VANCOUVER, British Columbia, Sept. 02, 2025 (GLOBE NEWSWIRE) -- Blast Resources Inc. (“Blast” or the “Company”) (CSE: BLST | FSE: O0E) is pleased to announce that it has contracted Mr. Steven R. McMullen to complete a Technical Report (the “Report”) in accordance with National Instrument 43-101 on its 100% owned Wales Lake South Project (“Project”) located in the highly prospective southwestern Athabasca Basin region of northern Saskatchewan, Canada. Mr. McMullan has world-wide experience in mineral exploration and is a Registered Professional Geoscientist (P.Geo) in Saskatchewan and a Qualified Person under NI43-101 definition.

The purpose of the Report is to provide a comprehensive update on the Wales Lake South Uranium Project including all available historical data that the Company has gathered, in addition to newly acquired Airborne Magnetic Survey data and sampling information from 2024. The Report will offer valuable insights by compiling existing data, previous work, and new technology to better guide future programs.

Gary Claytens, Chief Executive Officer of the Company, commented, “Announcing our company’s intent to complete a technical report on our Wales Lake Project represents a pivotal moment in our development. We’re excited to have contracted Professional Geoscientist Mr. Steven R. McMullen who is expected to complete the Technical Report utilizing historical data and newly obtained data from our Airborne Magnetic Survey. Moving forward, we’re eager to drive advancement and future exploration at our project located in the world class Athabasca Basin.”

The Wales Lake Project includes three claim blocks—Britt Lake, Brazier South, and North Agar—encompassing roughly 35,440 hectares. Situated in the Taltson Domain, the project features intricate geological structures ideal for basement-hosted uranium deposits, comparable to those at Arrow (NexGen), Triple R (Fission), and Rabbit Lake (Cameco). It lies approximately 1.5 kilometres west of Provincial Highway 955, an all-season gravel road linking La Loche to the former Cluff Lake uranium mine, with access to the western section provided by established bush roads and trails.

The Company has granted an aggregate of 100,000 stock options to a consultant of the Company pursuant to its omnibus equity incentive plan. The stock options are exercisable at a price of $0.25 per share and expire three years from the date of grant. 100% of the stock options vest immediately. 

Qualified Person Statement

The scientific and technical information contained in this news release was prepared and approved by Locke Goldsmith, M.Sc., P.Eng., P. Geo., who is a Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

About Blast Resources Inc.

Blast Resources (CSE: BLST) is a mineral exploration company trading on the Canadian Securities Exchange. The Company is currently focused on exploration at its flagship Wales Lake Uranium Project.

Situated south of Wales Lake and positioned just outside the southwest margin of the Athabasca Basin, the Project is strategically located within the Patterson Lake Corridor which hosts two significant uranium deposits (Triple R Deposit, 2.2 Mt @ 1.58 U308 and 0.51 g/t Au & the Arrow Deposit which is the largest source of low-cost uranium globally, delivering up to 30 million pounds of high-grade uranium per year). The deposits represent one of the largest high-grade uranium systems globally, comparable to world-class deposits such as McArthur River, Cigar Lake, and Key Lake.

ON BEHALF OF THE BOARD

Gary Claytens
President and CEO

For further information, please contact:
E-mail: info@blastresources.com
Website: www.blastresources.com 

Forward-Looking Statement (Safe Harbor Statement):

This press release contains forward looking statements within the meaning of applicable securities laws. The use of any of the words “anticipate”, “plan”, “continue”, “expect”, “estimate”, “objective”, “intends” “may”, “will”, “project”, “should”, “predict”, “potential” and similar expressions are intended to identify forward looking statements. In particular, this press release contains forward looking statements concerning the completion of the debt settlement.

Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company cannot give any assurance that they will prove correct. Since forward looking statements address future events and conditions, they involve inherent assumptions, risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of assumptions, factors and risks. These assumptions and risks include, but are not limited to, assumptions and risks associated with mineral exploration generally and results from anticipated and proposed exploration programs, conditions in the equity financing markets, and assumptions and risks regarding receipt of regulatory and shareholder approvals.

Management has provided the above summary of risks and assumptions related to forward looking statements in this press release in order to provide readers with a more comprehensive perspective on the Company’s future operations. The Company’s actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits the Company will derive from them. These forward-looking statements are made as of the date of this press release, and, other than as required by applicable securities laws, the Company disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise.

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