Latitude Uranium – Advancing a Top-Tier Uranium Project in Canada's Athabasca Basin

• Recent 18-hole, 5,665 meter drill program extends high-grade uranium mineralization and uncovers new lens at flagship Angilak project
• Results showcase project’s exploration upside and world-class potential; 2024 drill program aims to delineate 100M lb resource
• C$6M financing funds aggressive 2024 exploration plans including 30-35,000 meters of drilling
• Focus remains on expanding known deposit areas and testing new targets across large land package
• Management sees strengthening uranium market fundamentals and Angilak’s positioning as a top-tier global uranium development project

About Latitude Uranium

Latitude Uranium is a Canadian uranium exploration company advancing the high-grade Angilak project located in Nunavut, Canada – in the prolific uranium jurisdiction of the Athabasca Basin. The company’s vision focuses on expanding Angilak into a world-class asset hosting over 100 million pounds of U3O8 resource, underpinning a future low-cost, high-grade uranium mine.

Interview with Chief Executive Officer, John Jentz

Recent Assays Confirm Mineralized Extensions & New Lens

Assay results received in late 2023 for Latitude Uranium’s 18-hole, 5,665 meter drill program deliver on the objectives of extending known high-grade uranium mineralization and discovering new mineralized horizons.

Highlight intercepts include 7.54% U3O8 over 1.6 meters starting at 418.9 meters downhole, confirming substantial depth continuity in a key deposit area. Another hole returned 2.88% U 3O8 over 0.5 meters, once again verifying mineralized extensions to the southwest.

An emerging new lens of hanging wall mineralization could also prove highly impactful, as CEO John Jentz explains: “If this hanging wall theory holds together, we should be able to extend the hanging wall across a large part of the deposit – adding substantial additional mineralization.”

Infill drilling results showcase impressive continuity of host lithologies and grade tenor. Meanwhile, the new lens underscores the project’s strong upside exploration potential. As modeling and interpretation continues, an aggressive 30-35,000 meter 2024 drill campaign takes shape.

Well Positioned to Deliver Resource Growth

Historical drilling outlines uranium mineralization across multiple zones, supporting an NI 43-101 inferred resource of 43 million lbs grading 0.69% U3O8 using a 0.2% cut-off grade. However, this estimate dates from 2013 and requires modern verification.

Through systematic drilling looking to expand known mineralized envelopes, combined with testing new target areas, Latitude Uranium aims to demonstrate significant resource growth in a 2024 estimate update. Results already showcase strong continuity, lending confidence on this objective.

The focused 25-target priority list will no doubt continue evolving as the geology reveals itself. Nonetheless, a robust program funded by a recent C$6 million financing is slated to launch in late Q2.

World Class Asset Attributes

In the context of Angilak containing 43.3 million pounds of uranium, even modest resource growth could substantially elevate the project’s value proposition.

Ultimately, clearly demonstrating a 100+ million lb scalable deposit with grades averaging between 0.5-1% U3O8 would propel Angilak into global Tier-1 asset status. The project already boasts key hallmarks of a world-class uranium development project:

• High-Grade: Historical drilling confirms plus 15% U3O8 mineralized intercepts
• Scale Upside: 16km mineralized system open for expansion
• Exploration Potential: Less than 50% system drill tested; new lens adds intrigue
• Attractive Location: Nunavut’s stability contrasts deficit-laden Arrow project jurisdiction switch
• Critical Input Security: Canada hosts world’s 3rd largest uranium reserves

In combination, these factors position Angilak to potentially emerge as one of the most exciting uranium projects in the pipeline. As uranium prices signal emerging supply deficits amidst surging demand for nuclear power, projects in safe jurisdictions containing quality pounds will attract increasing investor attention.

Bullish on Nuclear Power’s Growth Trajectory

Looking beyond the project specifics, Latitude Uranium’s management remains steadfastly bullish on uranium market dynamics driving higher prices over a multi-year timescale. This bourgeoning narrative bodes exceptionally well for assets like Angilak forecast to reach production around the end of this decade.

From the viewpoint of electricity demand growth and global decarbonization pressures, CEO Jentz sees few alternatives to nuclear stepping up:

“If you need constant baseline power and add in energy security, one solution you can implement today is nuclear. Over the next 5-10 years that makes this a secular uranium bull market in my eyes.”

Jentz suggests the chronic underinvestment upstream in exploration and development has left a debilitating supply lag as pro-nuclear policies see previously mothballed reactors firing up. He points as well to potential new financing solutions from streaming/royalty firms and utilities themselves as evidence of an evolving uranium investment culture.

In summary, whether from the vantage point of its compelling project metrics or favorable thematic backdrop, Latitude Uranium offers investors leverage to a strengthening uranium equity growth story playing out this decade. With catalyst-rich work programs funded and about to launch, the coming year promises to unlock substantial value at Angilak. As this world-class potential gets priced in, early investors have a unique window through which to position ahead of broader market acknowledgment.