Kirkstone continues due diligence for Key Lake Road

Nov 4, 2025

2025-11-04 09:32 ET – News Release

Mr. Clive Massey reports

KIRKSTONE METALS PROVIDES PROGRESS REPORT ON DUE DILIGENCE TO ACQUIRE KEY LAKE ROAD URANIUM PROJECT

Kirkstone Metals Corp. has provided an update on the progress of its due diligence review of the Key Lake Road (KLR) uranium project , located within the Athabasca basin region of Northern Saskatchewan, Canada.

Following the news release on Oct. 5, 2025, the company has advanced a detailed technical, legal and environmental assessment of the KLR project. Field verification, data compilation and third party geological analysis are well under way. While no specific completion date has been established, Kirkstone anticipates concluding its review in the near term.

Clive Massey, president of Kirkstone, stated: “We are encouraged by the progress of our due diligence work at Key Lake Road. The project’s location and underlying geology are consistent with the structural corridors that have historically hosted some of the world’s highest-grade uranium deposits. We are proceeding with care and discipline to ensure our assessment meets the technical and governance standards expected of a company operating in this important jurisdiction.”

Global market context

Kirkstone’s review of the KLR project occurs against the backdrop of a structurally strengthening uranium market and a reassessment of nuclear power’s role in the global energy transition.

According to the World Nuclear Association (World Nuclear Fuel Report 2025), uranium demand is forecast to increase by approximately 5 per cent to 7 per cent annually through 2040, while existing mine production is expected to satisfy only about 40 per cent of projected requirements.

The Financial Times has recently noted that a global uranium shortfall threatens to slow the nuclear energy renaissance, underscoring the urgency of new project development and reinvestment in stable jurisdictions such as Canada.

At the same time, rapidly expanding electricity demand from AI-driven (artificial intelligence) data centres has renewed focus on the need for reliable, carbon-free baseload power. As Investor’s Business Daily reported, leading nuclear-sector producers such as Cameco are positioned to literally fuel AI data centres as one of the few 24-hour-a-day/seven-day-a-week low-emission power sources available.

Further emphasizing this trend, the Financial Times observed that Canada is positioning to become the world’s largest uranium producer amid accelerating global demand.

Commitment to responsible development

Kirkstone continues to conduct its due diligence activities in accordance with the highest environmental, safety and governance standards. The company is engaging with local stakeholders and indigenous communities to ensure that any future work programs are developed collaboratively and transparently.

Upon completion of the due diligence process, the company expects to determine next steps toward a definitive agreement and will provide an update at that time.

About Kirkstone Metals Corp.

Kirkstone Metals is a Canadian mineral exploration company focused on uranium assets that support the clean-energy transition. The company is committed to disciplined capital allocation, technical excellence and the advancement of projects aligned with long-term energy-security priorities.

Qualified person

The technical information in this news release has been reviewed and approved by Tim Henneberry, PGeo, a director of the company and a qualified person as defined under National Instrument 43-101, Standards of Disclosure for Mineral Projects.

Kirkstone cautions investors that it has not yet verified the historical exploration information.

We seek Safe Harbor.

https://www.kirkstonemetals.com/