Interview with Raymond Ashley, President and COO, F3 Uranium

Our previous interview: https://www.cruxinvestor.com/posts/f3-uranium-corp-tsxvfuu-resource-milestone-growth-drilling-ma-discussions-9473

Recording date: 27th June 2026

F3 Uranium is advancing exploration at its Patterson Lake North (PLN) project in Saskatchewan’s Athabasca Basin, combining an established high-grade resource with a discovery that could reshape regional exploration models. The company’s JR Zone, discovered in 2022, hosts an estimated 11.8 million pounds of uranium at 4.41% U3O8, with a particularly rich core of 10.8 million pounds grading 12.23%. This places it among the higher-grade uranium resources globally and confirms PLN as a meaningful asset in a district known for world-class deposits.

More recently, the Tetra Zone discovery has challenged a long-standing assumption in Athabasca exploration—that economic uranium deposits require graphite- and sulfide-bearing conductive structures. Tetra contains high-grade uranium despite lacking these features, demonstrating that mineralization can occur in previously overlooked geological settings. This finding significantly expands the exploration potential of PLN, particularly within the Clearwater domain, an area historically ignored due to the absence of electromagnetic conductors.

Scientific analysis shows that both JR and Tetra share identical uranium ages, mineralogy, and alteration signatures, indicating they formed from the same large-scale hydrothermal system despite being 13 kilometres apart. This suggests the mineralizing system extends across a much broader area than previously recognized.

To adapt, F3 is testing resistivity surveying as an alternative targeting method, supported by geochemical and gravity data. A 4,000-metre drill program beginning in July 2026 will test multiple new targets across the property. Backed by approximately $23 million in funding through 2027, the company is positioned to sustain aggressive exploration.

Strategically, PLN lies about 25 kilometres from planned milling infrastructure at Arrow and Triple R, potentially allowing future deposits to serve as satellite feed. This proximity lowers development thresholds and enhances the project’s attractiveness to potential partners amid growing global demand for nuclear energy.

Learn more: https://www.cruxinvestor.com/companies/f3-uranium-corp