Announcement • Jun 12
Uraniumx Discovery Corp. Reports Anomalous Radioactivity in 300-Metre Step-Out Holes At Murphy Lake
UraniumX Discovery Corp. has reported additional drill results from the 2026 diamond drill program at the Murphy Lake Uranium Property in the Athabasca Basin, Saskatchewan. Drill holes ML26-017 and ML26-018, the third and fourth holes of the program, both intersected anomalous radioactivity within a thick graphitic and sulphide-bearing deformation zone in the basement, located approximately 300 metres along strike from the holes previously reported on June 2, 2026. Drill hole ML26-017 returned anomalous handheld spectrometer readings up to 460 cps within a 0.5 metre interval (386.0 to 386.5 metres), with downhole gamma probe readings peaking at 2,217 cps, and intersected a 13.2-metre graphitic and sulphide-rich deformation zone (401.6 to 414.8 metres). Drill hole ML26-018, drilled up-dip of ML26-017, returned anomalous handheld spectrometer readings up to 350 cps within a 0.5 metre interval (347.0 to 347.5 metres), with downhole gamma probe readings greater than 500 cps over 6.6 metres (peak 1,097.5 cps), and intersected a 10.3-metre deformation zone (355.8 to 366.1 metres). Combined with the visually identified pitchblende reported in drill hole ML26-015 on June 2, 2026, the first four holes have demonstrated three consistent indicators of an active uranium mineralizing system across an approximately 300-metre conductive corridor: graphitic and sulphide-bearing shear in the basement, intense bleaching, clay, chlorite, and limonite alteration in sandstone and basement, and anomalous handheld and downhole gamma readings in every hole drilled. This corridor is referred to as the Murphy Lake North Trend. Four holes completed, zero barren holes. Every drill hole has returned structural, alteration, and radiometric indicators on targets identified by the Company-funded MLEM survey. No drill hole completed to date has been abandoned, and no drill hole has been returned barren of indicator response. The program is advancing to Target Area 4 to test along strike from historical drill hole ML22-006, which intersected 0.242% U3O8 over 0.5 metres within a graphitic deformation zone. Assay results from drill holes ML26-015 through ML26-018 are pending. Drill holes ML26-017 and ML26-018 were drilled at Target Area 2 on the Property, testing a conductor target along strike of the same resistivity low trend as Target Area 1, as identified by the Company-funded MLEM survey. Drill hole ML26-017 returned handheld spectrometer readings greater than 300 cps over 0.5 metres at 386.0 to 386.5 metres (peak 460 cps), with corresponding downhole gamma probe readings greater than 500 cps over 0.4 metres (peak 2,217 cps). ML26-017 intersected a 13.2-metre graphitic and sulphide-rich deformation zone from 401.6 to 414.8 metres. Both holes encountered the same style of conductive structure imaged by the Company-funded MLEM survey. Drill hole ML26-018, drilled up-dip of ML26-017, returned handheld spectrometer readings greater than 300 cps over 0.5 metres at 347.0 to 347.5 metres (peak 350 cps), with corresponding downhole gamma probe readings greater than 500 cps over 6.6 metres (peak 1,097.5 cps). ML26-018 intersected a 10.3-metre deformation zone from 355.8 to 366.1 metres. The first four holes have answered key questions. With four drill holes completed in the 2026 Phase 1 program, the following has been demonstrated across the Murphy Lake North Trend, an approximately 300-metre conductive corridor at the northern end of the Property: The conductive structure imaged by the May 2026 MLEM survey has been confirmed by drilling and is present at every drilled target across approximately 300 metres of strike; A consistent graphitic and sulphide-bearing shear zone is present in the basement at each tested location; Intense hydrothermal alteration, including strong bleaching, clay, chlorite, and patchy limonite alteration, is present in both the sandstone above the unconformity and the basement at each tested location; Uranium-bearing fluids reached the Property, as evidenced by the visually identified pitchblende reported in drill hole ML26-015 above the unconformity; and Handheld spectrometer and downhole gamma probe readings exceeded the Company's designated "anomalous" thresholds in every drill hole completed to date. These results establish the geological context of an active uranium mineralizing system. The Murphy Lake North Trend has been drill-confirmed across approximately 300 metres of strike with consistent geological signature in each hole. Laboratory assay results from drill holes ML26-015 through ML26-018 are anticipated in the second half of 2026 and will determine the uranium content of the intercepts described in this news release and in the news release dated June 2, 2026. The remaining objective of the 2026 exploration program is to determine whether high-grade uranium mineralization is present within the now-confirmed conductive corridor. The program will advance to Target Area 4, located at the southern end of the Murphy Lake Property and 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. Target Area 4 was identified and refined by the May 2026 MLEM survey. Beyond the currently funded Phase 1 program, the Company is evaluating options to expand the 2026 exploration program to include systematic follow-up across the Murphy Lake North Trend and the remaining MLEM-defined priority target areas. Any such expansion would be subject to capital availability and continued positive geological results. Murphy Lake sits in the heart of the eastern Athabasca Basin's most active exploration corridor, 5 km from IsoEnergy's Hurricane Deposit, and 4 km from Cameco's La Rocque Lake Uranium Zone, where drill hole Q22-040 intersected 29.9% U3O8 over 7.0 metres. 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 ML26-018 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 9, 2026 for full technical detail on instrument specifications, composite parameters, and sample preparation procedures.
