Canadian Uranium Corp. Initiates First Steps on Castle South Uranium Project

09.12.2025  |  The Newswire

Vancouver - Canadian Uranium Corp. (CSE: CANU) (formerly, Free Battery Metal Limited) ("CANU" or the "Company"), an exploration-focused company targeting high-potential uranium projects in the Athabasca Basin of Northern Saskatchewan, is pleased to provide shareholders with an update on the next steps for its recently acquired 80% earn-in interest in the Castle South Uranium Project (formerly known as the Cable Lake Property)

CANU is currently defining exploration targets and preparing permit applications as it embarks on its initial investigation of the Castle South Uranium Project. The property is situated along the southern lip of the Athabasca Basin, where numerous interpreted faults and structural features offer strong potential for mineralization. The Company intends to explore these structures using models similar to those that contributed to discoveries at Patterson Lake South and the Arrow deposit.

Three-Phase Exploration Program Beginning Q1 2026

Phase 1 - MT Survey & Data Compilation

The Company will commence a Magnetotelluric (MT) survey, a passive geophysical method that measures natural variations in Earth's magnetic and electric fields-originating from lightning, solar winds, and other natural sources-to map subsurface electrical resistivity. This survey will help define the geology and identify geophysical anomalies across the claim group.

The exploration target model is a classic unconformity-style uranium system, focusing on graphitic conductors within magnetic lows that may indicate a hydrothermal depositional environment. With an investigative depth of over 1 km, the MT survey will also help identify anomalies within magnetic breaks at depths consistent with the discoveries at PLS and Arrow.

Phase 1 will also include a comprehensive data compilation program, integrating historical datasets with the new MT survey as the framework.

Phase 2 - Field Prospecting & Ground Geophysics

Scheduled for spring and summer 2026, this phase includes radiometric surveys, ground magnetic (Mag) and induced polarization (IP) geophysics, and Man-portable Shaw drilling to test surface expressions.

These activities are designed to correlate surface results with the subsurface anomalies identified in Phase 1, with the goal of defining high-priority diamond drilling targets.

Phase 3 - Diamond Drilling Program

Based on results from the first two phases, CANU anticipates a large-scale diamond drilling program totaling approximately 10,000 metres of NQ2 drilling. Historical data suggests that drill targets may exist between 100-550 metres depth. Drilling is expected to begin in September 2026.

"Preparing our exploration strategy and exploration permit applications for the Castle South Uranium Project, marks an exciting step forward as we advance one of the more highly anticipated uranium targets in the basin. This milestone reflects our commitment to disciplined exploration and our confidence in the project's potential to deliver meaningful discovery." remarked Geoff Balderson, CFO

About the Castle South Uranium Project

Formerly known as the Cable Lake Property, the Project Castle South Uranium Project covers 20,600 hectares along the southern margin of the Athabasca Basin, a setting that provides distinctive geological characteristics and strong potential for uranium mineralization. The property hosts at least five high-priority target areas, including magnetic highs associated with listric and dyke structures, high-conductive anomalies, and approximately 52 km of electromagnetic conductors. These targets were originally identified in a 2007 airborne geophysical survey.

About Canadian Uranium Corp.

Canadian Uranium Corp. (CSE: CANU) is an emerging uranium exploration and development company focused on the prolific Athabasca Basin-the world's premier district for high-grade uranium deposits. The Company's strategy centers on assembling highly skilled technical teams with expertise in uranium geology, advanced geophysics, and northern exploration logistics. Through disciplined acquisitions, innovative exploration methodologies, and strategic partnerships, CANU aims to accelerate project advancement and unlock value across its exploration portfolio.

Contact Information:

Canadian Uranium Corp.

Geoff Balderson, Chief Financial Officer

604-602-0001

gb@corporateminds.ca

Caution Regarding Forward-Looking Information

This press release includes "forward-looking information" that is subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. Forward-looking statements may include but are not limited to, statements relating to the Project and the Company's ability to complete the Transaction on the terms announced or at all. Such statements are subject to all of the risks and uncertainties normally incident to such events. Investors are cautioned that any such statements are not guarantees of future events and that actual events or developments may differ materially from those projected in the forward-looking statements. Such forward-looking statements represent management's best judgment based on information currently available.

The Canadian Securities Exchange has not in any way passed upon the merits of the Transaction and has neither approved nor disapproved the contents of this press release.

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