Mr. Dev Randhawa reports

F3 ISSUES SHARES FOR INTEREST DEBT SETTLEMENT

Pursuant to its previously announced financing with Denison Mines Corp. from October, 2023, F3 Uranium Corp. has elected to settle a portion of the interest owed to date in common shares.

The payment to Denison will consist of $225,000 in cash and a total of 562,500 common shares of the corporation at a deemed value of 20.0 cents per share.

Terms of the debenture

The debenture carries a 9-per-cent coupon, payable quarterly, has a maturity date of Oct. 18, 2028, and is convertible at Denison's option into common shares of the company at a conversion price of 56 cents per share. F3, at its sole discretion, may pay up to one-third of the interest in common shares of F3 issued at a price per common share equal to the volume-weighted average trading price of F3's common shares on the TSX Venture Exchange for the 20 trading days ending on the day prior to the date on which such payment of interest is due. Full details of the debenture are noted in the press releases of Oct. 6 and Oct. 18, 2023.

All securities issued pursuant to the debt settlement are subject to the approval of the TSX Venture Exchange and, when issued, a statutory hold period in Canada expiring four months and one day from the date of issuance.

The shares-for-debt transaction was approved by the company's board of directors pursuant to the terms of the debenture and did not require a formal valuation nor minority shareholder approval pursuant to Multilateral Instrument 61-101.

About F3 Uranium Corp.

F3 Uranium is a uranium exploration company advancing its newly discovered high-grade JR zone and exploring for additional mineralized zones on its 100-per-cent-owned Patterson Lake North property in the southwestern Athabasca basin. F3 Uranium currently has three properties in the Athabasca basin: PLN, Minto and Broach. PLN is accessed by Provincial Highway 955, which transects the property, and the new JR zone discovery is located approximately 25 kilometres northwest of the Patterson Lake area, host to Paladin Energy's Triple R and NexGen Energy's Arrow high-grade uranium deposits and poised to become the next major area of development for uranium operations in Northern Saskatchewan. Fission Uranium, which discovered the Triple R deposit, was acquired by Paladin Energy in a merger inked in June, 2024, for an implied total equity value of $1.14-billion.

The company's management, headed up by Dev Randhawa as chief executive officer and chairman, Raymond Ashley as president, and Sam Hartmann as vice-president, exploration, is the serially successful team that founded Fission Uranium in 2012 and made the Triple R discovery at Patterson Lake South. Previous to that, the same team founded Fission Energy, making the J-Zone discovery at Waterbury Lake in the eastern Athabasca basin, and built Fission Energy into a TSX Venture 50 company.

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