American Marconi Wireless News - UraniumX Plans for Ground Gravity Survey at Zoo Bay Project, Athabasca Basin

Gravity surveys measure the density of the earth beneath it, and will delineate areas of lesser gravity sometimes brought on by alteration of the rocks. The upcoming Survey is designed to cover areas of structural interest on the Property and will identify areas of alteration along the structures that may be indicative of uranium mineralization.

Background - Previous Exploration Results

Limited exploration work has been completed on the Property, with 5 drill holes completed in the general area in 1979 (Getty Minerals, SGS report 74I16-0010). The most recent airborne surveys (radiometric, EM and magnetic) were flown in 2008 (Fission Energy, SGS report 64L13-0021) and 2011 (Fission Energy, SGS report 64L13-0024). The information from previous programs was used to determine the location of the upcoming Survey.

"We believe that the limited historical exploration work on the Property gives UraniumX a clear slate to work with, using the latest in exploration methods to narrow down drill targets as quickly and as efficiently as possible. Due to the size of the Property, the Survey will be completed in phases, with results driven by the first pass of gravity and drilling." said Ken Wheatley, geological consultant for UraniumX.

Survey Methods and Program Design

The ground gravity survey is a geophysical technique designed to detect subtle variations in the gravitational pull of the earth, typically in a grid pattern, that will identify areas of alteration revealed as a gravity low. This low is caused by the formation of clay minerals due to the hydrothermal alteration of the rocks by migrating fluids. Some of these fluids may be uranium bearing, and may deposit the uranium in areas of structural complexity, geochemically reducing, areas with increased pore space or, most likely, a combination of the three. Unconformity uranium deposits within the Athabasca Basin have been intensively studied and the current exploration techniques used by UraniumX have proved to be the most helpful in finding deposits (NexGen's Arrow deposit, for example).

Next Steps

The Survey is expected to be completed by mid-April, and upon receipt of the processed data, the results will be integrated with existing magnetic and radiometric surveys to develop targets for a drill program.

About the Zoo Bay Property

The 19,850-hectare Property is located in the northeastern Athabasca Basin, approximately 60 kilometres north of Orano's McClean Lake operation and Cameco's Rabbit Lake mine. Both Orano Canada and CanAlaska Uranium Ltd (TSXV: CVV) have properties adjoining the Property.

The Property straddles the Athabasca sandstone basin, with the depth to the unconformity varying from 0 to 200 metres. The area has seen little in the way of exploration: mainly airborne surveys and minor prospecting. The last work seen on the Property was an airborne 3339 line km high resolution magnetic survey, completed by Fission Energy Corp in 2011 (the base for Figure 1). UraniumX acquired the claims in 2025 and this is the first work planned for the Property by the Company.

This news release contains references to neighboring properties in which UraniumX has no interest.

Marketing Coordinator Update

The Company is also pleased to announce that it has entered into a services agreement (the "Services Agreement") with Fairfax Partners Inc. ("Fairfax"), pursuant to which Fairfax has agreed to provide digital marketing services which may be considered "Investor Relations Activities" under the policies of the Canadian Securities Exchange. Pursuant to the Services Agreement, UraniumX will pay Fairfax an aggregate cash fee of CAD $175,000 plus applicable taxes for an initial term of six (6) months, effective February 24, 2026. The Company believes that enhanced investor communication is appropriate as it advances its exploration programs at the Property and its broader Athabasca portfolio.

Fairfax is a digital marketing and investor relations consultancy firm headquartered in Vancouver, and it is arm's length to UraniumX. To the Company's knowledge, Fairfax holds no securities of the Company. Fairfax's principal is Daniel Southan-Dwyer, who will provide the services per the Services Agreement. Fairfax Partners' address is Suite #1504, 1221 Bidwell Street, Vancouver, British Columbia, V6G 0B1 and can be contacted via email at [email protected].

Management Update

In addition, the Company announces that Mr. Howard Milne has stepped down as President of the Company. The Company sincerely thanks Mr. Milne for his significant contributions and is pleased that he will continue to serve on the Board of Directors. Effective immediately, Mr. Kirby Renton, the Company's Chief Operating Officer, has been appointed President and will continue to serve as COO.

Stock Option Grant

The Company also announced that it has granted incentive stock options (the "Options") to certain consultants of the Company to purchase up to an aggregate of 750,000 common shares of the Company pursuant to the Company's equity incentive plan. The Options are exercisable for a period of three (3) years at a price of $0.13 per common share. The Options, and any underlying common shares issued on exercise thereof, will have a hold period expiring June 24, 2026, in accordance with the policies of the Canadian Securities Exchange (the "CSE"). Additionally, the Company has granted 500,000 Restricted Share Units ("RSUs") to certain consultants of the Company pursuant to its equity incentive plan. The RSUs, and any underlying common shares issued on exercise thereof, will have a hold period expiring June 24, 2026, in accordance with the policies of the CSE.

Qualified Person

The technical information in this news release has been reviewed and approved by Ken Wheatley, P.Geo., 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 high-potential assets in Saskatchewan's Athabasca Basin, one of the world's premier uranium districts. The Company's portfolio includes the Murphy Lake, Zoo Bay, and NeoCore uranium properties, strategically positioned along the eastern margin of the Basin near established infrastructure and high-grade deposits. UraniumX's exploration programs integrate geophysics, drilling, and academic research collaborations to enhance target generation and discovery potential.

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 planned ground gravity survey at the Property, the anticipated integration of survey results into the geological model, the expected timing of survey completion by mid-April 2026, the generation of drill targets, the retention of Fairfax Partners Inc. as digital marketing coordinator and the services to be provided thereunder, the management transition and its anticipated benefits, 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, 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.

View the original press release on ACCESS Newswire

O.Norris--AMWN