F3 Uranium to spin out F4 Uranium for multiple exploration properties

F3 Uranium (TSXV: FUU; OTCQB: FUUFF) is spinning out a new exploration company, F4 Uranium, to control the Murphy Lake, Cree Bay, Hearty Bay, Clearwater West, Wales Lake, Todd, Smart Lake, Lazy Edward Bay, Grey Island, Seahorse Lake, Bird Lake, Beaver River, Bell Lake, and Flowerdew Lake properties.

F3 will transfer the properties to F4 in exchange for common shares of F4, all of which will be distributed to F3 shareholders on the basis of one F4 share for every 10 shares of F3 held. F4 will be a wholly owned subsidiary of F3.

Raymond Ashley, president of F3 and incoming CEO of F4, commented, "The F4 properties demand greater attention from the drill bit and from the market. The creation of F4 will allow F3 shareholders exposure to success at the properties, without diluting their interest in the PLN project, which is one of the world's most important uranium discoveries in recent years. The properties are highlighted by Murphy Lake and Cree Bay. Murphy Lake is located 5 km south of IsoEnergy's Hurricane deposit where previous drilling intercepted anomalous radioactivity. Cree Bay is located at the northern edge of the Athabasca Basin along the Black Lake shear zone and where there are drill ready targets."

The spin out will unlock value in F4’s extensive portfolio. F4 will hole one the largest, most prospective uranium portfolios in the Athabasca Basin (14 projects and 165,907 ha). F4 will be led by the same award-winning management responsible for three major uranium discoveries in the basin.

Importantly, the F4 spin out will allow F3 Uranium to focus on the PLN (Patterson Lake North) project, located about 25 km northwest of Fission Uranium’s Triple R deposit and Nexgen’s Arrow deposit in the southwest rim of the Athabasca Basin. PLN is 100%-owned by F3 Uranium. The PLN property has been subdivided into three distinct projects – PLN, Minto, and Broach.

The most advanced part of the PLN project is the JR zone, discovered in November 2022. It initially assayed 6.97% uranium oxide (U₃O₈) over 15 metres, including 5.5 metres of 18.6% U₃O₈, 1 metres at 59.2% U₃O₈ from 263 to 264.0 metres. A 21-hole follow-up drill program was completed in winter 2023. PLN23-060 intersected one continuous 14.5-metre interval averaging 9.4% U₃O₈ including an ultra-high-grade 5 metre interval averaging 26.7% U₃O₈, which further includes a 2.5 metre interval which assayed 45.6% U₃O₈. 

Learn more on www.F3Uranium.com.