North Shore Uranium stakes 27 claims at Rio Puerco

Executive Summary

• North Shore Uranium Ltd. staked 27 additional BLM mining claims at the Rio Puerco project, bringing the total to 64 adjoining claims and expanding its land position in New Mexico.
• The company references a historical JORC‑compliant inferred resource of 6 Mt @ 0.09 % eU₃O₈ (≈11.4 M lb U₃O₈) from 2009, noting potential for ISR mining and future work programs to validate/expand the resource.
• The board approved equity compensation: 1,625,000 restricted share units (RSUs) and 2,075,000 stock options at $0.175 per share, subject to TSX‑V approval and statutory hold periods.

Key Details

• Land Expansion: 27 new BLM claims added; total Rio Puerco land package now 64 contiguous claims.
• Historical Resource Reference: 6 Mt @ 0.09 % eU₃O₈ (11.4 M lb U₃O₈) – JORC‑2004 inferred, based on 764 historic drill holes; not NI 43‑101 verified.
• Potential ISR Mining: Initial review suggests in‑situ recovery could be the lowest‑cost extraction method for the historical resource.
• Option Agreement: New claims are subject to an option agreement giving North Shore the right to acquire up to an 87.5 % interest in Rio Puerco from Resurrection Mining LLC.
• Equity Compensation – RSUs: 1,625,000 restricted share units granted to directors, officers and consultants; vest on first anniversary of grant date.
• Equity Compensation – Stock Options: 2,075,000 options granted at a purchase price of $0.175 per common share; five‑year term; vest immediately upon grant.
• Regulatory Hold: All equity securities subject to a four‑month‑plus‑one‑day statutory hold period under Canadian securities law and TSX‑V policies; pending TSX‑V approval.
• Qualified Person Disclosure: Brooke Clements, MSc, PGeol (CEO) reviewed and approved the scientific and technical content of the release.

Notable Quotes

“North Shore's Rio Puerco project … hosts a significant historical uranium resource with excellent upside… The staking of 27 new claims complements the company's strategy of confirming and expanding upon the scale of uranium mineralization found by previous work.” – Brooke Clements, President & CEO

All forward‑looking statements are subject to risks and uncertainties; actual results may differ materially.