Interview with Sam Hartmann, VP Exploration of F3 Uranium Corp.

Our previous interview: https://www.cruxinvestor.com/posts/f3-uranium-tsxvfuu-hitting-50-u3o8-at-flagship-jr-zone-at-athabasca-and-drilling-for-more-6335

Recording date: 13th February 2025

F3 Uranium (TSXV: FUU) is advancing its Patterson Lake North (PLN) uranium project in Saskatchewan's Athabasca Basin, building on its significant 2022 JR Zone discovery. The project gained further momentum in 2024 when drilling intersected 4.5 meters grading 50% U3O8 in hole PLN24-176, marking one of the sector's best drill results for the year.

The JR Zone, a shallow, high-grade uranium deposit, currently extends along a strike length of 150-165 meters. VP Exploration Sam Hartmann highlights that the deposit features an "ultra high-grade core" of approximately 20% U3O8, which typically contains about half of the deposit's pounds - a pattern common in Athabasca Basin deposits.

The company has outlined a comprehensive exploration strategy backed by a $5 million budget for 2025. The program focuses on three main priorities: expanding the JR Zone through step-out and infill drilling, exploring the A1B1 Trend northeast of the JR Zone, and testing new targets along the PW Trend in the southwestern portion of the property.

F3 sees significant exploration potential beyond the JR Zone. According to Hartmann, uranium deposits in the region typically occur in multiple pods: "Whatever geological circumstance caused this mineralization in the shear zone, those similar circumstances would have existed elsewhere in these long structures."

Particular attention is focused on the PW Trend, where the company is conducting ground geophysical surveys to refine drill targets. This area has seen limited historical drilling, with only four holes completed, none of which tested the main conductor target.

The company's strategy aligns with broader uranium market dynamics. Current spot prices around $70/lb U3O8 remain below mine development incentive levels, and several major Athabasca Basin mines are approaching depletion, suggesting potential supply deficits in coming years.

F3 Uranium is positioning the JR Zone as a potential satellite deposit to feed a central mill, rather than a standalone operation. This approach could make it an attractive acquisition target for larger uranium producers active in the region, such as Cameco or Orano.

Looking ahead, F3 plans to maintain steady news flow through 2025 as it advances toward a maiden resource estimate at the JR Zone while simultaneously exploring additional targets across the property. The Athabasca Basin is known for hosting large uranium deposits exceeding 100 million pounds U3O8, and with continued exploration success, the JR Zone and surrounding targets could contribute significantly to the region's resource base.

View F3 Uranium's company profile: https://www.cruxinvestor.com/companies/f3-uranium-corp

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