F3 Hits Strongest Hole to Date with 3.82m of Off-scale (>65,535 cps)

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Kelowna, BC – March 27, 2023 – F3 Uranium Corp. (“F3 Uranium” or the “Company”) (TSXV: FUU – OTCQB: FUUFF – FRA:X42) is pleased to announce scintillometer results from the final nine holes of the winter drill program at the JR Zone on the Patterson Lake North (“PLN”) Property, including five high grade intercepts. Drill hole PLN23-060 collared on line 060S has intersected the strongest radioactivity to date at the JR Zone. It was collared up dip of hole PLN23-052 (see news release February 21, 2023) and intersected radioactivity over 17.5m, including 3.82m of continuous off-scale radioactivity >65,535 cps between 244.0m and 247.82m. PLN23-061 stepped out further to line 075S and resulted in 14.0m of mineralization, including 2.81m of composite off-scale (>65,535 cps) radioactivity within 5.08m of composite radioactivity >10,000 cps. An additional drill hole was added to the program stepping out further along strike on line 090S, where PLN23-062 intersected 6.0 m of composite radioactivity including 1.0m of continuous off-scale (>65,535 cps) radioactivity. These holes expanded the strike length of the JR Zone by another 30m, to a current length of 105m.

Raymond Ashley, Vice President Exploration, commented:

“With the final nine holes of the winter 2023 drill program the technical team is delighted to announce the strongest off-scale radioactivity drilled so far at the JR Zone with infill hole PLN23-060 on line 060S, making it the best hole to date. Moreover, the two holes which have expanded the JR Zone to a current length of 105m both intersected off-scale radioactivity >65,535 cps, hole PLN23-061 which stepped out to line 075S and hole PLN23-62 which stepped out further to line 090S. Additional holes will be planned for the summer program on section 30N as the single hole drilled on that section, PLN23-055, did not intersect mineralization. This is a fantastic ending to a very successful winter program of growing the JR Zone along strike towards the south within the A1 main shear zone, following the direction in which strong continuity of high grade mineralization had been established earlier in the drill program.”

Drilling Highlight:

PLN23-060

17.5m composite mineralization from 231.5m – 253.5m, including
- 4.98m composite mineralization of >10,000 cps between 243.17m – 252.83m, further including 3.82m of continuous off-scale (>65,535 cps) radioactivity from 244.00m – 247.82m (see Photo 1.)

Main Intercepts:

PLN23-054 (line 075S):

14.5m composite mineralization from 244.0m – 269.0m with a peak radioactivity of 6,600 cps from 248.5m – 249.0m

PLN23-056 (line 030S):

11.5m composite mineralization from 237.5m – 249.0m, including
- 1.34m continuous mineralization of >10,000 cps radioactivity between 247.16m – 248.50m with a peak of 32,300 cps

PLN23-057 (line 045S):

7.0m composite mineralization from 246.0m – 268.5m with a peak radioactivity of 1,400 cps from 252.0m – 252.5m

PLN23-058 (line 060S):

1.0 m continuous mineralization from 253.0m – 254.0m with a peak radioactivity of 360 cps

PLN23-059 (line 045S):

17.0m composite mineralization from 238.5m – 255.5m, including
- 1.32m composite mineralization of >10,000 cps radioactivity between 243.18m – 254.00m with a peak radioactivity of 31,100 cps

PLN23-061 (line 075S):

14.0m composite mineralization from 246.0m – 260.0m, including
- 5.08m composite mineralization of >10,000 cps radioactivity between 246.71m – 254.93m, further including 2.81m of composite off-scale (>65,535 cps) radioactivity.

PLN23-062 (line 090S):

6.0m composite mineralization from 240.5m – 256.5m, including
- 1.0m continuous off-scale (>65,535 cps) radioactivity between 246.5m – 247.5m

Natural gamma radiation in the drill core that is reported in this news release was measured in counts per second (cps) using a handheld Radiation Solutions RS-125 scintillometer. The Company considers greater than 300 cps on the handheld spectrometer as anomalous, >10,000 cps as high grade and greater than 65,535 cps as off-scale. The reader is cautioned that scintillometer readings are not directly or uniformly related to uranium grades of the rock sample measured and should be used only as a preliminary indication of the presence of radioactive materials. All depth measurements reported are down-hole and true thickness are yet to be determined. Samples from the drill core are split in half on site and are standardized at 0.5m lengths. One half of the split sample will be submitted to SRC Geoanalytical Laboratories (an SCC ISO/IEC 17025: 2005 Accredited Facility) in Saskatoon, SK. for lithogeochemical analysis using their "Uranium Package".

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.

Photo 1: PLN23-060 Drill Core Photo

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Table 1. Drill Hole Summary and Handheld Spectrometer Results

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Table 1. Drill Hole Summary and Handheld Spectrometer Results (continued)

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Table 1. Drill Hole Summary and Handheld Spectrometer Results (continued)

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Table 1. Drill Hole Summary and Handheld Spectrometer Results (continued)

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About Patterson Lake North:

The Company’s large 39,946 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 A1 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., Vice President of Exploration of F3 Uranium Corp., a Qualified Person. Mr. Ashley has verified the data disclosed.

About F3 Uranium Corp.:

F3 Uranium is a uranium project generator and exploration company, focusing on projects in the Athabasca Basin, home to some of the world’s largest high grade uranium discovery. F3 Uranium currently has 16 projects in the Athabasca Basin. Several of F3’s projects are near large uranium discoveries, including Triple R, Arrow and Hurricane.

On behalf of the Board
Dev Randhawa
Chief Executive Officer

[email protected]

www.fission3corp.com

+1 778 484-8030

www.twitter.com/Fission3Corp

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Forward Looking Statements:

This news release contains certain forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, including statements regarding the suitability of the Properties for mining exploration, future payments, issuance of shares and work commitment funds, entry into of a definitive option agreement respecting the Properties, are "forward-looking statements." These forward-looking statements reflect the expectations or beliefs of management of the Company based on information currently available to it. Forward-looking statements are subject to a number of risks and uncertainties, including those detailed from time to time in filings made by the Company with securities regulatory authorities, which may cause actual outcomes to differ materially from those discussed in the forward-looking statements. These factors should be considered carefully and readers are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

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