Geiger Makes New Uranium Discovery at the Previously Undrilled Fox Zone, Directly on Trend with Orano's Kiggavik Uranium Deposits

Geiger Energy Corporation (BEEP) announced a new uranium discovery at the previously undrilled Fox Zone on the Aberdeen Project in the Thelon Basin, Nunavut. The first hole, FOX26-001, intersected two main radiometric zones: 20 meters from 173 to 193 meters and 30 meters from 200 to 230 meters. Radiometric counts largely exceeded 100 cps, with local 10-20 cm intervals exceeding 300 cps and locally greater than 500 cps. Sporadic elevated radioactivity was reported from near surface to the end of the hole at 350 meters.

No U3O8 assays, no ppm uranium grades, no true widths, and no downhole gamma eU3O8 grades are reported. Mineralization is described in altered quartz breccia stockwork along the Andrew Lake Fault, with clay, limonite, sooty pyrite and near-massive specular hematite. Fox sits along strike from Orano’s Kiggavik-area deposits, cited at approximately 133 million pounds of historical uranium resources. Follow-up drilling is stated as an immediate priority.

Geiger Energy Corporation (BEEP) is a pre-revenue micro-cap uranium explorer with no mineral resources or reserves. Consequently, the company’s entire equity value rests on exploration optionality, making the identification of a new zone on the Kiggavik trend relevant. However, this recent release does not provide the key evidence, specifically U3O8 grade, needed to change the deposit thesis materially. The stock has round-tripped from C$0.41 in October 2025 to C$0.17-0.20 by late August 2026, near the 52-week low. Because the stock is not priced for a major discovery, a genuinely grade-bearing new zone could be material. This release is not that yet: it is a first-hole radiometric and alteration target validation.

Expectation anchor: no prior Fox result exists, so the main comparison is to geological model quality, not an embedded prior grade. Against the company’s own assay-based Tatiggaq results and higher-count Ackio radiometrics, Fox is encouraging but lower-confidence.

Geiger Energy Corporation (TSXV: BEEP) is a junior uranium explorer that controls approximately 95,519 hectares in the Thelon Basin, Nunavut, at Aberdeen, and approximately 338,000 hectares in the Athabasca Basin, Saskatchewan. The Aberdeen property hosts the Tatiggaq, Qavvik, Loki, Fox, and more than 50 prospective targets. Meanwhile, the Hook property contains the Ackio near-surface uranium discovery, which features at least nine mineralized pods starting at 28 m depth.

The company is currently pre-revenue, with no sales, cost of sales, or operating revenue. For the first quarter of 2026, Geiger Energy reported a net loss of C$2.31 million, compared to a full-year 2025 net loss of C$17.77 million. As of March 31, 2026, the company held C$5.58 million in cash and remained debt-free. In May 2026, it closed C$7.62 million in equity and flow-through financing. Geiger Energy does not currently hold formal mineral resources or reserves.