Future Fuels Identifies Key Uranium Targets in Arctic Exploration Program

Future Fuels CA36118K1084

Future Fuels has reported significant progress at its uranium project in Canada's Arctic region. The company's latest gravity survey in the Hornby Basin has delineated several high-priority targets, suggesting the potential for a larger uranium system. This development marks a crucial step for the explorer as it advances toward a planned drilling campaign, forming a key part of its narrative for 2026.

On the stock market, the news was received positively. The shares are currently trading at €0.50, slightly below the previous day's close of €0.52. This price remains comfortably above the average levels seen in recent months and is significantly higher than the 52-week low.

Supporting its technical progress, Future Fuels announced a 60-day marketing agreement with Germany's MCS Market Communication Service GmbH, effective January 9, 2026. The €155,000 campaign is designed to boost the company's profile with investors across Europe and North America. For an exploration-stage company, such communications initiatives are a standard component of building awareness for new projects and upcoming work programs.

Detailed Survey Results Reveal Six Anomalies

In mid-January, the company released the full findings from its 2025 gravity survey at the 100%-owned Hornby Basin project in Nunavut. The data, collected by EarthEx Geophysical Solutions, represents what Future Fuels describes as the most comprehensive gravity dataset yet assembled for this uranium district.

The program, which ran from mid-September to early October 2025, utilized multiple Scintrex CG-5 gravimeters paired with precise RTK-GNSS systems. Future Fuels integrated these new measurements with existing data from 2022 and 2024, more than doubling the volume of the historical IsoEnergy dataset.

The core achievement of the survey is the definition of six prioritized gravity anomalies, labeled Grav_Anom_1 through Grav_Anom_6. These targets are situated in areas characterized by major fault zones, stratigraphic boundaries, and known uranium mineralization. A particularly compelling area is the structurally complex region south of the Imperial Fault, which hosts the historical Mountain Lake uranium system.

Validation and New Discovery

The Grav_Anom_5 anomaly is of central importance. It exhibits a pronounced local gravity high that aligns spatially with the known footprint of the Mountain Lake system. This correlation is geologically significant, as it validates gravity data as a direct exploration tool for uranium systems within the Hornby Basin.

Adjacent to this, the newly defined Grav_Anom_6 presents a fresh exploration target. It shares similar structural settings with Mountain Lake, yet this area has no history of prior drilling. Furthermore, two additional anomalies within the central structural block extend beyond the limits of the 2025 survey area, hinting at potential extensions into previously unexplored zones.

Key takeaways from the data include:
* Six prioritized gravity anomalies identified in the Hornby Basin.
* Grav_Anom_5 correlates directly with the established Mountain Lake uranium system.
* Grav_Anom_6 established as a new, untested target within the same structural trend.
* Several anomalies extend beyond the current survey boundaries, indicating potential for growth.

In a statement, CEO Rob Leckie emphasized that the gravity response over Mountain Lake provides clear targets and that the new anomalies exhibit features indicative of a substantially larger uranium system. Management expressed confidence in advancing these targets to the next exploration phase, specifically into a drilling program.

Roadmap for 2026 and Financial Backing

Leveraging the new data, the company is preparing its next technical steps. Planned work includes:
* 3D inversion modeling of the gravity dataset.
* 2D forward modeling and application of advanced filtering techniques.
* Integration of all results into the 2026 exploration plan.

This plan envisions a drilling program of approximately 10,000 meters, supplemented by additional geophysical work and the establishment of a seasonal camp at the project site. This will translate the newly defined targets into concrete drill tests—the definitive assessment of the anomalies' quality.

Financially, Future Fuels has already secured the foundation for this work. The company completed a CAD $2.2 million financing in October 2025 and reported liquid funds of CAD $4.02 million at the latest reporting date. Additionally, on January 7, 2026, the company uplisted to the OTCQX Best Market in the United States, enhancing its visibility for North American investors.

The company's fiscal year ends on April 30. Its financial results for the second quarter of fiscal 2026 were released on December 18, 2025. According to the financial calendar, the next earnings release (Q1 FY 2027) is scheduled for September 24, 2026. In the interim, investor focus will likely center on the progress of the drilling permit process initiated in December 2025 and the concrete launch of the planned 10,000-meter program in the Hornby Basin—where the true substance of the identified targets will be determined.