FULLY FUNDED $2M PROGRAM LAUNCHES IN WORLD’S PREMIER URANIUM DISTRICT
VANCOUVER, BC / ACCESS Newswire / May 26, 2026 / UraniumX Discovery Corp. (CSE:STMN)(OTCQB:STMXF)(FSE:Q7S) (“UraniumX” or the “Company“) is pleased to announce the commencement of diamond drilling at its flagship Murphy Lake Property (the “Property“) in the Athabasca Basin, Saskatchewan – the world’s premier uranium jurisdiction. Operator F4 Uranium Corp. (TSXV: FFU) (“F4“) is directing the program. The program is fully funded with ~$2 million. The program represents UraniumX’s most significant exploration commitment to date and targets all five priority areas identified by the Company’s recently completed moving loop electromagnetic (“MLEM“) geophysical survey.
The 2022 maiden drill program at Murphy Lake delivered the potential proof of concept as a working uranium system. Drill hole ML22-006 intersected 0.065% U₃O₈ over 2.5 metres, including 0.242% U₃O₈ over 0.5 metres, within a 4.2-metre-wide basement deformation zone at the unconformity contact. Drill hole ML22-012, 1.4 kilometres to the north of the Property, returned 56 ppm uranium in sandstone above the unconformity. Across the Property, the program confirmed the full suite of discovery indicators – clay, hematite, and limonite alteration patterns, basement-hosted graphitic shears, and anomalous radioactivity.
UraniumX is building on the 2022 maiden drill program and commissioned the MLEM survey that extended and refined the conductor framework across the Property by 1.45 kilometres and vectored five priority target areas (see news release dated May 5, 2026). The drill program now underway will test the target areas.
Within five kilometres of the Property, neighbours have delivered some of the most significant uranium drill results:
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5 km – IsoEnergy’s Hurricane Deposit: just reported 11.61% U₃O₈ over 1.0 m (4.21% over 3.5 m) on the Hurricane South Trend – extending the world’s highest-grade indicated uranium resource beyond its existing footprint. Murphy Lake sits on the same structural trend (IsoEnergy news release dated May 12, 2026).
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4 km south – Cosa Resources’ Murphy Lake North Project: hole MLN26-013 cut 5.0 metres of anomalous radioactivity peaking at 13,900 cps on the Cyclone structural trend – the same basement architecture that runs through Murphy Lake. (Cosa news release dated March 24, 2026).
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4 km east – Cameco’s La Rocque Lake Uranium Zone: 29.9% U₃O₈ over 7.0 metres (Cameco Corporation 2023 Annual Information Form, dated March 22, 2024) – world-class grades from one of the world’s largest uranium producers, immediately adjacent to Murphy Lake ground. Murphy Lake is also 30 km northwest of Orano’s McClean Lake milling operations.
Drilling at the Property will begin in Target Area 1, in the northern zone near historic hole ML22-012, where the 2022 sandstone uranium intercept points to the underlying unconformity (see Figure 1).
Figure 1. Spring 2026 Drill Targets
Esen Boldkhuu, Chief Executive Officer of UraniumX, commented: “The 2022 program gave us uranium mineralization and strong alteration indicators. The MLEM survey provided us with five drill-ready targets. And now our neighbours – IsoEnergy and Cosa – have delivered a wave of world-class results within five kilometres of our property. We believe that we are in the right place, with the right operator, at the right time.”
Track the drill program in real time via the interactive exploration map at www.uraniumx.ca/explore
About Murphy Lake
The 609 hectare Murphy Lake Property is located in the northeastern Athabasca Basin, approximately 30 km northwest of Orano’s McClean Lake deposits, 5 km south of IsoEnergy Ltd.’s (TSX: ISO) Hurricane Deposit, 4 km from the Cosa Resources (TSXV: COSA) Cyclone structural trend, and 4 km east of Cameco Corporation’s (TSX: CCO) La Rocque Lake Uranium Zone. F4’s 2022 maiden drill program at the Property comprised 14 drill holes totaling 6,850 metres and confirmed a geological setting consistent with the unconformity-hosted uranium deposit model that characterizes the major deposits in the eastern Athabasca Basin.
For additional information on the Murphy Lake Property, please refer to the National Instrument 43-101 Report titled “Technical Report For The Murphy Lake Project, NE Athabasca Basin, Saskatchewan, Canada” effective March 20, 2024, available at www.sedarplus.ca.
This news release also refers to neighboring properties in which UraniumX has no interest, and the Qualified Person has not independently verified the information from those properties. Mineralization on those neighboring properties is not necessarily indicative of mineralization on the Murphy Lake Property.
Qualified Person
The scientific and technical information in this news release has been reviewed and approved by Ken Wheatley, P.Geo., Director of Exploration of the Company and a Qualified Person as defined under National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
About UraniumX
UraniumX Discovery Corp. is a Canadian based junior uranium exploration company focused on advancing uranium properties in Saskatchewan’s Athabasca Basin, one of Canada’s most active uranium districts. The Company’s flagship Murphy Lake Uranium Property is located in the northeastern Athabasca Basin, where UraniumX is earning up to a 70% interest through an option agreement with F4 Uranium Corp. UraniumX additionally holds 100% interests in the Zoo Bay and NeoCore uranium properties, and is advancing a project generator approach across its broader portfolio by optioning non-core assets while retaining royalties and equity, allowing the Company to concentrate exploration capital on Murphy Lake.
On Behalf of UraniumX Discovery Corp.
Esen Boldkhuu, CEO
Contact:
UraniumX Discovery Corp.
Esen Boldkhuu, CEO
Email: info@uraniumx.ca
Telephone: (604) 377-8994
Website: www.uraniumx.ca
Forward Looking Statements
This news release contains “forward-looking information” and “forward-looking statements” within the meaning of applicable Canadian securities laws (collectively, “forward-looking statements”). All statements, other than statements of historical fact, that address events, conditions, or developments the Company expects or anticipates may occur are forward-looking statements. Forward-looking statements in this news release include, but are not limited to, statements regarding the drill program at the Murphy Lake Uranium Property, the size, scope, sequencing, and anticipated results of such program, the interpretation and significance of geophysical survey results and historical drill results, the Company’s option agreement with F4 Uranium Corp. and its ability to earn up to a 70% interest in the Property, the Company’s project generator approach, and the Company’s future plans, objectives, and exploration activities.
Forward-looking statements are based on reasonable assumptions, estimates, and opinions of management as of the date hereof and are subject to known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially from those expressed or implied by such forward-looking statements. These factors include, but are not limited to, risks related to mineral exploration and development activities, the ability to obtain required permits, commodity price volatility, weather and seasonal conditions, reliance on key personnel, reliance on the operator of the drill program, and other risks described in the Company’s public disclosure documents available on SEDAR+ at www.sedarplus.ca.
Readers are cautioned not to place undue reliance on forward-looking statements. Except as required by applicable securities laws, the Company undertakes no obligation to update or revise any forward-looking statements.
The CSE has neither approved nor disapproved the contents of this news release. Neither the CSE nor its regulation services provider accepts responsibility for the adequacy or accuracy of this release.
SOURCE: UraniumX Discovery Corp.
View the original press release on ACCESS Newswire
