Eastport Critical Metals expands drill spacing at Foley

Executive Summary

• Eastport Critical Metals Corp. reports positive initial gamma logging results from Phase 1 drilling at its Foley uranium project in Botswana, revealing consistent radioactive anomalies over a 3.5-kilometre strike that remain open-ended.
• The company is accelerating Phase 2 exploration by increasing drill spacing to one-kilometre centres to delineate the system's boundaries and define a district-scale exploration target, shifting from a narrow channel hunt to a broader "uranium wash" model.
• Phase 2 drilling is scheduled to commence in Q2, with assay results pending; the company emphasizes that gamma data alone does not confirm economic mineralization.

Key Details

• Project Location: Foley uranium project (PL113/2020), located ~75 km south of Francistown in Botswana's Central district, directly abutting Lotus Resources' Letlhakane uranium deposit.
• Phase 1 Results:
  • Initial drilling fences span approximately 3.5 kilometres in width.
  • Persistent gamma radiation signals measured at or above the basement contact across a 3.5-kilometre strike on both fences.
  • Drilling was conducted on 200-metre and 400-metre spacing.
  • Anomalies remain open-ended, suggesting mineralization extends beyond initial paleo-channel assumptions.
• Strategic Shift:
  • Decision to fast-track Phase 2 by increasing drill spacing to one-kilometre centres along strike.
  • Goal is to constrain the edges of mineralization and define a compliant exploration target.
  • Interpretation evolving from targeting paleo-channels to a "uranium wash model" where mineral-rich fluids infiltrated broader Karoo sedimentary layers.
• Technical Methodology:
  • Reverse circulation (RC) drilling sampling unconformable Karoo sediments overlying the basement.
  • Use of gamma logging and hand-held spectrometers to identify uranium-bearing horizons.
  • Information reviewed by Liz de Klerk (Micon International), a Qualified Person under NI 43-101.
• Future Plans:
  • Phase 2 drilling scheduled to commence in Q2.
  • Assays from initial drilling are currently pending.
  • Company cautions that gamma data alone do not confirm economic mineralization.

Notable Quotes

• "These early indicators are highly motivating... What started as a channel hunt now points to something much larger, similar to discovering a vast floodplain instead of a single stream. We're prioritizing edge definition to unlock Foley's full potential to accelerate the establishment of a compliant exploration target." — Burns Singh Tennent-Bhohi, CEO