Northwire Canada EditionSunday, November 1, 2026
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Gold 3,898.90 −3.3% Silver 49.28 −5.9% Copper 6.48 −1.8% Oil 104.12 +2.1% Palladium 987.70 −1.7% HCH 1.25 −3.9% CRD 0.040 −20.0% ENEV 0.005 +0.0% MOON 5.23 −7.9% ORE 2.56 −4.8% ASE 0.620 −14.5% LKY 0.005 + SOI 0.165 −5.7% ECR 0.190 −5.0% OZ 0.240 −9.4% ELEC 0.110 +4.8% WHY 0.260 −3.7% PHD 0.030 −33.3% OMI 0.220 −10.2% EML 0.105 +0.0% TECT 1.37 −2.8% Gold 3,898.90 −3.3% Silver 49.28 −5.9% Copper 6.48 −1.8% Oil 104.12 +2.1% Palladium 987.70 −1.7% HCH 1.25 −3.9% CRD 0.040 −20.0% ENEV 0.005 +0.0% MOON 5.23 −7.9% ORE 2.56 −4.8% ASE 0.620 −14.5% LKY 0.005 + SOI 0.165 −5.7% ECR 0.190 −5.0% OZ 0.240 −9.4% ELEC 0.110 +4.8% WHY 0.260 −3.7% PHD 0.030 −33.3% OMI 0.220 −10.2% EML 0.105 +0.0% TECT 1.37 −2.8%
Drill Results Routine +

UraniumX Commences Drill Program at Murphy Lake

Drill Program Commencement Validates Funding Strategy as Shares Consolidate Below Key Resistance

By The Northwire Desk — AI Analysis May 26, 2026 · 04:00 STMN · 0.13 UraniumX Discovery Corp.
Executive Summary
  • UraniumX Discovery Corp. has officially commenced a fully funded ~$2 million diamond drilling program at its flagship Murphy Lake Property in the Athabasca Basin, Saskatchewan.
  • The program targets five priority areas identified through a recently completed Moving Loop Electromagnetic (MLEM) geophysical survey.
  • Operator F4 Uranium Corp. is executing the drill program under an option agreement where UraniumX holds up to 70% interest.
  • Historical results from the property include Hole ML22-006 intersecting 0.065% U3O8 over 2.5 metres and Hole ML22-012 returning 56 ppm uranium in sandstone.
  • The company highlights proximity to significant deposits: IsoEnergy (Hurricane Deposit, 5 km away), Cosa Resources (Murphy Lake North Project, 4 km south), and Cameco (La Rocque Lake Uranium Zone, 4 km east).
  • This announcement follows the May 12 option agreement with Gold'n Futures for the NeoCore property and the May 22 OTCQB listing approval.
Material Impact
  • The commencement of drilling was anticipated based on prior announcements in February and May 2026 which stated a spring drill program was scheduled to begin mid-May.
  • The news confirms execution rather than introducing new strategic pivots or unexpected discoveries, aligning with the "Routine - Positive" classification.
  • Financially, the company reports $5.3M in cash as of February 28, 2026, making the $2M drill program fully funded without immediate dilution risk for this specific activity.
  • The OTCQB listing approval (May 22) provides a quality trading platform but does not immediately alter operational fundamentals; it is an incremental step for U.S. investor access.
  • No material positive surprise exists in the headline as the market was aware of the drilling timeline and funding status from previous releases.
STMN · Price
Company Overview
  • Flagship Project: Murphy Lake Uranium Property (609 hectares) located 30 km northwest of Orano's McClean Lake milling operations in the Athabasca Basin.
  • Portfolio Includes: Zoo Bay (19,850 hectares), NeoCore (13,012 hectares).
  • Strategic Focus: Project generator model with option agreements to advance properties while retaining royalties or equity exposure.
  • Management Change: Esen Boldkhuu appointed CEO in December 2025 following the resignation of Lester Esteban; previously held senior roles at Abitibi Metals and Formation Metals.
  • Corporate Status: Approved for trading on OTCQB Venture Market (Symbol: STMXF) effective May 14, 2026; seeking DTC eligibility.
Read the original news release →

More from UraniumX Discovery Corp.

Jun 23, 2026 · 07:30

UraniumX Expands Murphy Lake Drill Program to 4,000 metres

Drill Results Jun 18, 2026 · 22:30

Athabasca Basin uranium project generator advancing Murphy Lake and NeoCore via earn-ins and targeted drilling.

M&A / Property Jun 17, 2026 · 07:30

UraniumX Discovery Corp Closes Option Agreement with Gold'n Futures

M&A / Property Jun 09, 2026 · 03:05

Athabasca Basin uranium explorer advances Murphy Lake drilling with consistent conductive corridor, awaiting assay confirmation.

Drill Results Jun 04, 2026 · 16:41

UraniumX Raises $500K to Keep Murphy Lake Drill Rig Rolling, But Dilution and Assay Risk Keep Upside Capped

Drill Results Jun 02, 2026 · 07:00

UraniumX’s Murphy Lake Drill Hit Validates Athabasca Targeting Model as Assays Loom

Drill Results