Mr. Raymond Ashley reports

F4 BEGINS SEARCH FOR RADIOACTIVE BOULDERS AT TODD AND WALES LAKE

F4 Uranium Corp. has commenced the first ever high-resolution airborne radiometric survey flown over its 100-per-cent-owned Todd Lake and Wales Lake projects in the southwestern Athabasca basin region of Saskatchewan. The objective is to locate radioactive boulders or boulder trains at surface -- the exact exploration approach that led to the discovery of the Patterson Lake South mineralized boulder train and, ultimately, Paladin Energy's Triple R deposit, 13 kilometres east of the Todd Lake property.

The survey will be completed by Ramp Geological Services Inc. using its proprietary helicopter-borne Ramp-HD radiometric system and will cover approximately 3,850 line kilometres across the two projects.

The survey is carefully configured to identify any radiometric anomalies that may correspond to radioactive and ultimately uranium-bearing boulders on or near surface. Throughout the Athabasca basin, radioactive boulders have proved to be valuable exploration vectors that can point toward previously undiscovered uranium mineralization. The most relevant and latest example is the discovery of Paladin Energy's Triple R uranium deposit located approximately 13 km east of the Todd Lake property. In 2009, an airborne radiometric spectrometer survey flown by joint venture partners Fission Energy Corp. and ESO Uranium Corp. (later Alpha Minerals Inc.), whose Patterson Lake South interests are held by Paladin Energy, identified numerous radiometric anomalies, and ground follow-up prospecting ultimately confirmed them to be a field of high-grade uranium-bearing glacial boulders (see feasibility study, National Instrument 43-101 technical report, for PLS property, 2023). The discovery of the radioactive boulder field in the Patterson Lake area prompted extensive follow-up exploration including geophysics and glacial interpretation, which ultimately led to the discovery of the Triple R uranium deposit.

F4 believes similarly transported boulders may exist on its Todd and Wales Lake properties, and locating any new boulders or boulder trains could provide an important exploration vector toward uranium mineralization at source. The Todd and Wales Lake projects occupy a highly prospective position immediately west of several of the Athabasca basin's most significant recent uranium discoveries -- NexGen Energy's Arrow deposit and Paladin Energy's Triple R deposit -- as well as new discoveries including NexGen Energy's PCE and Paladin Energy's Saloon and Atlas. The Patterson Lake corridor, which hosts the Arrow and Triple R deposits, is interpreted to project toward the Todd Lake property and may continue toward Wales Lake (see news release dated June 2, 2026).

Following completion of the airborne survey, F4 intends to integrate the radiometric results with existing geomorphological data sets to prioritize targets for ground follow-up. Initially a ground prospecting program will follow, with crews using hand-held gamma-ray spectrometers to investigate any radiometric hot spots identified by the survey and to confirm and sample uranium-bearing boulders.

Erik Sehn, PGeo, vice-president, exploration, commented: "Tracing radioactive boulders back to their source is one of the oldest tricks in Athabasca exploration and is just as relevant today. Key Lake, a high-grade uranium mine on the southeastern rim of the Athabasca basin, began with pitchblende boulders in glacial debris that were followed back up ice to the orebody, and Patterson Lake South was found the same way four decades later. Airborne radiometrics has never been flown over Todd or Wales Lake, so we are looking at this ground properly for the first time and it sits immediately west of the Patterson Lake corridor and the parallel Saloon trend. Both projects sit just outside the edge of the Athabasca basin, where prospective basement rock lies directly beneath glacial overburden rather than under hundreds of metres of sandstone cover, so mineralization at the top of bedrock can be plucked up by the ice and dispersed as boulders. If uranium-bearing boulders are sitting out there, this survey is how we find them -- and every boulder gives us a trail to follow back to source."

Appointment of Sonia Graham as chief financial officer

The company is also pleased to announce the appointment of Sonia Graham as chief financial officer of the company, effective Aug. 1, 2026. Ms. Graham brings more than 20 years of senior finance leadership experience in financial reporting, corporate governance, capital markets and regulatory compliance, including extensive experience with Securities and Exchange Commission, Nasdaq, Toronto Stock Exchange and TSX Venture Exchange reporting. Throughout her career, she has led public company financial reporting, supported initial public offerings, and overseen external audits and securities compliance. She played a pivotal role in Xenon Pharmaceuticals' initial public offering, serving as the designated principal accounting officer and leading the preparation and execution of the company's initial SEC Form S-1 registration statements.

Ms. Graham replaces the company's outgoing chief financial officer, Jeremy Polmear, who resigned from his position, effective Aug. 1, 2026.

Raymond Ashley, PGeo, chief executive officer of the company, commented: "We welcome Sonia, whose proven track record of scaling businesses makes for a powerful addition to our leadership team as we execute our growth strategy. Mr. Polmear was a key contributor in the plan of arrangement, which formed F4, and in its listing on the TSX Venture Exchange. On behalf of the company's board of directors, we wish Jeremy all the best in his future endeavours and thank him for his service, especially during the company's inception."

In connection with her appointment, the company has granted 325,000 restricted share units of the company to Ms. Graham in accordance with the company's fixed equity incentive plan. Each RSU entitles Ms. Graham to receive one common share of the company following the vesting period of the RSUs. The RSUs awarded will vest as to one-third on each of the first, second and third anniversaries of the date of grant.

Further information regarding the plan can be found in the management information circular of the company dated Match 16, 2026, prepared for the company's annual general meeting of shareholders held on April 16, 2026, a copy of which is available under the company's profile on SEDAR+.

About the Wales Lake project

F4 Uranium's 40,113-hectare Wales Lake project consists of the Wales Lake East and Wales Lake West properties, both 100 per cent owned, permitted and drill ready with strong airborne and ground conductor targets. Significantly underexplored with only two historic drill holes, the Wales Lake project is located just outside of the southwestern Athabasca basin, within 25 kilometres of Paladin's Triple R and NexGen Energy's Arrow deposits. A series of recent discoveries including F3 Uranium's JR and Tetra zones, NexGen Energy's PCE occurrence, and Paladin Energy's Saloon area further highlights the uranium discovery potential near the southwestern Athabasca basin.

Wales Lake is accessed by Provincial Highway 955, which transects the property.

About the Todd Lake project

F4 Uranium's 100% owned Todd Lake project is located approximately 13 km southwest of Paladin's Triple R and NexGen Energy's Arrow deposits and lies along trend of the Patterson Lake Corridor, which hosts the aforementioned deposits. Significantly underexplored with no historic drilling, the Todd Lake project is located just outside the southwestern Athabasca basin. A series of recent discoveries including NexGen Energy's PCE occurrence, Paladin Energy's Saloon area and F3 Uranium's JR and Tetra zones, the latter located just four km northeast of the top of Todd Lake, further highlights the uranium discovery potential near the southwestern Athabasca basin. Todd Lake is accessed by Provincial Highway 955, located to the east of the property.

Qualified person

The technical information in this news release has been reviewed and approved on behalf of the company by Sam Hartmann, PGeo, president and chief operating officer of F4, a qualified person as defined by National Instrument 43-101 (Standards of Disclosure for Mineral Projects).

This news release also refers to neighbouring 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 neighbouring properties is not necessarily indicative of mineralization on the Todd or Wales Lake project. For additional information on the Wales Lake project, please refer to the reports titled "Technical Report for the Wales Lake West Property, Northern Saskatchewan, Canada," dated Feb. 3, 2025, and "Technical Report for the Wales Lake East Property, Northern Saskatchewan, Canada," dated May 12, 2025, both available at SEDAR+, and prepared in accordance with National Instrument 43-101.

About F4 Uranium Corp.

F4 Uranium is a Canadian uranium exploration company focused on the Athabasca basin in Northern Saskatchewan, led by the management and exploration team behind multiple uranium discoveries in the basin, including most recently Patterson Lake North and Broach Lake. The project portfolio comprises 17 wholly owned properties totalling approximately 157,000 hectares, several of which sit near established uranium deposits, including Paladin's Triple R, NexGen Energy's Arrow and IsoEnergy's Hurricane. The assets were spun out of F3 Uranium in 2024. F4's exploration program is split between the west and east sides of the Athabasca basin, with the company operating as both an explorer and project generator providing investors early-stage exposure to the basin.

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