F3 Uranium : December 2023 Corporate Presentation View Presentation

F3 Uranium

INVESTOR PRESENTATION

TSX-V : FUU | OTCQB: FUUFF | FSE:2F3A

WINTER 2024

F3URANIUM.COM

DISCLAIMER

This presentation contains certain "forward-looking statements" within the meaning of applicable Canadian securities laws. Forward-looking statements can generally be identified by the use of forward-looking terminology such as "may", "will", "expect", "intend", "estimate", "anticipate", "believe", "continue", "plans", "potential" or similar terminology. Forward-looking statements in this presentation include, but are not limited to, statements and information related to the potential and demand of nuclear power and uranium; the advantages of small modular reactors; the use of survey and technical information; the plans and objectives of F3 Uranium Corp. (the "Company") with respect to the Patterson Lake North property

("PLN") and the timing related thereto, including with respect to future drilling programs; and other statements regarding future plans, expectations, projections, objectives, estimates, guidance and forecasts, as well as statements as to management's expectations with respect to such matters. Forward-looking statements are not historical facts and are made as of the date of this presentation. These forward-looking statements involve numerous risks and uncertainties, and actual results may vary. Important factors that may cause actual results to vary include without limitation, risks related to the ability of the Company to accomplish its plans and objectives with respect toClickPLN within the expectedto edittiming or at all,Masterincludingtitle style

the timing and receipt of certain approvals, changes in uranium prices, changes in interest and currency exchange rates, risks inherent in exploration estimates and results, timing and success, inaccurate geological and metallurgical assumptions (including with respect to the size, grade and recoverability of mineral reserves and resources ), changes in development or mining plans due to changes in logistical, technical or other factors, unanticipated operational difficulties (including failure of plant, equipment or processes to operate in accordance with specifications, cost escalation, unavailability of materials, equipment and third party contractors, delays in the receipt of government approvals, industrial disturbances or other job

action, and unanticipated events related to health, safety and environmental matters), political risk, social unrest, and changes in general economic conditions or conditions in the financial markets. In making the forward-looking statements in this presentation, the Company has applied several material assumptions, including without limitation, the assumptions that the Company will be able to accomplish its plans and objectives with respect to PLN within the expected timing; market fundamentals will result in sustained uranium demand and prices; the receipt of any necessary approvals and consents in connection with the development of any properties; and the availability of financing on suitable terms for the planned activities and development of PLN. The actual results or performance by the Company could differ materially from those expressed in, or implied by, any forward-looking statements relating to those matters. Accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what impact they will have on the results of operations or financial condition of the Company. Except as required by law, the Company is under no obligation, and expressly disclaim any obligation, to update, alter or otherwise revise any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. The scientific and technical information in this presentation has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") and reviewed and approved on behalf of the Company by Raymond Ashley, P. Geo. Vice President of Exploration for the Company. Mr. Ashley is a qualified person for the purposes of NI 43-101.

F3 Highlights

• Tier One Asset. Experienced, recognized management and technical team with 3 uranium discoveries.

• Mar 27, '23 High Grade Intercept Hole PLN23-060 (14.5 m @ 9.4% U3O8 including 5.0 m @ 26.7%) 473
• JR Zone/has strong, shallowClickmineralizationto editover significantMasterwidths.titleExtendedstyleto 105 m by end of 2023 winter program and during the 2023 summer/fall program a further 50% to 156m long currently.
• Airborne EM Survey expands the total strike length of the A1/B1 conductive corridor by 1/3rd to 5.0 km
• New B1 conductor discovery with intense sandstone and basement alteration shows very high boron, a pathfinder element common to uranium deposits in the Athabasca Basin, - up to 10,800ppm boron over 0.5m in hole PLN23- 093 in lower Athabasca Sandstone. Sam Hartmann comments: "I see the new B1 shear area among the most prospective places to make the next discovery, considering these first geochemistry results".
• Large portfolio of highly prospective exploration properties
• Early beginning to the possibility of a world class deposit.• Nov 21, '22 High Grade Discovery Hole PLN22-035 (15.0 m @ 7% U3O8 including 5.5 m @ 18.6%)

$15 Million Strategic Investment

Denison Mines announces a $15 million investment with F3 in the form of a convertible debenture.

The Debentures will carry a 9% coupon (the "Interest"), payable quarterly over a 5-year term and

will be convertible at Denison's option into common shares of F3 at a conversion price 473 of $0.56 per share representing a 30% premium to F3's five-day volume weighted average share

price on the TSX VentureClickExchangetoaseditof OctoberMaster5, 2023. title style

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David Cates, President and CEO of Denison commented, "F3's technical team has an incredible track record of exploration success including the discovery of the JR Zone on the Patterson Lake North ("PLN") property, which represents one of the top new uranium discoveries globally. We are pleased to be investing in F3, supporting the further assessment of the PLN property, and providing Denison shareholders with exposure to this exciting new discovery in the Athabasca Basin."

Dev Randhawa, CEO of F3 commented, "We are pleased to welcome Denison as a strategic investor in F3. Denison is a uranium industry leader, possessing a diverse array of both early and advanced- stage assets in the Athabasca Basin, where F3 is currently advancing the PLN property. We highly value Denison's perspectives on uranium exploration and look forward to pursuing a productive relationship."

B1 Shear Zone is Highly Prospective for Potential New Discovery

Hole PLN 23-102 (line 3450S) Drill Core

Lower Athabasca Sandstone, Unconformity and Basement - sandstone dissolution and intense sandstone and basement alteration observed

Unconformity depth: 356.3 m downhole (marked in photo)

Projection

COP28 - Nuclear to Triple by 2050

The U.S. and more than 20 other countries pledged to triple nuclear power by 2050 to achieve net-zero carbon emissions and limit climate change.

*COP28 '23

II

		RUSSIA: 46
	EUROPE: 7	CHINA: 221
USA:23

SAUDI ARABIA: 16

EAST ASIA: 17

INDIA: 48

More reactors operating now than	Most Japanese reactors coming back	Middle East (home of Big Oil) aggressively
in any other time in history	online due to strong regulator support	securing nuclear energy supply

436

IN OPERATION

61

UNDER CONSTRUCTION

+101

PLANNED

+318

PROPOSED

Builds at 25-year high

Rising Demand

Nuclear Power Demand Continues to Increase

• Morgan Stanley's Commodity Research has named URANIUM as the

473

#1 investment for Clickthe next 12tomonthsedit. Master title style

Source: mining.com August 15, 2022,https://www.mining.com/uranium-tops-morgan-stanleys-commodity-thermometer/

• The Uranium industry is set for a record term of contacting in 2022. Ian Purdy, CEO of Paladin Energy states "there is now an annual deficit of 60 million lbs. per annum out for the next decade". Cameco says inflationary breakeven of $90/lb. is needed to increase production.
• U.S. Department of Energy lays out a rapid nuclear build out plan more aggressive than China's, adding 13GW annually.

Source: https://liftoff.energy.gov/wp-content/uploads/2023/03/20230320-Liftoff-Advanced-Nuclear-vPUB-0329-Update.pdf

• Nuclear power capacity & Uranium demand is greater now than ever, mainly due to nuclear' s 'GREEN' energy source. Demand is surging in a global decarbonization drive to fight Climate Change & achieve Net Zero. A 'Nuclear Renaissance' is now underway.

Small Modular Reactors (SMR's)

• SMRs will offer advantages such as small physical footprints, reduced capital investment, ability to be sited in locations not possible for larger nuclear plants, and provisions for incremental power additions.

• Rolls-Roycehas been backed by a consortium of private investors and the UK government ($276 million) to develop small nuclear reactors to generate cleaner, affordable energy

• Bill Gates and Warren Buffet are currently building a $4B small nuclear power plant in Wyoming

Source: Kaustubh Laturkar, AIChE - Advances in Very Small Moular Nuclear Reactors, April 2022

Building Shareholder Value

Since 1996

CDN Assets

Strathmore Minerals Corp (SMC)		Energy Fuels
*$2M Mkt Cap to $457M ('07)	US Assets	*Acquires SMC and it's US assets ('13)
* JV Sumitomo $50M

Fission Energy Corp ('07)

*(Strathmore Canadian Assets) *JV KEPCO (Korea) $44M *J-Zone Discovery & sale to ($85M)

F3 Uranium ('13)

*Project Generator with 18 project in the Athabasca Basin

• JV with Traction Uranium ('21)
• JV with SKRR ('23)

Fission Uranium Corp ('13)

*Takeover Alpha Minerals

*1Triple R discovery 43-101 PFS Resource 102.4M lbs indicated/32.8M lbs inferred

*1PFS - OPEX $9.57 C$ / lb. U3O8

*CGN (China) buys 19.99% ($82M)

*F3 Uranium Corp. Spin Out

Athabasca Basin

Highest Grade Uranium in the World

+60		years of mining with the
	world's highest uranium
	grades.
	Click to edit Master title
13.2%		Of the world's uranium	2.5
	2

Top 5 Global Producers

style

-- JURISDICTION

Saskatchewan was ranked as the

#2 jurisdiction in the world for mining investment in 2021 by the Fraser Institute.

GRADE

% U3O8

1.5

1

0.5

0

The grades are 10 to 20 times global average in the Athabasca Basin.