UraniumX Discovery Corp. (CSE: STMN) (OTC Pink: STMXF) (FSE: Q7S) (the “Company” or “UraniumX”) is pleased to announce, further to its news release dated March 18, 2026, that the Moving Loop Electromagnetic (“MLEM”) ground geophysical survey at the Murphy Lake Property (“Murphy Lake”) in the northeastern Athabasca Basin has been completed. The survey was operated by F4 Uranium Corp. (TSXV: FFU) (“F4”) and fully funded by UraniumX.
Survey Results
Preliminary interpretation of the new data shows that the prospective conductor systems have been extended by an additional 1.45 km, significantly increasing the size of the high-priority target area.
The new conductor extensions display a strong correlation with basement resistivity lows, particularly in the corridor between two key historic drill holes. Drill hole ML22-012, located at the northern end of the survey area, intersected strongly anomalous uranium geochemistry in the Athabasca Sandstone (up to 56 ppm U) immediately above the unconformity. Drill hole ML22-006 returned a radioactive intercept assaying 0.065% U₃O₈ over 2.5 metres, including 0.242% U₃O₈ over 0.5 metres, within a 4.2 metre wide deformation zone from 322.5 m to 324.5 m, approximately 20 metres below the Athabasca unconformity (see F3 Uranium news release dated August 10, 2022).
The expanded strike length increases the prospective corridor connecting these two historic intercepts and supports the targeting rationale for the Company’s upcoming drill program.
Drill Program
Drilling at Murphy Lake is scheduled to commence in mid-May 2026. F4 is the operator of the drill program, which is being funded by UraniumX in accordance with the terms of the option agreement (see F4 news release dated February 2, 2026). The program is fully funded.
“The survey extended the conductors into areas we had not previously covered, adding 1.45 km of strike length between our two key drill holes. What the previous programs lacked was tight enough geophysical coverage to know exactly where to put the next holes, and we now have that. The drill targets are being finalized and we look forward to commencing drilling in the middle of May,” said Esen Boldkhuu, Chief Executive Officer of UraniumX.
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