South Falcon East

Property Overview

The South Falcon East property is home to the Fraser Lakes B Uranium Deposit, a significant basement-hosted uranium resource located on the southeastern margin of the world-class Athabasca Basin in Saskatchewan, Canada.

Property Details:

18 claims totaling 12,234 hectares
Located 50 km east of the Key Lake Uranium Mill
Situated 18 km outside the Athabasca Basin margin
Power line access just 10 km from the property
Year-round road access via provincial highways

Ideal Location Near World-Class Uranium Operations

World-Class District

Located in the Athabasca Basin, home to the world's highest-grade uranium deposits averaging ~2.0% U₃O₈

Near Key Infrastructure

50 km east of the Key Lake Mill—one of the world's largest uranium processing facilities

Inferred Resource

6.9 M lbs U₃O₈ inferred at average grade of 0.03%

Expansion Potential

Deposit remains open down-dip to the northwest, north, and northeast

Historical Resource

In March of 2015, Skyharbour updated the historical NI 43-101 mineral resource estimate* for the Fraser Lakes Zone B deposit at the south end of the property:

6,960,681 pounds U₃O₈ inferred at average grade of 0.03% U₃O₈ and 5,339,219 pounds ThO₂ inferred at average grade of 0.023% ThO₂ within 10,354,926 tonnes (cutoff grade of 0.01% U₃O₈)

Fraser Lakes B Uranium Deposit*

Cut-off Grade % U₃O₈	Tonnes	U₃O₈ Grade (%)	U₃O₈ Lbs
0.01%	10,354,926	0.030	6,960,681
0.02%	7,247,689	0.037	5,948,018
0.03%	4,248,266	0.046	4,275,145
0.04%	2,212,182	0.056	2,744,506

"The exploration potential of the Fraser Lakes target area is considered exceptional, including the historical resource expansion potential of the current deposit at Zone B."

*The historical resource is described in a technical report on the Falcon Point uranium project, Northern Saskatchewan, dated March 20, 2015, and filed on SEDAR by Skyharbour Resources Ltd. Terra is not treating the resource as current and has not completed sufficient work to classify the resource as a current mineral resource. While Terra is not treating the historical resource as current, it does believe the work conducted is reliable and the information may be of assistance to readers.

2025 Winter Drill Program

Program Highlights:

Successful Step-Out: Uranium mineralization intercepted in 6 of 7 holes, confirming continuity across the deposit and expanding the mineralized footprint.
Geological Validation: Confirmed the intersection of graphitic metasediments with brittle reactivated structures—key indicators for basement-hosted unconformity deposits.
Expansion Potential: Deposit remains open down-dip to the northwest, north, and northeast.

2025 Winter Drill Program – Assay Highlights

Hole	From (m)	To (m)	Width (m)	% eU₃O₈
SF0061	150.25	152.45	2.2	0.02
SF0062	141.75	144.15	2.2	0.03
SF0063	173.55	185.55	12.0	0.03
SF0063	213.65	216.65	3.0	0.03
SF0065	204.9	222.4	17.5	0.02
SF0065	258.1	261.8	3.7	0.05
SF0066	189.3	197.2	7.9	0.02
SF0066	206.6	207.6	1.0	0.03
SF0066	214.4	217.8	3.4	0.03
SF0067	207.4	210.4	3.0	0.04
SF0067	219.8	223.8	4.0	0.03
SF0067	230.5	231.8	1.3	0.04
SF0067	233.7	239.2	5.5	0.01
SF0067	272.7	274.1	1.4	0.03

Future Exploration Target

Target: A high-priority zone 120–150m north of the winter drilling, where clay alteration and mineralized pegmatites intersect.
Strategy: Fully permitted for ~2,500m follow-up program to test for higher-grade feeder zones.

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