North Shore Receives Exploration Permits for Rio Puerco Uranium Project and Announces Marketing Engagement

Rhea-AI Summary

North Shore Uranium (OTCQB:NSURF) received key permits to start its first drill program at the Rio Puerco uranium project in New Mexico, allowing up to 26 drill holes to validate historical Kerr-McGee data.

The company also signed a six-month media and communications agreement with Equity Catalyst Partners for US$7,500 per month, subject to TSX Venture Exchange approval.

Positive

• Received state Minimal Impact Exploration Operation Permit and BLM Notice of Intent for Rio Puerco
• Drill contractor mobilized; initial Rio Puerco drill program expected to start in near term
• Plan to drill up to 26 holes to assess and validate historical Kerr-McGee uranium data
• Signed six-month media and communications agreement at US$7,500 per month to support disclosure and outreach

Negative

• Equity Catalyst Partners agreement requires TSX Venture Exchange approval before fully effective
• US$7,500 monthly fee for media services will be funded from general working capital

News Market Reaction – NSURF

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In the May 26 session, NSURF gained 5.74%, reflecting a notable positive market reaction.

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VANCOUVER, BC / ACCESS Newswire / May 26, 2026 / North Shore Uranium Ltd. (TSXV:NSU)(OTCQB:NSURF) ("North Shore" or the "Company") is pleased to report that it has received the permits required to commence its first drill program at its Rio Puerco uranium project in the Grants Uranium District of northwestern New Mexico ("Rio Puerco" or the "Project").

The Company has received approval of its Minimal Impact Exploration Operation Permit from the state of New Mexico and its Notice of Intent to conduct mineral exploration activities at Rio Puerco from the Bureau of Land Management. North Shore's drill contractor Harris Exploration Drilling and Associates has mobilized to the Project and the Company expects to commence its initial Rio Puerco drill program in the near term. North Shore plans to drill up to 26 holes and the main objective of the program is to begin validating and further evaluating historical exploration data generated by the Kerr-McGee Mining Corporation in the 1960s and 1970s. Details of the 2026 drill program were reported on April 9, 2026.

Brooke Clements, President and CEO of North Shore stated: "We look forward to getting the drill turning at Rio Puerco soon. The Rio Puerco Project represents an exciting growth opportunity for North Shore and we look forward to validating the historical work completed by Kerr-McGee and confirming the significant exploration potential of the Project. World energy demand is increasing and the United States has indicated an intention to increase its domestic uranium supply, and we believe this supports advancing a project like Rio Puerco."

North Shore President and CEO Brooke Clements (left) and North Shore Director Blake Steele at Rio Puerco in April 2026

MARKETING ENGAGEMENT

North Shore is pleased to announce that it has entered into a media and communications services agreement (the "ECP Agreement") with Equity Catalyst Partners, LLC ("ECP"), under the terms of which ECP will provide media relations engagement, public disclosure management, assistance with press release distribution and other related advisory functions.

On May 25, 2026, the Company entered into the ECP Agreement for a six (6) month term, which can be terminated with thirty (30) days' written notice delivered to the other party, or at such other time and in such manner as may be mutually agreed upon by the parties. Monthly payments of US$7,500 will be paid at the end of each month, with the first month fee paid upon signing. All fees payable by the Company to ECP, pursuant to the ECP Agreement, will be paid out of general working capital of the Company. The fees are for services only and are not contingent on the results of the services, the market price of the Company's securities or the volume of trading in such securities.

ECP is headquartered in Washington, D.C., USA. The Company and ECP act at arm's length, and ECP has no present interest, directly or indirectly, in the Company or its securities, or any right or present intent to acquire such an interest. There are no performance factors contained in the ECP Agreement and ECP will not receive common shares or stock options as compensation.

The ECP Agreement is subject to approval by the TSX Venture Exchange.

QUALIFIED PERSON

Mr. Brooke Clements, MSc, P.Geol., a Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects and the President and CEO of North Shore, has reviewed and approved of the scientific and technical disclosure in this press release.

ABOUT NORTH SHORE

The nuclear power industry is undergoing increased development to meet CO₂ emission-reduction goals and the needs of new power-intensive technologies like AI. In this environment, discoveries of uranium deposits may be significant, especially in established uranium-producing jurisdictions like Saskatchewan and New Mexico. North Shore is focused on advancing exploration for uranium deposits. The Company is working to achieve this goal by exploring Rio Puerco in the Grants Uranium District of New Mexico and its Falcon and West Bear properties at the eastern margin of the Athabasca Basin in Saskatchewan. In addition, the Company continues to evaluate quality opportunities in the United States and Canada to complement its portfolio of uranium properties.

ON BEHALF OF THE BOARD

Brooke Clements,
President, Chief Executive Officer and Director

For further information:
Please contact: Brooke Clements, President, Chief Executive Officer and Director
Telephone: 604.536.2711
Email: b.clements@northshoreuranium.com
www.northshoreuranium.com

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

Forward-Looking Statements

This news release contains forward-looking statements. All statements, other than statements of historical fact that address activities, events, or developments that the Company believes, expects, or anticipates will or may occur in the future are forward-looking statements. These statements reflect management's current expectations based on information currently available and are subject to a number of risks and uncertainties that may cause actual results to differ materially from those discussed in the forward-looking statements. Forward-looking statements in this release include, but are not limited to: the expected timing of commencement of the Company's 2026 drill program at the Rio Puerco project; the planned scope of such drill program; the Company's objective of validating and further evaluating historical exploration data; the initiation and results of work programs and their potential outcomes; the Company's ability to acquire up to an 87.5% interest in the Rio Puerco project and to create a joint venture with Resurrection Mining LLC; the Company's the Company's exploration strategy to evaluate additional opportunities in the United States and Canada; the actual results of current and planned exploration activities, including the whether exploration activities result in the identification of mineralization of potential economic interest at Rio Puerco and the Company's Falcon and West Bear properties in Saskatchewan; the ability of the Company to meet milestones and make bonus payments to Resurrection; the interpretation and meaning of completed and future geophysical surveys, drilling results, and economic evaluations; the availability of sufficient funding on terms acceptable to the Company and the timing and receipt of the required regulatory and government approvals, including approval of the TSX Venture Exchange in respect of the ECP Agreement,; and other statements that are not historical facts. Forward-looking statements are frequently characterized by words such as "plan", "expect", "anticipate", "intend", "estimate", "believe" and similar expressions, as well as statements that certain events or conditions "may", "could", "would" or "will" occur. These statements are subject to various risks and uncertainties that may cause actual results to differ materially from those anticipated or implied, including, but not limited to: risks that the Company may not commence or complete its planned drill program on the anticipated timeline; risks relating to contractor availability and site conditions; risks that historical exploration data may not be indicative of future results; the speculative nature of mineral exploration; the availability of financing on acceptable terms; delays in obtaining governmental or regulatory approvals, including approval of the TSX Venture Exchange; fluctuations in uranium prices; and other factors described in the Company's public disclosure documents. Additional risks not presently known to the Company may also cause actual results to differ materially from those anticipated. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events, or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein. All forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

SOURCE: North Shore Uranium Ltd.

View the original press release on ACCESS Newswire

FAQ

What permits did North Shore Uranium (OTCQB:NSURF) receive for the Rio Puerco project in May 2026?

North Shore secured a Minimal Impact Exploration Operation Permit from New Mexico and a Notice of Intent from the Bureau of Land Management. According to North Shore, these approvals allow mineral exploration drilling at the Rio Puerco uranium project in the Grants Uranium District.

When will North Shore Uranium (NSURF) start drilling at Rio Puerco and how many holes are planned?

North Shore expects to begin its initial Rio Puerco drill program in the near term. According to North Shore, the 2026 program plans for up to 26 drill holes, targeting validation and further evaluation of historical uranium exploration data from the 1960s and 1970s.

What are the key terms of North Shore Uranium’s May 25, 2026 marketing agreement with Equity Catalyst Partners (NSURF)?

North Shore entered a six-month media and communications services agreement with Equity Catalyst Partners. According to North Shore, the contract can be terminated with 30 days’ written notice and covers media relations, public disclosure management, press release distribution and related advisory services for the company.

How much will North Shore Uranium (OTCQB:NSURF) pay Equity Catalyst Partners under the May 2026 ECP Agreement?

North Shore will pay Equity Catalyst Partners US$7,500 per month, with the first month’s fee paid on signing. According to North Shore, all fees come from general working capital and are for services only, not linked to share price or trading volume.

Does Equity Catalyst Partners hold any interest in North Shore Uranium (NSURF) under the 2026 marketing engagement?

Equity Catalyst Partners has no present direct or indirect interest in North Shore or its securities. According to North Shore, ECP will not receive common shares or stock options, and there are no performance factors tied to compensation in the ECP Agreement.

Who is the Qualified Person for North Shore Uranium’s Rio Puerco technical disclosure (NSURF)?

The Qualified Person is Brooke Clements, MSc, P.Geol., President and CEO of North Shore. According to North Shore, he meets National Instrument 43-101 standards and has reviewed and approved the scientific and technical information related to the Rio Puerco project.