Highlights

  • F4 Uranium has launched exploration program targeting five mineral properties in Saskatchewan’s Athabasca Basin.
  • Non-brokered private placement of up to 15 million flow-through shares priced at CAD 0.10 per share to raise up to CAD 1.5 million.
  • Exploration activities include electromagnetic surveys and drilling planned to commence around July 2025.

F4 Uranium Corp. (TSXV: FFU) is a Canadian uranium exploration company focused on projects in Saskatchewan’s Athabasca Basin. The company holds 17 mineral properties and operates as a project generator through option agreements with third parties.

The company has disclosed plans for an exploration program covering five of its mineral properties within the Athabasca Basin region in Saskatchewan, alongside a non-brokered private placement aimed at raising up to CAD 1.5 million through the issuance of flow-through shares.

The exploration initiative will focus on the Todd Lake, Wales Lake East, Wales Lake West, Cree Bay, and Grey Island properties. These sites are situated across various parts of the Athabasca Basin and are notable for their proximity to significant uranium projects such as Paladin Energy Limited's Triple R and NexGen Energy Limited's Arrow projects.

The program is scheduled to commence in or around July 2025 and includes a variety of geophysical and drilling activities tailored to each property. At Todd Lake, a ground electromagnetic (EM) survey will be conducted to identify drill targets based on anomalies detected in previous airborne surveys. The Wales Lake East property will undergo drilling with two holes planned to test conductivity anomalies, while Wales Lake West will see three holes drilled alongside further airborne and ground geophysical surveys.

On the Cree Bay property, a mobile magnetotelluric (MT) airborne geophysical survey is planned to better define structural corridors, building on previous airborne VTEM and ground EM surveys. Earlier drill holes at Cree Bay intersected broad structures within the Athabasca Sandstone, showing anomalous uranium geochemistry indicative of mineralization potential. For Grey Island, the initial phase will include a mobile MT airborne survey to develop exploration targets.

To finance these activities, F4 Uranium proposes a private placement of up to 15 million flow-through shares at CAD 0.10 per share, expected to generate gross proceeds of up to CAD 1.5 million. The proceeds will be used to incur Canadian exploration expenses qualifying under the Income Tax Act (Canada) and related Saskatchewan tax credit regulations. The company intends to incur these qualifying expenditures by December 31, 2026, with renouncement to investors effective December 31, 2025.

Red Cloud Securities Inc. will act as finder for the private placement on a best-efforts basis. Compensation includes a 6% cash fee on gross proceeds raised and non-transferable common share purchase warrants equal to 6% of the number of flow-through shares placed, exercisable at $0.10 per share for 24 months post-closing.

The private placement is scheduled to close on or about June 18, 2025, subject to receipt of necessary approvals including the TSX Venture Exchange. Shares and warrants issued will be subject to a four-month and one-day statutory hold period.