Announcement • Jul 24
Manhattan Uranium Discovery Corp. Identifies High-Grade Uranium Intercepts from 5,668-Hole Database Compilation At I-70, San Rafael District, Utah Manhattan Uranium Discovery Corp. provided an update on ongoing technical work at its I-70 uranium project (the "I-70 Project" or "I-70"), located in the San Rafael uranium district of Utah. The Company has completed a major historical data compilation and digitization effort focused on building a modern drillhole and geological database for the I- 70 Project. The I-70 Project is located within the prolific Colorado Plateau uranium province and is permitted for underground mining. The Company believes this systematic compilation of historical data represents a critical step toward defining modern drill targets within a recognized uranium belt with established infrastructure. The Company has completed a major historical data compilation and digitization effort focused on building a modern drillhole and geological database for the I-70 Project. Work completed to date includes the consolidation, correction, and validation of historical drill collar, downhole survey, and gamma-equivalent uranium data from legacy project maps and records. The database now incorporates approximately 5,668 historical drill collar locations with corresponding downhole survey records. To date, the compilation includes 4,550 historical gamma-equivalent uranium intervals across 2,769 drill holes, with additional non-assay interval coding generated during database validation and 3D modeling to support geological correlation, barren/mineralized zone interpretation, and drill targeting. Of the 2,769 drill holes for which gamma assay data has been recovered to date, approximately 1,985 -- or 72% -- contain at least one interval grading 0.10% eUO or greater, demonstrating the widespread and pervasive nature of uranium mineralization across the I-70 Project. This hit rate is significant for a sandstone-hosted uranium district and underscores the mineral endowment of the I-70 Project area. As part of this work, Manhattan has recovered and digitized numerous historical drill intercepts from legacy project maps that were not previously incorporated into the digital database. Several of these intercepts include elevated gamma uranium values that represent the best historical intersections at the I-70 Project. The table below presents 100 high-priority historical intercepts identified to date from the Company's ongoing review of the database, ranked by grade-thickness (GT). The table excludes holes flagged as mined out, holes flagged within 5 m of known underground workings, intervals beginning at 0 m, and exact 1 m or 2 m intervals to avoid including interpreted interval artifacts. GT, expressed in %·m, is a standard exploration metric used across uranium districts to rank the combined significance of grade and interval width. These intercepts are historical in nature, transcribed from legacy project maps and records, and are being used for exploration targeting and 3D modeling purposes only. They have not yet been independently verified by the Company. New Risk • Jun 21
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Canadian stocks, typically moving 17% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (17% average weekly change). Shareholders have been substantially diluted in the past year (over 5x increase in shares outstanding). Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (CA$32.5m market cap, or US$22.9m). Board Change • Jun 01
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Chairman of the Board Bill Sheriff was the last director to join the board, commencing their role in 2026. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. 
