Abasca Resources Inc. announced geochemical assays from drillcore samples collected during its successful winter drilling program on the 100%-owned 23,977-hectare Key Lake South Uranium Project (KLS). The Company drilled a total of 11 holes comprising 4,959 metres at the Mustang target area (Mustang), intersecting anomalous radioactivity in 8 holes (previously released), and assays confirm anomalous uranium intersections. Assay Highlights 9 of the 11 drillholes intersected anomalous uranium over a cumulative total core length of 13.85 m. KLS-23-004 intersected a total of 1.5 m of anomalous uranium, including 10 cm at 1260 ppm U. KLS-23-006 intersected a total of 3.4 m of anomalous uranium, including 79 cm at 897 ppm U and 43 cm at 942 ppm U. KLS-23-009 intersected a total of 2.4 m of anomalous uranium, including 50 cm at 1010 ppm U. Drilling Highlights Multiple stacked graphic fault zones intersected at major lithological contacts with overprinting fracture zones, fault gouge, and fault breccia - Ideal features in other basement-hosted uranium deposits in the Athabasca Basin region.

Confirmed anomalous uranium intersections located proximal to graphitic fault zones that are also promoted in pathfinder elements including up to 3540 ppm B, 267 ppm Ce, 350 ppm Cu, and 381 ppm V. Silicification, hematite and clay alteration observed in all drillholes within and proximal to fracture and fault zones.