Latitude Uranium Inc. announced the second and final batch of assay results from its 2023 drill program at the Angilak Project in Nunavut, Canada (?Angilak?). This final batch of assays contains eight holes and follows the first batch announced on November 7, 2023 [1], for a total of 18 holes (5,665 meters) focused on the Main Zone of the Lac 50 Trend. Assay results for the second and final batch are presented in Table 1 below.

Results for the last batch of eight assays are from the west side of the Main Zone on the Lac 50 Trend. The overall 2023 drill program focused on extending known historical intercepts within the historical inferred mineral resource of 43.3m lbs U3O8 at 0.69% grade1 and testing geological interpretations to discover new mineralized areas. Hole 4 (23-LC-004) was designed to test the hanging wall in the new potential lens up dip from holes 6 and 8. Hole 4 is located within an east-northeasterly cross-cutting structural corridor and returned multiple mineralized intercepts, the best being 0.29% U3O8 over 0.3m from 69.8 to 70.1m, with copper mineralization also present in the system with grades of up to 1.19% Cu over 1.0m from 56.8 to 57.8m.

Hole 13 (23-LC-013) is located slightly east of hole 4, but still within the east-northeasterly cross-cutting structural corridor. The purpose of hole 13 was to test more of the structural corridor in addition to tuffaceous horizons. As seen in Figure 3, hole 13 intercepted 0.68% U3O8 over 0.9m from 282.9 to 283.8m showing continuity of the main tuff horizon at depth.

Additionally, hole 13 returned multiple shallow intersections in the shallower hanging wall. Results from these drillholes offer further evidence of a correlation between intersections of tuffaceous units in the hanging wall with east-northeasterly crossing structures and the extension of mineralization into the hanging wall of the Lac 50 Deposit. Both the hanging wall tuff lens and the extension of the crosscutting structure into the hanging wall of the Lac 50 Trend are targets which have developed and advanced out of the 2023 drilling program.

This valuable knowledge will be incorporated into the 2024 drill campaign. Holes 12, 14, 15, and 18 (23-LC-012, 23-LC-014, 23-LC-015 and 23-LC-018) were designed to test for Lac 50 Trend mineralization at depth while additionally testing for shallower hanging wall mineralization. The holes were designed as up-dip/down-dip pairs to test shallow and deep in the system along the western end of the Main Zone on the Lac 50 Trend.

Holes 12 and 14 were drilled as a fan with hole 12 being drilled at a shallower angle. There were multiple intersections at depth in the main tuff horizon, the best was 1.21% U3O8 and 0.40% Cu over 1.1m within a broader mineralized zone of 0.57% U3O8 and 0.22% Cu over 2.4m from 234.6 to 237.0m. Additionally, there were multiple intersections in the hanging wall, including 0.30% U3O8 over 0.5m from 139.9 to 140.4m and 0.24% U3O8 and 1.82% Cu over 1.1m from 82.8 to 83.9m.

Significantly, the shallowest intervals in holes 12 and 14 containing the highest grades of copper and associated U3O8 are associated with a fault zone at the base of a mappable conglomeritic unit. This unit extends to the southeast where it is associated with a strong surface radiometric response. The faults are interpreted to represent basin bounding structures with a potentially protracted period of activity and associated mineralization bearing fluid flow.

The extension of these faults and the conglomerates represent significant additional targets for future exploration. Holes 15 and 18 were drilled on an offset rather than a fan with hole 15 being drilled approximately 72m to the northwest of hole 18, both at -60 degrees. Assays returned numerous at depth results, including 2.88% U3O8 over 0.5m from 299.1 to 299.6m as well as 2.05% U3O8 over 0.5m from 229.8 to 230.3m.

Additionally, there were multiple intersections in the shallower hanging wall and conglomerates, including 0.29% U3O8 and 2.12% Cu over 0.5m, within 0.12% U3O8 and 1.04% Cu over 2.0m from 34.0 to 36.0m. Both holes 15 and 18 intersected the shallow conglomerate identified in holes 12 and 14 and surface mapping. Although not associated with obvious faulting as in the holes 12 and 14, the contact is associated with strong U3O8 and Cu mineralization in hole 18 (34.0 to 36.0m).