North Shore Uranium Ltd. Completes Prospecting Program at Falcon; Significant Radioactivity Discovered IN Outcrops and Boulders
OCTOBER 14, 2025 TSX-V:NSU
NORTH SHORE URANIUM LTD. COMPLETES PROSPECTING
PROGRAM AT FALCON; SIGNIFICANT RADIOACTIVITY
DISCOVERED IN OUTCROPS AND BOULDERS
North Shore Uranium Ltd. (TSX-V: NSU) (“North Shore” or the “Company”) is pleased to announce
the completion of a prospecting program on its Falcon Property (“Falcon” or the “ Property”) located at
the eastern margin of the Athabasca Basin in Saskatchewan.
The prospecting program was completed by Axiom Exploration Group and focused on e ighteen priority
targets that were identified by North Shore’s technical team. At each of these targets, the crew assessed the
mapped surface expression of the interpreted electromagnetic (“EM”) conductor and surrounding area for
outcrop and anomalous radioactivity. A Radiation Solutions (model RS-125) scintillometer that measures
total radioactivity in counts per second (“ cps”) was used to measure the radioactivity of outcrops and
boulders and guide the selection of representative rock samples for laboratory analysis.
Significant radioactivity was confirmed in outcrop at targets FA020 , up to 20,000 cps (the historic EWA
Showing) and FA025, up to 27,000 cps (the historic D Zone Showing area) (Figure 1). In addition, several
boulders with elevated radioactivity were discovered , including at targets FA019, close to 7,000 cps and
FA033, up to 6,000 cps. Summaries of work done at several targets are presented below. Seventy-four rock
samples were collected during the program and they have been submitted to the Saskatchewan Research
Council (SRC) Geoanalytical Laboratory for uranium, associated metals and elements and Rare Earth
Element analysis. Assay results are pending.
Brooke Clements, President and CEO of North Shore stated: “We think that Falcon has all the right
ingredients to yield a signficant new uranium discovery. It is in the Athabasca Basin region, host to
Canada’s only two uranium mines and three development-stage projects. Uranium mineralization has been
confirmed on the property , and the past-producing Key Lake Uranium Mine and active Key Lake Mill is
nearby. We have identified a number of high priority, drill-ready targets along portions of a prominent EM
conductor system that have seen no historic drilling.”
PRIORITY TARGETS BY ZONE
Three priority areas have been established at Falcon, Zones 1, 2 and 3. Within these three areas, 36 uranium
targets have been identified (Figure 1). The targets are associated with EM conductor anomalies and have
been selected based on the analysis and interpretation of multiple geophysical and geologic datasets.
ZONE 1
Located within Zone 1, the South Priority Area includes the three kilometre (“km ”) long NNE -trending
conductor/structural zone where uranium was discovered by North Shore in 2024 in drill holes P03 and P08
(Figure 2). As reported on May 16, 2024, a t P03, a zone from 196.6 to 209.0 metres (“m”) included an
interpreted brittle fault zone with graphite-rich fault gouge and two samples that returned 345 and 378 ppm
U3O8. At P08, a 4.7 m interval between 42.3 and 47.0 m returned 316 ppm U3O8, including one sample with
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572 ppm U3O8. Also at P08, a brittle, altered pegmatitic and graphitic fault zone with elevated U3O8 values
up to 50 ppm was intersected from 102.3 to 105.5 m, the modelled depth of the EM conductor.
EM conductors from Saskatchewan database and North Shore interpretation, targets from North Shore interpretation
Figure 1: Property map showing Falcon’s 3 exploration priority zones, priority exploration targets and
the targets assessed during the prospecting program in August.
Target FA003 is at the south end of the potential mineralized trend defined by P03 and P08. At FA003, the
EM conductor system and an associated magnetic low are disrupted and the system splits, with one arm
going to the northeast, the other to the north. In addition, there is a gravity low anomaly which can be an
expression of alteration that could be associated with uranium mineralization (Figure 3). The prospecting
crew determined that most of the traces of the interpreted EM conductor s are covered by muskeg. At the
south end of the target zone, weakly radioactive pegmatitic and granitic boulders are present and are
associated with an airborne radiometric uranium anomaly.
At target FA005, the conductor is intersected by an interpreted fault . Southwest of this, in an interpreted
down-ice direction from the target, the prospecting team identif ied radioactive boulders within a boulder
field. Metasedimentary and granitic boulders had radioactivity readings from 500-3,000 cps (Figure 2). At
target FA033, where hole P03 was drilled by North Shore in 2024, a pegmatite boulder that was discovered
registered 5,000-6,000 cps.
Approximately two km south of FA003 target FA002 is defined by two strong parallel EM conductors and
a parallel magnetic low trend, and it is intersected by an interpreted northwest -trending fault. The
conductor/fault intersections are under a lake, but a hill just southeast of the target showed a strong uranium
anomaly defined by the 2022 airborne radiometric survey. The crew found several mica- rich stringers of
radioactive pegmatite in outcrop in this area.
FA005
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Figure 2. South Priority Area (Zone 1) targets, EM and structural interpretation by Condor North
Consulting LLC (“Condor”). Photo shows radioactive boulder field southwest (down-ice) of FA005.
Vertical gravity gradient (GDD) data processing by Condor, 2.5 g/cm3 density used in terrain correction, data presented in Eötvös (Eö).
Structural and EM interpretation by Condor; single- and double-peaked responses picked from airborne survey profiles.
Figure 3. Target FA003 with gravity background, Zone 1. Photo taken near the conductor split looking
NW from a weakly foliated to massive metapelite outcrop to the interpreted conductor surface projection
in a swampy low-lying area.
ZONE 2
Target FA020, in the central portion of Zone 2 includes the EWA showing. It is centered on a short, isolated,
strong northeast-trending, 1.5 km long EM conductor (Figures 1 and 4). Up to 0.492% U 3O8 and 1,300
ppm lead was encountered in outcrop grab samples within a 10-20 m wide northeast-trending sheared pelitic
unit with granitic inliers ([SMDI] 5038). In 2008, JNR Resources drilled s even holes from six sites
associated with the EWA showing at the eastern end of the EM conductor . Anomalous uranium, boron,
lead, and molybdenum were encountered in structurally disrupted pegmatites; the best result was 0.235%
U3O8 over 0.5 m (within a 3.5 m interval of 0.113% U3O8) in hole WYL-08-501 (Sask. Mineral Assessment
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File 74H02-0045).
The prospecting team located the showing, a radioactive 10 m by 10 m granitic gneiss outcrop characterized
by folding, shearing and micro-fracturing with local hematite and clay alteration with readings up to 20,000
cps. North Shore plans to further evaluate the 1.2 km -long conductor system associated with EWA to
determine if more drilling may be warranted at different sites along the conductor system or to expand on
previous drilling targets.
EM conductor trace and uranium showing from Saskatchewan database. Structural and EM interpretation by Condor; single- and
double-peaked responses picked from airborne survey profiles.
Figure 4. Target FA020/EWA Showing area, Zone 2. Photo is of highly radioactive outcrop.
Target FA019, which is located at the eastern edge of the Property, is a 700 m long, strong EM conductor
that is parallel to , and one km south of the main EM conductor trend at Falcon (Figures 1 and 5). The
conductor is terminated at its western end by an interpreted prominent north-south-trending fault zone. The
prospecting crew found one radioactive boulder that registered close to 7,000 cps on the scintillometer at
this location. The granitic gneiss boulder had a 10 cm wide quart z vein with a mica -rich contact that
displayed hematite alteration. The interpreted trace of the conductor roughly corresponds with an east-west-
trending boulder train within a stream drainage.
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EM conductor trace from Saskatchewan database. Structural and EM interpretationby Condor; single- and double-peaked responses picked from
airborne survey profiles.
Figure 5. Target FA019, photo shows interpreted conductor in foreground and outcrop in background.
ZONE 3
Target FA025 includes the D Zone showing and a complex and isolated approximately one k m long
anomalous EM response defined by variable conductor strength that is, in part, coincident with a magnetic
low feature ( Figure 6). The D Zone showing was discovered in 1978 by field inspection of an anomaly
identified from an EM survey flown by AGIP in 1978 that was interpreted to be a graphitic conductor. The
D Zone showing and associated work programs are described in [SMDI 2455] and Saskatchewan
Assessment files 74A14 -0034 and 74A14- 0035. The showing is described as a uraniferous vein with
associated molybdenite and pyrite; a breccia zone was also sampled. The best sample returned 1.26% U
and 0.8% Mo. AGIP reported four additional samples from the D Zone area with greater than 1000 ppm
(.1%) U. In 1978, a lake sediment sample collected from a small lake 800 m northwest of the D Showing
returned 38 ppm U (Figure 6). In 1980 three shallow holes with a cumulative depth of 350 m were drilled
by AGIP. One metre sample intervals in zones of anomalous radioactivity in core from two drill holes were
analyzed. One of the intervals returned 54 ppm U, the other 36 ppm. Minor hematite, chlorite and kaolinite
alteration was encountered throughout the core.
In 2022, a North Shore crew identified elevated radioactivity in one outcrop area coincident with the
mapped D Zone location, but the vein was not located. The 2025 prospecting crew traversed much of the
target area but was unable to locate the uriniferous vein, it is likely covered by vegetation. The crew did
locate two radioactive pegmatite dykes approximately 700 m apart (Figure 6). At the first site, located
approximately 500 m north of the target zone and just west of the powerline along the lakeshore, the crew
located a pegmatite dyke that was discovered by AGIP in 1978. The 10 m wide, 30 m long coarse-grained
dyke exhibited local hematite alteration and background radioactivity readings of 10,000 to 27,000 cps.
The eastern coarse- grained pegmatite dyke was approximately 5 m wide and 20 m long, background
radioactivity levels of the outcrop ranged from 3,500 to 5,000 cps. The Company intends to integrate the
EM conductor models at FA025 with shallow historic drilling and geologic mapping data and consider the
drilling of additional and deeper holes. Overall, the isolated EM conductor on land that is coincident with
a magnetic low response and proximal to a known uranium showing is a highly prospective target.
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EM and structural interpretation by Condor; single- and double-peaked responses picked from airborne survey profiles.
Figure 6. Summary of FA025 Area, photo is of the eastern pegmatite dyke which had background
readings of 3,500 to 4,000 cps.
NEXT STEPS
In an effort to make a significant new uranium discovery, North Shore is integrating information from the
prospecting program with the interpretation of the EM conductors to further evaluate and prioritize targets
shown in Figure 1 for potential future drilling programs.
FALCON BACKGROUND INFORMATION
In May 16, 2024, September 17, 2024, October 10, 2024, November 13, 2024, February 27, 2025 and May
6, 2025 news releases, the Company summarized its exploration efforts at Falcon. Historical technical
information at Falcon is provided in North Shore’s 2023 technical report link. The primary exploration
focus is to prioritize targets in areas that have not seen drilling. Prior to 2024, approximately 50 exploration
holes had been drilled at Falcon, with 28 of those completed in 2008. All the 2008 drilling was done along
prominent EM conductor systems in Zone 2. Until North Shore’s 2024 drill program, no drilling had been
completed along the southern portion of that conductor system.
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 percent 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.
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.
Anomalous lake
sediment sample,
38 ppm U. Radioactive
Pegmatite dykes
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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 Ne w Mexico. North Shore is well -positioned to
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. Technical information on the
Rio Puerco project is available in North Shore’s June 24, 2025, news release. In addition, the Company
continues to evaluate quality opportunities in the United States and Canada to complement its portfolio of
uranium properties.
QUALIFIED PERSONS STATEMENT
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 releas e. Troy Marfleet, P. Geo. of Axiom
Exploration Group, who is also a Qualified Person, and a co-author of North Shore’s 2023 Falcon technical
report, supervised the Axiom field crew and has verified the prospecting data disclosed in this press release.
Readers are cautioned that radioactivity levels in rocks reported in this press release measured in cps by the
hand-held RS-125 scintillometer are not uniformly or directly related to the actual uranium content of the
rock samples measured and should be treated only as a preliminary measure of the presence of radioactive
minerals. The 74 rock samples that were collected during the prospecting program will be analyzed for their
uranium content.
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 relating specifically to the Falcon Property
prospecting program and the Company’s broader exploration strategy. Forward-looking statements in this
release include: the pending laboratory results for th e 74 rock samples collected during the Falcon
prospecting program; the Company’s plans to further evaluate and prioritize targets for potential future
drilling programs based on the integration of prospecting results and EM conductor interpretation; the
intention to model EM conductors at the FA025 target and integrate these models with historic drilling and
geologic mapping, which may lead to additional or deeper drill holes; the expectation that Falcon has the
right ingredients to yield a significant new uranium discovery, including the identification of high priority,
drill-ready targets along a portion of a prominent EM conductor system that have seen no historic drilling;
North Shore’s belief that it is well-positioned to become a major force in exploration for economic uranium
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deposits; the Company’s ongoing work to achieve this goal by exploring Rio Puerco in New Mexico and
its Falcon and West Bear properties in Saskatchewan; and the Company’s continued evaluation of quality
opportunities in the United States and Canada to complement its portfolio of uranium properties. These
statements are subject to specific risks and uncertainties, including: the possibility that laboratory assay
results may not confirm the elevated radioactivity measured in the field; uncertainties in the interpretation
of geophysical data, including EM conductors and gravity anomalies, which may not accurately reflect
subsurface mineralization; the risk that identified targets may not yield economically viable mineral
deposits upon further exploration or drilling; the potential for delays or changes in exploration plans due
to environmental conditions, permitting requirements, or logistical challenges in accessing certain areas
of the Falcon Property; and the reliance on historical data and previous explorati on results, which may
have limitations or uncertainties that affect current interpretations. 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 statements are subject to vari ous 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 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.