Drilling Continues at JR Zone While Ground Geophysics Commences on A1B

This news release is not for distribution to U.S. newswire services for dissemination in the United States.

Kelowna, BC – October 24, 2023 – Corp. (“F3 Uranium” or the “Company”) (TSXV: FUU – OTCQB: FUUFF – FRA:X42) is pleased to announce that the results of the airborne MobileMT electromagnetic survey that was flown over the PLN property this summer indicates that the prospective conductive corridor which hosts the JR Zone discovery at its north end now has a one third increase in total strike length to 4.9 km, displaying an extension of 1.3 km further to the SE than the previously defined historical A1 and parallel and offset A1B conductors (see plan map below).

Mobilization has commenced for a 3D ground resistivity survey to obtain a signature over the JR Zone and to develop targets for drilling in 2024 over the A1B conductor, ~3km south of the JR Zone, and the newly defined southeastern 1.3km extension to the conductive corridor. Recent results of ongoing drilling at A1B have identified anomalous radioactivity along with very intense alteration in the sandstone and basement (see NR dated October 15, 2023) which are characteristics often observed in proximity to mineralization. The area to be surveyed with 3d resistivity is based on an interpretation of the 2D results of the airborne MobileMT electromagnetic survey. A 3D inversion of the data being produced by Geotexera is anticipated to provide additional insight and a basis for planning additional ground geophysical surveys to be carried out early next winter.

Raymond Ashley, President commented:

”Drilling continues at the JR Zone filling in up and down dip on section lines where the mineralization remains open. A second drill is also continuing to focus on exploration drilling to the south of the JR Zone along the A1B conductor where encouraging signs for potential proximal mineralization are being encountered. We are excited that the ground 3D resistivity survey is about to commence to provide a signature over the JR Zone and to help define targets for the aggressive drilling programs coming in 2024 that will allow us to home in on the next mineralized zone along the newly extended A1 and A1B conductive corridor. We are looking forward to releasing our first assay results for the summer program in the near term.”

About Patterson Lake North:

The Company’s 4,078-hectare 100% owned Patterson Lake North property (PLN) is located just within the south-western edge of the Athabasca Basin in proximity to Fission Uranium’s Triple R and NexGen Energy’s Arrow high-grade world class uranium deposits which is poised to become the next major area of development for new uranium operations in northern Saskatchewan. PLN is accessed by Provincial Highway 955, which transects the property, and the new JR Zone uranium discovery is located 23km northwest of Fission Uranium’s Triple R deposit.

Qualified Person:

The technical information in this news release has been prepare in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and approved on behalf of the company by Raymond Ashley, P.Geo., President COO of F3 Uranium Corp, a Qualified Person. Mr. Ashley has verified the data disclosed.

About F3 Uranium Corp.:

F3 Uranium is advancing the newly discovered high-grade JR Zone on the PLN Property in the Western Athabasca Basin. This area of Saskatchewan is poised to become a major uranium producing region and is home to large deposits including Triple R, Arrow and Shea Creek. F3 Uranium currently holds 18 projects across the Athabasca Basin.

On behalf of the Board
Dev Randhawa
Chief Executive Officer

F3 Uranium Corp.

750-1620 Dickson Avenue

Kelowna, BC, V1Y9Y2

Contact Information

[email protected]

www.f3uranium.com

+1 778 484-8030

www.twitter.com/F3Uranium

About this press release:
In Germany this press release is brought to you by www.aktien.news – your German news platform for international commodity stocks. For more information visit https://www.akt.ie/nnews.

Forward Looking Statements:

This news release contains "forward-looking information or statements" within the meaning of applicable securities laws, which may include, without limitation, statements with respect to the closing of the Debenture issuance and the ability to satisfy the conditions thereof, including receipt of all necessary regulatory approvals and/or the acceptance of the TSXV, the use of proceeds, the participation by others in a similar financing, and the potential for development of new uranium operations in northern Saskatchewan. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of metals, the ability to achieve its goals, that general business and economic conditions will not change in a material adverse manner and that financing will be available if and when needed and on reasonable terms. Such forward-looking information reflects the Company's views with respect to future events and is subject to risks, uncertainties and assumptions, including those filed under the Company's profile on SEDAR+. Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, adverse weather conditions, failure to obtain the necessary equipment or machinery, failure to maintain all necessary government permits, approvals and authorizations, failure to maintain community acceptance (including First Nations), increase in costs, litigation, and failure of counterparties to perform their contractual obligations. The Company does not undertake to update forward-looking statements or forward-looking information, except as required by law.

The TSX Venture Exchange has not reviewed, approved or disapproved the contents of this press release, and do not accept responsibility for the adequacy or accuracy of this release.

(See Plan Map below)

A map of a power plant

Description automatically generated with medium confidence