Kiplin Metals Reviews F3 Uranium Conductors Contiguous to Its Cluff Lake ROAD (“Clr”) Uranium Project, Saskatchewan
NEWS RELEASE
KIPLIN METALS REVIEWS F3 URANIUM CONDUCTORS CONTIGUOUS
TO ITS CLUFF LAKE ROAD (“CLR”) URANIUM PROJECT,
SASKATCHEWAN
March 27th, 2023 – Kiplin Metals Inc. (TSX-V: KIP) (the “Company” or “Kiplin”) has completed a review of
the electromagnetic (“EM”) conductors on, and adjacent to, the Company’s Cluff Lake Road (CLR) Uranium
Project, located in northwestern Saskatchewan, which is surrounded by F3 (“F3”) Uranium Corp.’s
(formerly Fission 3.0) high profile Paterson Lake North (“PLN”) Project.
In November 2022 F3 discovered the “JR” high grade uranium zone, with recently reported intersections
(F3 Press Release, February 6, 2023) in drill hole PLN22-038 of 11.0 metres averaging 4.20% U3O8,
including a high-grade 4.5 metre interval averaging 9.8% U3O8. The “JR” uranium zone represents the
newest, basement hosted uranium deposit in the Athabasca, similar to the Triple R uranium deposit
owned by Fission Uranium Corp.
Airborne and ground electro-magnetic (“EM”) geophysical surveys are an effective exploration
tool for discovering basement hosted uranium mineralization, in association with graphitic
structures and clay alteration. The F3 discovery of the JR Zone in hole PLN22-035 resulted from
follow-up drilling on the “A1” conductor.
The Company’s CLR project is approximately 15 kilometres North-Northwest of the F3 JR Discovery
Zone but is adjacent to F3’s North Conductor Complex. These conductors as indicated on the F3
website, trend South-Southeast and extend onto the Company’s CLR property. Drilling one hole
(PLN22-29) on the North Conductor Complex by F3 (Press Release November 28, 2022) returned
the following:
“Drill hole PLN22-029, which was the first test of the N conductor complex in the northeast part of the
property, intersected highly elevated boron values over a 70 m interval within Athabasca sandstone
averaging 1,051 parts per million boron from 550 to 620 m, including a 10 m interval averaging 1780
ppm boron, above graphitic faults in the basement. This is considered highly anomalous due to both the
significant width of the intersection and the highly elevated concentrations. Boron is an important
pathfinder element as it occurs along the structural corridors which host the uranium deposits in the
Athabasca basin. Concentrations of boron in the sandstone of more than approximately 300 ppm are
normally considered anomalous…Anomalous pathfinder elements, including uranium, are associated
with some of the basement structures. The graphitic and sulphide-rich basement structures correspond
to electromagnetic responses. The hole was originally planned to 750 m but was extended at depth to
test as much geology as possible laterally toward the centre of the N conductor corridor.
The F3 North Conductor Complex comprises three parallel conductors over a width of one
kilometre. The Company interprets potential for all three North Conductor identified by F3 to
continue and extend onto the Company’s CLR property. In addition, the Company has defined both
parallel and cross-cutting magnetic lineaments on their CLR property.
Following the discovery of the JR Zone, the Company views the on-trend extensions of F3’s North
Conductor Complex onto the CLR property, the encouraging geology, alteration and mineralization
observed in the single drill hole in the area (PLN22-029), and the radon anomalies (Press Release, October
5, 2022) and magnetic lineaments indicated on the CLR property, as very prospective for discovery of a
basement hosted uranium deposit. The Company continues to review the best type of EM geophysical
surveys to conduct this summer, with ongoing discussions with contractors, prior to defining drill targets.
The Company is the beneficiary of a 100% interest in the Cluff Lake Road Uranium Project and controls all
exploration and development of the Project at this time.
The Company cautions the discoveries and observations on properties in proximity to the Company's
properties are not necessarily indicative of the presence of similar mineralization or geology on the
company's properties.
Dr. Peter Born, P.Geo., is the designated qualified person as defined by National Instrument 43-101 and
is responsible for, and has approved, the technical information contained in this release.
About Kiplin Metals Inc.
Kiplin Metals Inc. is a mineral exploration company. We create value for our shareholders by identifying
and developing highly prospective mineral exploration opportunities. Our strategy is to advance our
projects from discovery all the way to production. This vertically integrated strategy allows Kiplin Metals
to achieve exceptional shareholder value through the entire life-cycle of the mining process.
Cluff Lake Road Uranium Project. Kiplin Metals has the right to earn a one-hundred percent interest in
the Cluff Lake Road Uranium Project (the “CLR Project”). The CLR Project covers ~531ha in the
southwestern Athabasca Basin in northern Saskatchewan, where several new discoveries, including the
Arrow and Triple R Uranium deposits have been made. The CLR Project is 5 km east of the Cluff Lake Road
(Hwy 955), which leads to the historic Cluff Lake Mine, which historically produced approximately
62,000,000 lbs of yellowcake uranium.
For further information, contact the Company at [email protected], or visit the Company’s website
at www.kiplinmetals.com.
On behalf of the Board,
Kiplin Metals Inc.
For further information, contact the Company at 604-622-1199.
On behalf of the Board of Directors,
“Peter Born”
Director
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other
than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations
expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of
future performance and actual results or developments may differ materially from those in forward-looking statements. There
can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation
of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the
applicable laws.