Nuclear Fuels Initiates 2025 Drilling Campaign at Kaycee Uranium Project

Nuclear Fuels Starts 2025 Drilling Program at Kaycee Uranium Project

Nuclear Fuels Inc. (CSE: NF; OTCQX: NFUNF) has kicked off its 2025 drilling campaign at the Kaycee Uranium Project, situated in the Powder River Basin (PRB) of Wyoming. The program includes plans for a substantial 100,000 feet of drilling to further explore previously identified uranium mineralization zones. Notably, the 2024 exploration yielded promising discoveries, including the Outpost and Trail Dust Zones, which will be prioritized in this year’s efforts.

During the 2024 drilling phase, significant results from drill hole LT24_050 showed an impressive 0.082% eU3O8 over a 6.5-foot interval in the Outpost Zone, beginning at a depth of 767.0 feet. Meanwhile, the Trail Dust Zone, located approximately 1.5 miles north of Outpost, demonstrated equally promising results with drill hole LT24_037 returning 0.0553% eU3O8 over 5.5 feet starting from a depth of 886.0 feet. Based on these results, the 2025 exploration program aims to validate these discoveries and identify additional high-priority exploration targets.

Greg Huffman, CEO of Nuclear Fuels, commented on the significance of these findings, stating, "Our drilling program for 2025 is designed to leverage the discovery of the Outpost Zone while exploring the broader prospect of uranium resources at Kaycee. This is not just a validation of our geological model; it indicates further potential for discoveries across the district. Our focus now shifts to delineating the Outpost Zone and assessing its viability in contributing to future mineral resources."

In addition to the drilling news, Nuclear Fuels announced a strategic agreement with Premier American Uranium Inc. on June 5, 2025. This arrangement allows Premier American to acquire all outstanding shares of Nuclear Fuels, ensuring a smooth transition and cooperative growth in the uranium sector. Shareholders of Nuclear Fuels will receive 0.33 shares of Premier American Uranium for each share currently held, enabling a broader ownership structure post-transaction. Approval for this arrangement will be sought from NF Shareholders at a special meeting anticipated in the third quarter of 2025, with the closing of the transaction expected to follow shortly after, also in the third quarter.

The Kaycee Uranium Project encompasses an area of 55 square miles with a rich history, featuring a 35-mile mineralized trend that boasts over 430 miles of identified roll fronts, making it a key asset in the Wyoming PRB. The site is believed to be the only project that contains all three historically productive sandstone formations—Wasatch, Fort Union, and Lance—potentially amenable to in-situ recovery (ISR) methods. Furthermore, the project marks a significant historical moment since it is the first time in over four decades that one company has consolidated control over the entire district.

Wyoming has a considerable reputation as a prolific uranium producer, supported by an energy-friendly governmental stance and a well-established regulatory framework, which facilitates efficient project permitting and extraction processes. The state hosts a historic production record of over 250 million pounds of uranium, largely sourced through ISR technology since the early 1990s. The regulatory environment here is notably advantageous compared to many other states, making it an attractive location for nuclear fuel exploration and development.

Nuclear Fuels' acquisition of the Kaycee Project from enCore Energy Corp. in 2023 allows for front-line advancements in uranium exploration, emphasizing a clean energy transition. Under the agreement, enCore retains a back-in right to reacquire a 51% stake in the project by compensating 2.5 times the exploration costs after Nuclear Fuels establishes a minimum of 15 million pounds of compliant uranium resources.

Looking ahead, the firm can capitalize on its strategic relationship with enCore Energy Corp., along with its newly initiated drilling program, to establish robust assets while ensuring shareholder value through systematic exploration and progressive project development. The ongoing commitment to exploration at the Kaycee Project confirms Nuclear Fuels Inc.'s posture within the revitalized uranium sector poised for growth.

About Nuclear Fuels Inc.

Nuclear Fuels Inc. is a leading uranium exploration company focused on advancing district-scale ISR uranium projects towards production across the United States. Leveraging comprehensive historical data and industry expertise, the company aims to build a strong position in a market that is expected to see significant growth driven by governmental support. Nuclear Fuels is committed to maximizing the potential of the Kaycee district through diligent exploration, highlighting its pioneering approach in the domain of uranium mining.