Resumption Of Drilling At Kaycee ISR Uranium Project

VANCOUVER - Nuclear Fuels Inc. has mobilized two drills for the second phase of its 200 hole drill program at the Kaycee Project in Wyoming's Powder River Basin. In 2023, 89 drill holes were completed. Drilling in 2024 will continue to expand historic uranium mineralization at depth and expand mineralization along trend and on other high priority targets identified. The Company is focused on the exploration and exploitation for In-Situ Recovery (ISR) uranium resources. ISR technology extracts uranium in a non-invasive process using natural groundwater and oxygen, and a proven ion exchange process, for uranium recovery

Phase 1 drilling in 2023 successfully confirmed and expanded historic resources returning grades ranging from trace to 6.5 feet at 0.187% U3O8(Gamma log) with a grade thickness of 1.216. In 2024, Phase 2 drilling will commence with 111 permitted drill sites designed to expand the areas drilled in 2023 and define new mineralized zones along trend. Based on the success of the 2023 drilling, an amendment to our drill permit has been filed to significantly expand the target area for drilling and increase the number of drill sites. This work continues to build our Kaycee ISR focused project base as well as advancing the Bootheel project in Albany County, Wyoming.

Michael Collins, Chief Executive Officer, said, "We are in a long-term demand driven uranium cycle. The Kaycee Project provides a great opportunity to grow an economic ISR uranium resources in one of the most prolific ISR amenable sandstone hosted uranium basins in the US. We look forward to a successful year at both Kaycee and our wider Wyoming uranium project portfolio.”