Global Uranium and Forum Energy Metals Announce the Completion of Drilling and Ground Geophysical Surveys on the Northwest Athabasca Project, Saskatchewan

Diamond drilling has wrapped up on the Zone 2A and Rosie areas, and SJ Geophysics completed ground EM and Resistivity surveys on the Spring Bay area on the Northwest Athabasca Project in Saskatchewan’s Athabasca Basin

/EIN News/ -- CALGARY, Alberta, April 24, 2025 (GLOBE NEWSWIRE) -- Global Uranium Corp. (CSE: GURN | OTC: GURFF | FRA: Q3J) (the "Company" or “Global”) and Forum Energy Metals Corp. (TSX.V: FMC; OTCQB: FDCFF) (“Forum”) are pleased to announce that it has completed its diamond drilling program, as well as ground geophysical surveys on the Northwest Athabasca (NWA) Project, located along the northwest shore of Lake Athabasca in Saskatchewan, Canada (Figure 1). A total of 656 metres were drilled at Zone 2A and Rosie grid areas and SJ Geophysics completed ground Time Domain Electromagnetic (TDEM) and Direct Current Induced Polarization (DCIP) surveys over the Spring Bay grid (Figure 2). The 2025 winter drilling confirms the highly prospective nature of the project by intersecting elevated radioactivity and the key alteration systems distinct to unconformity-type uranium mineralization.

HIGHLIGHTS:

• Elevated radioactivity along fractures (170 to 300 cps – handheld scintillometer) intersected in both drill holes along at Zone 2A
  
  
• Bleached sandstone and elevated radioactivity (up to 120 cps) within fractures in the underlying basement gneiss at Rosie
  
  
• Completed ground geophysical survey at Spring Bay that shows a major coincident conductor with the strong gravity anomaly
  
  

“While this winter’s program presented challenges, it also reinforced the strategic value of the NWA Project,” stated Ungad Chadda, CEO of Global Uranium. “The integration of historical datasets with new drilling and geophysics has advanced our understanding of the subsurface systems, and we’re confident that Forum’s technical expertise will continue to sharpen our targeting and guide future exploration success.”Rebecca Hunter, VP Exploration of Forum Energy Metals stated, “We had a very ambitious winter exploration program with a lot of logistical challenges including building a new camp and moving our equipment to site via an over 70 km ice-road from Uranium City. We are encouraged that we were able to test the Zone 2A and Rosie areas and intersected elevated radioactivity in 3 of 4 drill holes. The radioactivity and alteration suggest the area is fertile to host uranium mineralized zones.”

Diamond Drilling

A total of 656 m was drilled in four drill holes on the Northwest Athabasca Project in winter 2025 (Table 1). Two holes targeted the Zone 2A area (Figure 3), which hosts an enigmatic high-grade historical intercept (5.69% over 8.5 m in drill hole Z2A-12 – originally drilled by Uranerz). The objective of the 2025 drilling was to investigate the Zone 2A area using remodeled historical EM data to target the mineralized area more effectively. At Rosie, two holes targeted a NW-trending EM conductor along a magnetic and gravity high to low boundary (Figure 3). The objective was to determine if a major fault zone with was east up-thrown block was present and if there is evidence of mineralization processes in the area.

In Zone 2A, from DDH Z2A25-017 up to 300 cps (hand-held scintillometer) was intersected within fractures in a broader prospective fault structure with graphitic pelite, pegmatite and quartz vein development. Drill hole Z2A25-018 intersected several fractures with counts ranging from 170 to 220 cps in a strongly hematized fault zone. The Zone 2A drilling successfully hit the mineralized structure and provides a better understanding on how to target this zone in the future.

At the Rosie Grid, ROS25-001 intersected 24 m of bleached pebbly sandstone and a bleached unconformity contact. Alternating moderately bleached and hematitzed basement intervals continue to 119 m and show that the basement rocks in this area have been affected by prospective fluid movement. Elevated counts up to 120 cps are present within silicified basement gneiss and possible dravite clay is present along fractures in the bleached intervals. Drill hole ROS25-002 intersected weakly bleached and hematite altered biotite gneiss at the top of the hole to 32 m. The Rosie drilling successfully reveals that a major fault is present between the 2 drill holes, which has up-thrown the eastern block and shows this trend is analogous to the uranium mineralization setting of the Maurice Bay mineralization in the area. The bleaching and clay alteration at Rosie also suggests that an unconformity uranium system could be present in the area.

The key takeaways from this drill campaign are the identification of elevated radioactivity in three of the four drill holes, along with the presence of key alteration types associated with uranium mineralization processes in the project area

Ground Geophysics

The ground geophysical program over the Spring Bay area was completed on April 4^th. The final EM data will be processed shortly and the final resistivity data will take around a month to process. The preliminary EM data shows a very prospective EM conductor associated with the strong gravity low present at the Spring Bay area and will make this area a high priority for the future. The resistivity data over the same area will also narrow down potential high-priority alteration zones to test in concert with the gravity and EM data.

The Northwest Athabasca Project

The Northwest Athabasca Project is located along the northwest shore of Lake Athabasca on the margin of the Athabasca Basin 1,000 km north-northwest of Saskatoon. The western margin of the property is situated along the Alberta – Saskatchewan provincial border and the closest community is Uranium City, which is 75 km east of the project. The project consists of 11 contiguous mineral claims covering 13,876 ha.

Qualified Person

Jared Suchan, Ph.D., P.Geo., Global Uranium’s Vice President of Exploration and Qualified Person under National Instrument 43-101, has reviewed and approved the contents of this news release.

Quality Assurance and Quality Control

For a discussion of the QA/QC and data verification processes and procedures at the NWA Project, please see its technical report entitled “NI 43-101 on the Northwest Athabasca Project Northern Saskatchewan Centered at: Latitude 59°24’00” N, Longitude 109°54’00” W”, with an effective date of June 27, 2024, which is available under the Global Uranium’s profile at www.sedarplus.ca.

ABOUT GLOBAL URANIUM CORP.

Global Uranium Corp. focuses on exploring and developing uranium assets primarily in North America. In addition to its rights under the Option Agreement, the Company currently has rights to the following other uranium projects: the Wing Lake Property in the Mudjatik Domain of Northern Saskatchewan, Canada; the Northwest Athabasca Joint Venture with Forum Energy Metals Corp. and NexGen Energy Ltd. in the Northwest Athabasca region of Saskatchewan, Canada; and the Great Divide Basin District Projects, the Gas Hills District Projects, and the Copper Mountain District Pro-jects in Wyoming, USA.

About Forum Energy Metals

Forum Energy Metals Corp. (TSX.V: FMC; OTCQB: FDCFF) is focused on the discovery of high-grade unconformity-related uranium deposits in the Athabasca Basin, Saskatchewan and the Thelon Basin, Nunavut. For further information: https://www.forumenergymetals.com.

Figure 1 Location of the Northwest Athabasca Project along Lake Athabasca in northwestern Saskatchewan. The closest communities are Uranium City, Fond du Lac and Fort Chipewyan. The western margin of the property is located along the Alberta – Saskatchewan Border.

Figure 2 The main uranium showings and drill target areas on the Northwest Athabasca Project. The residual gravity and EM conductors are shown as the background.

Figure 3 The main target areas (Zone 2A and Rosie). The residual gravity and EM conductors are shown as the background.

ON BEHALF OF THE BOARD OF DIRECTORS

Ungad Chadda
CEO

587-330-0045
info@globaluranium.com

FORWARD-LOOKING STATEMENTS

Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company’s current belief or assumptions as to the outcome and timing of such future events.

In particular, this press release contains forward-looking information relating to, among other things: the Project, including the prospectivity of the Project, its potential to host extensions of the McArthur River/Fox Lake Structural Corridor and other beneficial geological trends; the Company’s ability to establish the Project as a significant contributor to the Athabasca Basin's uranium landscape; and the Company’s and Cosa’s exploration plans with respect to the Project, including the Project’s candidacy for advanced geophysical exploration and drilling to delineate compelling targets. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information, including the assumption that: the historical work done with respect to the Project is representative of the actual geological nature of the Project; that the Project may share the geological characteristics of nearby projects, deposits and mines; and that the Company and Cosa will successfully collaborate with respect to the exploration of the Project pursuant to the Option Agreement, including by progressing advanced geophysical exploration and drilling. Those assumptions and factors are based on information currently available to the Company. Although such statements are based on reasonable assumptions of the Company’s management, there can be no assurance that any conclusions or forecasts will prove to be accurate.

Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include: the risk that the Company does not earn-in to any interest in the Project pursuant to the Option Agreement; risks inherent in the Company and Cosa’s joint exploration of the Project, including the risk that the Company and Cosa disagree on the manner or timeline for the exploration of the Project and/or are unable to collaborate on the exploration of the Project successfully pursuant to the Option Agreement; risks inherent in the exploration and development of mineral deposits, including risks relating to receiving requisite permits and approvals, changes in project parameters or delays as plans continue to be redefined, that mineral exploration is inherently uncertain and that the results of mineral exploration may not be indicative of the actual geology or mineralization of a project; that mineral exploration may be unsuccessful or fail to achieve the results anticipated by the Company; that the characteristics of the Project may not reflect the characteristics of nearby projects, deposits and mines; operational risks; regulatory risks, including risks relating to the CSE’s approval of the share issuances pursuant to the Option Agreement and the acquisition of the necessary licenses and permits to conduct exploration on the Project; financing, capitalization and liquidity risks; title and environmental risks; and risks relating to the failure to receive all requisite regulatory approvals. The forward-looking information contained in this release is made as of the date hereof, and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

The Canadian Securities Exchange has not reviewed, approved, or disapproved the contents of this ‎press release.

Images accompanying this announcement are available at

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Figure 1

Location of the Northwest Athabasca Project along Lake Athabasca in northwestern Saskatchewan. The closest communities are Uranium City, Fond du Lac and Fort Chipewyan. The western margin of the property is located along the Alberta – Saskatchewan Border.

Figure 2

The main uranium showings and drill target areas on the Northwest Athabasca Project. The residual gravity and EM conductors are shown as the background.

Figure 3

The main target areas (Zone 2A and Rosie). The residual gravity and EM conductors are shown as the background.