Noble Plains Uranium Secures Duck Creek Project in Heart of Powder River Basin Uranium District

Rhea-AI Summary

Noble Plains Uranium Corp. (IXIXF) has secured an option agreement to acquire an 80% interest in the Duck Creek Project, a strategic uranium asset in Wyoming's Powder River Basin. The project covers 4,133 acres and is surrounded by major ISR uranium operations from companies like Uranium Energy Corp. and Cameco Corporation. The property features 4,068 historical drill holes outlining a 3-mile-long uranium trend, with mineralization at depths of 50-260 feet. The acquisition involves payments totaling US$1.5 million, issuance of 5.5 million shares over three years, and includes a 1% net smelter royalty. Located in a region that has produced over 238 million pounds of uranium since the 1950s, Duck Creek represents a low-impact, ISR-suitable development opportunity. The company is completing an NI 43-101 technical report and plans confirmation drilling later this year.

Positive

• Strategic location surrounded by major uranium operations in the productive Powder River Basin
• Extensive historical data with 4,068 drill holes providing high confidence in geological potential
• Shallow mineralization depth (50-260 feet) favorable for low-cost ISR mining
• Project suitable for environmentally friendly ISR extraction method with faster permitting and lower costs
• Evidence of historic production and proven uranium mineralization in the area

Negative

• Significant upfront acquisition costs with $1.5M cash and 5.5M shares over three years
• No current NI 43-101 compliant resource estimate
• Historical data requires confirmation drilling for validation
• Project currently at early stage despite brownfield status

Over 4,000 Historic Drill Holes Outline 3-Mile Uranium Trend in One of America's Most Prolific ISR Districts

Vancouver, British Columbia--(Newsfile Corp. - June 19, 2025) - Noble Plains Uranium Corp. (TSXV: NOBL) (OTCQB: IXIXF) (FSE: INE0) ("Noble Plains" or the "Company") is pleased to announce that it has entered into a property option agreement to acquire an 80% interest in the Duck Creek Project ("Duck Creek Property", "Duck Creek", the "Project", or the "Property"), a strategically located brownfield uranium asset in Wyoming's highly productive Powder River Basin.

The Project spans 4,133 acres (6.5 square miles) of mineral rights and is directly surrounded by a cluster of major in-situ recovery ("ISR") uranium resources and operations—including those held by Uranium Energy Corp., Cameco Corporation, and GTI Energy Limited (see Figure 1). These neighboring operations, together with the Project's dense historical drill coverage and shallow roll-front mineralization, strongly support the prospectivity and strategic value of Duck Creek.

"Duck Creek sits in the heart of a proven uranium district and is backed by an enormous amount of historical drilling, giving us high confidence in the geological potential," said Drew Zimmerman, President of Noble Plains. "This is exactly the kind of brownfield project we target—shallow mineralization, extensive data, and near existing infrastructure. It aligns with our goal of building out pounds in the ground quickly and efficiently to provide shareholders real leverage to the uranium market."

The Property includes 78 lode mining claims (1,573 acres) and four State of Wyoming mineral leases (2,560 acres). Importantly, the Project hosts a 3-mile-long corridor of high-density drilling completed by Kerr-McGee Nuclear Corporation in the 1970s. A total of 4,068 historical drill holes outline a consistent, shallow roll-front uranium system within the Eocene-aged Wasatch Formation, with mineralization occurring from less than 50 feet to 260 feet below surface. Surface features also show evidence of historic open-pit production from these same mineralized zones (see Figure 2).

"The Powder River Basin is reasserting its importance as a centre of U.S. uranium production," added Paul Cowley, CEO of Noble Plains. "Our review of the historic dataset for Duck Creek confirmed not only the continuity of near-surface mineralization, but also significant upside in the untested deeper Fort Union Formation which hosts resources and production from many of our neighbours. It's a rare combination of near-term development potential and meaningful exploration upside."

Figure 1: Duck Creek Project Surrounded by resource and production projects

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3717/256084_330c469c3445fa01_002full.jpg

Note: source of resource numbers: Allemand-Ross, Barge, and Ludeman projects, from 2022-09 technical report Exhibit 96.1. Smith Ranch Highland, from Cameco website. Lo Herma, from company website. Technical and scientific information disclosed from neighbouring properties does not necessarily apply to the Duck Creek Project.

Figure 2: 3-mile-long trend of high-density historic drilling and historic production areas

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3717/256084_330c469c3445fa01_003full.jpg

A National Instrument 43-101 ("NI 43-101") technical report is nearing completion and will present an exploration target of pounds of uranium based on the historical drilling, prepared by an independent Qualified Person. Noble Plains has spent the last two months conducting a detailed review of the drillhole database and modeling key mineralized zones, and the Company is confident in both the data quality and the resource potential. Confirmation drilling is planned for later this year to advance the Project toward an initial NI 43-101 compliant resource estimate.

Strategic Context

Wyoming has produced over 238 million pounds of uranium since the 1950s, with the Powder River Basin(the "PRB") representing a key district in that legacy of production. With ISR now the dominant extraction method in the PRB and Wyoming overall, Duck Creek represents a low-impact, low-cost path to resource development. ISR mining allows for faster permitting, minimal surface disturbance, and lower capital and operating costs-aligned with Noble Plains' strategy of environmentally responsible uranium development.

The addition of Duck Creek significantly strengthens Noble Plains' Wyoming portfolio, following the Company's recent acquisitions in the Shirley Basin, including the Shirley Central project announced earlier this month (see news release dated June 3, 2025).

Terms of Transaction

The Company has entered into a property option agreement (the "Agreement") effective June 13, 2025, with a private vendor (the "Optionor") pursuant to which the Company can acquire an 80% interest in the Duck Creek Property over three years.

Pursuant to the Agreement and within seven days of TSX Venture Exchange approval, the Company will (a) pay US$250,000 to the Optionor; (b) reimburse the Optionor staking costs and Bureau of Land Management fees; and (c) issue 1,250,000 shares of Noble Plains ("Shares") to the Optionor. On or before the first anniversary of the Agreement, the Company will (a) pay a further US$300,000 to the Optionor, and (b) issue 1,500,000 Shares to the Optionor (or pay US$200,000 to the Optionor at the Optionor's option). On or before the second anniversary of the Agreement, the Company will (a) pay a further US$450,000 to the Optionor, and (b) issue 1,500,000 Shares to the Optionor (or pay US$300,000 to the Optionor at the Optionor's option). On or before the third anniversary of the Agreement, the Company will (a) pay US$500,000 to the Optionor, and (b) issue 1,250,000 Shares to the Optionor (or pay US$400,000 to the Optionor at the Optionee's option), at which time a joint venture will be created on a 80:20 ratio, subject to a 1% net smelter royalty retained by the Optionor. The Duck Creek Property option transaction requires acceptance by the TSX Venture Exchange prior to closing.

No finder's fees are being paid in connection with the Duck Creek Property transaction and the Shares to be issued pursuant to the Agreement will be subject to the statutory hold period of four months from the date of issuance in accordance with applicable Canadian securities laws. The Shares have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and may not be offered or sold within the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities laws or pursuant to available exemptions therefrom.

About Noble Plains Uranium Corp.

Noble Plains Uranium (TSXV: NOBL) is focused on acquiring and advancing U.S.-based uranium projects amenable to In-Situ Recovery (ISR)-the most capital-efficient and environmentally responsible method of uranium extraction. The Company targets historically explored, geologically robust projects in uranium-friendly jurisdictions with the goal of rapidly delineating NI 43-101 resources and building out a pipeline of ISR-development opportunities.

"Paul Cowley", CEO

For further information, please contact Paul Cowley
Telephone: (604) 340-7711
Website: www.nobleplains.com

Bradley Parkes, P.Geo., VP Exploration and Director of Noble Plains Uranium Corp., is the Qualified Person as defined in National Instrument 43-101, who has read and approved the technical content of this news release.

Cautionary Statements Regarding Forward-Looking Information

This news release contains certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable securities legislation. All statements, other than statements of historical fact, included herein, without limitation, statements relating to the future operations and activities of Noble Plains, are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or "should" occur or be achieved. Forward-looking statements in this news release relate to, among other things, the acquisition of an 80% interest in the Duck Creek Property, the merits of the Project, including potential mineralization therein, completion of an NI 43-101 compliant technical report on the Property, and the planned 2025 exploration program to advance the Project towards an NI 43-101 compliant resource estimate. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by Noble Plains, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation, the ability of the Company to obtain TSX Venture Exchange approval, the ability of the Company to complete proposed exploration work, the results of exploration, continued availability of capital, and changes in general economic, market and business conditions. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these items. Readers are urged to refer to the Company's filings on SEDAR+ at www.sedarplus.com for a more complete discussion of such risk factors and their potential effects. Noble Plains does not assume any obligation to update forward-looking statements should beliefs, opinions, projections, or other factors, change, except as required by applicable securities laws.

Neither the TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in the policies of the TSX Venture Exchange) 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/256084

FAQ

What is the Duck Creek Project acquisition cost for Noble Plains Uranium (IXIXF)?

Noble Plains will pay US$1.5 million in cash and issue 5.5 million shares over three years to acquire 80% interest, plus a 1% net smelter royalty to the vendor.

How many historical drill holes are there at the Duck Creek uranium project?

The Duck Creek Project contains 4,068 historical drill holes completed by Kerr-McGee Nuclear Corporation in the 1970s.

What is the size and location of Noble Plains' Duck Creek uranium project?

The Duck Creek Project spans 4,133 acres (6.5 square miles) in Wyoming's Powder River Basin, including 78 lode mining claims and four State of Wyoming mineral leases.

What is the depth of uranium mineralization at the Duck Creek Project?

The uranium mineralization at Duck Creek occurs at shallow depths ranging from less than 50 feet to 260 feet below surface in the Wasatch Formation.

Who are the neighboring uranium companies around the Duck Creek Project?

The Duck Creek Project is surrounded by major uranium operators including Uranium Energy Corp., Cameco Corporation, and GTI Energy Limited.