SIX OF NINE HOLES RETURN ANOMALOUS RADIOACTIVITY IN EXPANDED 4,092 METRE CAMPAIGN
VANCOUVER, BC / ACCESS Newswire / July 7, 2026 / UraniumX Discovery Corp. (CSE:STMN)(OTCQB:STMXF)(FSE:Q7S) ("UraniumX" or the "Company") is pleased to announce that it has completed its expanded 2026 diamond drill program at its flagship Murphy Lake Property (the "Property") in the Athabasca Basin, Saskatchewan. Operator F4 Uranium Corp. (TSXV:FFU) ("F4") directed the program, which was fully funded by UraniumX under the existing option agreement through which the Company is earning up to a 70% interest in the Property.
The program was expanded during execution from an originally planned approximately 2,500 metres to a completed 4,092 metres in nine drill holes across six target areas. Drilling tested priority target areas identified by the 2026 moving loop electromagnetic ("MLEM") survey and defined two distinct trends: the Murphy Lake North Trend and the Murphy Lake South Trend. Anomalous radioactivity was intersected in five of the six target areas tested, with six of the nine holes returning elevated radioactivity and multiple holes displaying strong hydrothermal alteration at the unconformity. Core has been logged and sampled, and assay results are pending.
The final two holes of the program, ML26-022 and ML26-023, were completed on the Murphy Lake South Trend at Target Areas 6 and 3 respectively, testing two modelled conductors running parallel to the conductor that hosts mineralized hole ML22-006 (0.065% U3O8 over 2.5 metres, including 0.242% U3O8 over 0.5 metres; see F3 Uranium Corp. news release dated August 10, 2022). ML26-023 intersected anomalous radioactivity of up to 400 cps over 0.5 metres in basement rocks just below the unconformity, with downhole gamma readings greater than 500 cps over a total of 3.2 metres peaking at 2,696.9 cps, the highest downhole gamma peak reported during the program. ML26-022 encountered limonite alteration in the sandstone above the unconformity and a weakly altered shear zone in the basement, with no radioactivity above 300 cps.
Program Highlights
Program expanded by approximately 64%. The 2026 campaign was expanded from an originally planned 2,500 metres to a completed 4,092 metres in nine drill holes; the consistently encouraging results gave the partners the confidence to expand the program across the Property's target areas.
Anomalous radioactivity in five of six target areas. Anomalous radioactivity was intersected in five of the six target areas drill tested, with six of nine holes returning elevated radioactivity across two distinct trends, the Murphy Lake North Trend (Target Areas 1 and 2) and the Murphy Lake South Trend (Target Areas 3, 4, 5 and 6).
Two trends defined. Drilling defined two mineralized trends on the Property: the North Trend, where anomalous radioactivity was intersected over more than 330 metres of strike length including visually identified pitchblende in ML26-015; and the South Trend, now extended to a strike length of nearly 1.3 kilometres, where ML26-019A, ML26-021 and ML26-023 returned anomalous radioactivity along strike from the 2022 mineralized intercept in hole ML22-006.
Highest reported downhole response of the program. Hole ML26-023, one of the final two holes of the program, returned the highest downhole gamma peak reported during the program at 2,696.9 cps, with anomalous downhole readings greater than 500 cps over a total of 3.2 metres (286.1 to 287.7 metres and 290.6 to 292.2 metres) and handheld readings up to 400 cps in the first basement rocks below the unconformity (Figure 3), complementing ML26-019A's peak of 2,564 cps (see Technical Disclosure; radiometric readings are preliminary, are not a measure of uranium grade, and may not correlate with chemical assays).
Assays are the next catalyst. Core has been logged and sampled; assay results from the program are anticipated in the second half of 2026.
Results in Context
The Murphy Lake Property is situated in the northeastern Athabasca Basin, approximately 5 km south of IsoEnergy's Hurricane deposit and approximately 4 km from Cameco's La Rocque Lake Uranium Zone. The Property lies approximately 30 km northwest of Orano's McClean Lake deposits and uranium processing facility. The 2026 drill program represents the first systematic test of MLEM-defined conductors on the Property and has established the presence of two mineralized trends with anomalous radioactivity and strong hydrothermal alteration.
The North Trend was tested at Target Areas 1 and 2 and the South Trend at Target Areas 3, 4, 5 and 6; Target Area 6 was the only area tested that did not return radioactivity above 300 cps. The consistency of anomalous radioactivity across both trends, combined with strong hydrothermal alteration at the unconformity in multiple holes, is considered highly encouraging by the Company's geological team.
Drill Program Summary
Table 1. Final Drill Holes ML26-022 and ML26-023: Collar Information and Handheld Spectrometer Results. Composite parameters: minimum thickness 0.5 m, cps cut off 300 cps, maximum internal dilution 2.0 m. Collar and radiometric data for holes ML26-015 through ML26-021 were previously reported in the Company's news releases of June 2, June 9, and June 23, 2026.
Hole ID | Section / Target Area | Easting | Northing | Elev. | Azi | Dip | Interval (m) | Max cps (handheld) | Downhole peak (cps) | Uncon. (m) | Total depth (m) | Notes |
ML26-022 | 180N / TA6 (South) | 547858 | 6492045 | 436 | 293 | -62 | none >300 cps | <300 |
| 326.5 | 407 | Limonite alteration in sandstone above the unconformity; weakly altered shear zone in basement |
ML26-023 | 000 / TA3 (South) | 547300 | 6492036 | 440 | 293 | -83 | 288.5 to 289.0 | 400 | 2,696.9 (>500 cps over 3.2 m, 286.1 to 287.7 and 290.6 to 292.2) | 288.3 | 461 | Anomalous radioactivity in first basement below the unconformity; tested conductor parallel to the ML22-006 host |
Ground Geophysics
UraniumX intends to fund a follow-up ground geophysical survey program, subject to planning with F4 as operator, to refine and expand drill targets across the Property. The survey is expected to extend the coverage of MLEM and other geophysical methods along both the North Trend and South Trend to identify additional conductive corridors for future drilling. Results would be integrated with the 2026 drill results to prioritize targets for the next phase of exploration.
Esen Boldkhuu, CEO of UraniumX, commented: "We set out to test both trends and we did exactly that, significantly exceeding our initial target of 2,500 metres with 4,092 metres completed across nine drill holes. Two distinct mineralized trends are now defined across the Property: the North Trend with anomalous radioactivity over more than 330 metres of strike and visible pitchblende in our very first hole, and the South Trend, now nearly 1.3 kilometres, along strike from the historical intersection in hole ML22-006. ML26-023, one of our final two holes, returned the highest downhole gamma peak reported during the program at 2,696.9 cps. Anomalous radioactivity in five of the six target areas we tested is exactly the consistency we wanted to establish before assays, and we look forward to reporting the laboratory results as they are received."
Next Steps
Assay results from the 2026 drill program are anticipated in the second half of 2026. Core samples have been submitted to Saskatchewan Research Council's Geoanalytical Laboratories in Saskatoon for multi-element analysis including uranium (U3O8). UraniumX will report assay results promptly upon receipt.
The integration of drill results with new geophysical data will inform the design of the next drill program at Murphy Lake.
About Murphy Lake
The Murphy Lake Property comprises 609 hectares in the northeastern Athabasca Basin, Saskatchewan. UraniumX is earning up to a 70% interest in the Property pursuant to an option agreement with F4 Uranium Corp. (TSXV: FFU). The Property is located approximately 5 km south of IsoEnergy's Hurricane deposit, approximately 4 km from Cameco's La Rocque Lake Uranium Zone, and approximately 30 km northwest of Orano's McClean Lake deposits and processing facility.
A National Instrument 43-101 technical report entitled "Technical Report For The Murphy Lake Project, NE Athabasca Basin, Saskatchewan, Canada", effective March 20, 2024, prepared by Terra Modelling Services (Louis F. Fourie, P.Geo.), is available under the Company's profile on SEDAR+ at www.sedarplus.ca. No mineral resources have been defined on the Property to date.
References to neighboring properties and deposits, including IsoEnergy's Hurricane deposit, Cameco's La Rocque Lake Uranium Zone, and Orano's McClean Lake deposits, are provided for geographic context only. Mineralization on neighboring properties is not necessarily indicative of mineralization on the Murphy Lake Property. Information concerning neighboring properties is derived from public disclosure by their respective owners and has not been independently verified by the Company or its Qualified Person.
Technical Disclosure
Handheld spectrometer readings reported in this news release were obtained using a handheld Radiation Solutions RS-125 spectrometer on drill core. Downhole gamma readings were obtained from a Mount Sopris QL-40GR downhole natural gamma probe. Radiometric readings are a preliminary indication of the presence of radioactive minerals and are not a direct or reliable measure of uranium grade. Radiometric readings may not correlate with chemical assay results. Visual identification of mineralization, including pitchblende, is preliminary in nature and is not a substitute for chemical assay. Assay results from chemical analysis of core samples are required to determine uranium grades and are pending. Composite parameters applied to handheld spectrometer data: minimum composite thickness of 0.5 m, cut off of 300 cps, and maximum internal dilution of 2.0 m. All reported intervals are downhole lengths; true thicknesses have not been determined.
Qualified Person
The technical information in this news release has been reviewed and approved by Ken Wheatley, P.Geo., a Qualified Person as defined by National Instrument 43-101. Mr. Wheatley has reviewed the information disclosed by F4 Uranium Corp., as operator of the Murphy Lake program, and in doing so has relied upon the review and approval of the underlying sampling, radiometric and geological data by Sam Hartmann, P.Geo., Qualified Person for F4. Chemical assay results for the program are pending and have not yet been received.
About UraniumX
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: info@uraniumx.ca
Telephone: (604) 377-8994
Website: www.uraniumx.ca
Forward Looking Statements
This news release contains "forward looking information" and "forward looking statements" (collectively, "forward looking statements") within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", "is expected", "anticipates", "plans", "budget", "scheduled", "forecasts", "estimates", "believes", or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward looking statements. In this news release, forward looking statements relate, among other things, to: the anticipated receipt and results of assays from the 2026 drill program; plans for a ground geophysical survey program; the Company's ability to earn up to a 70% interest in the Murphy Lake Property; and the Company's plans for future exploration.
Forward looking statements are based on reasonable assumptions, estimates, analysis and opinions of management made in light of its experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect. The Company assumes no obligation to update forward looking statements if circumstances or management's estimates or opinions should change except as required by applicable securities laws. Forward looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by any forward looking statements.
Readers are cautioned not to place undue reliance on forward looking statements. The forward looking statements contained in this news release are made as of the date hereof and accordingly are subject to change after such date. The Company disclaims any intent or obligation to update publicly or otherwise revise any forward looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.
The CSE has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: UraniumX Discovery Corp.
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/metals-and-mining/uraniumx-and-f4-complete-murphy-lake-drilling-define-two-mineralized-trends-1187290
