Gamma starts work programs at Green River, Mesa Arc

Executive Summary

• Gamma Resources Ltd. has initiated its first major work programs at its U.S. uranium assets, specifically the Green River project in Utah and the Mesa Arc project in New Mexico.
• At Green River, an airborne survey is underway to identify historic boreholes for downhole gamma logging, with results expected by December 2025 to support an initial resource estimate.
• At Mesa Arc, a 20-hole (6,500-foot) drill program has been designed to twin historic holes and test stepout targets, including the Todilto formation; permitting is underway with drilling anticipated to begin in Q2 2026.

Key Details

• Green River Project (Utah):

  • Activity: Detailed airborne survey currently in progress to identify historic boreholes and open collars for downhole gamma logging.
  • Objective: Support development of an initial resource estimate and guide future staking opportunities.
  • Timeline: Completion of airborne survey and data interpretation expected by the second week of December 2025. Follow-up exploration and land acquisition planned for H1 2026.
  • Location/Context: Located in Emery County's San Rafael mining district; includes 41 royalty-free lode claims. Adjacent to Western Uranium & Vanadium's San Rafael project and 11 km from Maverick Minerals processing plant.
  • Historical Data: Area hosts historical deposits totaling 5.3 million lbs U3O8 (Gatten, 2014) and past production of 1 million lbs U3O8 (Willbanks, 1982). Geological setting is prospective for in situ recovery (ISR).

• Mesa Arc Project (New Mexico):

  • Activity: Finalized preliminary work budget and drill plan; permit applications submitted to the U.S. Forest Service (USFS).
  • Drill Program: Designed for 20 holes totaling 6,500 feet.
  • Objectives: Twin historic holes, test stepout targets along open extensions of known mineralization, and target the deeper Todilto formation (prolific uranium-bearing horizon with >17 million lbs historical production).
  • Timeline: Permitting and technical preparations expected complete by mid-December 2025. Drilling anticipated to begin in Q2 2026.
  • Land Position: Comprises 41 lode mining claims, recently expanded by 185 new federal claims to total approximately 4,520 acres.
  • Historical Data: Previous drilling by Magnum Uranium Corp. (2006) outlined a non-NI 43-101 historical estimate of 2.5 to 3.0 million lbs U3O8.

• Corporate Update:

  • Engaged Departures Capital Inc. for investor communications and marketing advisory services.
  • Terms: Initial term of 12 months; fee of $30,000. No share options or non-cash compensation. Subject to TSX Venture Exchange approval.

• Regulatory/Technical:

  • Anders Hogrelius (SME-RM, MAIG), a director and qualified person, has reviewed and approved the scientific and technical disclosure.
  • Historical estimates are not treated as current resources/reserves; select historic holes will be twinned to verify grade.

Notable Quotes

• "This marks the beginning of a significant new phase for Gamma. With active work programs now under way at both Green River and Mesa Arc, our team is executing on a clear road map toward defining resources, building technical confidence and expanding our U.S. uranium footprint. These initiatives demonstrate our commitment to unlocking the full potential of our projects and contributing to secure, domestic uranium supply in North America." — Gabriel Alonso-Mendoza, President and CEO