Drilling Intersects Anomalous Radioactivity 1km East of Tetra Zone

F3 Uranium Corp. (FUU) released a two-part document containing a promotional pre-assay radiometric update on three 2026 summer holes, followed by actual uranium assay results from the 2026 winter program. The summer holes, all located on the Broach property’s Tetra Zone exploration area, were PLN26-230 (1,600 m south), PLN26-231A (1,300 m southeast), and PLN26-232 (1,000 m east).

PLN26-232 reported five discrete handheld spectrometer intervals above 300 cps, each 0.5 m, from 352.0 m to 649.5 m downhole. The peak was 4,400 cps at 610.5-611.0 m, with a further 1,600 cps at 611.0-611.5 m. Other intervals included 450 cps (352.0-352.5 m), 340 cps and 400 cps (383.5-384.5 m), 300 cps and 300 cps (479.0-480.0 m), and 340 cps (649.0-649.5 m). Assays are pending. The Athabasca unconformity was encountered at 165.2 m, with a total depth of 788 m.

PLN26-230 reported no anomalous radioactivity (>300 cps), reaching a total depth of 455 m with the unconformity at 172.1 m. PLN26-231A also reported no anomalous radioactivity, with a total depth of 587 m and the unconformity at 168.0 m. PLN26-231 was abandoned at 185 m (unconformity 167.8 m), having lost essentially at the top of the basement.

Winter 2026 assays, comprising approximately 3,350 m of program testing Tetra along strike and down plunge, were detailed in the release's Table 2. The composite parameters for both tables included a 0.5 m minimum thickness, 0.05% U3O8 assay cut-off (300 cps for the spectrometer table), and 2.0 m maximum internal dilution. True thicknesses are yet to be determined.

• PLN26-225 returned 0.5 m at 0.06% U3O8 from 418.5-419.0 m.
• PLN26-222, PLN26-223A, PLN26-224, PLN26-226 and PLN25-227 returned no uranium assay intervals meeting the reporting criteria.
• PLN26-223 was abandoned.

PLN26-225 tested approximately 40 m down plunge of PLN25-217, the hole that previously returned 3.5 m at 0.30% U3O8 including 0.5 m at 1.04% U3O8.

A second diamond drill rig will be added to follow up PLN26-232 and continue testing regional Broach targets. Sampling was conducted at SRC Geoanalytical Laboratories (SCC ISO/IEC 17025:2005), with half-core at 0.5 m intervals and a 63-element suite, with U determined by ICP-MS. QP is Raymond Ashley, P.Geo., disclosed as not independent. The company’s own thresholds define >300 cps as "anomalous," >10,000 cps as "highly radioactive," and >65,535 cps as "off scale."

F3 Uranium Corp. (FUU) is an explorer that recently achieved post-maiden-resource status following the JR Zone Indicated resource, which contains 11.8 million pounds of U3O8 at 4.39%, including a 10.79 million pound high-grade domain at 12.23%. These figures were disclosed in a December 22, 2025 release and a January 20, 2026 NI 43-101 report. The company has a market capitalization of approximately C$76-80M and held $21.4M in cash as of March 31, 2026, implying an enterprise value of roughly C$55M.

The company’s stock price moved from roughly C$0.13 in late December 2025 to C$0.27 on January 29, 2026, driven by the JR resource and radiometric activity at Tetra, before round-tripping to C$0.12. This price action suggests the market is currently assigning little value to the Tetra discovery at these levels.

In April 2026, the company reported that step-out holes at Tetra had intersected uranium mineralization with readings up to 1,400 cps. However, recent winter 2026 assay results have revealed those holes to be barren, with the exception of one 0.5 m interval sitting on the 0.05% cut-off. This represents a downgrade from earlier radiometric framing and marks the second instance, following the November 2025 to March 2026 sequence, where Tetra radiometric anomalism has not converted into meaningful grade.

The primary anchor result for the project is hole PLN25-219A, which returned 3.00 m at 1.19% U3O8 and 13.00 m at 0.28% U3O8, dated March 31, 2026. This follows a January 13, 2026 claim regarding a 135 m plunge length.

On the positive side, a new area located 1 km east, beneath the unconformity, shows alteration and some anomalism. The company is committing a second rig to this zone. However, this is the third consecutive release where the focus has been on cps and alteration rather than assays, with no confirmed true width, continuity, or grade.

F3 Uranium Corp. (TSXV: FUU, OTCQB: FUUFF) released technical data for its Patterson Lake North Project, a 100%-owned 42,960-hectare property located on the south-western margin of the Athabasca Basin. The project comprises three distinct properties: Patterson Lake North (4,074 hectares), which hosts the JR Zone; Minto (19,864 hectares); and Broach (19,022 hectares), which hosts the Tetra Zone, located 13 km south of the JR Zone. Raymond Ashley, P.Geo., President and VP Exploration, serves as the named Qualified Person and technical lead credited on the JR Zone, Triple R, and Tetra Zone discoveries.

The JR Zone resource estimate, detailed in a Dec. 22, 2025 release and a Jan. 20, 2026 NI 43-101 report by SLR International, defines an Indicated resource of 11.80 million pounds of U3O8 in 121,259 feet at 4.39% U3O8 at a 0.255% cut-off. This includes a high-grade domain of 10.79 million pounds in 39,997 feet at 12.23% U3O8. The estimate assumes 97% metallurgical recovery and was interpolated from 89 holes totaling 29,414 meters. The company notes there is no preliminary economic assessment, reserve, or mine plan associated with this resource.

On the Broach property, the Tetra Zone remains a discovery with no mineral resource estimate, metallurgical data, or true widths determined. However, interpreted mineralized plunge length extended from 60 meters to 135 meters during the fall 2025 drilling program.

F3 Uranium Corp. reported 631,833,670 shares outstanding as of March 31, 2026. Subsequent capital activities included the issuance of 27,745,000 flow-through shares at C$0.20 in April 2026, along with quarterly shares-for-interest payments to Denison Mines. Material options, RSUs, and warrants remain outstanding. A C$15 million convertible debenture held by Denison Mines carries a 9% coupon, matures on October 18, 2028, and is convertible at C$0.56, a price significantly above the current C$0.12 share price.

Financial results reported to March 31, 2026, show cash of $21.4 million, total assets of $107.5 million, total liabilities of $20.7 million, and total equity of $82.9 million. Book value per share stands at $0.13. For the nine months ended March 31, 2026, the company recorded a net loss of $5.8 million, compared to $15.7 million in the prior year, with selling, general, and administrative expenses of $8.1 million. Capitalized exploration and evaluation assets total approximately $84.9 million. The company reports no revenue and no going-concern flags.

In mid-2026, the company entered a three-month investor relations and marketing agreement with Delray Capital Markets Group valued at US$200,000, with an option to extend for an additional US$150,000.

Regarding management, the release is signed by Ross McElroy as CEO, while the investor presentation lists Dev Randhawa as CEO and Chairman. This discrepancy exists in the provided materials and should be confirmed before relying on either designation, as no management-change release appears in the provided history.