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North Shore Uranium Ltd
Symbol NSU
Shares Issued 88,908,730
Close 2026-08-12 C$ 0.21
Market Cap C$ 18,670,833
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North Shore Uranium completes phase 1 drilling at RP

2026-08-13 11:38 ET - News Release

Mr. Brooke Clements reports

NORTH SHORE COMPLETES PHASE 1 DRILLING AT RIO PUERCO

North Shore Uranium Ltd. has completed phase 1 of its first drill program at the Rio Puerco uranium project in the Grants uranium district of northwestern New Mexico. The company completed 13 rotary drill holes totalling 2,828 metres (9,274 feet).

North Shore is now analyzing the results from phase 1 and intends to return to the project in Q4 2026 for phase 2 of the drill program, after the summer monsoon season. The results from phase 1 will further inform the confirmation of targets for phase 2. North Shore has the necessary permits to drill up to 26 holes totalling approximately 5,975 m (19,600 ft.).

Brooke Clements, president and chief executive officer of North Shore, stated: "We are excited to complete the first significant drilling at Rio Puerco since the 1970s. We are now analyzing the results from the program and look forward to reporting them in the near future. New Mexico is a great place to work. With its rich uranium mining history and a number of established uranium resources, we think that the state has the potential to become a leader in the USA's push to produce more uranium in the future."

Details of the proposed 2026 drill program and a summary of the known uranium mineralization and work history at Rio Puerco were reported by the company on April 9, 2026.

The main objective of the current drill program is to begin validating and further evaluating historical exploration data generated by the Kerr-McGee Mining Corp. in the 1960s and 1970s. Each of the sites selected for drilling by the company in 2026 is a "twin" of a mud rotary hole drilled by Kerr-McGee where uranium mineralization was identified using a gamma ray probe. In addition, twin confirmation core holes were also drilled by Kerr-McGee at three of the 13 sites drilled by North Shore in phase 1.

At each of the 13 sites, a 14.6-centimetre (5.75-inch) vertical mud rotary hole was drilled by Harris Exploration Drilling and Associates. Samples collected at 1.5 m (4.9 ft) intervals were logged by a supervising geologist for lithology, colour and texture, and scintillometer readings were taken to measure radioactivity. Select samples were submitted for assay and representative samples were retained in chip trays for future reference. Upon completion of each drill hole, a downhole geophysical survey was completed by Century Geophysical Corp. using a calibrated multiparameter logging tool. Natural gamma ray, resistivity and spontaneous potential (SP) measurements were taken at 0.1-foot (three cm) intervals over the entire length of the drill hole. Downhole deviation measurements were also taken at 20 foot (6.1 m) intervals. The gamma ray data is used for uranium grade estimation (eU3O8) of the drill hole and resistivity provides useful information for geologic interpretation and correlation of the different sedimentary layers. Logging speeds were optimized to collect high-quality natural gamma data. Actual uranium grades may ultimately vary from the eU3O8 grades. After the downhole survey was completed, the hole was grouted with cement and the site was reclaimed. Drill holes RP-26-18-96 and RP-26-18-39 at Rio Puerco in July, 2026.

Qualified person

Brooke Clements, MSc, PGeol, a qualified person as defined by National Instrument 43-101 -- Standards of Disclosure for Mineral Projects and the president and CEO of North Shore, has reviewed and approved of the scientific and technical disclosure in this press release and has reviewed and verified the supporting technical information disclosed in this news release. The drill program was managed in the field by Chris Longton, principal geologist with Rangefront Mining Services, with support from Mr. Clements. Mr. Longton is also a qualified person as defined by National Instrument 43-101 -- Standards of Disclosure for Mineral Projects.

About North Shore Uranium Ltd.

The nuclear power industry is undergoing increased development to meet CO2 (carbon dioxide) emission-reduction goals and the needs of new power-intensive technologies like AI (artificial intelligence). In this environment, discoveries of uranium deposits may be significant, especially in established uranium-producing jurisdictions like Saskatchewan and New Mexico. North Shore is focused on advancing exploration for uranium deposits at Rio Puerco in the Grants uranium district of New Mexico, and its Falcon and West Bear properties at the eastern margin of the Athabasca basin in Saskatchewan. In addition, the company continues to evaluate quality opportunities in the United States and Canada to complement its portfolio of uranium properties.

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