North Shore Uranium Ltd. announced that it has completed a maiden drill program at its 55,699 hectare Falcon Property ("Falcon" or the "Property") located at the eastern margin of the Athabasca Basin in northern Saskatchewan. During the program, three targets were drilled along a strong, dominantly northeast-trending electromagnetic ("EM") conductor system, P03, P08 and P12. At P03 and P08 the targeted sub-vertical EM conductors were intersected.

At P12, the hole had to be terminated prior to reaching the interpreted conductor depth. Highlights from the program include: Radioactivity. Elevated total count gamma probe readings were obtained at targets P03 and P08 with a maximum value of 2695 counts per second ("cps") at P03.

Conductor modeling. Three-dimensional plate models of the EM conductor systems were modelled using Maxwell EMIT software. At P03 and P08, the targeted conductors were intersected very close to the depths predicted by the models.

Favorable structures. A brittle graphitic fault zone with angular rubble and clay gouge underlain by gneiss with strong silica alteration and patchy chlorite alteration was encountered coincident with the EM conductor at P03. A brittle fault zone with bleached clay, hematite staining and altered pegmatite explained the EM conductor at P08.

Next Steps. Fault zones and alteration similar to that encountered at P03 and P08 can be associated with basement-hosted uranium mineralization. The forthcoming analytical results integrated with the drill hole data will guide future work related to these two targets.

Target P12 remains untested and should be drilled again to reach the targeted EM conductor depth. It lies within a prominent interpreted structural zone near several other priority targets in the South Walker area. In addition, multiple high priority untested targets on the Property have the potential for basement-hosted uranium mineralization.

Using its proven exploration methods, the Company will continue to prioritize these targets for future field evaluation and drilling. Select samples of drill core have been sent for analysis, and final analytical results are expected in four to six weeks. The geochemical analyses are performed to detect the presence of uranium, pathfinder elements, gold and other metals.

Drillhole FN24001 at target P03 in the north Knob Lake area intersected approximately six metres of overburden followed by an alternating succession of metasedimentary rocks comprised of variably garnetiferous and graphitic pelitic gneisses, cross-cut by numerous plagioclase-dominant granitic pegmatites to 222.53m. Granite with intercalations of biotite-garnetiferous pelite was encountered to the end of hole at 230m. The metasediments between 94-175m were host to an estimated 0.1%-1% pyrrhotite and 0.1-0.5% pyrite.

A blocky fracture zone and interpreted brittle fault with graphite-rich gouge was encountered within the graphitic gneiss unit between 193.48-196.01m; the projected EM conductor intersection depth was 195m. A key interval just below this fault zone associated with strong localized chlorite and silica alteration between 196.5 and 206.3m returned the most notable gamma probe readings. A pegmatite-rich interval from 196.51-196.92m returned a gamma probe reading of 2695 cps.

The combination of the spatial relationship between the graphitic horizon, the structure, alteration and the radioactivity upgrade this target. P03 has the exploration criteria that are important for a basement-hosted uranium mineralizing system. This structure together with other zones of the EM conductor system in the immediate area are prospective as potential conduits for precipitated uranium within basement-hosted graphitic fault zones, and follow-up drilling will be considered.

Drillhole FN24002 was also drilled in the northern Knob Lake Area. After intersecting 30.5 metres of overburden, an alternating succession of metasedimentary rocks comprised of variably garnetiferous and graphitic pelitic gneiss and schists cross-cut by numerous plagioclase and K-feldspar granitic pegmatites was encountered to 132.32m. Granitic gneiss intersected by K-feldspar granitic pegmatites is present until the end of hole at 144m.

The graphitic metasediments throughout the hole were host to up to 30 percent graphite, with localized patches up to 60 percent. The most notable gamma probe results were returned between 42.25-45.95m, within a K-feldspar pegmatitic interval with a peak reading of 2120 cps. This anomalous interval was followed by a brittle fault zone, from 43.90-49.00m, comprised of fractured pegmatites and blocky and rubbly graphitic metasediments.

The entire graphitic schist upper portion of the hole displayed very strong patchy chlorite-cordierite-hematite-illite alteration to 102.27m. From 102.27-105.55m, a brittle pegmatitic and graphitic fault zone was intersected at the projected depth of the Maxwell conductor plate. This lower fault zone displayed strong bleaching (illite+/-sericite) clay alteration, strong hematite and chlorite along fractures and patchy silica alteration.

These alteration minerals can be indicative of a proximal hydrothermal system, The results suggest the possibility that the structures at target P08 could be related to a basement-hosted, fault-controlled mineralizing system and future follow-up drilling will be considered. FN24003 was drilled at P12 in the South Walker area within a prominent interpreted northeast-trending structural zone as defined by EM and magnetics. After drilling three metres of glacial overburden, extensively fractured monzonitic orthogneisses cross-cut by plagioclase and K-feldspar granitic pegmatites was encountered to 52.08m.

A succession of variably garnetiferous and graphitic metasediments cross-cut by plagioclase-rich pegmatites was encountered to the final hole depth of 107.60m. The hole was abandoned before reaching the modelled Maxwell conductor plate depth of approximately 125m due to unstable ground conditions and was not evaluated with the gamma probe. Therefore, the target remains untested and will likely be targeted for drilling in a future program.

Multiple potential targets with favorable geologic and geophysical characteristics were evaluated, and three were selected for drilling. The drill program was managed by Laura Tennent, B.Sc of TerraLogic Exploration Inc, ("TerraLogic"). The drill contractor was Quesnel Brothers Diamond Drilling Ltd. based in Denare Beach, Saskatchewan.