Noble Plains Uranium Advances Drill Permitting on Duck Creek Project at the Core of Powder River Basin Uranium District

Rhea-AI Summary

Noble Plains Uranium (OTCQB:NBLXF) has submitted a permit application for a 198-hole drill program at its Duck Creek Project in Wyoming's Powder River Basin. The project's NI 43-101 Technical Report defines an Exploration Target of 2.37-5.45 million tons at grades between 0.03-0.05% U3O8.

The program includes 174 holes (88%) aimed at expanding the mineral outline, while 24 holes (12%) will verify 1,317 historical intercepts. The company plans to focus on shallow mineralization in the Wasatch Formation, with deeper Fort Union Formation exploration planned for later. Noble Plains aims to establish an initial NI 43-101 compliant resource by first half of 2025.

Positive

• Strategic location in Wyoming's prolific Powder River Basin uranium hub
• Extensive historical data with 1,317 existing intercepts reduces exploration costs
• 88% of drill program focused on expansion rather than verification
• Potential for significant resource growth beyond current Exploration Target

Negative

• Exploration Target is conceptual with no defined mineral resource yet
• Uncertainty in converting historical data to compliant resource
• Drill permits still pending approval
• Deeper mineralization in Fort Union Formation remains unexplored

News Market Reaction – NBLXF

-11.32%

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-11.32% News Effect

On the day this news was published, NBLXF declined 11.32%, reflecting a significant negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Vancouver, British Columbia--(Newsfile Corp. - August 27, 2025) - Noble Plains Uranium Corp. (TSXV: NOBL) (OTCQB: NBLXF) (FSE: INE0) ("Noble Plains" or the "Company") is pleased to announce that it has submitted a drill permit application for a 198-hole program on the recently optioned Duck Creek Project. The submission comes shortly after closing the acquisition, underscoring the Company's desire to efficiently advance high-potential projects in premier U.S. uranium districts.

Located in the heart of Wyoming's Powder River Basin, a prolific and infrastructure-ready uranium hub, the Duck Creek Project is surrounded by major deposits and production facilities operated by Cameco Corporation, Uranium Energy Corp., and GTI Energy Limited.

"Submitting permits this promptly after acquisition is a clear reflection of our strategy at Noble Plains: acquire, advance, and build pounds in the ground efficiently," said Drew Zimmerman, President of Noble Plains Uranium. "Duck Creek is becoming an integral part of our vision of becoming a leading growth story in U.S. uranium, and we are executing with the urgency this market needs and our shareholders deserve."

Eighty-eight percent (174 holes) of the planned drill program is designed to expand the "mineral outline" used in the newly completed NI 43-101 Technical Report, which defined an Exploration Target. Only 12% (24 holes) of the planned program will be devoted to verifying the 1,317 historical intercepts within the mineral outline area, highlighting the capital efficiency of building on an already extensive dataset. The planned drill program will focus entirely on the shallow mineralization in Wasatch Formation. The deeper opportunity in the Fort Union Formation will be explored in a subsequent drill campaign.

The newly completed NI 43-101 Duck Creek Technical Report defined an Exploration Target of 2.37 million tons at 0.03% U₃O₈ to 5.45 million tons at 0.05% U₃O₈, based on historical drilling. The potential quantity and grade of the Exploration Target is conceptual in nature, that there has been insufficient exploration to define a mineral resource and that it is uncertain if further exploration will result in the target being delineated as a mineral resource.

"The upside here is compelling," added Paul Cowley, CEO of Noble Plains Uranium. "With a small number of confirmation holes, we can validate the historic drilling, while the bulk of the program is strategically designed to expand the mineralized footprint. The opportunity is not just to confirm what's already outlined, but to potentially move beyond the upper limits of the Exploration Target toward a larger, more meaningful uranium project in the one of the most prolific basins in Wyoming."

Drilling is expected to commence shortly after permits are received. The results of the program will support the Company's goal of advancing Duck Creek to an initial NI 43-101 compliant resource in the first half of 2025.

Figure 1: 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/3717/264047_9f065c5ad4d43a7a_001full.jpg

On Behalf of the Board of Directors,

"Paul Cowley", CEO
"Drew Zimmerman", President

For further information, please contact: Drew Zimmerman: (778) 686-0973
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.

This news release includes certain forward-looking statements as well as management's objectives, strategies, beliefs and intentions. Forward-looking statements are frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "estimate", "intend" and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, competitive risks and the availability of financing, as described in more detail in our recent securities filings available at www.sedarplus.ca. Actual events or results may differ materially from those projected in the forward-looking statements and we caution against placing undue reliance thereon. We assume no obligation to revise or update these forward-looking statements except as required by applicable law.

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/264047

FAQ

What is the size of Noble Plains Uranium's Duck Creek Project Exploration Target?

The Duck Creek Project has an Exploration Target of 2.37-5.45 million tons at grades between 0.03-0.05% U3O8, based on historical drilling.

How many drill holes is NBLXF planning at Duck Creek?

Noble Plains has submitted permits for 198 drill holes, with 174 holes for expansion and 24 holes for historical data verification.

When does Noble Plains expect to complete its initial resource estimate for Duck Creek?

The company aims to establish an initial NI 43-101 compliant resource in the first half of 2025.

Where is Noble Plains Uranium's Duck Creek Project located?

The Duck Creek Project is located in the Powder River Basin of Wyoming, surrounded by major deposits and production facilities operated by Cameco, Uranium Energy Corp., and GTI Energy.

What percentage of NBLXF's drill program is focused on expansion vs verification?

88% (174 holes) of the program is designed for expansion, while 12% (24 holes) will verify historical intercepts.