UraniumX Announces Flow-Through Private Placement
On Thursday 06 04, 2026 at 4:30PM ET
UraniumX Announces Flow-Through Private Placement
VANCOUVER, BC / ACCESS Newswire / June 4, 2026 / UraniumX Discovery Corp. (CSE:STMN)(OTCQB:STMXF)
(FSE:Q7S) (the "Company" or "UraniumX") is pleased to announce a non-brokered private placement of up to 3,333,333 flow-
through shares at a price of $0.15 per FT Share for aggregate gross proceeds of up to $500,000 (each a "FT Share") (the
"Offering"). No warrants will be issued to subscribers in connection with the Offering. The Company may increase the size of the
Offering to accommodate additional demand.
The FT Shares will qualify as "flow-through shares" within the meaning of subsection 66(15) of the Income Tax Act (Canada).
The Company intends to use the gross proceeds from the sale of FT Shares to incur eligible "Canadian exploration expenses" that
qualify as "flow-through critical mineral mining expenditures" within the meaning of subsection 127(9) of the Income Tax Act
(Canada), which will be renounced to the subscribers in an amount not less than the subscription price of the FT Shares, with an
effective date no later than December 31, 2026 and to incur such expenses on or before December 31, 2027.
Proceeds will fund the Company's ongoing diamond drill program at the Murphy Lake Uranium Property. The program is
currently underway, with the first hole returning visually identifiable pitchblende above the unconformity (see news release dated
June 2, 2026), and drilling now advances to test four priority targets remaining across the corridor extended by 1.45 km under the
Company-funded MLEM survey (see news release dated May 5, 2026).
Esen Boldkhuu, Chief Executive Officer of UraniumX, commented: "Pitchblende in the very first hole confirmed Murphy Lake
as a live, fertile uranium system. This financing puts the drill on four more targets, 5 km from IsoEnergy's Hurricane deposit."
Closing of the Offering is subject to receipt of all necessary corporate and regulatory approvals, including the approval of the
Canadian Securities Exchange. All securities issued under the Offering will be subject to a statutory hold period of four months
and one day from the date of issuance.
The Company may pay finder's fees to eligible persons in connection with the Offering, in accordance with the policies of the
Canadian Securities Exchange.
Spectrometer readings referenced in the Company's news release dated June 2, 2026 are preliminary, are not directly correlated to
uranium grades, and are not a substitute for laboratory assay. Assay results are pending.
Qualified Person
The scientific and technical information in this news release has been reviewed and approved by Ken Wheatley, P.Geo., Director
of Exploration of the Company and a Qualified Person as defined under National Instrument 43-101, Standards of Disclosure for
Mineral Projects.
About UraniumX Discovery Corp.
UraniumX Discovery Corp. is a Canadian-based junior uranium exploration company focused on advancing uranium properties
in Saskatchewan's Athabasca Basin, one of Canada's most active uranium districts. The Company's flagship Murphy Lake
Uranium Property is located in the northeastern Athabasca Basin, where UraniumX is earning up to a 70% interest through an
option agreement with F4 Uranium Corp. UraniumX additionally holds 100% interests in the Zoo Bay and NeoCore uranium
properties, and is advancing a project generator approach across its broader portfolio by optioning non-core assets while retaining
royalties and equity, allowing the Company to concentrate exploration capital on Murphy Lake.
On Behalf of UraniumX Discovery Corp.
Esen Boldkhuu, CEO
Contact:
UraniumX Discovery Corp.
Esen Boldkhuu, CEO
Email: [email protected]
Telephone: (604) 377-8994
Website: www.uraniumx.ca
Forward Looking Statements
This news release contains "forward looking information" and "forward looking statements" within the meaning of applicable
Canadian securities laws (collectively, "forward looking statements"). All statements, other than statements of historical fact,
included herein are forward looking statements. Forward looking statements in this release include, but are not limited to,
statements regarding the Offering, the renunciation of exploration expenses, and the Company's future plans, objectives, and
exploration activities.
Forward looking statements are based on reasonable assumptions, estimates, and opinions of management as of the date hereof
and are subject to known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially
from those expressed or implied by such forward looking statements. These factors include, but are not limited to, the Company's
inability to complete the Offering on the terms described herein or at all, fluctuations in market conditions, volatility in equity
and capital markets, risks inherent in mineral exploration and development, environmental risks, reliance on key personnel,
regulatory approvals, and changes in laws and regulations.
Readers are cautioned not to place undue reliance on forward looking statements. Except as required by applicable securities
laws, the Company undertakes no obligation to update or revise any forward looking statements.
The CSE has neither approved nor disapproved the contents of this news release. Neither the CSE nor its regulation services
provider accepts responsibility for the adequacy or accuracy of this release.
SOURCE: UraniumX Discovery Corp.