Uraniumx Expands Murphy Lake Drill Program to 4,000 Metres
URANIUMX EXPANDS MURPHY LAKE DRILL PROGRAM TO 4,000 METRES
Anomalous Radioactivity in 100% of Target Areas Tested
VANCOUVER, BC / June 23, 2026 / UraniumX Discovery Corp. (CSE: STMN) (OTCQB: STMXF) (FSE:
Q7S) (“UraniumX” or the “Company”) is pleased to announce positive drilling results and the expansion of
the 2026 diamond drill program at the Murphy Lake Uranium Property (the “ Property”) in the Athabasca
Basin, Saskatchewan. The program is operated by F4 Uranium Corp. (TSXV: FFU) (“F4”) under the existing
option agreement pursuant to which UraniumX is earning up to a 70% interest in the Property.
Due to continued encouraging results, including anomalous radioactivity in 100% of target areas drill tested
during this program, coupled with strong drilling efficiency, the program scope has been increased from the
originally planned 2,500 metres to 4,000 metres.
Highlights
• Seven drill holes have now been completed across multiple target areas. Anomalous radioactivity
has been intersected in all target areas tested to date, with five of the seven holes returning
elevated radioactivity and every hole displaying strong hydrothermal alteration at the unconformity.
• Drill hole ML26-019A (Target Area 4) returned handheld spectrometer readings greater than 300
cps over 1.0 metre in two intervals (323.0 to 323.5 metres and 324.0 to 324.5 metres), with a peak
of 510 cps in basement rocks just below the unconformity. Corresponding downhole gamma
readings exceeded 500 cps over 3.8 metres (319.7 to 323.5 metres), peaking at 2,564 cps.
• Drill hole ML26-021 (Target Area 5) returned handheld spectrometer readings greater than 300 cps
over a total of 1.0 metre (287.5 to 288.0 metres and 292.0 to 292.5 metres), with a peak of 350
cps, associated with strong limonite, bleaching, and clay alteration in the sandstone above the
unconformity. Corresponding downhole gamma readings exceeded 500 cps over 7.5 metres (286.2
to 293.7 metres), peaking at 1,694 cps.
• The three most recent drill holes (ML26-019A, ML26-020, and ML26-021) were completed in Target
Areas 4 and 5 on the Murphy Lake South Trend, all along strike from F4’s 2022 historical drill hole
ML22-006, which intersected 0.065% U ₃O₈ over 2.5 metres, including 0.242% U ₃O₈ over 0.5
metres (see Murphy Lake NI 43-101 Technical Report on SEDAR+).
• Drilling is now advancing to Target Area 6 to test a strong parallel conductor identified by the
Company-funded MLEM survey.
Drill Program Results
The three most recent drill holes were completed in Target Areas 4 and 5 on the Murphy Lake South Trend,
located at the southern end of the Property and along strike from F4’s 2022 historical intercept in ML22 -
006.
Drill hole ML26-019A was drilled at Target Area 4. Handheld spectrometer readings exceeded 300 cps over
1.0 metre in two intervals: 323.0 to 323.5 metres (peak 510 cps) and 324.0 to 324.5 metres (peak 450 cps),
in basement rocks just below the unconformity. Corresponding downhole gamma probe readings exceeded
500 cps over 3.8 metres (319.7 to 323.5 metres), peaking at 2,564 cps.
Drill hole ML26 -020 was drilled as a deeper test at Target Area 4. The hole did not return handheld
spectrometer readings exceeding 300 cps but intersected strong hydrothermal alteration at the
unconformity.
Drill hole ML26-021 was drilled at Target Area 5. Handheld spectrometer readings exceeded 300 cps over
a total of 1.0 metre in two intervals: 287.5 to 288.0 metres (peak 300 cps) and 292.0 to 292.5 metres (peak
350 cps). The anomalous radioactivity was ass ociated with strong limonite, bleaching, and clay alteration
in the Athabasca Sandstone above the unconformity (see Image 1). Corresponding downhole gamma
probe readings exceeded 500 cps over 7.5 metres (286.2 to 293.7 metres), peaking at 1,694 cps.
Table 1. Drill Hole Summary and Handheld Spectrometer Results.
Collar Information
* Hand-held Spectrometer Results On
Mineralized Drill core (>300 cps / >0.5m
minimum) Athabasca
Unconformity
Depth (m)
Total
Drillhole
Depth (m)
Hole ID Section
Line Easting Northing Elev Azi Dip From
(m)
To
(m)
Interval
(m)
Max
CPS
ML26-019A 585N 547477 6492601 430 111 -62 323.00 323.50 0.50 510 323.1 431
324.00 324.50 0.50 450
ML26-020 585N 547477 6492601 430 111 -78 Exploration; no radioactivity >300cps 294.5 479
ML26-021 195S 547329 6491829 429 112 -70 287.50 288.00 0.50 300 288.6 356
292.00 292.50 0.50 350
Handheld spectrometer composite parameters:
1: Minimum Thickness of 0.5 m
2: CPS Cut-Off of 300 counts per second
3: Maximum Internal Dilution of 2.0 m
Figure 1. Murphy Lake 2026 Drill Program
Figure 2. Line 585N Cross Section
Figure 3. Line 195S Cross Section
Image 1. Anomalous Radioactivity and Strong Alteration in Drill Hole ML26-021
Two Trends, Six Target Areas, Zero Barren Target Areas
With seven drill holes completed in the 2026 program, anomalous radioactivity and/or strong hydrothermal
alteration have now been demonstrated across two distinct trends on the Property:
The Murphy Lake North Trend, comprising Target Areas 1 and 2, where drill holes ML26 -015 through
ML26-018 returned anomalous radioactivity across an approximately 300 -metre conductive corridor,
including visually identified pitchblende in ML26-015 (see news releases dated June 2 and June 9, 2026).
The Murphy Lake South Trend, comprising Target Areas 4 and 5, where drill holes ML26- 019A, ML26-
020, and ML26- 021 returned anomalous radioactivity and strong alteration along strike from F4’s 2022
intercept of 0.242% U₃O₈ over 0.5 metres.
No target area tested to date has been barren of indicator response. The Company -funded MLEM survey
has now been validated by drilling at every tested target across the Property.
Program Expansion
The program scope has been increased from 2,500 metres to 4,000 metres, with approximately 3,200
metres drilled to date. The expansion reflects both the continued encouraging results across multiple target
areas and strong drilling efficiency that has kept the program under budget.
Drilling is now advancing to Target Area 6, which tests a strong parallel conductor identified by the
Company-funded MLEM survey. Assay results from drill holes ML26-015 through ML26-021 are pending.
Esen Boldkhuu, Chief Executive Officer of UraniumX, commented: “Seven holes in, anomalous radioactivity
in every target area, and two distinct mineralized trends now established across the Property. ML26-019A
returned our strongest downhole gamma reading to date at 2,564 cps, and the South Trend extends the
mineralized footprint along strike from F4’s historical intercept of 0.242% U₃O₈.”
Track the drill program in real time via the interactive exploration map at www.uraniumx.ca/explore
Technical Disclosure
Spectrometer and downhole gamma probe readings referenced in this news release are preliminary, are
not directly correlated to uranium grades, and are not a substitute for laboratory assay. Assay results from
drill holes ML26-015 through ML26-021 are pending. All depth measurements reported are downhole and
true thicknesses are yet to be determined. Reference is made to F4’s news release dated June 23, 2026
for full technical detail on instrument specifications, composite parameters, and sample preparation
procedures.
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. Mr. Wheatley has reviewed the technical
information disclosed by F4 in F4’s news release dated June 23, 2026 and relies on the QP review provided
by Sam Hartmann, P.Geo., on behalf of F4 as operator of the program.
This news release contains references to neighbouring properties in which UraniumX has no interest,
including IsoEnergy’s Hurricane Uranium Deposit, Cameco’s La Rocque Lake Uranium Zone, and Orano’s
McClean Lake mill, provided for geological and infrastructure context only. The Company’s Qualified Person
has been unable to independently verify the information on those neighbouring properties. Mineralization
on neighbouring properties is not necessarily indicative of mineralization on the Murphy Lake Property.
About Murphy Lake
The 609 hectare Murphy Lake Property is located in the northeastern Athabasca Basin, approximately 30
km northwest of Orano’s McClean Lake deposits, 5 km south of IsoEnergy Ltd.’s (TSX: ISO) Hurricane
Deposit, 4 km from the Cosa Resources (TSXV: COSA) Cyclone structural trend, and 4 km east of Cameco
Corporation’s (TSX: CCO) La Rocque Lake Uranium Zone. F4’s 2022 maiden drill program at the Property
comprised 14 drill holes totalling 6,850 metres and confirmed a geological setting consistent with the
unconformity-hosted uranium deposit model that characterizes the major deposits in the eastern Athabasca
Basin.
For additional information on the Murphy Lake Property, please refer to the National Instrument 43- 101
Report titled “Technical Report For The Murphy Lake Property, NE Athabasca Basin, Saskatchewan,
Canada” effective March 20, 2024, available at www.sedarplus.ca.
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 proj ect 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, incl uded herein are forward looking statements. Forward looking
statements in this release include, but are not limited to, statements regarding the expanded drill program
and its scope; the planned advance to Target Area 6; the interpretation of geological, geophysical, and
radiometric data; the existence, characteristics, and extent of the Murphy Lake North Trend and Murphy
Lake South Trend; the targeting model defined by the MLEM survey; anticipated assay timing; 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, exploration risk; the possibility that drilling
results may not meet expectations; the possibility that laboratory assays may not confirm anomalous
radiometric readings; reliance on F4 as operator; fluctuations in market conditions and capital availability;
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.