Aero Announces Winter Drill Targets at the Murmac Uranium Project

Rhea-AI Summary

Aero Energy has announced its final drill targets for the Winter 2025 program at the Murmac Uranium Project in Saskatchewan. The selection follows a successful radon-in-water survey at Howland Lake that identified multiple strong anomalies along strike of high-grade uranium intersections from summer 2024.

The program includes up to six drill holes (~900 metres) targeting four primary locations. Key highlights include three distinct radon anomalies near previous intersection M24-017 (which showed 8.40m at 0.30% U₃O₈, including peaks of 13.80% U₃O₈), and another strong anomaly at Howland Lake South near M22-012. The survey detected highly anomalous radon concentrations up to 130 pCi/L.

Drilling is scheduled to begin in March 2025, subject to ice conditions. The project is being advanced under an Option Agreement with Fortune Bay Corp., with Aero fully funding the exploration program.

Positive

• Previous drilling yielded high-grade uranium results (8.40m at 0.30% U₃O₈, with peaks of 13.80%)
• Multiple strong radon anomalies identified, with concentrations up to 130 pCi/L
• Historical grab samples in Target 1 area returned up to 7% eU₃O₈

Negative

• None.

Radon-in-Water Survey Identifies Multiple High-Priority Targets for Winter 2025 Drilling

Vancouver, British Columbia--(Newsfile Corp. - February 20, 2025) - Aero Energy Limited (TSXV: AERO) (OTC Pink: AAUGF) (FSE: UU3) ("Aero" or the "Company") is pleased to announce the final selection of drill targets for the upcoming Winter 2025 drill program at the Murmac Uranium Project ("Murmac" or the "Project"), located near Uranium City, Saskatchewan. These targets are supported by the successful completion of a radon-in-water survey at Howland Lake, which has defined multiple strong anomalies along strike of high-grade uranium drill intersections obtained during the summer 2024 program.

The Murmac Project is being advanced under an Option Agreement executed on December 15, 2023, between Aero and Fortune Bay Corp. ("Fortune Bay"). Aero Energy is fully funding the exploration program, with drilling operated by Fortune Bay.

Winter 2025 Exploration Program Highlights

• Lake Water Radon Anomalies:

  • Three distinct radon-in-water anomalies have been identified along strike of M24-017, which intersected 8.40 m at 0.30% U₃O₈, including individual assays up to 13.80% U₃O₈ over 0.10 m.

  • An additional strong radon anomaly was detected at Howland Lake South, along strike of M22-012, which previously intersected 0.17% U₃O₈ over 0.10 m in structured graphitic rocks.

  • These radon anomalies directly overlie key electromagnetic ("EM") conductors, which are known to host basement uranium mineralization in the Athabasca Basin.

• Drill Target Selection:

  • Drill targets have been refined using multiple criteria, including radon-in-water anomalies, EM conductor breaks, structural complexity, and historically mineralized cross-faults.

• Drilling Program:

  • Up to six drill holes (~900 metres) are planned for Winter 2025, targeting radon anomalies and unexplored graphitic corridors at Howland Lake North and South.

  • A drilling contract has been finalized, and drilling is scheduled to begin in March 2025, subject to ice conditions.

Galen McNamara, CEO of Aero Energy, commented: "The results from the radon-in-water survey have given us strong, focused drill targets at Murmac, directly overlying key graphitic conductors and high-grade uranium intersections. We now have multiple priority targets for the upcoming winter drill program, and with high-grade uranium already intersected in 2024, we are eager to follow up on these promising zones. Data from the Murmac Project continues to demonstrate the potential for a significant uranium discovery on the northern rim of the Athabasca Basin."

Radon-In-Water Survey Overview

Radon-in-water surveys are an effective exploration tool in the Athabasca Basin, as radon gas is a direct decay product of uranium and accumulates in lake-bottom water above uranium-rich rocks. The survey at Howland Lake was conducted by RadonEX Ltd., with 350 samples collected along strike of the high-grade uranium intercepts from the 2022 and 2024 drill programs.

Key results include:

• Highly anomalous radon concentrations of up to 130 pCi/L (picoCuries per litre) on a daily median-adjusted basis.

• Background radon levels in Howland Lake are elevated at 45 pCi/L, and the identified anomalies are well above this threshold.

• Four discrete radon anomalies directly overlie conductive graphitic units, strengthening the case for high-grade uranium mineralization at depth.

Figure 1: Howland Lake radon-in-water results and drill targets. 

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8126/241560_7c4baeadb4b69af7_002full.jpg

Winter 2025 Drill Targets

The results from the radon-in-water survey have been integrated with historical exploration and geophysical data to define four primary drill targets for Winter 2025. More than one drill hole may be allocated per target, depending on results.

1. Target 1 - Northeast Step-Out from M24-017

• Located 615 metres along strike northeast of M24-017.
• Coincides with an EM low, mineralized cross-faults, and radon anomalies up to 92 pCi/L.
• Historical grab samples in the area have returned up to 7% eU₃O₈.

2. Target 2 - Strongest Radon Anomaly

• Located 275 metres along strike northeast of M24-017, coincident with a 130 pCi/L radon anomaly and a strong EM high.
• Historical drill hole K9D14 is believed to have missed the uranium-bearing horizon, strengthening the case for follow-up drilling.

3. Target 3 - Southwest Step-Out from M24-017

• Located 250 metres along strike southwest of M24-017.
• Coincides with a discrete radon anomaly of 85 pCi/L and a strong EM high.

4. Target 4 - Howland Lake South Expansion

• Located 275 metres southwest of M22-012, where drilling previously intersected 0.17% U₃O₈ over 0.10 m.
• Coincides with an internally continuous high-amplitude radon anomaly (up to 121 pCi/L) at a break in the Howland South Conductor.

Figure 2: Howland Lake North geology (simplified) and historical work.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8126/241560_7c4baeadb4b69af7_003full.jpg

Winter drilling is expected to commence in March 2025, subject to safe ice conditions for drill mobilization. Aero Energy is prepared to expand the program beyond six holes if warranted by positive results.

Technical Disclosure

Radon-in-water samples (each 200 ml) were collected by RadonEX Ltd. using a Kemmerer water sampler at a standardized 1 meter above lake bottom. Samples were processed in a temperature-controlled environment by transferring the water to a 4-litre Rad Elec Inc. E-PERM® Electret Ion Chamber for a period of 48 hours. The Electret voltages were measured before and after exposure, with the difference reflecting the extent of ionization caused by radon gas decay from the water sample.

RadonEX in-house calculations were then used to determine the concentration of radon gas in the water sample (in picoCuries per litre, or pCi/L) based on the measured voltage difference. Raw results were adjusted by calculating the median value from each daily dataset and applying a correction factor to normalize the daily datasets to the overall median value. This adjustment compensates for apparent daily variations in measured radon gas levels, significantly reducing outlier anomalies and producing a more standardized dataset for drill targeting.

Further details regarding the historical exploration, drilling, and exploration results referenced in this news release can be found within the Saskatchewan Mineral Assessment Database (SMAD) and the Saskatchewan Mineral Deposit Index (SMDI). While several of these occurrences have been verified through field prospecting and sampling, there remains a risk that future confirmation work and exploration may yield results that substantially differ from these unverified historical results.

Historical drill hole locations, captured from georeferenced assessment report maps, may have positional uncertainties of ±50 meters. Aero Energy considers these unverified historical results relevant for assessing the mineralization and economic potential of the Murmac Project. The historical information referenced derives from SMAD references 74N07-0011, 74N07-0173, and 74N07-0277.

Qualified Person

The technical and scientific information in this news release has been reviewed and approved by Galen McNamara, P.Geo., CEO of the Company, who is a Qualified Person as defined by NI 43-101.

About Aero Energy Limited

Aero Energy is a mineral exploration and development company advancing a district-scale 250,000-acre land package in Saskatchewan's historic Uranium City district within the Athabasca Basin. Aero is focused on uncovering high-grade uranium deposits across its flagship Optioned Properties - Sun Dog, Strike, and Murmac - in addition to its fully owned properties. Aero is led by an award-winning technical team responsible for discoveries along the prolific Patterson Corridor that include the Gryphon (TSX: DML), Arrow (TSX: NXE), and Triple-R (TSX: FCU) deposits. With over 50 shallow drill-ready targets identified and 125 km of target horizon, Aero is tapping into the basin's emerging potential for high-grade, unconformity-style mineralization.

On Behalf of the Board of Directors

"Galen McNamara"
Galen McNamara, Chief Executive Officer

778-764-1605

Further information on the Company can be found on the Company's website at aeroenergy.ca and at www.sedarplus.ca, or by contacting the Company by email at info@aeroenergy.ca.

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.

Cautionary Statement Regarding Forward-Looking Information

This news release contains certain "forward looking statements" and certain "forward-looking information" as defined under applicable Canadian and U.S. securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as "may", "will", "should", "expect", "intend", "estimate", "anticipate", "believe", "continue", "plans" or similar terminology. The forward-looking information contained herein is provided for the purpose of assisting readers in understanding management's current expectations and plans relating to the future. These forward‐looking statements or information relate to, among other things the exploration and development of the Company's mineral exploration projects including completion of drilling activities.

Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual actions, events or results to be materially different from those expressed or implied by such forward-looking information, including but not limited to: the requirement for regulatory approvals; enhanced uncertainty in global financial markets as a result of the public health crises; unquantifiable risks related to government actions and interventions; stock market volatility; regulatory restrictions; and other related risks and uncertainties.

Forward-looking information are based on management of the parties' reasonable assumptions, estimates, expectations, analyses and opinions, which are based on such management's experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect.

The Company undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/241560

FAQ

When will Aero Energy (AAUGF) begin drilling at the Murmac Uranium Project?

Drilling is scheduled to begin in March 2025, subject to ice conditions.

How many drill holes are planned for AAUGF's Winter 2025 program at Murmac?

Up to six drill holes totaling approximately 900 metres are planned for the Winter 2025 program.

What were the uranium grades from AAUGF's previous drilling at Murmac?

Previous drilling intersected 8.40m at 0.30% U₃O₈, including individual assays up to 13.80% U₃O₈ over 0.10m in hole M24-017.

What were the radon survey results at AAUGF's Murmac Project?

The survey identified highly anomalous radon concentrations up to 130 pCi/L, well above the background level of 45 pCi/L.

How many primary drill targets has AAUGF identified at Murmac for Winter 2025?

Four primary drill targets have been identified, with the possibility of multiple holes per target depending on results.