F4 Uranium Expands Athabasca Basin Footprint With New Kelic Lake Project

• F4 Uranium Corp has acquired the 4,835 hectare Kelic Lake project on the southern margin of the Athabasca Basin in northern Saskatchewan through map staking.
• The property lies approximately 55 kilometres southeast of NexGen Energy's Arrow deposit and Paladin's Triple R deposit, and 43 kilometres southwest of Cameco's Centennial deposit.
• A 1978 drill hole, KLL-3, returned 191 ppm U3O8 over 0.61 metres just above the unconformity, together with 205 ppm nickel, an element commonly used as a pathfinder for this style of mineralisation.
• A 2015 drill program by a previous operator recorded sandstone alteration and a graphitic, fault-affected basement at the property.
• The acquisition brings F4's total portfolio to 17 properties covering approximately 124,000 hectares across the Athabasca Basin.

F4 Uranium Corp (TSXV: FFU) (OTCQB: FFUCF) is a Canada-based uranium exploration company focused on the Athabasca Basin in northern Saskatchewan. The company is led by a management and technical team with a history of uranium discoveries in the basin, including Patterson Lake North and Broach Lake. Its portfolio, spun out from F3 Uranium in 2024, comprises 17 wholly owned properties totalling approximately 124,000 hectares, several of which are located near established deposits such as Triple R, Arrow and Hurricane. F4 explores on both the western and eastern sides of the basin, operating as an explorer and project generator.

Acquisition of the 4,835 Hectare Kelic Lake Project on the Southern Margin of the Athabasca Basin

F4 Uranium acquired Kelic Lake through map staking, a process of securing mineral claims against a government land map rather than physically marking ground. The property straddles the southern margin of the Athabasca Basin and lies within approximately 55 kilometres of deposits held by NexGen Energy and Paladin, and 43 kilometres of a deposit held by Cameco.

According to F4, the property's basin margin position provides exploration potential for both unconformity-hosted and basement-hosted uranium mineralisation, the two main styles found in the Athabasca Basin.

Erik Sehn, Vice President Exploration at F4 Uranium, said:

"Kelic Lake is F4's first project on the southern margin of the Athabasca Basin, opening a new exploration front for the Company, and it has many of the key attributes we look for in uranium exploration: it straddles the southern margin of the Athabasca Basin, has shallow sandstone cover, ranging from absent outside of the basin margin to less than 200 metres, and has seen extensive historical exploration."

Historical Drilling Confirms Sandstone Alteration, Graphitic Basement and Anomalous Uranium Near the Unconformity

The unconformity, the boundary between sandstone cover and older basement rock, is where much of the Athabasca Basin's uranium mineralisation has historically formed. At Kelic Lake, drill hole KLL-3, completed in 1978, intersected 191 ppm U3O8 over 0.61 metres immediately above this boundary, along with 205 ppm nickel, a pathfinder element commonly associated with this style of mineralisation in the basin.

A 2005 airborne magnetic and electromagnetic survey identified several conductive zones on the property. The highest priority zone trends northwest to southeast and continues onto the northern part of Kelic Lake, while a separate anomaly aligns with a major north-south structural break.

Drilling completed in 2015 by a previous operator intersected extensive bleaching and desilicification of the sandstone, interpreted as fault related, along with hematization and chloritization near the unconformity and a thick graphitic, pyrite-bearing basement zone. Together, sandstone alteration, a conductive graphitic basement and confirmed anomalous uranium are the attributes F4 has cited as central to its targeting model for the property. The historical results were obtained by previous operators, and analytical and quality-control procedures used at the time are not documented in the available records.

Portfolio Expansion to 17 Properties Totalling 124,000 Hectares Across the Western Athabasca Basin

With Kelic Lake added, F4's holdings in the southwestern Athabasca Basin grow to 17 properties totalling approximately 124,000 hectares.

Prior work on the property included diamond drilling, airborne and ground electromagnetic surveys, and gravity and radiometric surveys.

F4's broader portfolio includes properties on both the eastern and western sides of the Athabasca Basin, with several positioned near established deposits held by NexGen Energy, Paladin and IsoEnergy.

Milestones and Next Steps

F4's technical team will now compile, review and analyse the historical drilling, geophysical and assay data held for Kelic Lake, work that will inform the design of the company's first drill program on the property. The announcement of that program is the next disclosed step for the project.

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