Nuclear Fuels Inc. Announces Successful Completion of Expanded Drill Program at Kaycee ISR Uranium Project in Wyoming

VANCOUVER, BC, Aug. 29, 2024 /PRNewswire/ – Nuclear Fuels Inc. (CSE: NF) (OTCQX: NFUNF) has recently completed an expanded drill program at its Kaycee In-Situ Recovery (ISR) Uranium Project in Wyoming’s Powder River Basin. The initial successful drill program, conducted in the first half of 2024, confirmed and expanded uranium mineralization associated with two of the seven known historical resource areas along the 36-mile trend.

The drill program revealed the potential connection of the Saddle and Spur Zones and identified previously unknown deeper zones. Greg Huffman, CEO of Nuclear Fuels, expressed excitement about the results, stating that the data gathered from the initial program has provided the team with high-priority targets for the expanded program. The company’s experienced field crew has already begun the new drill program, with updates expected throughout the rest of 2024 and into 2025.

Highlights of the drill program include the identification of supplementary mineralized horizons through deeper drilling, the discovery of a southerly extension trending from the Spur Zone towards the Saddle Zone, and the completion of an evaluation of over 500 historical well logs to increase the permit area and identify unutilized drill hole locations.

In the Saddle Zone, 169 drill holes were completed, with 32 returning Grade Thickness (GT) values of 0.25 or higher. Deeper drilling in this zone revealed anomalous mineralization in formations deeper than previously known. In the Spur Zone, 31 drill holes were completed, with 15 returning GT values above 0.25, including one hole with a GT of 1.543.

The company also acquired new oil and gas well logs, which, combined with the data from the initial drill program, have enhanced their understanding of the geology and mineralization at the Kaycee Uranium Project. This has led to the submission and approval of an expanded drilling permit, allowing for 700 drill holes to be completed to verify and expand existing zones and test new high-priority targets.

The Kaycee Uranium Project, located in Wyoming’s Powder River Basin, covers over 42 square miles of mineral rights and hosts more than 110 miles of known roll fronts. It is believed to be the only project in the basin where all three historically fertile sandstone formations are mineralized and potentially accessible for ISR extraction. Nuclear Fuels’ management of the entire district marks the first time since the early 1980s that one company has controlled the entire area.

Overall, the completion of the expanded drill program at the Kaycee ISR Uranium Project represents a significant milestone for Nuclear Fuels Inc. as they continue to advance their exploration and development efforts in Wyoming’s Powder River Basin. Nuclear Fuels Inc. Acquires Kaycee Mission in Wyoming

In 2023, Nuclear Fuels obtained the Kaycee Mission from enCore Power Corp., which keeps a back-in proper for 51% of the mission via paying 2.5X the exploration prices and financing the Kaycee mission to manufacturing (prices recoverable from manufacturing) upon Nuclear Fuels setting up a minimal 15 million pound eU3O8 43-101 compliant useful resource.

Wyoming is a confirmed and prolific uranium manufacturer with a pro-energy government and established regulatory regime for the allowing and extraction of uranium thru ISR technology. As Wyoming is among the few “Agreement States” hosting ISR uranium deposits, allowing and advancing uranium initiatives is extra efficient and streamlined. Wyoming, with over 250 million pounds of ancient production, ranks because the condition with the second most uranium production, mainly from the Powder River Basin.

Drill holes had been finished via Unmarried H2O Products and services the usage of a rotary drill rig. Chip samples are collected for lithological logging each and every 5 feet. Century Geophysics of Tulsa Oklahoma is contracted to conduct downhole gamma ray, resistivity, spontaneous potential, and redirection. Century Geophysics calibrates the downhole equipment in the US Department of Energy uranium logging Test pits in Casper Wyoming to safeguard the accuracy of the i’m sick hollow gamma ray wood measurements. % eU3O8 is a measure of gamma depth from a decay made from uranium and isn’t an instantaneous size of uranium.

The technical content material of this information let go has been reviewed and licensed via Mark Travis, CPG., a contractor to the Corporate, and a Certified Individual as outlined in Nationwide Tool 43-101.

About Nuclear Fuels Inc.

Nuclear Fuels Inc. is a uranium exploration corporation advancing early-stage, district-scale In-Situ Healing (“ISR”) amenable uranium initiatives in opposition to manufacturing in the US of America. Leveraging extensive proprietary historic databases and deep industry experience, Nuclear Fuels is well-positioned in a sector eager for vital and sustained expansion. Nuclear Fuels has consolidated the Kaycee Wyoming district under single-company control. Currently executing its second drill program on the Kaycee Mission, the Corporate objectives to expand on historic sources across a 33-mile development with over 110 miles of mapped roll-fronts outlined via 3,800 drill holes. The Corporate’s strategic relationship with enCore Power Corp., America’s Clean Energy Company™, offers a mutually beneficial “pathway to production,” with enCore holding the suitable to back- in to 51% ownership within the flagship Kaycee Mission in Wyoming’s prolific Powder River Basin.

Certain knowledge on this information let go constitutes forward-looking statements under applicable securities laws. Any statements which are contained on this information let go that are not statements of historic fact may be deemed to be forward-looking statements. Ahead-looking statements are often identified by words corresponding to “may”, “should”, “anticipate”, “expect”, “potential”, “believe”, “intend” or the negative of those terms and identical expressions. Ahead-looking statements in this information let go include, but are not limited to, statements referring to planned exploration strategies and the outcome of supplementary exploration work in seeking to establish mineral resources as defined in NI43-101 on any of our properties. Ahead-looking statements involve known and unknown risks, including, without limitation, risks associated with the completion of planned exploration strategies and the outcome of those strategies; the ability to access additional capital to fund planned and technology operations; regulatory risks including exploration permitting; risks associated with title to our mineral projects; the ability of the company to implement its business strategies; and other risks as contained in documents available for review at www.sedar.com under the Company’s profile. Readers are The Importance of Regular Exercise for Overall Health”

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