American Marconi Wireless News - UraniumX Expands Murphy Lake Drill Program to 4,000 metres

VANCOUVER, BC / ACCESS Newswire / 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% U₃O₈ over 2.5 metres, including 0.242% U₃O₈ 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 associated 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.

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 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 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.

SOURCE: UraniumX Discovery Corp.

View the original press release on ACCESS Newswire

F.Dubois--AMWN