F4 and Stearman to Explore Drill-Ready Murphy Lake

Core Viewpoint - F4 Uranium Corp. has entered into an exclusive option agreement with Stearman Resources Inc. to allow Stearman to acquire up to a 70% interest in the Murphy Lake uranium property in Saskatchewan, marking a strategic partnership aimed at advancing exploration and development of the property [1][2][3]. Agreement Details - Stearman will make a non-refundable cash payment of $50,000 on July 28, 2025, as the initial payment [2]. - Stearman has the option to acquire a 50% interest in the property by paying a total of $750,000 over 24 months, with specific payment milestones [2]. - Stearman is required to fund $10,000,000 in exploration expenditures over 42 months, with scheduled expenditures of $1,500,000 at 12 and 24 months, and $7,000,000 at 42 months [2]. - Stearman must complete equity financings to raise at least $3,000,000 within six months, after which it will issue shares to F4 equal to 9.9% of its total outstanding shares [2]. - Following the initial option, Stearman can acquire an additional 20% interest in the property, bringing its total interest to 70% [2][4]. Property Overview - The Murphy Lake Property spans 609 hectares and is located in the northeastern Athabasca Basin, near significant uranium deposits [6]. - The property is strategically positioned 5 km south of ISOEnergy's Hurricane Uranium Deposit and 4 km east of Cameco's La Rocque Lake Uranium Zone [1][6]. - Previous drilling at the property has shown promising results, including a peak scintillometer reading of 2,300 cps and assay results of 0.065% U3O8 over 2.5m [6]. Company Background - F4 Uranium Corp. is focused on uranium exploration in the Athabasca Basin, with a portfolio of 17 wholly owned properties totaling approximately 157,000 hectares [9]. - The company was spun out of F3 Uranium in 2024 and is led by a management team with a history of successful uranium discoveries [9].