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Blast Resources Inc
Symbol BLST
Shares Issued 29,795,197
Close 2026-09-17 C$ 0.35
Market Cap C$ 10,428,319
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Blast identifies tectonic break at Wales Lake

2026-09-17 19:14 ET - News Release

Mr. Casey Forward reports

BLAST RESOURCES REVIEWS TECTONIC BREAK AT THE WALES LAKE URANIUM PROJECT IN THE ATHABASCA BASIN REGION, SASKATCHEWAN

Blast Resources Inc. has identified a prominent interpreted tectonic break extending through the company's Wales Lake, Brazier South and Britts Lake claim groups. The claims are situated predominantly east of the Clearwater domain, within the broader regional setting that hosts the Triple R and Arrow uranium deposits and other recent uranium discoveries. Geological research has proposed that radiogenic heat generated by granitic rocks of the Clearwater domain may have supported prolonged circulation of hydrothermal fluids along structural corridors, contributing to the mobilization and concentration of uranium within the region. The interpreted tectonic break underlying the Blast claim groups may have provided a pathway for fluid movement, allowing the circulation and mixing of potentially uranium-bearing fluids. This feature represents an important focus for continued geological and geophysical exploration.

Casey Forward, chief executive officer and director of the company, commented: "We're very excited to discuss the geological importance of the tectonic break at the Wales Lake uranium project. The tectonic break extends through two of our claims, providing the company with ample opportunity to further explore its potential. We are thrilled to drive further advancement in the coming months."

A tectonic break may represent a contact, fault or shear zone between two or more geological plates that have experienced collision, tension or strike slip movement relative to each other. On the Blast property, a significant tectonic break trends northwest to southeast, extending approximately 10 kilometres through claims MC00016517 to MC00016514. Within the Wales Lake uranium project claims, this tectonic break is situated in bedrock and may not be visible at the surface. This break coincides with a magnetic low anomaly identified from the 2024 magnetic survey that was completed on the property and runs roughly parallel to electromagnetic conductors identified from a historical VTEM survey, both of which are key features in the Athabasca uranium model. Electromagnetic conductors coincident with magnetic lows are interpreted to represent graphitic faults, which may serve as pathways for mineralizing fluids. Such graphitic faults may also provide the accommodation space and reducing conditions needed to trap and precipitate uranium.

Qualified person statement

The scientific and technical information contained in this news release was prepared and approved by Andy Yackulic, PGeo, who is a qualified person as defined by National Instrument 43-101 (Standards of Disclosure for Mineral Projects).

About Blast Resources Inc.

Blast Resources 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 of the southwestern margin of the Athabasca basin, the project is strategically located within the Patterson Lake corridor, which hosts two significant uranium deposits: Paladin's Triple R deposit and NexGen's Arrow deposit. The presence of these large, high-grade deposits and other recent high-grade uranium discoveries within the Patterson Lake corridor suggest that the PLC may represent one of the largest high-grade uranium systems in the world.

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