NUCLEAR FUELS INC - NFUNF STOCK NEWS

Nuclear Fuels reported significant results from its ongoing drill program at the Kaycee ISR Uranium Project in Wyoming's Powder River Basin. The company achieved its best results to date, with drilling at Stirrup West Zone yielding up to 0.205% eU3O8 over 8.0 feet with a Grade Thickness of 1.640. At Stirrup East Zone, drilling confirmed high-grade historic mineralization and extended the zone by ~1,000 feet northeast. Out of 107 holes drilled at an average depth of 498.9 feet, 83% returned anomalous uranium, with 18 holes showing GT of 0.2 or better.

Nuclear Fuels Inc. (CSE: NF) (OTCQX: NFUNF) has announced the appointment of Brahm Spilfogel to its Board of Directors, effective immediately. Spilfogel, an award-winning financial executive with over 25 years of experience in resource portfolio management, will also serve on the Audit and Compensation Committees. The company has also announced a $98,750 CDN private placement, with Spilfogel participating for 250,000 shares at $0.395 per common share.

Spilfogel recently retired from RBC Global Asset Management, where he co-managed portfolios exceeding $2 billion. The company has granted him incentive stock options for 300,000 common shares at $0.395 per share, expiring October 9, 2027. Additionally, Nuclear Fuels announced the retirement of Lawrence Lahusen from the Board of Directors.

Nuclear Fuels Inc. (CSE: NF) (OTCQX: NFUNF) has released a NI 43-101 Technical Report for its Kaycee In-Situ Recovery (ISR) Uranium Project in Wyoming's Powder River Basin. The report, prepared by WWC Engineering, identifies an exploration target of 11.5 to 30 million pounds of uranium (U3O8) at average grades of 0.06% to 0.10%. Key highlights include:

• Approximately 430 miles of roll fronts identified
• Multiple stacked roll fronts in three uranium-hosting stratigraphic formations
• Potential for ISR extraction based on historical metallurgical tests
• Eleven areas of historical uranium resources at depths ranging from less than 50 to 1,300 feet

The report recommends continuing the current drilling program and preparing a classified mineral resource estimate. The Kaycee Project covers over 55 square miles with a 36-mile mineralized trend, representing the first time since the early 1980s that the entire district is controlled by one company.

Nuclear Fuels Inc. (CSE: NF) (OTCQX: NFUNF) has announced significant results from its ongoing drilling program at the Kaycee In-Situ Recovery (ISR) Uranium Project in Wyoming's Powder River Basin. Key highlights include:

1. Extension of the Spur Zone mineralization over 1,000 feet towards the Saddle Zone.

2. Best intercept to date at the Saddle Zone: 0.233% eU3O8 over 7.0 feet with a Grade Thickness (GT) of 1.631.

3. 74% of drill holes returned anomalous gamma values, with 12 holes returning GT of 0.25 or better.

4. Drilling continues at other regional targets across the Kaycee Uranium Project.

The Kaycee Project covers over 42 square miles with a 36-mile mineralized trend. It's the only project in the Powder River Basin where all three known historically productive sandstone formations are potentially accessible for ISR extraction.

Nuclear Fuels Inc. (CSE: NF) (OTCQX: NFUNF) has commenced an expanded drill program at its Kaycee In-Situ Recovery (ISR) Uranium Project in Wyoming's Powder River Basin. The initial program, completed in early 2024, confirmed and expanded uranium mineralization in two historic resource areas along a 36-mile trend. Key highlights include:

- Identification of additional mineralized horizons and a southerly extension from the Spur Zone towards the Saddle Zone
- 200 drill holes completed with 75% returning anomalous gamma values
- 47 holes returned Grade Thickness (GT) of 0.25 or better
- Evaluation of over 500 historic well logs led to an expanded permit area with 700 new drill hole locations

The company aims to confirm and expand existing zones while testing new targets along the trend throughout 2024 and into 2025.

Nuclear Fuels appointed Gregory Huffman as CEO, President, and Director, effective immediately. Huffman, with over two decades of experience in mining analysis and equity finance, will purchase 2,000,000 units at $0.35 per unit through a private placement. Each unit includes a common share and a half share warrant, exercisable at $0.55 for two years. Huffman’s extensive background includes key roles at Canaccord Genuity and Scotia Capital. William M. Sheriff, Executive Chairman, highlighted Huffman’s experience and relationships within the industry as critical for Nuclear Fuels' future growth. Former CEO Michael Collins will continue as an Advisor and Consultant. Additionally, Nuclear Fuels granted Huffman 1,000,000 stock options, exercisable at $0.35 per share for five years, subject to semi-annual vesting over the first two years.

Nuclear Fuels (CSE:NF, OTCQX:NFUNF) has announced a change of auditor, switching from MNP LLP to Davidson & Company LLP, effective May 10, 2024.

This change follows the completion of a reverse takeover with Uravan Minerals, as mentioned in a news release on July 10, 2023. The company has invoked an exemption from certain change of auditor requirements and confirms there were no reportable events with MNP LLP.

Nuclear Fuels Inc. (CSE: NF) announces the resumption of drilling at its Kaycee ISR Uranium Project in Wyoming's Powder River Basin. Phase 1 drilling in 2023 confirmed and expanded historic resources. Phase 2 in 2024 aims to expand mineralization at depth and along trend. The company is focused on ISR uranium resources extraction. The Kaycee Project represents a significant opportunity in a prolific ISR amenable sandstone basin in the US. The project is in a long-term demand-driven uranium cycle. Wyoming's favorable regulatory environment and historic uranium production make it an ideal location for uranium projects.