Blast Resources Announces Intent to Complete NI 43-101 Technical Report on the Wales Lake South Uranium Project
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Blast Resources Announces Intent to Complete NI 43-101 Technical
Report on the Wales Lake South Uranium Project
September 2, 2025
Vancouver, British Columbia — Blast Resources Inc. (“ Blast” or the “ Company”) (CSE: BLST | FSE:
O0E) is pleased to announce that it has contracted Mr. Steven R. McMullen to complete a Technical Report
(the “Report”) in accordance with National Instrument 43-101 on its 100% owned Wales Lake South Project
(“Project”) located in the highly prospective southwestern Athabasca Basin region of northern
Saskatchewan, Canada. Mr. McMullan has world -wide experience in mineral exploration and is a
Registered Professional Geoscientist (P. Geo) in Saskatchewan and a Qualified Person under NI43 -101
definition.
The purpose of the Report is to provide a comprehensive update on the Wales Lake South Uranium Project
including all available historical data that the Company has gathered, in addition to newly acquired Airborne
Magnetic Survey data and sampling informati on from 2024. The Report will offer valuable insights by
compiling existing data, previous work, and new technology to better guide future programs.
Gary Claytens, Chief Executive Officer of the Company, commented, “Announcing our company’s intent to
complete a technical report on our Wales Lake Project represents a pivotal moment in our development.
We’re excited to have contracted Professional Geosci entist Mr. Steven R. McMullen who is expected to
complete the Technical Report utilizing historical data and newly obtained data from our Airborne Magnetic
Survey. Moving forward, we’re eager to drive advancement and future exploration at our project locat ed in
the world class Athabasca Basin.”
The Wales Lake Project includes three claim blocks —Britt Lake, Brazier South, and North Agar —
encompassing roughly 35,440 hectares. Situated in the Taltson Domain, the project features intricate
geological structures ideal for basement-hosted uranium deposits, comparable to those at Arrow (NexGen),
Triple R (Fission), and Rabbit Lake (Cameco). It lies approximately 1.5 kilometres west of Provincial
Highway 955, an all-season gravel road linking La Loche to the former Cluff Lake uranium mine, with access
to the western section provided by established bush roads and trails.
The Company has granted an aggregate of 100,000 stock options to a consultant of the Company pursuant
to its omnibus equity incentive plan. The stock options are exercisable at a price of $0.25 per share and
expire three years from the date of grant. 100% of the stock options vest immediately.
Qualified Person Statement
The scientific and technical information contained in this news release was prepared and approved by
Locke Goldsmith, M.Sc., P.Eng., P. Geo., and who is a Qualified Person as defined by National Instrument
43-101 – Standards of Disclosure for Mineral Projects.
About Blast Resources Inc.
Blast Resources (CSE: BLST) is a mineral exploration company trading on the Canadian Securities
Exchange. The Company is currently focused on exploration at its flagship Wales Lake Uranium Project .
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Situated south of Wales Lake and positioned just outside the southwest margin of the Athabasca Basin,
the Project is strategically located within the Patterson Lake Corridor which hosts two significant uranium
deposits (Triple R Deposit, 2.2 Mt @ 1.58 U308 and 0.51 g/t Au & the Arrow Deposit which is the largest
source of low -cost uranium globally, delivering up to 30 million pounds of high -grade uranium per
year). The deposits represent one of the largest high -grade uranium systems globally, comparable to
world-class deposits such as McArthur River, Cigar Lake, and Key Lake.
ON BEHALF OF THE BOARD
Gary Claytens
President and CEO
For further information, please contact:
E-mail: [email protected]
Website: www.blastresources.com
Forward-Looking Statement (Safe Harbor Statement):
This press release contains forward looking statements within the meaning of applicable securities laws. The use of
any of the words “anticipate”, “plan”, “continue”, “expect”, “estimate”, “objective”, “intends” “may”, “will”, “project”,
“should”, “predict”, “potential” and similar expressions are intended to identify forward looking statements. In particular,
this press release contains forward looking statements concerning the completion of the debt settlement.
Although the Company believes that the expectations and assumptions on which the forward -looking statements are
based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company
cannot give any assurance that t hey will prove correct. Since forward looking statements address future events and
conditions, they involve inherent assumptions, risks and uncertainties. Actual results could differ materially from those
currently anticipated due to a number of assumptions, factors and risks. These assumptions and risks include, but are
not limited to, assumptions and risks associated with mineral exploration generally and results from anticipated and
proposed exploration programs, conditions in the equity financing markets, and assumptions and risks regarding receipt
of regulatory and shareholder approvals
Management has provided the above summary of risks and assumptions related to forward looking statements in this
press release in order to provide readers with a more comprehensive perspective on the Company’s future operations.
The Company’s actual results, performance or achievement could differ materially from those expressed in, or implied
by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated
by the forward-looking statements will transpire or occur, or if any of them do so, what benefits the Company will derive
from them. These forward-looking statements are made as of the date of this press release, and, other than as required
by applicable securities laws, the Company disclaims any intent or obligation to update publicly any forward -looking
statements, whether as a result of new information, future events or results or otherwise.
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accepts responsibility for the adequacy or accuracy of this release.