North Shore Announces Extension to Falcon Property Option Agreement and Resource Stock Digest Engagement

North Shore Uranium Ltd. (NSU) has amended its South Falcon Option Agreement with Skyharbour Resources Ltd., extending the term from four to five years. The modification adjusts the earn-in schedule to facilitate continued exploration on the 36,789-hectare Falcon property located in the Athabasca Basin.

Under the revised terms, NSU is required to make cash payments of $150,000 due on Oct 31, 2027, and $225,000 due on Oct 31, 2028. Additionally, the company must provide shares or cash at its option, valued at $100,000 due Dec 15, 2026; $250,000 due Oct 31, 2027; and $525,000 due Oct 31, 2028. The share price for these payments is based on the 5-day volume-weighted average price (VWAP), subject to a $0.05 minimum.

Exploration expenditure requirements include $1,100,000 already completed, with further payments of $975,000 due on Oct 31, 2026, $975,000 due on Oct 31, 2027, and $975,000 due on Oct 31, 2028. The agreement remains subject to approval by the TSX Venture Exchange.

North Shore Uranium Ltd. (NSU) has extended an option, a routine administrative step that secures long-term exploration rights without triggering immediate dilution or cash outflows. The amendment aligns with management's stated strategy to optimize Falcon exploration while concurrently advancing the Rio Puerco project in New Mexico.

The company also incurred a $30,000 marketing expense. While immaterial to the $3.09M cash balance, the expenditure signals management's focus on investor awareness ahead of the Q4 2026 Rio Puerco Phase 2 drilling. There is no change to the fundamental exploration thesis or near-term financial outlook. The news is incremental and does not alter the company's capital requirements or execution timeline.

North Shore Uranium Ltd. (NSU) is an early-stage uranium explorer operating in two key jurisdictions: New Mexico and Saskatchewan. The company’s flagship Rio Puerco project is located in the Grants Uranium District. Phase 1 drilling, consisting of 13 holes totaling 2,828 meters, confirmed significant uranium mineralization in all holes. All intersections were located below the water table, a condition favorable for In-Situ Recovery mining. Historical resources for the property total 6.0 million tonnes at 0.09% eU3O8, equating to 11.4 million pounds of U3O8, as reported in a 2009 JORC statement. Phase 2 drilling is planned for Q4 2026 to validate data and prepare for NI 43-101 modeling.

The Falcon project is an early-stage property in the Athabasca Basin, located 30 kilometers from the Key Lake mill. Three priority zones have been identified, and an option extension secures exploration rights through 2027. Additionally, North Shore Uranium Ltd. holds a 75% joint venture with Gem Oil Inc. on the West Bear property on the eastern Athabasca margin. Historical drilling has been completed on West Bear, but targets remain untested.