Uraniumx Discovery Corp. Announces LOI to Enter into Option Agreement with Pond Technologies Holdings Inc. Regarding the Zoo BAY Uranium Project
URANIUMX DISCOVERY CORP. ANNOUNCES LOI TO ENTER INTO OPTION AGREEMENT
WITH POND TECHNOLOGIES HOLDINGS INC. REGARDING THE ZOO BAY URANIUM
PROJECT
VANCOUVER, BRITISH COLUMBIA – April 27, 2026 – UraniumX Discovery Corp. (CSE: STMN)
("UraniumX" or the " Company") a uranium-focused discovery company with projects in the
Athabasca Basin is pleased to announce that it has entered into a letter of intent (the " LOI") dated
April 27, 2026 with Pond Technologies Holdings Inc. ("Pond") pursuant to which the parties intend to
enter into an option agreement regarding the Company's Zoo Bay Uranium Project. The LOI will form
the basis under which Pond will engage in a “change of business” and “RTO” in connection with the
TSX Venture Exchange (the “TSXV”) policies.
Pursuant to the LOI, UraniumX (through its wholly-owned subsidiary 1477571 B.C. Ltd.) has agreed
to grant Pond the exclusive right and option to acquire a 100% interest in the Zoo Bay Uranium Project,
located in Saskatchewan's Athabasca Basin, subject to the negotiation and execution of a definitive
option agreement. Under the terms of the LOI, Pond may earn its interest by issuing an aggregate of
16,000,000 common shares of Pond, making aggregate cash payments of $350,000 over a three-year
period, and incurring an aggregate of $4,500,000 in exploration expenditures on the project. The
parties intend that the definitive agreement will set out the final terms and conditions upon which Pond
may earn its interest in the project.
"We are pleased to announce this LOI with Pond regarding the Zoo Bay Uranium Project," said Kirby
Renton, COO of UraniumX Discovery Corp. "This proposed transaction is a component of our project
generation model, designed to advance and unlock value across our Athabasca Basin portfolio. We
look forward to working toward a definitive agreement with Pond."
The Zoo Bay Uranium Project consists of 15 claims totaling approximately 19,850 hectares and is
positioned near structural and magnetic features historically linked to uranium -thorium occurrences
and conductivity corridors near Newnham Lake and neighbourin g claims. UraniumX believes the
proposed option arrangement provides a path to advance the project while maintaining focus on its
broader exploration strategy in the Athabasca Basin.
The LOI contemplates the negotiation of a definitive option agreement incorporating the final
commercial terms agreed between the parties, including the share issuance, cash payment and
exploration expenditure obligations comprising Pond's proposed earn-in. UraniumX will provide further
updates regarding the proposed transaction as material developments occur and in accordance with
applicable securities laws. Completion of the transaction contemplated by the LOI remains subject to
the negotiation and execution of a definitive option agreement, approval of the TSXV, approval at a
meeting of Pond shareholders, and such other regulatory approvals as may be required, in addition to
the satisfaction of customary closing conditions. There can be no assurance that the parties will enter
into the definitive option agreement or that the transaction contemplated by the LOI will be completed
as currently proposed, or at all. The parties are arms -length and no finders fees are payable in
connection with the proposed transaction.
About UraniumX
UraniumX Discovery Corp. is a Canadian -based junior mineral exploration company, singularly
focused on advancing uranium discovery in Canada's Saskatchewan Athabasca Basin. Its core assets
sit on the eastern margin of the Athabasca Basin, a premier global district known for hosting 10 of the
world's top 15 highest-grade uranium deposits.
Murphy Lake Uranium Property is the Company's flagship, where UraniumX is earning up to 70%
through an option with F4 Uranium. Adjacent to the world- class Wollaston Domain, the property
benefits from conductors, strong alteration, and proven 2022 drilling that intercepted anomalous
radioactivity near the Basin's unconformity.
The Company holds the Zoo Bay Uranium Project (15 claims; 19,850 ha), positioned near structural
and magnetic features historically linked to uranium -thorium occurrences and conductivity corridors
near Newnham Lake and neighbouring claims
UraniumX further holds a 100% interest in the NeoCore Uranium Property (6 claims; 13,012 ha),
located 65 km southeast of McArthur River Mine, within a stable, high-grade mining district supported
by mills, power, all-season roads, and established exploration infrastructure.
Exploration programs incorporate geophysics, drilling, and a research collaboration with University of
Saskatchewan leveraging quartz-degradation analytics to sharpen target selection.
Qualified Person and Technical Information
The technical information in this news release has been reviewed and approved by Ken Wheatley,
P.Geo., an independent consultant of the Company and a Qualified Person as defined under National
Instrument 43-101 - Standards of Disclosure for Mineral Projects.
Information disclosed herein relating to adjacent properties is not necessarily indicative to the
potential for mineralization on the property that is the subject of the disclosure
On Behalf of UraniumX Discovery Corp.
Kirby Renton, President and COO
UraniumX Discovery Corp.
Kirby Renton
Email: [email protected]
Telephone: (604) 377-8994
Website: www.uraniumx.ca
Forward Looking Statements
This news release may contain “forward-looking information” and “forward-looking statements” within
the meaning of applicable Canadian securities laws. All statements in this release, other than
statements of historical fact, that address events, conditions, or developments the Company expects
or anticipates may occur are forward -looking statements. Forward-looking statements in this news
release include, but are not limited to, statements regarding the negotiation and execution of a
definitive option agreement with Pond, the completion of the transaction contemplated by the LOI, the
potential advancement of the Zoo Bay Uranium Project, the ability of Pond to earn a 100% interest in
the project pursuant to the contemplated share issuances, cash payments and exploration
expenditures, the receipt of TSXV approval, approval at a meeting of Pond shareholders and other
required regulatory approvals, the Company's exploration and development plans for the Murphy
Lake, Zoo Bay, and NeoCore uranium properties, and the Company's broader strategic, operational,
and financial objectives. Forward-looking statements are often identified by words such as “expects,”
“plans,” “anticipates,” “intends,” “believes,” “estimates,” “projects,” “potential,” or variations of such
words, and phrases such as “may,” “could,” “would,” “should,” or “will” occur. Although the Company
believes that the expectations expressed in such forward-looking statements are based on reasonable
assumptions, such statements are not guarantees of future performance, and actual results may differ
materially from those expressed or implied in the statements. Forward-looking information is subject
to a variety of known and unknown risks, uncertainties, and other factors that could cause actual
results to differ materially from those anticipated, including, but not limited to: the risk that the parties
may not execute a definitive option agreement on the terms currently contemplated or at all; the risk
that the transaction contemplated by the LOI may not be completed; the risk that T SXV approval,
approval at a meeting of Pond shareholders or other required regulatory approvals may not be
obtained; risks related to mineral exploration and development activities; uncertainties inherent in
geological interpretations and exploration results; commodity price volatility and adverse market
conditions; operational and technical risks; regulatory and permitting requirements; reliance on key
personnel; risks associated with future financings; and other risks described in the Company's public
disclosure documents available on SEDAR+ at www.sedarplus.ca.
Readers are cautioned not to place undue reliance on forward-looking statements. The Company does
not undertake any obligation to update or revise any forward- looking information contained herein,
except as required by applicable securities laws.
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.