FUU.V · 2023-05-15 12:00:00

F3 Hits 16.1% U3O8 over 3.0m within 4.6% over 12.5m in 75m Step-out from A1 Discovery Summer Drilling to Commence Early June

Drill Results

F3 Hits 16.1% U3O8 over 3.0m within 4.6% over

12.5m in 75m Step-out from A1 Discovery

Summer Drilling to Commence Early June

Kelowna, British Columbia--(Newsfile Corp. - May 15, 2023) -

F3 Uranium Corp

(

TSV: FUU

)

(

OTCQB: FUUFF

) ("

" or "

the Company

") is pleased to announce final results from the 9 remaining

drill holes of the 21 hole Winter 2023 program, including drill hole PLN23-061, drilled at the JR Zone on

the Patterson Lake North (PLN) property. The analysis for PLN23-061, cored 75m grid south from the

discovery hole, returned one continuous

12.5m interval averaging 4.6% U

including a high-

grade 5.0m interval averaging 10.9% U

, which further includes a 3.0m interval which assayed

16.1%

Planning is in progress for a $12M summer exploration program, scheduled to commence early June, to

continue JR Zone expansion, in addition to exploration along the A1 Main Shear Zone where previous

drilling in 2014 and 2019 intersected the same structure as what is interpreted to be hosting the JR

Zone. The work permits for the program have been received from the Saskatchewan Ministry of

Environment.

Final assay results from 7 mineralized drill holes are disclosed below in Table 1, including drill holes

PLN23-053 through PLN23-059, and drill holes PLN23-061 and PLN23-062.

Raymond Ashley, President, commented:

"This final release of assays from the Winter 2023 program at PLN confirms the previously reported

scintillometer results that drill holes PLN23-061 and PLN23-062 that were cored furthest to the south

from the discovery hole, 75m and 90m respectively, intersected the ultra-high-grade core with

individual samples returning in excess of 20.0%

. The JR Zone has now been defined over a

total strike length of 105 meters and the upcoming summer program will aim to extend the zone in

particular to the south, where assays from drill holes PLN23-060, 061 and 062 have shown that

mineralization continues along strike, and up-dip towards the Athabasca Unconformity.

Drilling Highlights:

PLN23-061

(line 075S): mineralized intervals:

12.5m @ 4.6% U

(246.5m to 259.0m), including:

5.0m @ 10.9% U

(250.0m to 255.0m), further including

3.0m @ 16.1% U

(251.0m to 254.0m)

Main Intercepts:

PLN23-053

(line 030S): mineralized intervals:

9.0m @ 1.9%

(245.5m to 254.5m), including

2.5m @ 6.4% U

(251.0m to 253.5m), further including

1.0m @ 11.5% U

(251.5m to 252.5m)

PLN23-054

(line 075S): mineralized intervals:

0.5m @ 0.119 % U

(244.5m to 245.0m), and

8.0m @ 0.118% U

(247.5m to 255.5m), and

0.5m @ 0.222% U

(266.5m to 267.0m)

PLN23-056

(line 030S): mineralized intervals:

3.0m @ 0.279% U

(241.0m to 244.5m), and

3.0m @ 2.72% U

(246.5m to 249.5m), including

1.5m @ 5.25% U

(247.0m to 248.5m)

PLN23-057

(line 045S): mineralized intervals:

5.5m @ 0.065

(249.0m to 254.5m), and

0.5m @ 0.25% U

(257.0m to 257.5m), and

0.5m @ 0.078% U

(268.0m to 268.5m)

PLN23-059

(line 045S): mineralized intervals:

7.0m @ 0.98% U

(239.0m to 246.0m), including

1.0m @ 5.54% U

(243.0m to 244.0m), and

0.5m @ 0.304% U

(248.5 to 249.0m), and

4.0m @ 0.82% U

(251.5m to 255.5m), including

0.5m @ 5.46%

(253.5m to 254m)

PLN23-062

(line 090S): mineralized intervals:

2.0m @ 0.077%

(240.5m to 242.5m), and

3.0m @ 5.0% U

(245.5m to 248.5m), including

1.0m @ 15.0% U

(246.5m to 247.5m), and

0.5m @ 0.371% U

(256.0m to 256.5m)

Table 1: Assay Results

Collar Information

Assay Results

Hole ID

Grid Line

Easting

Northing

Elevation

Dip

From (m)

To (m)

Interval (m)

U3O8 weight %

PLN23-053

030S

587697.8

6410700.7

545.1

54.5

-60.7

245.50

251.00

5.50

0.049

251.00

253.50

2.50

6.39

incl

251.50

252.50

1.00

11.5

253.50

254.50

1.00

0.519

262.50

263.00

0.50

0.058

PLN23-054

075S

587713.9

6410660.4

545.7

53.9

-58.2

244.50

245.00

0.50

0.119

247.50

255.50

8.00

0.118

266.50

267.00

0.50

0.222

PLN23-055

030N

587668.4

6410756.9

545.4

54.0

-55.5

no mineralization > 0.05% U3O8

PLN23-056

030S

587705.0

6410718.0

545.2

54.2

-59.5

241.00

244.00

3.00

0.279

246.50

247.00

0.50

0.126

247.00

248.50

1.50

5.25

248.50

249.50

1.00

0.233

PLN23-057

045S

587704.3

6410689.5

544.9

55.2

-62.3

249.00

254.50

5.50

0.065

PLN23-058

060S

587715.7

6410678.4

544.5

54.6

-64.9

no mineralization > 0.05% U3O8

PLN23-059

045S

587717.0

6410702.1

545.1

55.4

-61.1

239.00

243.00

4.00

0.275

243.00

244.00

1.00

5.54

244.00

246.00

2.00

0.111

248.50

249.00

0.50

0.304

251.50

253.50

2.00

0.124

253.50

254.00

0.50

5.56

254.00

255.50

1.50

0.202

PLN23-061

075S

587720.0

6410666.7

545.5

54.6

-56.6

246.50

251.00

4.50

1.57

251.00

254.00

3.00

16.1

254.00

255.00

1.00

2.18

255.00

259.00

4.00

0.093

269.50

270.00

0.50

0.066

PLN23-062

090S

587732.4

6410655.3

544.7

54.7

-57.7

240.50

242.50

2.00

0.077

245.50

246.50

1.00

0.054

246.50

247.50

1.00

15.0

247.50

248.50

1.00

0.105

256.00

256.50

0.50

0.371

Assay composite parameters:

1: Minimum Thickness of 0.5 m

2: Assay Grade Cut-Off: 0.05% U

(weight %)

3. Maximum Internal Dilution: 2.0 m

Composited weight % U

mineralized intervals are summarized in Table 1. Samples from the drill

core are split in half sections on site. Where possible, samples are standardized at 0.5m down-hole

intervals. One-half of the split sample is sent to SRC Geoanalytical Laboratories (an SCC ISO/IEC

17025: 2005 Accredited Facility) in Saskatoon, SK while the other half remains on site for reference.

Analysis includes a 63 element suite including boron by ICP-OES, uranium by ICP-MS and gold analysis

by ICP-OES and/or AAS. 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. The Company considers uranium mineralization with assay results

of greater than 1.0 weight % U

as "high grade" and results greater than 20.0 weight % U

"ultra-high grade".

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 uranium deposits, an area 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 JR Zone 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., President & COO 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.

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 the 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 because of new information, future events or otherwise, unless so required by

applicable securities laws.

The TSX Venture Exchange and the Canadian Securities Exchange have not reviewed, approved, or

disapproved the contents of this press release, and do not accept responsibility for the adequacy or

accuracy of this release.

F3 Uranium Corp.

750-1620 Dickson Avenue

Kelowna, BC V1Y9Y2

Contact Information

Investor Relations

Telephone: 778 484 8030

Email:

[email protected]

ON BEHALF OF THE BOARD

"Dev Randhawa"

Dev Randhawa, CEO

Figure 1