Manhattan Uranium Intersects Anomalous Radioactivity in Six Drill Holes at Murmac and Strike

Manhattan completes 4,526.4-metre drill program; uranium assays now pending.

What the company is saying

Manhattan Uranium Discovery Corp. reports the completion of its 2026 summer drill program at the Murmac and Strike Uranium Projects, operated by Fortune Bay Corp. The company emphasizes the technical execution: 24 holes totaling 4,526.4 metres, with 15 holes (2,978.4 m) at Murmac and 9 holes (1,548.0 m) at Strike. Six holes returned radioactivity readings above 300 counts per second (cps), with a peak of 1,890 cps over 0.20 m in hole S26-020 at the Tena target. CEO Galen McNamara frames the results as confirmation of the sought-after geological setting in the Athabasca Basin, highlighting anomalous radioactivity and favourable host rocks. The company is transparent that all radiometric results are preliminary and that uranium grades will only be determined after laboratory assays. Manhattan states it has earned a 51% interest in the projects, with the right to increase to 70% under its option agreement with Fortune Bay. The announcement maintains a confident but measured tone, focusing on technical progress and next steps rather than making economic claims.

What the data suggests

The drill program completed 24 holes for a total of 4,526.4 metres, split between Murmac (2,978.4 m, 15 holes) and Strike (1,548.0 m, 9 holes). Six holes returned radioactivity readings above the 300 cps threshold, with the highest single interval being 1,890 cps over 0.20 m in S26-020 at Strike's Tena target, and broader intervals such as 1.90 m averaging 489 cps. Other notable intervals include 0.81 m at 314 cps (M26-037), 0.56 m at 378 cps (S26-014), and multiple intervals at or just above 300 cps in S26-015 and S26-017. These readings indicate the presence of uranium, thorium, and/or potassium, but do not quantify uranium content; true uranium grades will be determined by pending assays. The company has submitted all relevant core samples for laboratory analysis at SRC Geoanalytical Laboratories. Manhattan currently holds a 51% interest in the projects and can increase this to 70% by meeting further option terms. The technical disclosure is detailed for an exploration update, but no resource estimate or economic assessment is provided, and all results remain preliminary until assays are returned.

Analysis

The announcement provides a factual and detailed operational update on the completion of the 2026 summer drill program, including the number of holes, metres drilled, and specific preliminary radiometric readings. The tone is positive, emphasizing the successful execution of the program and the geological features encountered, but does not overstate the significance of the results. All quantitative claims are supported by disclosed data, and forward-looking statements are limited to standard next steps (awaiting assays, prioritizing future targets). There is no exaggerated language regarding discovery size, resource potential, or imminent value creation. No large capital outlay or immediate financial impact is claimed, and the absence of assay results is clearly acknowledged. The gap between narrative and evidence is minimal, as the release is transparent about the preliminary nature of the findings and the pending status of laboratory assays.

Risk flags

• ●The absence of laboratory assay results means that the economic significance of the radiometric readings is unknown; high cps values do not guarantee commercially viable uranium grades. Until assays are released, the investment case remains speculative.
• ●The company is still in the early exploration phase with no resource estimate or economic study disclosed, so there is material uncertainty regarding the scalability and continuity of any mineralization encountered.
• ●Manhattan's 51% project interest is subject to an option agreement with Fortune Bay Corp., and increasing this to 70% requires satisfying undisclosed remaining requirements, introducing potential execution and ownership risk.
• ●The technical disclosure is comprehensive for radiometric and geological data, but the lack of financial metrics (costs, cash position, funding sources) limits assessment of the company’s financial resilience and ability to fund future work.

Bottom line

Manhattan Uranium Discovery Corp. has completed a substantial 4,526.4-metre drill program at its Murmac and Strike projects, with six holes showing anomalous radioactivity and a peak reading of 1,890 cps over 0.20 m. All results are preliminary and do not quantify uranium content; laboratory assays are pending and will determine the true significance of the findings. The company holds a 51% interest in the projects, with a path to 70% ownership, but the terms for increasing its stake are not detailed. No resource estimate, economic assessment, or financial data is provided, so the investment case hinges entirely on the pending assay results. Investors should focus on the upcoming assay release, as it will be the first real test of whether the encountered radioactivity translates into meaningful uranium grades. Until then, the value proposition remains unproven and high risk.

Announcement summary

(TSXV:MANU) (OTCQB:MAUUF) (FSE:J5B0) (TSXV:FOR) (FSE:5QN) (OTCQB:FTBYF) Manhattan Uranium Discovery Corp. announced the completion of its 2026 summer drill program at the Murmac and Strike Uranium Projects, operated by Fortune Bay Corp. The program consisted of 24 drill holes totaling 4,526.4 metres, with 15 holes (2,978.4 m) at Murmac and 9 holes (1,548.0 m) at Strike, conducted between June and September 2026. Drilling encountered favourable graphitic host rocks, brittle structures, and hydrothermal alteration, with radioactivity of 300 counts per second (cps) or higher reported in six holes. At Strike's Tena target, hole S26-020 returned 1.90 m averaging 489 cps from 59.13 m downhole, including 0.20 m averaging 1,890 cps. Other notable radiometric results include M26-037 with 0.81 m averaging 314 cps from 131.06 to 131.87 m, and S26-014 with 0.56 m averaging 378 cps from 111.27 to 111.83 m. The highest single interval radioactivity was 1,890 cps over 0.20 m in S26-020. The program used a Super-SPEC RS-225 handheld spectrometer for preliminary radiometric readings, which do not quantify uranium grades; laboratory assays are pending. Manhattan has earned a 51% interest in the Murmac and Strike Projects under an option agreement with Fortune Bay Corp., and retains the right to increase its interest to 70% by meeting remaining requirements. The company holds a portfolio of 15 past-producing uranium mines across 25 underexplored properties covering 25,099 acres. Galen McNamara, CEO and Director of Manhattan, stated that the initial drilling confirmed the geological setting sought in the Athabasca Basin and that anomalous radioactivity and favourable host rocks were encountered. Drill core samples from all zones with radioactivity greater than 300 cps have been submitted to SRC Geoanalytical Laboratories in Saskatoon for U₃O₈ assay and multi-element characterization. Results will be integrated with geological logging to prioritize follow-up targets and assess additional regional targets for future drilling. The technical and scientific information in the release was reviewed and approved by Galen McNamara, P.Geo., CEO and Director of Manhattan.

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