Global Uranium Provides Update on the Northwest Athabasca Joint Venture Project Drilling Program

 

Global Uranium on Schedule to Commence Drilling in Early March

February 24, 2025

Calgary, Alberta — Global Uranium Corp. (CSE: GURN | OTC: GURFF | FRA: Q3J) (the “Company”) is pleased to provide an update on its drilling program at the Northwest Athabasca (“NWA”) Project, a joint venture with the operator Forum Energy Corp. (the “Operator”), located in northern Saskatchewan. Mobilization efforts are advancing, and the Company remains on track to commence drilling in early March.

The project site is progressing efficiently, with the team actively managing logistics to ensure smooth operations. The Operator has arranged air transport for personnel and key materials, with the first flight set to arrive in a few days. Heavier equipment and additional supplies will be delivered as needed. On-site preparation is advancing well, with a strong focus on establishing the airstrip and camp to support ongoing operations. Strategic planning is in place to maintain steady progress, keeping the drilling program on track and moving forward successfully.

The Company has refined its drilling targets based on recently reprocessed geophysical data. The first drill target is readily accessible, and additional geophysical survey results are expected to further enhance targeting. A resistivity survey contract is currently being finalized, with data collection expected to take approximately 2-to-3 weeks. Drilling operations are anticipated to begin in early-March, weather permitting.

“We are pleased with the steady progress at the Northwest Athabasca Project as we move toward the launch of our winter drill program. The team has done an excellent job managing logistics and ensuring a smooth mobilization process, keeping us on track to begin drilling in early March,” said, Ungad Chadda, CEO of Global Uranium. “Refining our drill targets based on reprocessed geophysical data has further strengthened our approach, and we are confident that the upcoming resistivity survey will provide additional valuable insights.”

With mobilization progressing and key logistical challenges being addressed, the NWA Project is well-positioned for the winter drill program. The Company looks forward to updating investors as drilling commences and further exploration results become available.

Qualified Person

Jared Suchan, Ph.D., P.Geo., Global Uranium’s Vice President of Exploration and Qualified Person under National Instrument 43-101, has reviewed and approved the contents of this news release.

About Global Uranium Corp.

Global Uranium Corp. focuses on exploring and developing uranium assets primarily in North America. The Company currently holds key uranium projects: the Wing Lake Property in the Mudjatik Domain of Northern Saskatchewan, Canada; the Northwest Athabasca Joint Venture with Forum Energy Metals Corp. and NexGen Energy Ltd. in the Northwest Athabasca region of Saskatchewan, Canada; and the Great Divide Basin District Projects, the Gas Hills District Projects, and the Copper Mountain District Projects in Wyoming, USA.

On Behalf of The Management Team

Ungad Chadda

CEO

587-330-0045

info@globaluranium.com

 

Forward-Looking Statements

Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company’s current belief or assumptions as to the outcome and timing of such future events. In particular, this press release contains forward-looking information relating to, among other things, the  intention to continue exploration efforts on the Project with the aim of further unlocking the Project’s potential; and the expectation that natural attenuation will allow the site to recover without further action.

Although forward-looking information is based on the reasonable assumptions of the Company’s management, there can be no assurance that any forward-looking information will prove to be accurate. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include the risk that exploration of the Project may not continue, whether as a result of a lack of financial resources, a failure to receive the requisite permits or approvals, the discretion of management of the joint venture or otherwise; the risk that exploration of the Project will not progress as currently contemplated and, that, even if exploration does proceed as anticipated, such exploration activities may not achieve their anticipated outcomes; risks inherent in the exploration and development of mineral projects, including risks relating to receiving requisite permits and approvals, changes in project parameters or delays as plans continue to be redefined, that mineral exploration is inherently uncertain and that the results of mineral exploration may not be indicative of the actual geology or mineralization of a project; the risk that mineral exploration may be unsuccessful or fail to achieve the results anticipated by the Company; risks related to joint ventures and the other risks and factors identified by the Company in its continuous disclosure filings, filed on the Company’s SEDAR+ profile at www.sedarplus.ca. 

The forward-looking information contained in this release is made as of the date hereof, and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein. 

The Canadian Securities Exchange has not reviewed, approved, or disapproved the contents of this press release.