F3 Hits 4.0m of 29.3% U3O8 within 10.3% over 12.0m

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Kelowna, BC – November 13, 2023 – Corp. (“F3 Uranium” or the “Company”) (TSXV: FUU – OTCQB: FUUFF – FRA:X42) is pleased to announce initial assay results for the ongoing drill program, including PLN23-079 (see NR August 14, 2023) which returned 12.0m of 10.3% U3O8, including a high grade 6.5m interval averaging 18.9% U3O8, further including an ultra-high grade core of 2.5m of 38.8% U3O8.

A 3D -DCIP survey by Dias Geophysical is currently underway, with an initial focus on the JR Zone and A1B areas. F3 anticipates those survey results to provide additional input into the geological and geophysical models of the A1 and A1B areas including the JR Zone, which will enhance drill targeting for the ongoing fall drill program and beyond.

Assay Highlight:

PLN23-079 (line 045S): mineralized intervals

12.0m @ 10.3% U3O8 (231.5m to 243.5m), including:
6.5m @ 18.9% U3O8 (233.0m to 239.5m), further including:
4.5m @ 38.8% U3O8 (235.5 m to 238.0m)

Main ZR Zone Intercepts:

PLN23-063 (line 030S): mineralized intervals

11.5m @ 0.63% U3O8 (233.0m to 244.5m), including
2.0m @ 1.97% U3O8 (236.0m to 238.0m), and
1.0m @ 1.75% U3O8 (243.5m to 244.5m), and

PLN23-064 (line 105S): mineralized intervals

16.5m @ 0.53% U3O8 (233.5m to 250.0m), including
5.5m @ 1.21 U3O8 (237.5m to 243.0m)

PLN23-073 (line 060S): mineralized intervals

8.5m @ 2.14% U3O8 (221.5m to 230.0m), including
1.0m @ 17.2% U3O8 (225.0m to 226.0m)

PLN23-074 (line 075S): mineralized intervals

15.0m @ 0.37% U3O8 (225.0m to 240.0m), including
0.5m @ 2.58% U3O8 (228.0m to 228.5m), and
0.5m @ 1.64% U3O8 (233.0m to 233.5m)

PLN23-077 (line 090S): mineralized intervals

10.0m @ 0.37% U3O8 (226.5m to 236.5m), including
1.0m @ 2.24% U3O8 (234.0m to 235.0m)

Table 1. Drill Hole Summary and Uranium Assay Results

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Assay composite parameters:

1: Minimum Thickness of 0.5 m

2: Assay Grade Cut-Off: 0.05% U3O8 (weight %)

3. Maximum Internal Dilution: 2.0 m

Composited weight % U3O8 mineralized intervals are summarized in Table 1. Samples from the drill core are split in half sections on site. Where possible, samples are standardized at 0.5m down-hole intervals. One-half of the split sample is sent to SRC Geoanalytical Laboratories (an SCC ISO/IEC 17025: 2005 Accredited Facility) in Saskatoon, SK while the other half remains on site for reference. Analysis includes a 63 element suite including boron by ICP-OES, uranium by ICP-MS and gold analysis by ICP-OES and/or AAS.

The Company considers uranium mineralization with assay results of greater than 1.0 weight % U3O8 as “high grade” and results greater than 20.0 weight % U3O8 as “ultra-high grade”.

All depth measurements reported are down-hole and true thickness are yet to be determined but the Company estimates true thickness of the reported intervals in this news release to be close to reported interval widths.

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

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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 maps below and cross sections at PLN JR Zone| F3 Uranium Corp. under “Sections”