North Shore Uranium Ltd. Appoints Andrew Stewart as Director and Provides Exploration Update
MAY 6, 2025 TSX-V:NSU
NORTH SHORE URANIUM LTD. APPOINTS ANDREW STEWART AS
DIRECTOR AND PROVIDES EXPLORATION UPDATE
North Shore Uranium Ltd. (TSX-V: NSU) (“North Shore” or the “Company”) is pleased to announce
the appointment of Andrew Stewart to the Company’s Board of Directors effective May 6, 2025 , and to
provide an update on activities at its Falcon property (“Falcon” or the “Property”) in the Athabasca Basin
region of Saskatchewan.
ANDREW STEWART APPOINTMENT AS DIRECTOR
Andrew Stewart is a corporate finance and securities lawyer and a Partner in the Capital Markets and
Securities Group at Cozen O’Connor, an AmLaw 100 international law firm. He has over 25 years of capital
markets experience that includes mergers and acquisitions, public and private equity and debt financings,
regulatory compliance, cross-border transactions and public offerings in Canada and the United States. Mr.
Stewart also has served as SEC counsel to several US investment banks. He has been a co -founder and
counsel for several private and public companies and is one of the founders of North Shore.
FALCON EXPLORATION UPDATE
In its September 17, 2024, October 10, 2024, November 13, 2024 and February 27, 2025 news releases, the
Company summarized work being done at the West Bear and Falcon properties with emphasis on Falcon.
Three priority areas have been established at Falcon, Zones 1, 2 and 3 (Figure 1).
To date, North Shore has identified 36 uranium targets at Falcon. The targets are associated with
electromagnetic (“EM”) conductor anomalies and have been selected based on the analysis and
interpretation of multiple geophysical and geologic datasets by North Shore and its consultants. As reported
on May 16, 2024, the Company discovered near-surface uranium mineralization at drill sites P03 and P08
in an area that had never seen drilling ( Figure 1). These new uranium occurrences could be part of a new
trend of uranium mineralization in an area that is underexplored. North Shore’s near-term focus is to assess
the potential for an economic uranium deposi t within this trend by evaluating priority EM targets in the
South Priority Area at the eastern end of Zone 1 and the South Walker Area at the southern end of Zone 2
(Figure 1 ). The Company will continue prioritizing and analyzing targets in preparation for future
prospecting and drill programs; updates on target prioritization and exploration efforts will be provided on
an ongoing basis.
Brooke Clements, President and CEO of North Shore stated: “The North Shore Team is happy to
welcome Andrew Stewart to its Board of Directors. His expertise and enthusiasm will be a great benefit to
the Company. New uranium deposits will be required to fuel the reactors that will be needed for the growing
nuclear power industry . We believe that Saskatchewan’s Athabasca Basin is the best jurisdiction in the
world for uranium exploration and development and that there is good potential to discover a new, high-
grade uranium deposit. North Shore’s pipeline of uranium targets at Falcon and West Bear give it exposure
to making a significant new discovery.”
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Geologic information from the Saskatchewan database, EM conductors from Saskatchewan database and North Shore
interpretation, targets from North Shore interpretation.
Figure 1: Map showing Falcon exploration targets and priority zones.
FALCON BACKGROUND INFORMATION
Falcon consists of 15 mineral claims totaling 55,503 hectares; four of the claims comprising 12,791 hectares
are 100 percent-owned by the Company and the remaining 11 claims are subject to an option agreement
with Skyharbour Resources Ltd. Under the terms of the option agreement, North Shore has the option to
earn an 80% interest in the 11 claims by completing certain payments, exploration work and other
commitments by October 2026. Falcon is located 30 km east of the active Key Lake uranium mill and
former mine. Between 1983 and 2002, the mine produced a total of 209.9 million pounds of U 3O8 at an
average grade of over 2.0%1.
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 areas like Saskatchewan. North Shore is working to become a major force in exploration
for economic uranium deposits. The Company is working to achieve this goal by exploring its Falcon and
West Bear properties at the eastern margin of the Athabasca Basin and by evaluating opportunities to
complement its portfolio of uranium properties.
1 Source: Government of Saskatchewan – Mineral Deposit Query ( https://mineraldeposits.saskatchewan.ca/Home/Viewdetails/1130).
There is no guarantee that a uranium deposit similar to Key Lake will be discovered on the Falcon Property.
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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.