Blast Resources Announces Strong Uranium/Thorium Anomalies on Britts Lake Claims in Athabasca Basin Region, Saskatchewan

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Blast Resources (OTCQB: BLSRF) reports identification of a strong uranium/thorium anomaly at its Wales Lake Uranium Project in the Athabasca Basin region, Saskatchewan. The anomaly, interpreted from Geological Survey of Canada data, trends north–south for approximately 12 km and is evident in both the length and width of claim MC00019518.

According to Blast Resources, historic information also shows seven faults, shears, or conductors within the claim, located on the eastern side of the Clearwater Domain. The company highlights Geological Survey of Canada research linking the deep, heat‑producing Clearwater granites to uranium deposit formation in the Patterson Lake corridor. The technical content was approved by Qualified Person Locke Goldsmith under NI 43‑101. Blast Resources continues to focus on exploration at its flagship Wales Lake Uranium Project.

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VANCOUVER, BC, July 16, 2026 /PRNewswire/ -- Blast Resources Inc. ("Blast" or the "Company") (CSE: BLST) (FRA:O0E) (OTCQB: BLSRF) is pleased to announce a strong uranium/thorium anomaly that has been identified at the Wales Lake Uranium Project, which consists of 3 claim groups on the southwest side of the Athabasca Basin, in northern Saskatchewan.

Casey Forward, Chief Executive Officer & Director of the Company, commented, "The newly identified anomaly at Wales Lake represents a significant step forward in our efforts of delivering valuable results for our shareholders. We're confident that this anomaly will provide us with invaluable information that can be leveraged during a future work program. Moving forward, we're eager to continue driving growth at the Project." 

A strong Uranium/Thorium anomaly that in GSC survey information trends N-S and extends for approximately 12 km from the south end to near the north end where the anomaly is evident in both the length and width of claim MC00019518. What was significant from this anomaly and why is it being reported?

Of additional interest there are 7 faults, shears, or conductors shown from historic information within the claim. This anomaly sits on the eastern side of the Clearwater Domain. The Clearwater Domain in northern Saskatchewan follows a 325 km curvilinear aeromagnetic high and gravity low, extending from south margins of the Athabasca Basin to its northern margin. Although mostly covered by sediments, this geophysical feature is interpreted as a major magmatic event, supported by c. 1.84 Ga granitic outcrops along the Clearwater River.

Research by the Geological Survey of Canada's Targeted Geoscience Initiative investigated potential connections between these intrusions and the Patterson Lake corridor (PLC) uranium district. New geophysical surveys and modeling reveal that the Clearwater Domain extends deeper (~22 km) than previously known and dips beneath several PLC deposits.

The geological evidence supports a model whereby the radiogenic heat generated by the buried Clearwater granites created elevated geothermal gradients beneath the overlying sedimentary sequences. This heat promoted mobilization of deep basement fluids containing precious metals, while fault reactivations drew down uranium-bearing oxidized brines to form the deposits.

Qualified Person Statement

The scientific and technical information contained in this news release was prepared and approved by Locke Goldsmith, M.Sc., P.Eng., P. Geo., Arctex Engineering Services and who is a Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

About Blast Resources Inc.

Blast Resources (CSE: BLST) is a mineral exploration company trading on the Canadian Securities Exchange. The Company is currently focused on exploration at its flagship Wales Lake Uranium Project.

Situated south of Wales Lake and positioned just outside the southwest margin of the Athabasca Basin, the Project is strategically located within the Patterson Lake Corridor which hosts two significant uranium deposits, the Triple R Deposit and the Arrow Deposit.  

ON BEHALF OF THE BOARD

Casey Forward
President and CEO

Forward-Looking Statement (Safe Harbor Statement):

This press release contains forward looking statements within the meaning of applicable securities laws.  The use of any of the words "anticipate", "plan", "continue", "expect", "estimate", "objective", "intends" "may", "will", "project", "should", "predict", "potential" and similar expressions are intended to identify forward looking statements.  In particular, this press release contains forward looking statements concerning the completion of the debt settlement.

Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company cannot give any assurance that they will prove correct.  Since forward looking statements address future events and conditions, they involve inherent assumptions, risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of assumptions, factors and risks.  These assumptions and risks include, but are not limited to, assumptions and risks associated with mineral exploration generally and results from anticipated and proposed exploration programs, conditions in the equity financing markets, and assumptions and risks regarding receipt of regulatory and shareholder approvals

Management has provided the above summary of risks and assumptions related to forward looking statements in this press release in order to provide readers with a more comprehensive perspective on the Company's future operations. The Company's actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits the Company will derive from them.  These forward-looking statements are made as of the date of this press release, and, other than as required by applicable securities laws, the Company disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise.

Neither the CSE Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

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SOURCE Blast Resources Inc

FAQ

What uranium and thorium anomaly did Blast Resources (BLSRF) announce on July 16, 2026?

Blast Resources announced a strong uranium/thorium anomaly at its Wales Lake Uranium Project in northern Saskatchewan. According to Blast Resources, the anomaly is interpreted from Geological Survey of Canada data and is considered an important step for future work programs at the project.

Where is Blast Resources’ Wales Lake Uranium Project located in relation to the Athabasca Basin and Patterson Lake corridor?

The Wales Lake Uranium Project is on the southwest side of the Athabasca Basin in northern Saskatchewan. According to Blast Resources, it is situated south of Wales Lake, just outside the basin’s southwest margin, within the Patterson Lake Corridor that hosts the Triple R and Arrow uranium deposits.

How large is the uranium/thorium anomaly reported by Blast Resources (BLSRF) on its Britts Lake claims?

Blast Resources reports the uranium/thorium anomaly trends north–south for approximately 12 km within claim MC00019518. According to Blast Resources, the anomaly is evident in both the length and width of this claim, making it a key focus for future exploration work on the Wales Lake Uranium Project.

Why is the Clearwater Domain important to Blast Resources’ Wales Lake Uranium Project (BLSRF)?

The reported anomaly lies on the eastern side of the Clearwater Domain, a deep, heat‑producing geological feature. According to Blast Resources, Geological Survey of Canada research links Clearwater Domain granites and associated heat flow to uranium deposit formation along the Patterson Lake corridor, supporting the project’s geological model.

Who is the Qualified Person for Blast Resources’ July 16, 2026 uranium anomaly disclosure?

The scientific and technical information was prepared and approved by Locke Goldsmith of Arctex Engineering Services. According to Blast Resources, Goldsmith holds M.Sc., P.Eng., and P.Geo. designations and is a Qualified Person as defined by National Instrument 43‑101 for mineral project disclosure.

What structural features are associated with Blast Resources’ uranium/thorium anomaly at Wales Lake?

Historic information indicates seven faults, shears, or conductors within the claim hosting the anomaly. According to Blast Resources, these structural features coincide with the strong uranium/thorium anomaly and may be relevant for understanding fluid pathways and planning future exploration work on the Wales Lake Uranium Project.