Mr. Raymond Ashley reports

F4 AND URANIUMX COMMENCE DRILLING AT MURPHY LAKE

Drilling has commenced at the Murphy Lake property in the Athabasca basin, Saskatchewan. F4 Uranium Corp. is the operator, and the approximately $2-million program is fully financed by UraniumX Discovery Corp. under the existing option agreement.

The approximately 2,500-metre drill program builds directly on the foundational 2022 maiden drilling, which completed the early legwork and identified a fertile uranium system through strong geochemistry, alteration and anomalous radioactivity. The team is now vectoring into high-priority targets with strong potential for higher-grade uranium.

Strategic location highlights of Murphy Lake

• Five km south of IsoEnergy's world-class Hurricane deposit, the highest-grade uranium deposit in the world;
• Four km south of Cosa Resources' Murphy Lake North project, where MLN26-013 intersected 5.0 metres of anomalous radioactivity up to 13,900 CPS (counts per second) at the Cyclone trend;
• Four km east of Cameco's La Rocque Lake uranium zone (29.9 per cent U3O8 (triuranium octoxide) over 7.0 m in hole Q22-040) and 30 kilometres northwest of Orano's McLean Lake deposits.

Recent partner-financed moving loop electromagnetic (MLEM) surveying extended key conductors, refining up to five target areas (see news release dated May 5, 2026).

Results guiding current targeting

• ML22-006: 0.065 per cent U3O8 over 2.5 m (including 0.242 per cent U3O8 over 0.5 m) within a 4.2 m graphitic deformation zone and intense alteration;
• ML22-012 (1.4 km north): 56 ppm (parts per million) U in sandstone immediately above the unconformity;
• 2026 MLEM survey: extended the key conductive trends, significantly enlarging and refining up to five initial target areas, including along strike from the 2022 mineralized intercepts. Following the initial interpretation announced on May 5, 2026 (which extended key conductive trends), further detailed modelling has produced an updated EM model.

This drill program will begin with targeting the northern corridor around historic hole ML22-012 in Target Area 1.

"We're now drilling the targets generated by our strong 2022 results and the recent MLEM survey," said Erik Sehn, vice-president, exploration. "The 2022 work including ground EM and resistivity and provides the critical groundwork -- confirming anomalous radioactivity, very strong uranium geochemistry in both basement and sandstone, favourable alteration, and basement-hosted graphitic shears. Combined with the new geophysical extensions and the exciting recent activity in the immediate Hurricane neighbourhood, we are well positioned to test for higher-grade extensions in this highly prospective setting."

The Murphy Lake work program is financed by UraniumX Discovery Corp. in accordance with the option agreement to earn up to a 70-per-cent interest (see news release dated Feb. 2, 2026).

About Murphy Lake

F4's 609-hectare Murphy Lake property is located in the northeastern corner of the Athabasca basin, 30 km northwest of Orano's McLean Lake deposits, five km south of ISOEnergy's Hurricane uranium deposit and four km east of Cameco's La Rocque Lake uranium zone where drill hole Q22-040 intersected 29.9 per cent U3O8 over 7.0 m. The 2022 maiden drill program at the Murphy Lake property consisted of 14 completed drill holes totalling 6,850 m; drill hole ML22-006 intersected 0.065 per cent U3O8 over 2.5 m from 322.5 m to 324.5 m, including 0.242 per cent U3O8 over 0.5 m.

Marketing agreement

The company also announces that it has agreed for Connect 4 Marketing Ltd. to provide additional marketing services during the initial two-month term referenced in the March 31, 2026, news release, for a fee of $50,000. In addition, subject to the approval of the TSX Venture Exchange, the company and Connect4 have mutually agreed to extend the marketing services for a further three-month period for total consideration of up to $150,000, plus applicable taxes. The next payment is due within 30 days. The digital marketing services to be provided by Connect4 to the company consist of comprehensive digital marketing including content creation (videos ad creatives, landing pages), influencer management, newsletter co-ordination, and targeted advertising campaigns in both English and German markets.

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 operation officer of F4, and 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 Murphy Lake property.

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 SEDAR+.

About F4 Uranium Corp.

F4 Uranium is a Canadian uranium exploration company focused on the Athabasca basin in Northern Saskatchewan, and the latest uranium explorer, led by the same management and exploration team with a legacy of discovery successes. The project portfolio includes 16 wholly owned properties totaling roughly 157,000 ha, many of which are near uranium deposits including Paladin's Triple R, Nexgen Energy's Arrow and IsoEnergy's Hurricane projects. The assets were spun out of F3 Uranium in 2024, where the technical and management team made their third, and more recently fourth uranium discoveries at Patterson Lake North and Broach Lake. F4's core focus will be split between the west and east sides of the Athabasca basin as the company is establishing itself as an explorer and project generator providing shareholders renewed exposure at an early stage.

We seek Safe Harbor.