Labrador Uranium Provides Exploration and Machine Learning Update: Continuing to Add Targets

Labrador Uranium is pleased to provide an update on its ongoing exploration and Machine Learning programs within its property (the “CMB Property”) located in the Central Mineral Belt (“CMB”) in Central Labrador, Canada.

The inaugural program includes a drill campaign and bedrock mapping program along the 20+ kilometer-long Moran Lake Trend (Figure 1). The goal of the current drilling program is two-fold: 1) to test the extent of the known historical uranium deposits/resources; and 2) to zero-in on conceptual Uranium and IOCG (Iron Oxide Copper-Gold) targets derived from LUR’s Machine Learning Program. Current exploration in the CMB also includes preparatory work for ground geophysics in the Mustang Lake prospect area, where the target is to find uranium mineralization similar to Paladin Energy’s Michelin Deposit.

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Stephen Keith, CEO of LUR, commented, “Our inaugural exploration program, which began in mid-July, is progressing well. Not only are we advancing our knowledge of the Moran Lake project, but we are also starting to yield results from our initial Machine Learning Program, leading to specific drill targets. Drilling and sampling data continues to be added for mineral resource modelling, and to potentially extend the limits of known mineralization while developing possible new Uranium and IOCG targets through Machine Learning, an iterative process.”

Mr. Keith continued, “Additionally, we have started preparing to revive exploration at Mustang Lake, which we believe is located along strike from Paladin Energy’s Michelin deposit. We look forward to continuing to methodically advance our exploration efforts on our extensive land package with a modern approach to understanding 50 years of exploration data. With a strong balance sheet, we are fully funded for exploration into next year and we are excited to generate new projects within the CMB and to hopefully be in a position to delineate mineral resources in the ground. The LUR team and I would like to personally thank our shareholders for their support during these exciting times as energy supply issues become more critical.”

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Drill Campaign – Moran Lake Trend

The first holes of the current drill program have intersected probable extensions of uranium-bearing structural corridors. Two zones of characteristic alteration and anomalous radioactivity ranging from 10 – 30 metres downhole (true width unknown) intersected in hole ML-200 (Figure 2), extending known mineralization downdip and possibly identifying new uranium-bearing, high angle structures. This new information will be incorporated into LUR’s geological modelling and machine learning efforts to develop new priority uranium drill targets.

The Moran Lake Trend is transected by dozens of late faults and lineaments as defined by geological mapping and geophysics (Figure 3). Each of these structures is a potential pathway for the transport of oxidized mineralizing fluids associated with inferred IOCG systems that may be present within the CMB Property.

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