Nuclear Fuels Inc. announced that Nuclear Fuels has expanded its Kaycee Uranium Project ("the Kaycee Project") by over 25%. Newly acquired historic drill hole data led to the increase of its property holdings by more than 7 miles along trend. The Kaycee Project, in Wyoming's prolific Powder River Basin ("PRB") now extends more than 33-miles along trend with over 110 miles of identified roll fronts and consists of more than 42 square miles of mineral rights.

As announced on October 23, 2023 an aggressive drill program has commenced with a rotary drill on-site for the first phase of its fully-funded 200 hole rotary drill program. Over 3,800 historic drill holes will guide exploration on 110+ miles of mapped roll front mineralization;. Only 9 discrete zones of mineralization had been drilled off in the early 1980's before reduced uranium prices stopped exploration work.

Nuclear Fuels has these 9 core mineralized zones to expand on, as well as 110+ miles of roll front to define new deposits. The overall property has remained virtually untested since the last uranium exploration boom in what is a premier ISR production region of Wyoming. The Kaycee Project is believed to be the only project in the PRB where all three known historically productive sandstone formations (Wasatch, Fort Union, and Lance) are mineralized and potentially amenable to ISR extraction.

TheKaycee Project, under Nuclear Fuels, represents the first time since the early 1980's that the entire district is controlled by one company. Nuclear Fuels acquired the Kaycee Project from enCore Energy Corp., which retains a back-in right for 51% of the project by paying 2.5X the exploration costs and carrying the Kaycee project to production (costs recoverable from production) upon Nuclear Fuels establishing a minimum 15 million pound U3O8 43-101 compliant resource. Wyoming is a proven and prolific uranium producer with a pro-energy government and established regulatory regime for the permitting and extraction of uranium through ISR technology.

As Wyoming is one of the few "Agreement States" where the federal government and the Nuclear Regulatory Commission have ceded regulatory authority to the state government, permitting and advancing uranium projects is more efficient and streamlined as compared to most other states. With existing historic resources through a 33-mile trend, 110+ miles of mapped roll-fronts and 3,800 drill holes, Nuclear Fuels has secured the district under one company's control for the first time since the early 80's. Nuclear Fuels also provides a unique model for development of other uranium projects and has established a pipeline of future opportunities in known uranium jurisdictions. industry leaders work to build America's uranium resources and provide a domestic fuel for nuclear energy; always on, always available.

ISR technology extracts uranium in a non-invasive process through the use of groundwater and oxygen, coupled with a proven ion exchange process, to recover the uranium.