F4 Uranium Confirms Termination of Hearty Bay Option Agreement by Traction Uranium
Rhea-AI Summary
F4 Uranium (FFUCF) reported that Traction Uranium has given formal notice to terminate the Hearty Bay mineral property option agreement, effective July 30, 2026, under Section 10.1(b) of the agreement. Following termination, F4 will retain a 100% interest in the Hearty Bay Property.
The Hearty Bay Property consists of 7 mineral claims totaling 11,173 hectares on the northern margin of Saskatchewan’s Athabasca Basin. Historic and recent prospecting have returned boulder assays up to 8.23% U₃O₈. F4 has conducted drilling, till sampling, and gravity surveys and is assessing next exploration steps, independently or with a new partner. The company holds 16 wholly owned properties totaling about 157,000 hectares.
Positive
- F4 retains 100% ownership of the Hearty Bay Property after option termination
- Hearty Bay comprises 7 mineral claims totaling 11,173 hectares in the Athabasca Basin
- Historic and 2019 sampling returned boulder assays up to 8.23% U₃O₈
- F4’s portfolio includes 16 wholly owned properties totaling about 157,000 hectares
Negative
- Traction Uranium’s option on Hearty Bay terminates effective July 30, 2026
- Winter 2024 drill program at Hearty Bay was limited to a single hole, leaving most gravity targets untested
News Market Reaction – FFUCF
In the Jul 17 session, FFUCF gained 7.96%, reflecting a notable positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
F4 Uranium Retains
Kelowna, British Columbia--(Newsfile Corp. - July 17, 2026) - F4 Uranium Corp. (TSXV: FFU) ("F4" or the "Company") announces that it has received formal notice of termination dated July 15, 2026 from Traction Uranium Corp. ("Traction") regarding the mineral property option agreement (the "Option Agreement") dated December 9, 2021, as amended on February 28, 2023 and July 22, 2025, relating to the Hearty Bay Property in Saskatchewan's Athabasca Basin.
Pursuant to Section 10.1(b) of the Option Agreement, Traction has voluntarily terminated the agreement. The termination will become effective on July 30, 2026. As a result, F4 will retain
Raymond Ashley, CEO of F4 Uranium, commented:
"We thank Traction for their contributions to the Hearty Bay Project. F4 now holds a
About the Hearty Bay Property
The Hearty Bay Property comprises 7 mineral claims totaling 11,173 hectares on the northern margin of the Athabasca Basin in Saskatchewan, located approximately 20 km west of the Fond-du-Lac uranium deposit. The Property is highlighted by the historic Isle Brochet boulder field, including the Wolfe and Jackfish radioactive boulder trains. These trains contain mineralized boulders with historic assays up to
Prospecting by F3 Uranium in 2019 identified 45 new mineralized boulders returning assays of up to
A gravity survey was also completed to generate new drill targets.
A winter 2024 drill program to test these targets was limited to a single hole due to poor ice conditions, leaving most targets untested.
Qualified Person
The technical information in this news release has been reviewed and approved on behalf of the Company by Sam Hartmann, P.Geo., President & Chief Operating Officer of F4, and a qualified person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects.
About F4 Uranium Corp:
F4 Uranium is a Canadian uranium exploration company focused on the Athabasca Basin in northern Saskatchewan, led by the management and exploration team behind multiple uranium discoveries in the Basin, including most recently Patterson Lake North and Broach Lake. The project portfolio comprises 16 wholly owned properties totaling approximately 157,000 hectares, several of which sit near established uranium deposits including Paladin's Triple R, NexGen Energy's Arrow and IsoEnergy's Hurricane. The assets were spun out of F3 Uranium in 2024. F4's exploration program is split between the west and east sides of the Athabasca Basin, with the Company operating as both an explorer and project generator providing investors early-stage exposure to the Basin.
Contact Information
F4 Uranium Corp.
750-1620 Dickson Avenue
Kelowna, BC V1Y 9Y2
Investor Relations
Telephone: 778 484 8030
Email: ir@F4uranium.com
ON BEHALF OF THE BOARD,
"Ray Ashley"
Raymond Ashley, CEO
F4 Uranium Corp.
Forward-Looking Statements
This news release contains certain forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, including statements regarding the suitability of the Hearty Bay Property for mining exploration and the Company's plans to advance exploration on its properties, are "forward-looking statements". These forward-looking statements reflect the expectations or beliefs of management of the Company based on information currently available to it. Forward-looking statements are subject to a number of risks and uncertainties, including those detailed from time to time in filings made by the Company with securities regulatory authorities, which may cause actual outcomes to differ materially from those discussed in the forward-looking statements. These factors should be considered carefully and readers are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
The TSX Venture Exchange has not reviewed, approved or disapproved the contents of this press release, and does not accept responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/305623