Gamma Resources Commences Work Programs at U.S. Uranium Projects in Utah and New Mexico
Gamma Resources Commences Work Programs at U.S. Uranium Projects
in Utah and New Mexico
Vancouver, British Columbia, November 13,2025 – Gamma Resources Ltd. (TSX-V: GAMA;
OTCPK: MLLOF; FRA: MRDN) (“Gamma” or the “Company”) is pleased to announce that it has
initiated work programs across both its Green River Uranium Project in Utah and Mesa Arc
Uranium Project in New Mexico. These programs represent Gamma’s first major steps toward
advancing its U.S. uranium portfolio, laying the foundation for upcoming resource estimation,
permitting, and drilling initiatives.
Highlights
• Work Initiated Across U.S. Uranium Portfolio: Field programs underway at both the
Green River (Utah) and Mesa Arc (New Mexico) projects mark Gamma’s first major steps
toward advancing its U.S. uranium assets.
• Green River – Airborne Survey in Progress: A detailed airborne program is identifying
historic boreholes and open collars for downhole gamma logging to support an initial
resource estimate and guide future staking (Figure 1). Results are expected by year end
2025.
• Mesa Arc – Drilling and Permitting Advancing: A 20-hole (6,500 ft) drill program has
been designed to twin historic holes and test step- out targets, including the highly
prospective Todilto Formation. Permit submissions to the U.S. Forest Service (“USFS”)
are underway, with drilling anticipated to begin in Q2 2026.
Gabriel Alonso-Mendoza, President and CEO of Gamma commented, “This marks the beginning
of a significant new phase for Gamma. With active work programs now underway at both Green
River and Mesa Arc, our team is executing on a clear roadmap toward defining resources, building
technical confidence, and expanding our U.S. uranium footprint. These initiatives demonstrate
our commitment to unlocking the full potential of our projects and contributing to secure, domestic
uranium supply in North America.”
Green River Uranium Project – Utah
Located in Emery County’s San Rafael Mining District, the Green River Project includes 41
royalty-free lode claims targeting uranium mineralization in the Salt Wash Member of the Morrison
Formation. Adjacent to Western Uranium & Vanadium’s San Rafael Project and 11 km from the
Maverick Minerals processing plant. The area hosts several historical deposits totaling 5.3 million
lbs U₃O₈ (Gatten, 2014) and past production of 1 million lbs U₃O₈ (Willbanks, 1982). The project
benefits from existing infrastructure, historical data, and a geological setting prospective for in-
situ recovery (ISR) development.
Gamma has mobilized a technical field team to conduct a detailed airborne survey designed to
identify historic boreholes and locate open collars for downhole gamma logging. The data will
support the development of an initial resource estimate and guide future staking opportunities in
the surrounding area.
Work is currently underway, with completion of the airborne survey and data interpretation
expected by the second week of December 2025. The results will help define targets for follow -
up exploration and additional land acquisition during the first half of 2026.
Figure 1: Two Aerial Survey Blocks are planned, covering all 41 claims at the
Green River Property
Mesa Arc Uranium Project – New Mexico
The Mesa Arc Project comprises 41 lode mining claims in northern New Mexico, recently
expanded by 185 new federal claims to cover approximately 4,520 acres. The district hosts
documented historical uranium production and mineralization (McLemore & Chenowet h, 2017),
with previous drilling by Magnum Uranium Corp. (2006) outlining a non- NI 43 -101 historical
estimate of 2.5–3.0 million lbs U₃O₈*.
Gamma has finalized a preliminary work budget and drill plan and is preparing a NI 43 -101
Technical Report for the Mesa Arc Project. The Company is submitting permit applications to the
USFS for a 20 -hole, 6,500-ft drill program designed to twin historical holes and test step- out
targets along open extensions of known mineralization. The program will also target the deeper
Todilto Formation, a prolific uranium -bearing horizon responsible for over 17 million pounds of
historical U₃O₈ production since the late 1970s, yet never previously drilled on Gamma’s ground.
Permitting and technical preparations are expected to be complete by mid-December 2025, with
drilling planned for Q2 2026.
Corporate Update
The Company is also pleased to announce that it has engaged Departures Capital Inc.
(“Departures”) a Vancouver based strategic consulting and investor communications firm led by
Aaron Missere, to provide investor communications and marketing advisory services. The
engagement agreement is for an initial term of twelve months, for a fee of C$30,000. Departures
Capital Ltd. and/or Mr. Missere will not receive share purchase options or other non- cash
compensation and neither currently own shares in the Company. The agreement is subject to
the approval of the TSX Venture Exchange.
Qualified Person
Anders Hogrelius (SME-RM, MAIG), a qualified person for the purposes of National Instrument
43-101 -- Standards of Disclosure for Mineral Projects and a director of the C ompany, has
reviewed and approved the scientific and technical disclosure in the news release.
The historical mineral resource estimates quoted for the Mesa Arc Project are sourced from
internal resource calculations performed by Magnum Uranium Corp. on 6/30/2006.
Gradethickness maps were published and a 'Thiessen Polygon Method' was used to calculate
the resource estimates. There was no supporting technical report published with the resource
calculation.
Data from summary logs of each drill hole giving the depth, thickness and grade of the intercept,
was incorporated into a spreadsheet. All uranium grades were given in Ueq (equivalent uranium
as determined by down -hole probe). A disequilibrium ratio of Ueq x 1.29 - 0.001 was used to
estimate the true grade. The true grade x thickness value was then assigned to each polygon.
These intercepts were added and a volume was calculated for each hole based on the area x
thickness. A tonnage factor of 16 was used in the calculation based on the average density of
sandstone. A tonnage was assigned to each polygon (cubic feet of a polygon/16 tons), then the
pounds of U3O8 for each polygon was determined. Cut off grade in the calculations was .02 Ueq.
The historical mineral resource estimates for the nearby deposits held by third parties near the
Green River Project use indicated and inferred mineral resource categories and are believed to
have the same meaning per those resource categories set out in s ections 1.2 and 1.3 of the NI
43-101 Standards of Disclosure for Mineral Projects.
Select historic drill holes shall be twinned to verify grade. Any historic holes remaining open could
be probed to verify grade.
The above information was derived from historical information that has not been verified or
confirmed by a Qualified Person (as defined below). Such information will be used to assist the
Company in plans for ongoing work on the properties, but the reader is cautioned that results may
not be repeated. No Qualified Person has done sufficient work to classify the historical estimates
as current mineral resources or mineral reserves and the Company is not treating the historical
estimates as current mineral resources or mineral reserves. Management cautions that past
results on adjacent properties are not necessarily indicative of the results that may be achieved
on the Projects.
About Uranium
In March 2025, President Trump issued Executive Order 14156 formally designating uranium as
a U.S. critical mineral.1 This legal shift empowers federal agencies under the Defense Production
Act to fast-track permitting, direct federal procurement, and prioritize uranium mining, conversion,
enrichment, and fuel fabrication infrastructure across the country. A follow-on executive package
on May 23 accelerated regulatory reform across the nuclear fuel cycle— including licensing of
advanced reactors (Gen III/IV), small modular reactors (SMRs), microreactors, and establishing
a goal of 400 GW of nuclear capacity by 2050 —creating a supportive policy ecosystem for
domestic uranium producers and enabling secure HALEU supply chains for next -generation
reactors.2
Meanwhile, the uranium market is facing a historic supply –demand imbalance. Years of under
investment and tightened geopolitical trade have compressed inventories and elevated prices.
1 White House: Immediate Measures to Increase American Mineral Production (Executive Order ED 14156,
March 2025) https://www.whitehouse.gov/presidential -actions/2025/03/immediate-measures-to-increase
american-mineral-production/
2 K&L Gates: President Trump Issues Sweeping Executive Orders Targeting Nuclear Regulation (May 23,
2025) https://www.klgates.com/President-Trump-Issues-Sweeping-Executive-Orders-Targeting-Nuclear
Regulation-6-5-2025
Spot uranium prices recovered from lows near US $63/lb in early 2025 to over US $80.00/lb as
of October 20253, while long-term contracts and forward ceilings continue rising as utilities secure
supply.4 At the same time, nuclear energy is increasingly viewed as a reliable, carbon -free
backbone for both energy security and climate goals, with Western governments doubling down
on nuclear deployment and investing in domestic fuel chains, SMRs, and advanced reactor
technologies.5 These tailwinds explain why the Company feels strategically positioned in uranium,
eager to help to supply a market poised for structural growth and supported by strong public policy
frameworks.
About Gamma Resources Ltd.
Gamma Resources Ltd. is a U.S. -focused uranium exploration and development company
advancing high-quality assets in the Mountain West region. The Company’s portfolio includes the
Green River Project in Utah, comprising 1,100 acres near prominent regional producers, and the
Mesa Arc Project in New Mexico, a strategic land position now totaling 4,520 acres that includes
historic uranium resources in the Chama Basin. Management believes the Company is uniquely
positioned to benefit from the unprecedented polic y and market tailwinds reshaping the U.S.
nuclear landscape, and help meet this demand with responsibly sourced, U.S. -based uranium
supply.
Gamma trades on the Toronto Venture Exchange (TSX-V: GAMA), OTC (OTCPK: MLLOF) and
Frankfurt (FRA: MRDN).
For Further Information
Mr. Gabriel Alonso-Mendoza, President and CEO
Email: [email protected]
Tel: (833) 854-6826
www.gammaresourcesltd.com
Forward-looking Statements
Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in
the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of
this release. Statements made in this news release, other than purely historical information,
including statements relating to the Company’s future plans and objectives or expected results,
3 UxC U3O8 Daily Spot Price based on 10/7/2025
4 Sprott: Uranium’s Mid-Year Momentum (June 2025 pricing and equity
data) https://sprott.com/insights/uranium-s-mid-year-momentum/
5 Reuters: Trump’s nuclear energy orders would boost uranium prices, investments (May 27,
2025) https://www.reuters.com/business/energy/trumps-nuclear-energy-orders-would-boost-uranium-
prices investments-experts-say-2025-05-27/
may include forward- looking statements. forward- looking statements are based on numerous
assumptions and are subject to all of the risks and uncertainties inherent in resource exploration
and development. As a result, actual results may vary materially from those described in the
forward-looking statements.0