F4 Uranium Retains 100% Interest in Hearty Bay
Kelowna, British Columbia--(Newsfile Corp. - July 17, 2026) - F4 Uranium Corp. (TSXV: FFU) ("F4" or the "Company") announces that it has received formal notice of termination dated July 15, 2026 from Traction Uranium Corp. ("Traction") regarding the mineral property option agreement (the "Option Agreement") dated December 9, 2021, as amended on February 28, 2023 and July 22, 2025, relating to the Hearty Bay Property in Saskatchewan's Athabasca Basin.
Pursuant to Section 10.1(b) of the Option Agreement, Traction has voluntarily terminated the agreement. The termination will become effective on July 30, 2026. As a result, F4 will retain 100% ownership of the Hearty Bay Property.
Raymond Ashley, CEO of F4 Uranium, commented:
"We thank Traction for their contributions to the Hearty Bay Project. F4 now holds a 100% interest in this prospective property and will evaluate next steps to advance exploration. We continue to be encouraged by the project's potential and remain focused on discovering the bedrock source of the high-grade mineralized boulder train on Isle Brochet, where assays returned up to 8.23% U₃O₈. Future exploration may be undertaken by the Company independently or in collaboration with a new strategic partner."
About the Hearty Bay Property
The Hearty Bay Property comprises 7 mineral claims totaling 11,173 hectares on the northern margin of the Athabasca Basin in Saskatchewan, located approximately 20 km west of the Fond-du-Lac uranium deposit. The Property is highlighted by the historic Isle Brochet boulder field, including the Wolfe and Jackfish radioactive boulder trains. These trains contain mineralized boulders with historic assays up to 3.54% U₃O₈.
Prospecting by F3 Uranium in 2019 identified 45 new mineralized boulders returning assays of up to 8.23% U₃O₈, with more than 24% of samples exceeding 1% U₃O₈. Recent exploration includes a 14-hole drill program in 2022, subglacial till sampling in 2022-2023, and analysis of 84 till samples in 2024 that identified a uranium dispersal fan and refined ice-flow vectors toward the Athabasca Basin margin.
A gravity survey was also completed to generate new drill targets.
A winter 2024 drill program to test these targets was limited to a single hole due to poor ice conditions, leaving most targets untested.
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 Operating Officer of F4, and a qualified person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects.