F3 to Spend $16 Million on Drilling at PLN

Rhea-AI Summary

F3 Uranium Corp (TSV: FUU) (OTCQB: FUUFF) is on track for a $16M exploration program in early January 2024, focusing on ground geophysics and drilling on its flagship Patterson Lake North Property. The program aims to expand the JR Zone, discover mineralized zones along A1 and B1 shear zones, and make new discoveries on the 98,708 acre PLN Project claims area.

Kelowna, British Columbia--(Newsfile Corp. - December 27, 2023) - F3 Uranium Corp (TSV: FUU) (OTCQB: FUUFF) ("F3" or "the Company") is pleased to announce that it is on track for mobilization to start in early January for the 2024 exploration program, budgeted at $16M, of ground geophysics and drilling on its flagship Patterson Lake North ("PLN") Property.

The program objectives are to continue to expand the JR Zone following up on recently announced high grade intercepts (see NR dated December 18, 2024), to discover additional mineralized zones along the 5km A1 and parallel B1 shear zones, and to make new discoveries elsewhere on the 98,708 acre PLN Project claims area. The JR Zone discovery made just over 1 year ago increased the prospectivity of the entire PLN Project area.

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.

Forward-Looking Statements

This news release contains certain forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, including statements regarding the suitability of the Properties for mining exploration, future payments, issuance of shares and work commitment funds, entry into of a definitive option agreement respecting the Properties, are "forward-looking statements." These forward-looking statements reflect the expectations or beliefs of management of the Company based on information currently available to it. Forward-looking statements are subject to a number of risks and uncertainties, including those detailed from time to time in filings made by the Company with securities regulatory authorities, which may cause actual outcomes to differ materially from those discussed in the forward-looking statements. These factors should be considered carefully and readers are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

The TSX Venture Exchange and the Canadian Securities Exchange have not reviewed, approved or disapproved the contents of this press release, and do not accept responsibility for the adequacy or accuracy of this release.

F3 Uranium Corp.
750-1620 Dickson Avenue
Kelowna, BC V1Y9Y2
Contact Information
Investor Relations
Telephone: 778 484 8030
Email: ir@f3uranium.com

ON BEHALF OF THE BOARD
"Dev Randhawa"
Dev Randhawa, CEO

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/192419

FAQ

What is F3 Uranium Corp's ticker symbol?

F3 Uranium Corp's ticker symbol is TSV: FUU and OTCQB: FUUFF.

What is the focus of F3 Uranium Corp's 2024 exploration program?

The focus of F3 Uranium Corp's 2024 exploration program is to expand the JR Zone, discover mineralized zones along A1 and B1 shear zones, and make new discoveries on the PLN Project claims area.

What is the budget for F3 Uranium Corp's 2024 exploration program?

The budget for F3 Uranium Corp's 2024 exploration program is $16M.

What was the recent high grade intercepts announcement related to F3 Uranium Corp?

The recent high grade intercepts announcement related to F3 Uranium Corp was made on December 18, 2024.

What is the significance of the JR Zone discovery for F3 Uranium Corp?

The JR Zone discovery made just over 1 year ago increased the prospectivity of the entire PLN Project area for F3 Uranium Corp.