North Shore Expands Land Position at RIO Puerco
SEPTEMBER 11, 2025 TSXV:NSU
NORTH SHORE EXPANDS LAND POSITION AT RIO PUERCO
North Shore Uranium Ltd. (TSX-V: NSU) (“North Shore” or the “Company”) is pleased to announce
that it has stak ed 27 additional mining claims (the “New Claims”) at its Rio Puerco uranium project in
northwestern New Mexico (“Rio Puerco” or the “Project”). The Project now includes 64 adjoining Bureau
of Land Management (“BLM”) claims.
In 2009, a historical uranium resource estimate of 6.0 million tonnes at an average grade of 0.09% eU 3O8
for 11.4 million pounds of U3O8 was reported for Rio Puerco (the “Historical Resource”). Initial review
of the historical data suggests the potential for in-situ recovery (“ISR”) mining, the lowest cost method for
producing uranium. The entire H istorical Resource is located on the original 37 Rio Puerco claims (the
“Original Claims”). Previously completed exploration work suggests that there is potential to expand the
reported uranium mineralization on both the Original Claims and the New Claims.
Brooke Clements, President and CEO of North Shore stated: “North Shore’s Rio Puerco project in the
Grants Uranium District of New Mexico , USA , hosts a significant historical uranium resource with
excellent upside. The staking of 27 new claims complements the Company’s s trategy of confirming and
expanding upon the scale of uranium mineralization found by previous work done at Rio Puerco while
further assessing the potential for ISR uranium recovery.”
RIO PUERCO WORK HISTORY AND HISTORICAL RESOURCE ESTIMATES
Uranium was first discovered at Rio Puerco in 1968. The claims covering the discovery were ultimately
optioned to Kerr-McGee Corporation who drilled over 1,000 holes. Based on the results of that work, they
began the development of the Rio Puerco Mine in the 1970s. The uranium mineralization is hosted in
sandstone of the Jurassic-aged Morrison Formation, host to almost all of the significan t uranium deposits
in the Grants Uranium District, the largest historical uranium producing area in the United States. The mine
was intended to be a room and pillar underground mine but was never put into production. Activity ceased
after a short trial mining phase due to low uranium prices at the time. The underground mine infrastructure
included a 260m vertical shaft, ventilation shafts, mining adits and support buildings. The mining shaft
remains and road access to the site is excellent.
In 2009, Monaro Mining NL ( “Monaro”) commissioned an independent geological review and resource
estimate for Rio Puerco using exploration data generated by Kerr-McGee in the 1960s and 1970s. The data
used for the resource estimate consisted of historical maps and data from 764 drill holes including downhole
gamma-ray data converted to percent equivalent U 3O8 (eU3O8), geological logs and drillhole survey data.
Monaro reported a JORC 2004- compliant inferred resource of 6.0 million tonnes at an average grade of
0.09% eU3O8 using a cutoff grade of 0.03% eU 3O8 for 11.4 million pounds of contained U3O81. JORC is
1 Monaro Mining NL, 2009, 250% increase in uranium resource inventory at Rio Puerco deposit, New Mexico USA:
Monaro Mining NL ASX news release: (link)
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the Australian Joint Ore Reserves Committee, a professional code of practice that sets minimum standards
for public reporting of Mineral Resources.
In 2011, Australian-American Mining Corporation Ltd. commissioned a technical report on Rio Puerco.
This most recent report validated and confirmed the Historical Resource2.
The Historical Resource outlined in this news release has not been verified and should not be relied upon.
It is a historical estimate and not current and does not comply with Canadian NI 43-101 guidelines for the
reporting of Mineral Resources. A qualified person has not verified the H istorical Resource estimate on
behalf of the Company and North Shore has completed no work programs at Rio Puerco. Though not
current, the Company views the H istorical Resource estimates as reliable and sufficient to justify the
initiation of work programs aimed at validating and potentially expanding upon the estimates. There is no
guarantee that the work programs envisioned by North Shore will ultimately result in the definition of NI
43-101 compliant resources.
The 27 new BLM claims are subject to the Rio Puerco Option Agreement under which North Shore has the
right to acquire up to an 87.5% interest in Rio Puerco from Resurrection Mining LLC (“ Resurrection”).
Further information on Rio Puerco can be found in the Company’s news releases dated June 24, 2025, and
August 28, 2025.
The key assumptions, parameters, and methods used to prepare the H istorical Resource estimate are
described in the referenced technical reports.
EQUITY COMPENSATION
On September 10, 2025, the Board of Directors of the Company approved a grant of a total of 1,625,000
restricted share units (“RSUs”) to directors, officers and consultants of the Company under the Company’s
shareholder approved Equity Incentive Plan. The RSUs will vest on the first anniversary of the grant date
and will be settled in accordance with the Equity Incentive Plan.
In addition, a total of 2,075,000 stock options were granted pursuant to the Company’s shareholder
approved Stock Option Plan to directors, officers and consultants of the Company, and grant the holder the
right to purchase one common share at a purchase price of $0 .175 per common share for a period of five
(5) years from the date of grant. The stock options will vest immediately upon grant.
The securities issued pursuant to the equity grants described herein are subject to a statutory hold period of
four months and one day from the date of issuance in accordance with applicable Canadian securities laws
and the policies of the TSX Venture Exchange. The equity grants described herein remain subject to the
approval of the TSX Venture Exchange.
ABOUT NORTH SHORE
The nuclear power industry is in growth mode as more nuclear power will be required to meet the world’s
ambitious CO2 emission-reduction goals and the needs of new power-intensive technologies like AI. In this
environment, new discoveries of economic uranium deposits will be very valuable, especially in established
uranium-producing jurisdictions like Saskatchewan and New Mexico . North Shore is well-positioned to
2 Boyer, D. and Ostensoe, E., 2011, NI 43-101 technical report, Rio Puerco deposit, Sandoval county, New Mexico,
USA: Independent report commissioned by Australian-American Mining Corporation Ltd.: (link)
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become a major force in exploration for economic uranium deposits. The Company is working to achieve
this goal by exploring Rio Puerco in the Grants Uranium District of New Mexico and its Falcon and West
Bear properties at the eastern margin of the Athabasca Basin in Saskatchewan. In addition, the Company
continues to evaluate quality opportunities in the United States and Canada to complement its portfolio of
uranium properties.
QUALIFIED PERSON
Mr. Brooke Clements, MSc, P.Geol ., a Qualified Person as defined by National Instrument 43- 101 –
Standards of Disclosure for Mineral Projects and the President and CEO of North Shore, has reviewed and
approved the scientific and technical disclosure in this press release.
ON BEHALF OF THE BOARD
Brooke Clements,
President, Chief Executive Officer and Director
For further information:
Please contact: Brooke Clements, President, Chief Executive Officer and Director
Telephone: 604.536.2711
Email: [email protected]
www.northshoreuranium.com
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.
Forward-Looking Statements
This news release contains forward-looking statements. All statements, other than statements of historical
fact, that address activities, events, or developments that the Company believes, expects, or anticipates will
or may occur in the future are forward-looking statements. These statements reflect management’s current
expectations based on information currently available and are subject to a number of risks and uncertainties
that may cause actual results to differ materially from those discussed in the f orward-looking statements.
Forward-looking statements in this release include, but are not limited to: the Company’s plans to confirm
and expand upon the scale of uranium mineralization at the Rio Puerco project; the potential for in- situ
recovery (ISR) mining at Rio Puerco; the initiation and results of work programs aimed at validating and
potentially expanding upon historical resource estimates; the Company’s ability to acquire up to an 87.5%
interest in the Rio Puerco project and to create a joint venture with Resurrection Mining LLC; the grant,
vesting, and settlement of restricted share units and stock options under the Company’s equity incentive
plans; the Company’s ability to attract and retain directors, officers, and consultants through equity
compensation; the Company’s strategy to become a major force in uranium exploration and to evaluate
additional opportunities in the United States and Canada; the actual results of current and planned
exploration activities, including the potential for the definition of a mineral deposit of potential economic
value at the Company’s Falcon property in Saskatchewan and Rio Puerco in New Mexico; the ability of the
Company to meet milestones and make bonus payments to Resurrection; the interpretation and meaning of
completed and future geophysical surveys, drilling results, and economic evaluations; the availability of
sufficient funding on terms acceptable to the Company to complete planned work programs; the timing and
receipt of required regulatory and governmenta l approvals; and other statements that are not historical
facts. Forward-looking statements are frequently characterized by words such as “plan”, “project”,
“appear”, “interpret”, “coincident”, “potential”, “confirm”, “suggest”, “evaluate”, “encourage”,
“likely”, “anomaly”, “continuous” and variations of these words as well as other similar words or
statements that certain events or conditions “could”, “may”, “should”, “would” or “will” occur. These
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statements are subject to various risks and uncertainties that may cause actual results to differ materially
from those anticipated or implied, including, but not limited to: the speculative nature of mineral exploration
and development projects; the ability to obtain necessary permits and approvals; changes in project plans
and parameters; variations in mineral grades and recovery rates; accidents, labour disputes and other risks
of the mining industry; the availability of funding on terms acceptable to the Company; delays in obtaining
governmental approvals or financing; fluctuations in metal prices; and other factors described in the
Company’s public disclosure documents. There may be other factors that cause actual results, performance,
or achievements to differ materially from those anticipated or implied by the forward -looking statements.
Any forward-looking statement speaks only as of the date on which it is made and, except as may be required
by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking
statement, whether as a result of new information, future events, or results or otherwise. Forward-looking
statements are not guarantees of future performance and accordingly undue reliance should not be put on
such statements due to the inherent uncertainty therein. Any forward- looking statements contained in this
news release are expressly qualified in their entirety by this cautionary statement.