Mr. Ross McElroy reports

F3 ISSUES COMMON SHARES DEBT SETTLEMENT OF INTEREST OWED

F3 Uranium Corp. wishes to issue common shares to Denison Mines Corp. pursuant its financing agreement as entered into in October, 2023. Denison has elected to settle a portion of the accrued interest for the past quarter with the acceptance of common shares of F3.

The payment to Denison will consist of a cash payment of $225,000 and a total of 797,872 common shares of F3 with a calculated deemed price of 14.1 cents per share being the 20-day VWAP (volume-weighted average price) of the shares as at Sept. 28, 2026.

Original 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-V 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 is a uranium exploration company, focusing on the high-grade JR zone and new Tetra zone discovery 13 kilometres to the south in the PW area on its Patterson Lake North (PLN) project in the Western Athabasca basin. F3 currently has three properties in the Athabasca basin: Patterson Lake North, Minto and Broach. The western side of the Athabasca basin, Saskatchewan, is home to some of the world's largest high-grade uranium deposits including Paladin's Triple R project and NexGen's Arrow project.

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