F3 Issues Common Shares for Interest Debt Settlement

• Debt Settlement: F3 Uranium Corp. settled $225,000 in accrued interest owed to Denison Mines Corp. by issuing 1,573,427 common shares at a deemed price of $0.143 per share.
• Coverage Period: The settlement covers the period from October 1, 2025, to March 31, 2026 (Q2 and Q3), expanding on previous quarterly settlements.
• Debenture Terms: The underlying debt carries a 9% coupon rate, matures on October 18, 2028, and allows Denison to convert at $0.56 per share or F3 to pay up to one-third of interest in shares based on VWAP.
• Regulatory Status: Issuance is subject to TSX Venture Exchange approval; shares are subject to a statutory hold period of four months and one day.
• Context: This follows a similar debt settlement transaction announced on January 28, 2026, which involved cash plus share issuance for the same interest obligation structure.

• Dilution vs. Cash Conservation: The issuance of shares at $0.143 is below the recent trading price of ~$0.19-$0.20. While this conserves cash (preserving liquidity), it dilutes existing shareholders at a discount to market value, which is typically viewed as neutral-to-negative for share price stability in the short term.
• Financial Health: The transaction confirms F3's ability to manage debt obligations without draining its reported $26+ million treasury balance. This reduces immediate solvency risk but does not materially alter the company's long-term valuation drivers.
• Expectation Alignment: This news is fully consistent with the debenture terms disclosed in October 2023 and the January 2026 settlement announcement. It represents routine debt service execution rather than a new strategic shift or unexpected event.
• Market Reaction: Given the recent financing ($5.5M closed April 17) and drilling results (April 22), this administrative update is unlikely to trigger significant price movement on its own, serving primarily as confirmation of capital management discipline.

• Company: F3 Uranium Corp., a junior uranium explorer focused on the Athabasca Basin in Saskatchewan, Canada.
• Flagship Project: Patterson Lake North (PLN) Project, comprising 42,961 hectares across three properties:
  • JR Zone: Hosts the initial indicated mineral resource estimate (11.8 million lbs U3O8 at 4.39% average grade).
  • Tetra Zone: A newly discovered high-grade uranium zone on the Broach Property, approximately 13 km south of the JR Zone, showing strong radioactivity and structural continuity with the JR system.
• Development Stage: Exploration and resource definition phase; drilling programs are active for both zones to delineate mineralization and test extensions toward the unconformity.