F4 Uranium completes mobile MT survey at Todd Lake

Executive Summary

• F4 Uranium Corp. completed an airborne mobile magnetotellurics (MT) survey over the southern portion of its Todd Lake project in the southwestern Athabasca basin, identifying potential extensions to the prolific Patterson Lake corridor (PLC) and Carter trends.
• The company simultaneously announced the settlement of $272,916 in debt to insiders (CEO, CFO, President, and Director) via the issuance of 2,481,053 shares, a transaction approved by the TSX Venture Exchange.
• The Todd Lake project remains untested by drilling but is strategically located near major discoveries, including F3 Uranium’s Tetra zone (4 km north), NexGen’s Arrow, and Paladin’s Triple R.

Key Details

• Geophysical Survey Results:
  • Conducted by Expert Geophysics Surveys Inc.
  • Covered the southern portion of the Todd Lake property; the northern half was flown in summer 2023.
  • Identified resistivity low trends along the interpreted strike of the Patterson Lake corridor (PLC).
  • The PLC hosts NexGen Energy’s Arrow deposit (20 km east) and Paladin’s Triple R deposits (14 km east).
  • Todd Lake is located 4 km southwest of F3 Uranium’s Tetra zone discovery within the Clearwater domain.
• Corporate Action (Debt Settlement):
  • Settled total debt of $272,916 (revised from $280,306 approved by shareholders).
  • Issued 2,481,053 shares to insiders to settle the debt:
    • Devinder Randhawa (Director): $109,200 for 992,727 shares.
    • Raymond Ashley (CEO): $71,736 for 652,145 shares.
    • Jeremy Polmear (CFO): $33,180 for 301,636 shares.
    • Sam Hartmann (President/COO): $58,800 for 534,545 shares.
  • Transaction classified as a related party transaction under Multilateral Instrument 61-101.
  • Disinterested shareholder approval was obtained; settlement does not exceed 25% of market capitalization.
  • TSX Venture Exchange approved the settlement.
  • No new control person was created.
• Project Context:
  • Todd Lake is 100% owned by F4 Uranium.
  • Located 14 km southwest of Paladin’s Triple R and NexGen’s Arrow.
  • No historic drilling has been conducted on the property.
  • Part of F4’s western Athabasca portfolio, which also includes Clearwater West and Wales Lake projects.

Notable Quotes

• Erik Sehn, Vice-President of Exploration: "F4 is pleased to have completed its first work on our westside flagship Todd Lake project... The results of the survey highlight resistivity low trends on the southern portion of the property that lie along the interpreted strike of the PLC... These results reinforce F4's view that the Todd Lake project holds strong exploration potential in what we think is amongst the most fertile areas in the region."