Based on all drill holes, the uranium deposit in the JR zone is estimated to contain:
11,801,000 pounds U3O8 Declared mineral resource based on 121,259 tonnes with an average figure of 4.39% U3O8, including:
High-end domain with 10,788,000 lbs of U3O8 based on 39,997 tons with an average quality of 12.23% U3O8
The mineral resource has been estimated solely for the basement JR Zone deposit and is fully classified as indicated.
Raymond Ashley, President & COO commented:
With the JR Zone definition phase successfully completed, the company will turn its attention to the recently discovered Tetra Zone, just 13 km from the JR Zone. This high-quality indicated resource, combined with Tetra’s potential, sets an exciting stage for growth in the new year. The team will pursue additional high-impact goals across our expanded PLN land package, with a priority focus on Tetra. We are well funded to advance drilling programs through 2026 with $26.1 million in the treasury as of December 18, 2025.”
Table 1: Summary of Mineral Resources – Uranium Deposit in JR Zone, effective October 15, 2025
| Classification | Cut off figure (% U3O8) | Tonnage (T) | Figure (% U3O8) | Contains metal (000 pounds U3O8) | F3 base (%) | Restore U3O8 (%) |
| Indicated | ||||||
| HG domain | 0.255 | 39,997 | 12.23 | 10,788 | 100 | 97 |
| LG domain | 0.255 | 81,262 | 0.57 | 1,031 | 100 | 97 |
| Total indicated | 0.255 | 121,259 | 4.39 | 11,801 | 100 | 97 |
Notes:
| ||||||
Estimation methodology:
SLR International Corporation estimated the JR Zone mineral resource estimate using borehole data from 89 boreholes totaling 29,414 m within the JR Zone deposit available as of October 15, 2025. The mineral resource estimate was completed using an unrotated, sub-blocked approach. SLR constructed two distinct mineralized domains with a low-grade domain, representing the broader mineralized envelope, was interpreted using a cutoff of 0.1% U3O8 and modeled based on composite drilling data of 1.0 m and a high-quality domain with a minimum slope of 5.0% U3O8 fully encapsulated within the low-level domain. The estimated block model figures were based solely on chemical testing. After detailed statistical and spatial analyses, SLR concluded that the application of high-value maxima was not justified, as the distribution of high-value values does not materially distort the overall estimates of the figure. No mineral reserves have been estimated for the project.
Given the limited variability and the absence of well-defined anisotropy in the data, level estimation was performed using the inverse square of distance (ID2) interpolation method. A planar ellipsoid search strategy was applied to represent the general geometry of the mineralized zones and to ensure appropriate spatial weighting during the estimation.
Density values were estimated from bulk density measurements collected from drill core samples with an average sample length of 0.5 m. For consistency with test intervals used in resource estimation, density values were composited to 1.0 m intervals. A total of 109 composite samples were available in the high-quality domain and 396 composite samples in the low-quality domain. The block density was estimated using Inverse Distance Squared (ID2) interpolation within both the high-grade and low-grade mineralization domains using the same search strategy as used for uranium grade.
All blocks are classified as indicated mineral resources based on drill spacing, geological confidence and demonstrated continuity of mineralization within the modeled mineralization domains. Potentially mineable shape volumes generated using the Deswik Stope Optimizer (DSO) software were then applied to limit the indicated blocks to volumes deemed reasonable for final economic extraction. The reported mineral resources include internal dilution within the subsurface MSO (Mineable Shape Optimizer) shape volumes. No additional dilution or recovery factors were applied.
Additional technical details:
A technical report on the PLN project and the initial resource estimate of the JR zone, prepared by SLR International Corporation and in accordance with National Instrument 43-101, will be submitted on SEDAR within 45 days.
About the Patterson Lake North project:
The company’s 44,613-hectare, 100%-owned Patterson Lake North Project (PLN) is located just inside the southwestern edge of the Athabasca Basin, near the high-grade uranium deposits of Paladin’s Triple R and NexGen Energy’s Arrow, an area poised to become the next major development area for new uranium operations in northern Saskatchewan. The PLN project consists of the 4,074-hectare Patterson Lake North property, which hosts the JR zone’s uranium deposit, approximately 23 km northwest of Paladin’s Triple R deposit, the 20,675-hectare Minto property, and the 19,022-hectare Broach property, which hosts the Tetra zone, F3’s newest discovery, 13 km south of the JR zone cordon. All three properties that comprise the PLN project are accessible via provincial highway 955.
Qualified Person:
The mineral resources for the JR Zone deposit disclosed in this press release have been prepared in accordance with Canadian regulatory requirements set out in National Instrument 43-101 and estimated by Mark Mathisen, CPG, an employee of SLR International Corporation and independent of F3. Mr. Mathisen is a qualified person in accordance with NI 43-101 and SK 1300. The Mineral Resources are classified as indicated in accordance with the CIM Definition Standards (2014, adopted 2019), as incorporated by reference in NI 43-101, which are consistent with the definitions in SK 1300. Mr. Mathisen has reviewed and approved the contents of this press release with respect to the Mineral Resources. estimation.
The scientific and technical information contained in this press release, other than the resource estimate, has been prepared in accordance with 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 reviewed and approved the scientific and technical information contained in this press release and verified the data disclosed.
This press release may refer to adjacent properties in which F3 Uranium has no interest, and the Authorized Person has been unable to verify information on those properties. Mineralization on those adjacent properties is not necessarily indicative of mineralization on the PLN project.
About F3 Uranium Corp.:
F3 is a uranium exploration company focused on the high-grade JR Zone deposit and the new Tetra Zone discovery, 8 miles south in the PW area, at its Patterson Lake North (PLN) project in the western Athabasca Basin. F3 currently has 3 properties in the Athabasca Basin: Patterson Lake North, Minto and Broach. The western side of the Athabasca Basin, Saskatchewan, is home to some of the world’s largest high-grade uranium deposits, including Paladin’s Triple R project and NexGen’s Arrow project.
Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including but not limited to statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs about future performance, including statements regarding the pursuit of additional targets, anticipated drilling programs and other exploration plans and prospects for the Athabasca Basin and the Company’s projects, are “forward-looking statements.” These forward-looking statements reflect the expectations or beliefs of the Company’s management based on information currently available. Forward-looking statements are subject to a number of risks and uncertainties, including those described from time to time in filings by the Company with securities regulators, that could 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 press release are made as of the date hereof and the Company undertakes no obligation to publicly update or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.
The TSX Venture Exchange has not reviewed, approved or disapproved the contents of this press release and assumes no responsibility for the suitability or accuracy of this press release.
ON BEHALF OF THE BOARD
“Developer Randhawa”
Dev Randhawa, CEO
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/278771
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