North Shore Uranium, has collected multiple samples from two of the first three uranium prospects drilled at its 55,699 hectare Falcon Property located at the eastern margin of the Athabasca Basin in northern Saskatchewan, returning anomalous uranium values of greater than 300 ppm U3O8 and up to a maximum of 572 ppm U3O8. North Shore is now planning future exploration programs on the Property. As reported on March 20th, 2024, three targets were drilled along a strong, dominantly northeast-trending electromagnetic conductor system, P03, P08 and P12.

These results confirmed the encouraging field findings for P03 and P08 that were based on downhole gamma probe readings and geologic observations. Uranium mineralization was confirmed at P03 and P08 with the most significant intersection being at P08, 316 ppm U3O8 over a 4.7 metre interval with a peak value of 572 ppm U3O8. The following summarizes North Shore?s drilling results and future plans: P03: A blocky fracture zone and interpreted brittle fault with graphite-rich gouge was encountered between 193.5 - 196.0m coincident with the projected location of the modelled EM conductor.

Below this fault zone from 196.6 to 209.0m, multiple samples had elevated uranium content including two samples with greater than 300 ppm U3O8. P08: A 4.7m interval between 42.3 - 47.0m returned 316 ppm U3O8 with one sample in the interval returning the highest reading from the program, 572 ppm between 42.3 - 42.8m. From 102.3 - 105.5m, a brittle pegmatitic and graphitic fault zone was intersected at the projected depth of the EM conductor.

Next Steps: Given the encouraging results, North Shore will evaluate potential options for further evaluation of the uranium-bearing structures associated with targets P03 and P08, including drilling deeper and/or shallower and/or along strike of the interpreted EM conductor. As the modelled target at P12 was not reached, North Shore will consider re-testing this target. In addition, multiple high-priority target zones that have been identified at Falcon have not yet been evaluated by drilling.

North Shore is currently planning a field program to investigate the highest priority targets by mapping and prospecting and continues to prioritize targets for future drilling. Underneath six metres of overburden, an alternating succession of metasedimentary rocks comprised of variably garnet-rich graphitic pelitic gneisses crosscut by numerous pegmatites was encountered to 222.5m. A blocky fracture zone and interpreted brittle fault with graphite-rich gouge was encountered within the graphitic gneiss unit between 193.5 - 196.0m; the projected EM conductor intersection depth was 195.0m.

The key interval is just below this fault zone from 196.6 - 209.0m where multiple samples had elevated uranium content including three samples with greater than 300 ppm U3O8 with the highest value being 378 ppm U3O8. Strong localized chlorite and silica alteration and multiple pegmatite intrusions were observed in this zone. Anomalous nickel values between 275 and 527 ppm were reported between 193.0 - 197.1m.

Anomalous molybdenum values between 140 and 193 ppm were reported in three samples between 200.6 - 203.1m. The combination of the spatial relationship between anomalous uranium content, the graphitic horizon, the structure and alteration are exploration criteria that are important when exploring for a basement-hosted uranium deposit. North Shore will consider further investigation of this structure at depth and/or along the strike of the associated EM conductor system.

After intersecting 30.5 metres of overburden, an alternating succession of metasedimentary rocks comprised of variably garnetiferous and graphitic pelitic gneiss and schist cross-cut by numerous plagioclase and K-feldspar granitic pegmatites was encountered to 132.3m. Granitic gneiss intersected by K-feldspar granitic pegmatites is present until the end of hole at 144m. The graphitic units were host to up to 30% graphite, with localized patches up to 60%.

Two zones with elevated uranium were encountered. Within a zone from 40.6 - 49.0 m, a 4.7m interval between 42.3 - 47.0m returned 316 ppm U3O8 with the highest reading in the interval being 572 ppm between 42.3 - 42.8m. This interval is associated with an interpreted brittle fault zone between 43.9 - 49.0m.

Between 67.6 - 71.0 m, a pegmatite-rich brittle fault zone comprised of fractured pegmatites and blocky and rubbly graphitic metasediments was encountered. A 3.4m interval between 67.6 - 71.0m had uranium values in samples ranging from 110 - 128 ppm U3O8. The entire graphitic schist upper portion of the hole displayed very strong patchy chlorite-cordierite-hematite-illite alteration to 102.3m.

From 102.3 - 105.6m, a brittle pegmatitic and graphitic fault zone was intersected at the projected depth of the EM conductor along with strong bleaching (illite+/-sericite) clay alteration, strong hematite and chlorite along fractures and patchy silica alteration. The alteration minerals associated with the interpreted structure can be indicative of a proximal hydrothermal system and significant uranium was encountered associated with pegmatites in the upper brittle fault zone. The Company will consider further investigation of these interesting features in the future.

North Shore may acquire an initial 80% interest in the Property by issuing common shares of the Resulting Issuer having an aggregate value of CAD 1,225,000; making aggregate cash payments of CAD 525,000; and incurring an aggregate of CAD 3,550,000 in exploration expenditures on the Property over a three-year period. Once North Shore has earned an initial 80% interest in the Property, North Shore may acquire the remaining 20% interest in the Property within 90 business days by issuing Shares having a value of CAD 5,000,000, and making a cash payment of CAD 5,000,000 to Skyharbour. If North Shore does not elect to acquire the remaining 20% interest, a joint venture will be formed with Skyharbour holding a 20% participating interest.

North Shore will be the operator of the exploration programs during the earn-in stage and for the joint venture if formed. Two claims totaling 10,673 hectares that form part of Skyharbour?s Foster River Property are subject to a one percent (1%) NSR royalty payable to Skyharbour. The remaining nine claims totaling 32,235 hectares that comprise Skyharbour?s South Falcon Point Property are subject to a two percent (2%) NSR royalty payable to Denison Mines Corp.

with North Shore having the right to purchase one percent of the royalty from Denison at anytime by paying $1 million. All Shares will be subject to a four-month-and-one-day statutory hold period in accordance with applicable securities laws.