North Shore plans H1 2026 drill program at Rio Puerco

Executive Summary

• North Shore Uranium Ltd. has advanced its Rio Puerco uranium project in New Mexico towards a planned H1 2026 drill program, following a systematic analysis of historical data from Kerr-McGee Corp.
• The company developed a preliminary 3-D model of uranium mineralization, identifying potential to expand the known resource beyond the historical estimate in Section 18 and confirming the viability of In Situ Recovery (ISR) mining methods.
• The company has initiated the permit application process with the Bureau of Land Management (BLM) and the state of New Mexico to prepare for the upcoming drilling campaign.

Key Details

• Historical Resource Context: The project hosts a historical resource estimate of 6.0 million tonnes at an average grade of 0.09% eU3O8 for 11.4 million pounds of U3O8, based on data from over 1,000 drill holes completed by Kerr-McGee in the 1960s and 1970s.
• Drill Program Plans: North Shore is planning an H1 2026 drill program designed to verify interpreted zones of uranium mineralization within the historical resource and confirm the mineralization footprint outside of the known historical area.
• Mining Method: Historical data supports the potential for In Situ Recovery (ISR), described as the lowest-cost method for producing uranium.
• Regulatory Status: The company has begun the permit application process with the Bureau of Land Management (BLM) and the state of New Mexico.
• Historical Drill Intersections (Cross-section 18-005):
  • Hole 18-25: 3.2 metres at 0.14% eU3O8 from 177.4 m; 1.4 m at 0.22% eU3O8 from 182.7 m.
  • Hole 18-25C: 3.4 m at 0.3% eU3O8 from 181.5 m.
  • Hole 18-727: 0.5 m at 0.13% eU3O8 from 177.4 m; 4.3 m at 0.09% eU3O8 from 178.0 m; 0.5 m at 0.11% eU3O8 from 183.8 m.
  • Hole 18-575: 2.4 m at 0.18% eU3O8 from 178.6 m; 1.2 m at 0.31% eU3O8 from 184.0 m.
• Geological Setting: Mineralization is hosted primarily by the Jurassic-aged Morrison formation, specifically the Westwater Canyon member, consisting of sandstone ribbons or lenses.
• Project History: The Rio Puerco mine was developed by Kerr-McGee in the 1970s but never entered full production due to low uranium prices. Infrastructure includes a 260 m vertical shaft and existing road access.
• Ownership: The 64 BLM claims are subject to an option agreement allowing North Shore to acquire up to an 87.5% interest from Resurrection Mining LLC.
• Disclaimer: The historical resource has not been verified by a qualified person under NI 43-101 and is not current; it is used to justify the initiation of new work programs.

Notable Quotes

• "North Shore's Rio Puerco project in New Mexico, USA, hosts a significant historical uranium resource with excellent upside, including the potential for confirming uranium mineralization outside of the known historical resource in Section 18. We look forward to future drill programs at Rio Puerco which will be designed to both confirm and expand upon the known uranium mineralization." — Brooke Clements, President and CEO