Eastport Expands Drilling Program at Foley Uranium Project in Botswana Following Completion of Phase 1 Drill Program
Eastport Expands Drilling Program at Foley
Uranium Project in Botswana Following
Completion of Phase 1 Drill Program
Vancouver, British Columbia--(Newsfile Corp. - March 12, 2026) -
Eastport Critical Minerals
Corp.
(
TSXV: EVI) (OTCQB: EVIIF
) ("Eastport" or the "Company") is pleased to provide an update on
its ongoing exploration activities at the Foley Uranium Project, located immediately north of the
Letlhakane uranium deposit in Botswana's Central District, one of the largest undeveloped Uranium
deposits in the world.
Highlights:
Initial drilling fences, spanning approximately 3.5 kilometres
in width, have revealed
consistent radioactive anomalies that remain open-ended, prompting a strategic shift to wider-
spaced drilling to delineate the system's potential boundaries [
see figure 1
]
The Company is fast-tracking Phase 2 exploration
by increasing drill spacing to 1-kilometer
centres along strike, aiming to constrain the edges of mineralization and define a district-scale
exploration target. [
see figure 2
]
Encouraging gamma logging results
from the first three fences have exceeded the team's
expectations, supporting accelerated efforts to explore the broader uranium-hosting potential in the
shallow Karoo sediments.
[Figure 1: Phase 1 Drilling at Foley]
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Eastport's RC (reverse circulation) drilling program focuses on sampling the unconformable Karoo
sediments overlying the basement, using gamma logging and handheld spectrometers to identify
uranium-bearing horizons. While the Foley Project was initially targeted for uranium mineralization within
paleo-channel features [ancient river-like pathways etched into the basement rocks] recent drilling has
indicated a more extensive system. This evolving interpretation aligns with a "uranium wash" model,
where mineral-rich fluids have potentially infiltrated broader sedimentary layers, similar to sheet-like
dissemination observed in other regional deposits.
The completed drill fences have shown persistent gamma radiation signals across multiple holes drilled
on 200m and 400m spacing.
Anomalous gamma readings were measured at or above the basement
contact across a 3.5km strike on both fences suggesting the mineralization extends beyond initial
assumptions without yet encountering defined edges. This has led to the decision to expand spacing in
Phase 2, vectoring toward a compliant exploration target once the system's lateral extents are better
understood.
[Figure 2: Yellow Collars: Phase 2 Drilling on 1km Centres]
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"These early indicators are highly motivating," said Burns Singh Tennent-Bhohi, CEO of Eastport. "What
started as a channel hunt now points to something much larger, similar to discovering a vast floodplain
instead of a single stream. We're prioritizing edge definition to unlock Foley's full potential to accelerate
the establishment of a compliant exploration target."
Foley Project Location
The Foley Uranium Project (PL113/2020) is located approximately 75 km south of Francistown in the
Central District of Botswana, directly abutting the Lotus Resources' licences that hosts their world-scale
Letlhakane Uranium Deposit, one of the world's largest undeveloped uranium resources. Positioned
along the proven Karoo palaeo-channel fairway, the project enjoys excellent infrastructure, including
sealed highway access via the A14, close proximity to the national power grid, abundant groundwater for
processing, and ready availability of drilling contractors, equipment, and skilled labour from nearby
mining hubs.
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Qualified Person
The information in this news release has been reviewed and approved by Liz de Klerk
Pri.Sci.Nat.,FIMMM, of Micon International, an independent consultant of the Company and Qualified
Persons as that term is defined in National Instrument 43-101.
Assays from the initial drilling are pending, and the Company cautions that gamma data alone does not
confirm economic mineralization. Phase 2 drilling is scheduled to commence in the Q2, and the
Company will provide further updates upon commencement.
All exploration activities are conducted in
compliance with NI 43-101 standards, with results subject to verification by qualified persons.
Location Map of Eastport's Projects in Botswana
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About Eastport Ventures Inc.
Eastport Ventures is a disruptive critical minerals development company advancing five projects in
Botswana, with cumulative historical and current expenditures approaching $20 million. The Company's
most advanced asset is the Matsitama Copper Project, which hosts multiple sizeable targets across the
Matsitama copper district.
The Company's additional projects include Selebi East, a nickel-copper-cobalt project located seven
kilometres east of the historic Selebi Mines; the Semarule Rare Earth Elements Project, positioned
within the Gaborone-Molepolole corridor; the Foley Uranium Project, adjoining the Letlhakane uranium
deposit; and the Keng Project, which targets nickel, copper and PGE's on the northern margin of the
Molopo Farms Complex.
Botswana is widely regarded as one of Africa's strongest mining jurisdictions, combining the continent's
highest GDP per capita with a 50-year track record of large-scale mineral development since the Orapa
diamond discovery in 1967. The country ranks among the top performers globally on the Fraser
Institute's Investment Attractiveness Index and is the highest-rated jurisdiction in Africa on the Policy
Perception Index. These rankings reflect Botswana's stable regulatory environment, consistent rule of
law, and long-standing support for responsible mineral development - factors that have underpinned
significant investment and major M&A activity in the natural resources sector in recent years.
For further information about Eastport Ventures Inc., please contact:
Burns Singh Tennent-Bhohi
CEO and Director, Eastport Ventures Inc.
Disclaimer for Forward-Looking Information
This news release contains forward-looking statements including but not limited to statements
regarding the Company's business, assets or investments, as well other statements that are not
historical facts. Readers are cautioned not to place undue reliance on forward-looking statements, as
there can be no assurance that the plans, intentions or expectations upon which they are based will
occur.
By their nature, forward-looking statements involve numerous assumptions, known and
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predictions, forecasts, projections and other forward-looking statements will not occur, which may
cause actual performance and results in future periods to differ materially from any estimates or
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These assumptions, risks and uncertainties include, among other things, the state of the economy in
general and capital markets in particular, investor interest in the business and prospects of the
Company.
The forward-looking statements contained in this news release are made as of the date of this news
release. Except as required by law, the Company disclaims any intention and assumes no obligation
to update or revise any forward-looking statements, whether as a result of new information, future
events or otherwise, except as required by applicable securities law. Additionally, the Company
undertakes no obligation to comment on the expectations of, or statements made, by third parties in
respect of the matters discussed above.
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in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of
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