F4 Uranium Corp. Receives Approval for Murphy Lake Option Agreement

03.02.2026  |  Newsfile

F4 Uranium Corp. (TSXV: FFU) ("F4" or "the Company") is pleased to announce that pursuant to its press release of July 29, 2025, the TSX Venture Exchange (the TSXV) has granted approval of the option agreement (the "Agreement"), with Stearman Resources Inc. (the "Purchaser") in which the Company has granted the Purchaser the exclusive option to acquire up to a 70% interest in the Company's Murphy Lake uranium property in Saskatchewan (the "Property").

The Transaction required the Company to provide documents to the TSXV including a review of the Company's Financial Statements and property expenditure, the full Terms of the Agreement and impact on the Company.

Ray Ashley, Chief Executive Officer, noted that "The agreement is considered as an arms length transaction. The transaction reflects F4's focused strategy to unlock the project's potential through a committed partnership and establishes a clear path forward for exploration and development at Murphy Lake."

As Previously disclosed the terms of the Agreement include:

• In order to complete the acquisition of 50% of the Property, the Purchaser agrees to paying an aggregate of $800,000 (inclusive of a $50,000 non-refundable payment) over 2 years to the Company, funding a total of $10,000,000 in expenditures over a period of 42 months, and issuing common shares of the Purchaser equal to 9.9% of the Purchaser's issued and outstanding shares within 6 months.

• Following the exercise of the initial option, the Purchaser has the option to acquire a further 20%, for a total of 70% interest of the Property, by paying an aggregate of $500,000 over a period of 3 years, starting from the date of the Agreement and funding an additional $8,000,000 in exploration expenditures on or before the date that is 5 years of the Agreement.

• Following the exercise by Stearman of the Initial Option, Stearman shall grant to F4 a 2.0% net smelter returns royalty in respect of the Property (the "NSR Royalty") payable to F4 upon commencement of commercial production at the Property, provided that the Purchaser shall be responsible only for the percentage of the NSR Royalty equal to its percentage interest in the Property.

• On the earlier of such date as Stearman (i) exercises the additional 20% option; (ii) elects not to exercise the additional 20% option; and (iii) sixty (60) months from the Initial Payment Date, the Company and the Purchaser will form a joint venture to further exploration and development on the Property.

• The Property consists of 8 claims located in northeastern Athabasca basin.

• There were no Finders fees payable on the transaction.

About the Murphy Lake Property

F4's 609-hectare Murphy Lake Property is located in the north-eastern corner of the Athabasca Basin, 30 km northwest of Orano's McLean Lake deposits, 5 km south of ISOEnergy's Hurricane Uranium Deposit and 4 km east of Cameco's La Rocque Lake Uranium Zone where drill hole Q22-040 intersected 29.9% U3O8 over 7.0 m. The 2022 maiden drill program at the Murphy Lake Property consisted of 14 completed drillholes totaling 6,850m; scintillometer results from hole ML22-006 intersected a peak of 2,300 cps (see NR August 10, 2022), which resulted in assay results of 0.065% U3O8 over 2.5m from 322.5m to 324.5m, including 0.242% U3O8 over 0.5m.

Qualified Person

The technical information in this news release has been reviewed and approved on behalf of the Company by Sam Hartmann, P.Geo., President & Chief Operation Officer of F4, and a qualified person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects.

This news release also refers to neighboring properties in which F4 Uranium has no interest, and the Qualified Person has been unable to verify the information from those properties. Mineralization on those neighboring properties is not necessarily indicative of mineralization on the Murphy Lake Property.

About F4 Uranium Corp:

F4 Uranium is a Canadian uranium exploration company focused on the Athabasca Basin in northern Saskatchewan, and the latest uranium explorer, lead by the same management and exploration team with a legacy of discovery successes. The project portfolio includes 17 wholly owned properties totaling roughly 157,000 ha, many of which are near uranium deposits including Paladin's Triple R, Nexgen Energy's Arrow and IsoEnergy's Hurricane projects. The assets were spun out of F3 Uranium in 2024, where the technical and management team made their third, and more recently fourth uranium discoveries at Patterson Lake North and Broach Lake. F4's core focus will be split between the west and east sides of the Athabasca Basin as the company is establishing itself as an explorer and project generator providing shareholders renewed exposure at an early stage.

Forward-Looking Statements

This news release contains certain forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, including statements regarding the suitability of the Properties for mining exploration, future payments, issuance of shares and work commitment funds, entry into of a definitive option agreement respecting the Properties, are "forward-looking statements". These forward-looking statements reflect the expectations or beliefs of management of the Company based on information currently available to it. Forward-looking statements are subject to a number of risks and uncertainties, including those detailed from time to time in filings made by the Company with securities regulatory authorities, which may cause actual outcomes to differ materially from those discussed in the forward-looking statements. These factors should be considered carefully and readers are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

The TSX Venture Exchange and the Canadian Securities Exchange have not reviewed, approved or disapproved the contents of this press release, and do not accept responsibility for the adequacy or accuracy of this release.