New Earth Resources Announces Exploration Plans on its Past-Producing Lucky Boy Uranium Project

Executive Summary

• New Earth Resources Corp. is commencing a multi‑disciplinary exploration program at its flagship Lucky Boy Uranium Project in Arizona, slated to start January 2026.
• The company increased its previously announced flow‑through private placement, now offering up to 2,444,444 FT Units at $0.45 each for gross proceeds of up to $1,100,000.
• Proceeds from the financing will be used to fund eligible Canadian exploration expenses on the Company’s domestic mineral properties.

Key Details

• Exploration Program Components
• Geological Mapping: Detailed surface and structural mapping to delineate rock units and mineralization patterns.
• Geochemical Surveys: Systematic soil and rock sampling to identify uranium anomalies.
• Scintillometer Surveys: Real‑time radioactivity measurements to pinpoint prospective zones for follow‑up work.
• Timeline
• Field activities are scheduled to commence in January 2026 with updates expected in the ensuing months.
• Financing – Flow‑Through Private Placement
• Unit Price: $0.45 per FT Unit (unchanged).
• Maximum Units Offered: 2,444,444 FT Units (up from 2,222,222).
• Gross Proceeds Target: Up to $1,100,000 (up from $1,000,000).
• Unit Composition: Each FT Unit consists of one flow‑through share and one warrant to purchase an additional share at $0.60 per share for 36 months.
• Use of Proceeds
• Funds will be applied toward eligible “Canadian exploration expenses” (CEE) that qualify as flow‑through mining expenditures under the Canadian Income Tax Act, supporting exploration on the Company’s Canadian properties.
• Management Comment
• Lawrence Hay, President & CEO, stated: “We are very excited to commence this phase of our exploration program at our past‑producing, flagship uranium property…providing a road map for future exploration efforts.”

Notable Quotes

“Building on the project area’s legacy of production, our team is deploying geological mapping, geochemical surveys and scintillometer surveys to assist with delineating high priority zones, effectively providing a road map for future exploration efforts.” – Lawrence Hay, President & CEO

Materiality Assessment: Material – Positive (the launch of a new exploration program at a flagship uranium asset combined with an increased financing round is likely to have a material impact on the company’s operational outlook and capital structure).