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First American Uranium Focuses on 4 Potential Drill Zones

First American Uranium Inc. has submitted revised project maps and enhancements to the exploration plan for its Red Basin Uranium/Vanadium Property in Catron County, New Mexico, USA. This project encompasses 26 lode claims, covering approximately 537 acres (about 217 hectares), and is situated roughly 250 miles (approximately 402 km) north of the sole operational uranium mill in the United States.

First American Uranium Focuses on 4 Potential Drill Zones at Red Basin Uranium/Vanadium Project

Image Credit: First American Uranium Inc.

The original exploration plan for the Red Basin Project was initially submitted in 2013. However, First American Uranium has recently revised and updated the exploration plan, which now includes a redesigned project map with some key elements: The boundaries of the company’s 26 lode claims (depicted in black); Four potential drilling zones identified as Areas 1 through 4.

Over 1,000 historic boreholes drilled by the Gulf Oil Corporation between the late 1960s and early 1980s, represented by red dots and the existing access routes to the claims, including US Forest Service (USFS) roads (marked in blue) and 2-track roads (shown in purple).

The updated exploration plan also incorporates a redrafted project map, illustrating the existing access routes to the Red Basin Project area starting from the intersection of Highway 60 and Davenport Canyon.

Historically, the region where the project is located yielded 1,194 pounds of U3O8 in the 1950s. This uranium was extracted from ore with an average grade of 0.17% U3O8, as documented by McLemore & Chenoweth in 2017.

Furthermore, the Company’s NI 43-101 Report reveals that assessments of the property, conducted by various sources, affirm the presence of uranium/vanadium deposits. This suggests the potential for the project to advance to a more developed stage.

The Company maintains constant and open communication with the Cibola National Forest and National Grasslands, which have jurisdiction over the Red Basin Project's exploration plan.

The Company remains committed to engaging in a cooperative and constructive manner with all relevant stakeholders, as well as the State of New Mexico, to progress the development of the property. This commitment includes a pledge to adhere to all state and federal rules and regulations while conducting exploration activities for uranium and vanadium.

Mr. Frank Bain, P.Geo., First American’s consulting geologist and field representative, has apprised the regulators of his deep experience in the region as an exploration geologist, as a mining claim specialist approving Notices and Plans of Operations for the Bureau of Land Management (BLM), and as a state inspector.

The redrafted project maps and our updated exploration plan, together with our recently received 43-101 recommendations, are important milestones toward advancing our work program to help define the Red Basin Uranium/Vanadium Project’s resource potential. We’re working to create a secure and domestic US-based uranium supply, and we’re fortunate to have New Mexico’s history of significant uranium production and today’s pro-uranium market forces supporting that goal as we move ahead.

Shawn Balaghi, CEO, First American Uranium Inc.

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