North Shore Uranium Ltd · TSXV:NSU
North Shore Uranium — Investor Presentation (September 2026)
22 slides from North Shore Uranium's investor presentation, September 2026
Slide 1: Uranium Exploration in New Mexico and the Athabasca Basin
TSXV: NSU URANIUM EXPLORATION IN NEW MEXICO AND THE ATHABASCA BASIN . September 2026
Slide 2: Forward-Looking Statements
FORWARD-LOOKING STATEMENTS Disclaimer This presentation (“Presentation”) is a summary description of the business of North Shore Uranium Ltd. (“North Shore” or the “Company”) and does not purport to be complete. It is not an advertisement, solicitation, or offering of securities in any jurisdiction
Slide 3: Overview: The Opportunity
OVERVIEW: THE OPPORTUNITY Uranium projects located in two well-known jurisdictions • New Mexico: the largest historical uranium producing jurisdiction in the United States • The Athabasca Basin: The highest-grade uranium district on Earth Rio Puerco Project • Estimate of 6.0 Mt at an average grade o
Slide 4: Overview: Leadership
OVERVIEW: LEADERSHIP DIRECTORS MANAGEMENT and ADVISORS Blake Steele Brooke Clements (Director, President and CEO) Former President/CEO Azarga Uranium Corp. (TSX:AZZ) Geologist with 35+ years industry experience who prior to its successful sale to enCore Energy for C$200M received the AMEBC Hugo Dumm
Slide 5: Overview: Capital Structure
OVERVIEW: CAPITAL STRUCTURE SHARE CAPITAL SUMMARY1 Shares outstanding 89,533,730 Share price (TSXV:NSU) C$0.175/share Market capitalization C$15.7 M Warrants/options/fixed awards 23,520,106 Fully diluted 113,053,836 1) As at September 15, 2026 Insiders and founders hold over 24% of issued shares 5 N
Slide 6: Rio Puerco Project: Overview
RIO PUERCO PROJECT: OVERVIEW ● Located 60 km NW of Albuquerque, New Mexico in the Grants Uranium District, the largest historical uranium producer in the United States ● Historical Resource estimate of 6.0 Mt at an average grade of 0.09% eU3O8 using a cutoff grade of 0.03% eU3O8 for 11.4 M lbs. of U
Slide 7: Rio Puerco Project: History
RIO PUERCO PROJECT: HISTORY • Kerr-McGee Corporation (“Kerr-McGee”) drilled over 1,100 exploration holes at or near Rio Puerco in the 1960s and 1970s • Kerr-McGee began development of a room and pillar underground uranium mine in the 1970s, but after a short trial mining phase operations cease due t
Slide 8: Rio Puerco: Summary of Phase 1 Drill Results
RIO PUERCO: SUMMARY OF PHASE 1 DRILL RESULTS RP-26-18-640 • Significant uranium mineralization was intersected in all 13 drill holes (see Appendix A) using a cutoff of 0.02% eU308 and a minimum grade x thickness of 0.30 including: o RP-26-18-39: 27.0 ft at 0.30% eU3O8 o RP-26-18-640: 12.5 ft at 0.33
Slide 9: Rio Puerco: Phase 1 Drill Program
RIO PUERCO: PHASE 1 DRILL PROGRAM • North Shore completed Phase 1 of its inaugural drill program at Rio Puerco in Summer of 2026, drilling 13 mud rotary holes totaling 9,274 ft (2,828 m) • Reclamation has been completed at all sites Photo of drill hole RP-26-18-39 reclaimed Purple outline is the app
Slide 10: Rio Puerco: Next Steps
RIO PUERCO: NEXT STEPS • Phase 2 drill program expected to commence in Q4 2026 • All permits in place for drilling up to 13 additional holes • Once Phase 2 drilling is completed, North Shore plans to use results from Phase 1 and Phase 2 drilling to validate Kerr-McGee’s historical drill data to prep
Slide 11: Athabasca Basin Overview
ATHABASCA BASIN OVERVIEW Falcon and West Bear properties cover over 46,000 ha at the eastern margin of the Athabasca Basin Located in proximity to: • Three active mines that account for 100% of Canada’s uranium production; Cigar Lake, McCarthur River and McClean Lake • Operating uranium mills locate
Slide 12: Falcon Property: Overview
FALCON PROPERTY: OVERVIEW 12 claims, >42,000 hectares • 100% ownership of 2 claims (blue outline) • Option to earn up to 100% on 10 claims by October 2027 from Skyharbour Resources Ltd. (green outline) • Exploration Agreement with the English River First Nation in place • Valid drilling permit in pl
Slide 13: Falcon Property: 2024 Drill Campaign
FALCON PROPERTY: 2024 DRILL CAMPAIGN North Shore Drill Campaign • 3 targets drilled in March 2024 • Near surface uranium mineralization identified at P03 and P08, P12 abandoned • See news release dated May 16, 2024 for detailed drill results P03 Sample Results 1) NAR=no anomalous results, anomalous
Slide 14: Falcon: Target Selection and Prioritization
FALCON: TARGET SELECTION AND PRIORITIZATION • Targets prioritized into “zones” by integrating multiple datasets • Key target prioritization criteria include: • Character of EM conductor • Structural interpretation • Proximity to known uranium mineralization • 30 targets identified including 11 prior
Slide 15: Falcon: South Priority Area
FALCON: SOUTH PRIORITY AREA • Uranium discovered in 2024 at P03 and P08 (targets FA033 and FA006) • 3 intervals with >300 ppm U3O8 • A 3 km EM conductor trend that includes P03 and P08 is a priority for future drilling, including FA003 where the EM conductor system and an associated magnetic low are
Slide 16: West Bear Property: Overview
WEST BEAR PROPERTY: OVERVIEW UEX/UEC Deposits Co-Ni Mineral Resource* • 0.295 Mt 4 claims, approx. 4,000 hectares • 3.8 M lb. Co @ 0.58% • 3.2 M lb. Ni @ 0.49% ● Eastern edge of the Athabasca basin U probable Mineral near a uranium Mineral Reserve and UEX/UEC Reserve** West Bear • 72,374 Mt @ 0.94%
Slide 17: West Bear: Previous Work
WEST BEAR: PREVIOUS WORK Drilling history on 4 claims (15 holes) ● 1968: Gulf (1) ● 1977: Conwest (4) ● 1978: Conwest (5) ● Denison Mines: 2007 (2), 2015 (3) ● North Shore’s top 3 priority targets are along the western edge of the claim block within the Basin ● No previous drilling there Drill holes
Slide 18: Thank You
THANK YOU For more information please contact: Brooke Clements President and CEO Unit 1 – 15782 Marine Drive White Rock, B.C V4B 1E6 CANADA +1 604-984-1245 b.clements@northshoreuranium.com www.northshoreuranium.com Falcon property Target FA025 18 NORTH SHORE URANIUM LTD.
Slide 19: Appendix A: Phase 1 Drill Program Results
APPENDIX A: PHASE 1 DRILL PROGRAM RESULTS *Cutoff grade of 0.02% eU3O8 and a minimum grade x thickness of 0.30. Westwater Canyon member intervals with less than 0.30 grade x thickness are not included in table. All intersections are assumed to be true widths given the vertical holes and the interpre
Slide 20: Appendix B: Rio Puerco Option Agreement Terms
APPENDIX B: RIO PUERCO OPTION AGREEMENT TERMS Highlights of the Rio Puerco Option Agreement • North Shore option to earn up to an 87.5% interest in Rio Puerco from Resurrection Mining LLC (“Resurrection”) over a five-year term • Milestone 1: $125,000 cash payment and issuance of 7,483,000 common sha
Slide 21: Appendix C: Historical Resource Estimate
APPENDIX C: HISTORICAL RESOURCE ESTIMATE Limitations of Historical Resource Estimates The Historical Resource at Rio Puerco outlined in this presentation has not been verified and should not be relied upon. Neither North Shore nor its Qualified Person Brooke Clements have done sufficient work to upg
Slide 22: Appendix D: QP Statement and Data Verification
APPENDIX D: QP STATEMENT AND DATA VERIFICATION Mr. Brooke Clements, MSc, P.Geol., a Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects and the President and CEO of North Shore, has reviewed and approved the scientific and technical disclosure in
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