North Lisbon & District-Scale Upside: North Lisbon is the most advanced asset in the Lisbon holding, with historical resource estimates of ~3,347,000 lbs U₃O₈ across 1,256,000 tons (0.133% eU₃O₈)2. Central Lisbon and the Sun Project offer earlier-stage district-scale upside, situated adjacent to the historical Mi Vida Mine.
Vanadium By-Product Optionality: Uranium-vanadium co-mineralization across the Lisbon Valley Trend adds meaningful by-product revenue potential, further strengthening project economics.
La Sal & Blue Jay Projects - La Sal District, Utah, USA
Additional Utah Potential: The La Sal District is ranked #4 for established uranium resources and has been the second most prolific uranium producer in the state of Utah having produced 6.0 million pounds of U₃O₈ through 2021 with an average grade of 0.35% U₃O₈ 1.
Strategic Land Position: Manhattan controls ~2,700 acres across four claim blocks in the La Sal District, adjacent to Energy Fuels' active Pandora, La Sal, and Beaver mines.
Blue Jay Project: Hosts the historical Blue Jay Mine with a 1981 historical resource estimate of ~110,000 lbs U₃O₈ at ~0.25%3. Excellent exploration upside within the largest favorable channel trend in the western district.
West La Sal: Covers the historical Bandit and Sunset Mines with detailed Union Carbide data confirming mineralization extending onto the property.
Figure 1: I70 and Melinda project locations within the San Rafael uranium district, Utah
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Figure 2: Lisbon and Sun project locations within the Lisbon Valley uranium district, Utah
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Figure 3: Blue Jay, West La Sal and East La Sal projects in the La Sal uranium district, Utah
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Apex Uranium Project - Nevada, USA
Nevada's Largest Past-Producing Uranium Mine: The Apex Mine is the largest uranium producer in Nevada's history, accounting for approximately 50% of the state's all-time output. Historical production grades averaged ~0.25% U₃O₈, with bulk samples reported up to 0.70% U₃O₈4.
Significant Infrastructure & High-Grade Indications: The project hosts 2,600 feet of existing underground development across three mining levels. Surface sampling has returned up to 1.00% U₃O₈ across approximately 3 km of uranium showings. Key historical drill intercepts include 34.1m of 0.37% U₃O₈ (Hole 7A) and 15.2m of 0.51% U₃O₈ (Hole 17)5, warranting modern follow-up drilling.
Drill Permits Expected H1 2026: Manhattan anticipates receipt of drill permits at Apex in H1 2026, with initial drilling designed to validate historical mineralization and advance the project toward a resource estimate.
Figure 4: Apex uranium project, Nevada
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Athabasca Basin Projects - Saskatchewan, Canada
Fully Funded 25-30 Hole Program: The Company, along with its joint venture partner, Fortune Bay Corp., are making final preparations for a drill program set to commence in June 2026.
Murmac Project: A 2024 discovery hole returned 8.4m of 0.3% U₃O₈, including 1.2m of 1.79% U₃O₈ (hole M24-017)6. The project features multiple conductor trends with over 50 km of strike largely unexplored for basement-hosted vein deposits analogous to Arrow and Triple R, with radioactive groundwater springs returning up to 15,000 counts per second above untested conductors.
Strike Project: Basement-hosted mineralization confirmed at the Tena Zone, where over 1,000 tons were historically mined in the 1950s at reported grades of 0.6-3.5% U₃O₈. First drilling intersected anomalous uranium in 3 of 9 holes. High grade grab samples of 23% and 27% U₃O₈ highlight high-grade potential across the J, K, and L conductor trends 7.
Figure 5: Murmac uranium project, Athabasca Basin, Saskatchewan
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Figure 6: Strike uranium project, Athabasca Basin, Saskatchewan
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Strategic Appointment
Manhattan is pleased to announce the appointment of Spencer MacLean as President. Mr. MacLean brings over a decade of capital markets experience spanning equity and debt financings, mergers and acquisitions, and corporate strategy, with a particular focus on the junior mining and natural resources sectors. A member of the Law Society of British Columbia and the Canadian Bar Association, Mr. MacLean's combination of legal expertise and capital markets experience strengthens Manhattan's leadership team as the Company advances its high-quality uranium portfolio across the Colorado Plateau, Nevada and the Athabasca Basin in Saskatchewan.
Marketing Services Agreement
The Company has entered into an investor relations and digital marketing services agreement (the "Winning Media Agreement") with Winning Media LLC ("Winning Media"), a digital marketing agency headquartered in Houston, Texas.
Under the terms of the Winning Media Agreement, Winning Media will provide a range of investor relations and digital marketing services, including programmatic advertising, financial content distribution, influencer outreach, native advertising, podcast placements, email and SMS campaigns, and other online marketing initiatives designed to increase market awareness of the Company.
The Winning Media Agreement is for an initial term of three months, commencing upon and subject to TSX Venture Exchange (the "TSXV") acceptance. In consideration for the services, the Company will pay Winning Media a total fee of US$50,000 upon TSXV acceptance. Winning Media and its principals are arm's length to the Company and, to the knowledge of the Company, do not beneficially own, directly or indirectly, any securities of Manhattan. Winning Media is not engaged in market-making activities.
Manhattan has engaged EDM Media LLC ("EDM Media"), a public relations and communications agency headquartered in Dallas, Texas, to serve as its Investor Relations Advisor for a term of three months commencing upon and subject to TSXV acceptance. Under the terms of the investor relations and digital marketing services agreement with EDM Media, EDM Media will receive total compensation of CAD $25,000 upon TSXV acceptance. EDM Media and its principals are arm's length to the Company and, to the knowledge of the Company, do not beneficially own, directly or indirectly, any securities of Manhattan. EDM Media is not engaged in market-making activities.
EDM Media's investor relations campaign will encompass a diverse and strategic mix of marketing initiatives including owned media, social media outreach, ticker-indexed articles, financial influencers and short-form video content, paid advertising strategies, partner/subcontractor syndication, and targeted outreach across stock-specific platforms.
The Company also announces that it has entered into a marketing services agreement (the "Oregon Agreement") with the Oregon Group ("Oregon"). The scope of services to be provided by Oregon includes written content and media dissemination.
The Oregon Agreement has a term of 12 months, under which the Company will pay Oregon a budget of US$15,000 upon TSXV acceptance, for the services with an option to increase the budget to a maximum of US$45,000 over the 12-month term. The Oregon Agreement is subject to TSX Venture Exchange acceptance. Oregon is a privately held firm specializing in market research, reporting and enhancing clients' visibility. Oregon is headquartered in Delaware and serves clients across a range of industries, with a focus on critical minerals and energy intelligence.
Oregon and its principals are arm's length to the Company, and to the knowledge of the Company, do not beneficially own, directly or indirectly, any securities of the Company. Oregon is not engaged in market-making activities.
Technical Disclosure
The Company has no interest in, or rights to, any of the adjacent properties mentioned in this news release, including the Mi Vida, Pandora, La Sal and Beaver mines, and exploration results on adjacent properties are not necessarily indicative of mineralization on the Company's properties.
This news release includes historical information that has been reviewed by the Company's qualified person. The Company's review of the historical records and information reasonably substantiate the validity of the information disclosed in this news release. The historical information is subject to all of the assumptions, qualifications and procedures set out in the applicable sources, and the Company encourages readers to exercise appropriate caution when evaluating these data and/or results.
A Qualified Person has not done sufficient work to make the historical mineral resource estimates disclosed in this news release current, and the Company is not treating such historical mineral resource estimates as current. The historical mineral resource estimates were prepared prior to the adoption of the current CIM Definition Standards and QA/QC practices, and the categories used in the historical mineral resource estimates predate, and are not directly comparable to, current CIM Definition Standards. To upgrade and verify the historical mineral resource estimates in order to make them current mineral resource estimates, the Company would be required to undertake additional data review, compilation and confirmatory exploration, including drilling, followed by the preparation of new mineral resource estimates in accordance with CIM Definition Standards and National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"). The Company encourages readers to exercise appropriate caution when evaluating these historical mineral resource estimates.
Qualified Person
The scientific and technical information contained in this news release has been reviewed and approved by Galen McNamara, P.Geo., CEO and Director of Manhattan, who is a Qualified Person as defined by NI 43-101. Mr. McNamara is not independent of the Company.
About Manhattan
Manhattan Uranium Discovery Corp. (TSXV: MANU) (OTC Pink: MAUUF) (FSE: J5B0) is a newly consolidated North American uranium company committed to the discovery, development, and advancement of high-quality uranium assets. Following the successful acquisitions of Urano Energy and Pegasus Resources, Manhattan now holds a premier portfolio of 15 past-producing uranium mines across 25 underexplored properties covering 25,099 acres in the United States, complemented by high-grade exploration potential in Canada's Athabasca Basin.
Backed by an elite technical and management team with decades of uranium discovery, project advancement, and capital markets experience, Manhattan is strategically positioned to capitalize on the growing demand for domestic uranium and the American nuclear renaissance.
For more information about Manhattan, please visit: www.manhattanuranium.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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References
Mills, S.E. and Jordan, B., 2021, Uranium and vanadium resources of Utah-an update in the era of critical minerals and carbon neutrality: Utah Geological Survey Open-File Report 735.
Gillingham, T.E., 1984, Atlas Controlled Uranium and Vanadium Ore Reserves Tributary to Moab (Utah) Mill, Unpublished Atlas Corp internal letter to E.R. Farley, President of Atlas Corp.
Gloyn, R.W., and Ken Krahulec, 2005, Uranium Potential in Utah, Utah Geological Survey, Salt Lake City, Utah, 54 p.
Nevada Bureau Mines File 60000269, Report on Mines of Apex Minerals Corporation 1957, by Harry H. Hughes, Mining Geologist.
Nevada Bureau Mines File 38900096, Transverse Section Through Drilled Orebody, Apex Minerals Corp 1959, by Harry Hughes, Mining Geologist.
Manhattan, News Release, October 8, 2024 (https://aeroenergy.ca/2024/aero-energy-and-fortune-bay-confirm-shallow-high-grade-uranium-discovery-up-to-13-80-u3o8/).
https://aeroenergy.ca/north-basin-projects/strike-project/.
FORWARD-LOOKING STATEMENTS
This news release contains "forward-looking statements" and "forward-looking information" within the meaning of applicable Canadian and United States securities legislation (collectively, "forward-looking statements"). All statements in this release, other than statements of historical fact, are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as "may", "will", "expect", "intend", "believe", "anticipate", "estimate", "target", "plan", "potential", "could" or similar terminology. Forward-looking statements in this release include, without limitation the results from work performed to date; the estimation of mineral resources; the realization of mineral resource estimates; the development, operational and economic results of technical reports on mineral properties referenced herein; magnitude or quality of mineral deposits; the anticipated advancement of the Company's mineral properties and project portfolios, including but not limited to proposed drilling programs referenced herein, including the timing, scope and execution thereof; exploration expenditures, costs and timing of the development of new deposits; underground exploration potential; costs and timing of future exploration; the completion and timing of future development studies; estimates of metallurgical recovery rates; exploration prospects of mineral properties; requirements for additional capital; the future price of metals; government regulation of mining operations; environmental risks; the timing and possible outcome of pending regulatory matters; the realization of the expected economics of mineral properties; future growth potential of mineral properties; and future plans, projections, objectives, estimates and forecasts and the timing related thereto.
Forward-looking statements are based on management's current beliefs, expectations and assumptions, including, without limitation: that historical information is reliable; that future exploration activities will proceed as currently anticipated; that permits, equipment, personnel and contractors will be available on commercially reasonable terms; and that current commodity prices, labour availability, cost and regulatory frameworks will remain consistent with management's expectations. Although management considers these assumptions to be reasonable based on currently available information, they may prove to be incorrect.
Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation: the risk that historical data may prove to be inaccurate or unverifiable; that exploration results may not support further work or drilling; that exploration activities may be delayed, restricted or not carried out as planned; that permits may be delayed or revoked; the absence of adverse conditions at mineral properties; the price of silver and other metals remaining at levels that render mineral properties economic; the Company's ability to continue raising necessary capital to finance operations; and the ability to realize on any mineral resource and reserve estimates; the Company's ability to complete its planned exploration programs; environmental regulations or hazards and compliance with complex regulations associated with mining activities; climate change and climate change regulations; fluctuations in exchange rates; the business objectives of the Company; whether economic mineralization can be defined and, if it can be permitted for development; the uncertainty that any mineralization encountered on adjacent properties continues on to any of the Company's properties; the uncertainty that geological and/or geophysical and/or any trends, interpretations, or conclusions related to adjacent properties have relevance to any of the Company's properties; the uncertainty that the exploration season can be extended; changes in project parameters as plans to continue to be refined; the consequences and implications of the historical mining activities on the environment and whether such affects the potential exploration and/or development of any mining operation the Company's properties; the implications of claims from First Nations, Tribes, Tribal Councils or Tribal Governments and land claims settlements on the Company's projects; accidents, labour disputes and other risks of the mining industry, conclusions of economic evaluations; meeting various expected cost estimates; benefits of certain technology usage; future prices of metals; possible variations of mineral grade or recovery rates; geological, mining and exploration technical problems; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry; title to properties; operational, technical and geological risks inherent in mineral exploration; changes in capital markets, economic conditions, regulatory developments and stakeholder relations; the other risks set out in the Company's public disclosure record under its profile on SEDAR+ (www.sedarplus.ca) and management's ability to anticipate and manage the foregoing risks and uncertainties.
The Company provides no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company does not undertake to update any forward-looking statements, other than as required by law.
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