Vancouver, British Columbia--(Newsfile Corp. - March 19, 2025) - Aero Energy Limited (TSXV: AERO) (OTC Pink: AAUGF) (FSE: UU3) ("Aero" or the "Company") is pleased to announce the commencement of drilling at Howland Lake on the Murmac Uranium Project ("Murmac" or the "Project"), located in northern Saskatchewan near Uranium City.
The program is expected to include up to six drill holes to further test the Howland Lake electromagnetic ("EM") conductors which returned uranium intercepts from first-pass drilling. As demonstrated from previous exploration results, the Project has potential to host high-grade, basement-hosted deposits typical of the Athabasca Basin.
Exploration work at Murmac is being funded the Company and is being operated by Fortune Bay Corp (TSXV: FOR) (OTCQB: FTBYF) (FSE: 5QN) ("Fortune Bay"), under an Option Agreement that was executed on December 15, 2023.
Highlights:
High-Grade Follow-Up: Drilling to be focused at Howland Lake North on targets along strike of drill hole M24-017 that intersected 8.40 m at 0.30% U3O8, with individual assays up to 13.80% U3O8 over 0.10 m. Additional drilling is planned at Howland Lake South, along strike of drill hole M22-012 that intersected 0.17% U3O8 over 0.10 m.
Compelling Drill Target Support: Selected drill targets (Figure 1) are backed by favorable criteria for high-grade basement-hosted deposits, including EM conductor breaks, structure, and significant alteration noted in historical drill holes. Known mineralized cross faults and strong radon-in-water anomalies from recent surveys further support target selection (see News Release dated February 20, 2025).
Focused Drilling Program: The winter 2025 drilling program will be focused on priority targets developed at Howland Lake which will be more efficiently tested from ice-based drill hole locations. Numerous other priority targets have also been identified along Murmac's extensive graphitic corridors (>35 kilometres of strike) that warrant future drill testing.
Galen McNamara, CEO for Aero Energy, commented, "The Howland Lake drilling program is a key step forward for Murmac, targeting zones with proven high-grade uranium potential. Supported by solid science and our partnership with Fortune Bay, we're determined to define a significant new uranium deposit in the Athabasca Basin."
Figure 1: Howland Lake radon-in-water results and drill targets.
Details regarding previous drill results from 2022 and 2024 can be found in news releases dated October 8, 2024, and December 13, 2022, respectively. Further details regarding historical exploration/drilling and exploration results noted in this news release can be found within the Saskatchewan Mineral Assessment Database (SMAD) references 74N07-0011, 74N07-0173 and 74N07-0277. Fortune Bay has verified several of these occurrences through field prospecting and sampling, however there is a risk that any future confirmation work and exploration may produce results that substantially differ from the unverified historical results. The Company considers the unverified historical results relevant to assess the mineralization and economic potential of the property.
Qualified Person
The technical and scientific information in this news release has been reviewed and approved by Galen McNamara, P.Geo., CEO of the Company, who is a Qualified Person as defined by NI 43-101.
About Aero Energy
Aero Energy is a mineral exploration and development company advancing a district-scale 250,000-acre land package in Saskatchewan's historic Uranium City district within the Athabasca Basin. Aero is focused on uncovering high-grade uranium deposits across its flagship Optioned Properties – Sun Dog, Strike, and Murmac – in addition to its fully owned properties. Aero is led by an award-winning technical team responsible for discoveries along the prolific Patterson Corridor that include the Gryphon (TSX: DML), Arrow (TSX: NXE), and Triple-R (TSX: FCU) deposits. With over 50 shallow drill-ready targets identified and 125 km of target horizon, Aero is tapping into the basin's emerging potential for high-grade, unconformity-style mineralization.
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.
Cautionary Statement Regarding Forward-Looking Information
This news release contains certain "forward-looking statements" and certain "forward-looking information" as defined under applicable Canadian and U.S. securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as "may", "will", "should", "expect", "intend", "estimate", "anticipate", "believe", "continue", "plans" or similar terminology. The forward-looking information contained herein is provided for the purpose of assisting readers in understanding management's current expectations and plans relating to the future. These forward‐looking statements or information relate to, among other things the exploration and development of the Company's mineral exploration projects including completion of drilling activities.
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual actions, events or results to be materially different from those expressed or implied by such forward-looking information, including but not limited to: the requirement for regulatory approvals; enhanced uncertainty in global financial markets as a result of the public health crises; unquantifiable risks related to government actions and interventions; stock market volatility; regulatory restrictions; and other related risks and uncertainties.
Forward-looking information are based on management of the parties' reasonable assumptions, estimates, expectations, analyses and opinions, which are based on such management's experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect.
The Company undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.
