North Shore Uranium Granted Falcon Exploration Permit
OCTOBER 1, 2024 TSX-V:NSU
NORTH SHORE URANIUM GRANTED FALCON
EXPLORATION PERMIT
North Shore Uranium Ltd. (TSX-V: NSU) (“North Shore” or the “Company”) is pleased to announce
that it has received a Crown Land Work Authorization permit from the Saskatchewan Ministry of
Environment (the “Permit”). The Permit covers the Company’s 55,700 hectare Falcon property (“Falcon”)
at the eastern margin of the Athabasca Basin in northern Saskatchewan.
Under the Permit, which expires on July 31, 2027, North Shore is authorized to conduct mineral exploration
activities including prospecting and ground geophysics, trail and drill site clearing, line cutting, the drilling
of up to 75 exploration drill holes and the storage of drill core. While performing the exploration activities,
the Company is required to comply with existing regulations and the environmental conditions specified in
the Permit including reclamation of exploration sites and monitoring wildlife in the area . North Shore is
also committed to engaging with local communities and addressing their concerns throughout the life of
the project.
As reported by the Company on September 17, 2024, North Shore is now prioritizing uranium exploration
targets for future drill programs at Falcon. The target model is near -surface basement -hosted uranium
mineralization which can be associated with electromagnetic conductor systems. To date, the Company has
identified 36 uranium targets at Falcon (Figure 1). The targets were selected based on the analysis of
multiple datasets and interpretation by Condor North Consulting ULC, Earthfield Technologies Inc.,
TerraLogic Exploration Inc. and North Shore. The Company’s current goal is to select the top ten sites to
choose from for the next drill program.
Mr. Brooke Clements, President and CEO of North Shore , stated: “After our maiden drill program at
Falcon this March, we are preparing for follow-up work related to our two new uranium discoveries and
to evaluating new targets. We believe that Falcon, located at the eastern margin of the prolilfic Athabasca
Basin, is a great setting for a major new uranium discovery. We have multiple targets that require testing
and we look forward to future exploration programs.”
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Figure 1: Map showing Falcon exploration targets, uranium occurrences and the location of three holes
drilled by North Shore in early 2024. At P03 and P08, North Shore discovered near -surface uranium
mineralization. At P03, two samples between 197 and 209m returned 345 and 378 ppm U 3O8. At P08, a
4.7m interval from 42.3-47.0m returned 316 ppm U3O8. Targets selected by Condor North Consulting ULC,
TerraLogic Exploration Inc. and North Shore.
ABOUT NORTH SHORE URANIUM and FALCON
The near-term business objectives of North Shore Uranium are to become a major force in exploration for
economic uranium deposits at the eastern margin of Saskatchewan’s Athabasca Basin, a tier-one jurisdiction
for discovering new mineable high -grade uranium deposits. The Company is working to achieve those
objectives by conducting exploration programs at its Falcon and West Bear properties and by evaluating
opportunities to increase its portfolio of uranium properties.
Falcon is located 30 kilometres east of the former Key Lake uranium Mine and the operating Key Lake
uranium mill. It consists of 15 mineral claims; four of the claims comprising 12,791 hectares are 100
percent-owned by the Company and the remaining 11 claims totaling 42,908 hectares are subject to an
option agreement with Skyharbour Resources Ltd. Under the terms of the option agreement, North Shore
has the option to earn up to a 100% interest in the 11 claims by completing certain payments, exploration
work and other commitments by October 2026.
P03
P08
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QUALIFIED PERSON
Mr. Brooke Clements, MSc, P.Geol., a Q ualified 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 that are based on the Company’s current
expectations and estimates. 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.
Such forward-looking statements involve known and unknown risks, uncertainties and other factors that
could cause actual events or results to differ materially from estimated or anticipated events or results
implied or expressed in such forward -looking statements. Such factors include, among others: the actual
results of current and planned exploration activities including the potential for the definition of a mineral
deposit of potential economic value within Falcon; that drilling results, geophysical survey results and/or
interpretations thereof are defining potentially mineralized corridors; results from future exploration
programs including drilling; interpretation and meaning of completed and future geophysical surveys;
conclusions of future economic evaluations; change s in project parameters as plans to continue to be
refined; possible variations in grades of mineralization and/or future actual recovery rates; accidents,
labour disputes and other risks of the mining industry; the availability of sufficient fun ding on terms
acceptable to the Company to complete the planned work programs; delays in obtaining governmental
approvals or financing; and fluctuations in metal prices. There may be other factors that cause actions,
events or results not to be as anticipated, estimated, or intended. 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.