EQS-Media: Trade with the trend - Uranium is a bull market again: Future Fuels provides promising update on the Hornby Basin uranium project

EQS Media / June 20, 2025 / 08:23 CET/CEST

Future Fuels Inc. (ISIN: CA36118K1084 | WKN: A40TUW) is pleased to announce the results of a hyperspectral remote sensing survey conducted at the Company's Hornby Basin uranium project. The project is located in the Hornby Basin in the Canadian territory of Nunavut.

The hyperspectral survey successfully identified mineralogical, geochemical, and gas anomalies consistent with known uranium mineralization on the project property, generating over 100 anomaly clusters. The hyperspectral survey anomalous results will be incorporated into the Company's exploration model and will provide additional ground truth targets for the upcoming exploration season.

Future Fuels' principal asset is the Hornby Project, which encompasses the entire 3,407 km² Hornby Basin in northwestern Nunavut, a geologically prospective area with over 40 undeveloped uranium occurrences, including the historic Mountain Lake system. Future Fuels also owns the Covette property in the James Bay region of Quebec, which comprises 65 mineral claims covering 3,370 hectares.

Rob Leckie, President & CEO of Future Fuels, commented:

"The first hyperspectral survey ever completed at the Hornby Project brings us one step closer to more accurately locating our target zones. We will continue to keep our shareholders updated and are now working hard to formulate our initial exploration program on this project."

Hyperspectral measurement at a glance:

Detailed key data can be found in the current financial news release . Future Fuels will integrate the wealth of collected data into VRIFY's AI targeting program, formulating the company's initial exploration plan at the Hornby Project. The hyperspectral program evaluated satellite data from across the property. The spectral signatures observed in the known mineralized zone at Mountain Lake were used to evaluate and identify comparable targets throughout the Hornby Bay Basin (Figure 1). The survey analyzed 10-band Sentinel-2 data (VNIR and SWIR) and integrated it with PALSAR-2 SAR to detect mineralogical and geochemical signals at and near the surface.

Using spectral unmixing techniques, 16 mineral end-members were generated and compared to USGS mineral inventory data. High-probability matches include muscovite (0.79 corr.), illite (0.68 corr.), pyrite (0.51 corr.), and chert (0.66 corr.). These minerals all occur within or in close proximity to uranium-bearing sandstones, particularly in redox-front systems where uranium precipitates from oxidized fluids. A multivariate classifier trained on the spectral fingerprint of the Mountain Lake area identified 100 high-priority target zones with similar spectral sensitivity (excluding the previously identified system), which serve as a guide for future prospecting.

The gas component of the measurement revealed elevated He, CH and CO concentrations, which may be related to the following factors:

- Radiogenic decay of uranium and thorium (He)

- Redox processes and microbial activity in pyrite and muscovite (CH and CO)

These anomalies indicate active geochemical pathways from depth, potentially marking concealed mineralization. In addition, SAR backscatter analysis provided dielectric estimates, with the higher values ​​over Mountain Lake associated with moisture-bearing alteration minerals. The dielectric signature supports the remote detection of alteration zones even beneath shallow cover.

The survey results clearly support the exploration model of a near-surface, sandstone-hosted uranium system, with spectral and gas signatures correlating with known high-grade mineralization. These findings will inform Phase 2 exploration planning.

What is a hyperspectral measurement?

A hyperspectral survey is a remote sensing technique that analyzes light reflected from the Earth's surface across a broad range of wavelengths, far beyond what the human eye can see. Each mineral reflects light in a unique way, creating a spectral signature that can be used to detect specific substances in the soil, such as claystones, oxides, or sulfides, which are often associated with mineral deposits. This survey used Sentinel-2 satellite imagery to capture visible and infrared light across 10 spectral bands. The data was then processed using spectral unmixing, which separates the signal into pure mineral components (called endmembers). By comparing these signatures with known mineral inventory data, geologists are able to detect subtle variations in surface mineralogy that may indicate hidden mineralization. In addition, the measurements mapped natural gas emissions (e.g., helium, hydrogen, methane) that can escape from uranium-bearing deposits through cracks and fissures in the ground. These gas signatures, together with mineral indicators, serve as a guide for the precise identification of potential new exploration targets—even if they are hidden beneath soil, vegetation, or a glacial cover (according to Pendock, 2025).

Source reference

Future Fuels Inc. (2025). NI 43-101 Technical Report on the Hornby Basin Uranium Project. Future Fuels Inc.

Pendock. N, (2025) Uranium exploration at Mountain Lake, Nunavut, using Sentinel-2visible/near infrared [VNIR], shortwave infrared [SWIR] and Palsar-2 synthetic aperture radar [SAR] imagery.

Smith, J.P. (2003). Geophysical Survey Data and Uranium Assay Analysis in the Hornby Basin. Canadian Geological Survey Bulletin No. 315.

Supply and demand development

The uranium market currently exhibits a characteristic constellation of limited supply and changing demand. Over several years, only limited investments in new production capacity have been made, while global demand is influenced by various factors. A key driver is the international expansion of nuclear energy, particularly in Asian markets. China is positioning nuclear power as a key component of its energy strategy and plans to build numerous new nuclear power plants in the coming years.

Technological developments and new areas of application

The energy demands of the digital age, particularly those driven by data-intensive applications such as artificial intelligence, are leading to increased electricity demand for technology companies. The exploding energy requirements of the AI ​​revolution are forcing tech giants such as Google, Amazon, and Microsoft to search for reliable, flexible power sources. So-called "Small Modular Reactors" ("SMRs") – next-generation compact nuclear power plants – are expected to meet the growing electricity needs of data centers starting in 2030 and could trigger a further surge in demand for uranium. Major technology companies have already established groundbreaking partnerships to secure their energy supplies: Microsoft secured the reactivation of the Three Mile Island reactor through a 20-year contract, while Google is making strategic investments in various SMR developers. Amazon is underscoring this trend with investments of over $500 million in SMR technology. These ambitious projects, planned for implementation starting in 2030, aim to sustainably meet the exponentially growing energy needs of modern data centers and are expected to trigger significant market momentum in the uranium sector. Recently, Meta followed this strategic approach with a long-term energy partnership: The US utility Constellation Energy will provide the entire electricity production of the Clinton nuclear power plant in Illinois exclusively for the operation of Meta's data centers over the next two decades. This agreement underscores the growing importance of nuclear energy as a reliable energy source for the digital infrastructure of the future.

Geopolitical factors

The geopolitical dimension of the uranium market has gained importance in recent years. Various countries and regions are rethinking their energy supply strategies and the associated dependence on raw material imports. The EU Commission has classified nuclear energy as a climate-friendly technology under certain conditions, providing the sector with additional regulatory support within the framework of climate policy.

Potential increase ahead?

Fundamental market conditions point to a structural shift, with the interplay of limited supply and changing demand shaping market dynamics. Future Fuels Inc. (ISIN: CA36118K1084 | WKN: A40TUW) has positioned itself excellently in this positive environment. The current valuation level offers risk-averse investors excellent entry opportunities: Those who want to truly mature should already add some Future Fuels shares to their portfolio to benefit even more from a potential price increase.

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