Geiger intercepts uranium at Fox Zone near Orano's Kiggavik deposits

Key Highlights

New Discovery in the First Hole Ever Drilled at Fox: FOX26-001 intersected ~50 metres of elevated radioactivity in 2 zones largely exceeding 100 cps 1 , and locally exceeding 500 cps, from 173 to 230 m depth, with additional elevated radioactivity from near surface to the current end of the 350-metre hole.

A Genuine Greenfield Discovery: Fox had never been drill tested. Geiger targeted it from gravity, magnetic and structural data and made a discovery with the first hole.

Directly on the Kiggavik Trend: Fox sits on the Andrew Lake Fault, along strike from Orano's Kiggavik-area deposits (~133 million pounds of uranium resources 2 ). The corridor extends 17 kilometres across Geiger's Aberdeen Project.

Kiggavik-Style Geology: An altered quartz breccia stockwork reactivated by the Andrew Lake Fault, with intense clay alteration, limonite, sooty pyrite and near-massive specular hematite, the signature of the district's basement-hosted uranium systems.

A Shallow System: Mineralization begins near surface, with the main zone starting at only ~173 metres.

Proof of Concept, the Corridor Is Fertile: Fox validates Geiger's targeting model and shows the Andrew Lake corridor is mineralized beyond the known Kiggavik deposits. Numerous untested gravity anomalies of the same character lie along trend; follow-up drilling at Fox is an immediate priority.

Toronto, Ontario--(Newsfile Corp. - September 1, 2026) - Geiger Energy Corp. (TSXV: BEEP) (OTCQB: BSENF) (" Geiger " or the " Company ") is pleased to announce a new uranium discovery at the Fox Zone on its Aberdeen Project in the Thelon Basin, Nunavut ( Figure 1 and Figure 2 ). The discovery was made in the first drill hole ever completed at Fox, a previously untested greenfield target located directly on the structural trend that hosts Orano's Kiggavik uranium deposits.

The Discovery

Drill hole FOX26-001 intersected 2 main mineralized intervals; a 20 m zone from 173 to 193 m and a 30 m zone from 200 to 230 m where radiometric counts largely exceed 100 cps and include 10-20 cm intervals exceeding 300 cps and locally greater than 500 cps ( Figure 3 and Figure 4 ). Sporadic elevated radioactivity occurs throughout the hole, from near surface to the current end of hole at 350 metres, indicating a shallow mineralized system of the style that has proven most amenable to discovery and delineation elsewhere in the district.

The mineralization is associated with a strongly altered quartz breccia stockwork and reactivation of that stockwork along the Andrew Lake Fault. Alteration throughout the hole is extensive and locally intense: strong clay alteration, limonite, sooty pyrite and hematite, including intervals of near-massive specular hematite ( Figure 5 ). This combination of uranium mineralization, pervasive alteration and significant structural disruption in a single first hole, is the signature of a fertile basement-hosted uranium system and warrants immediate follow-up drilling.

"Fox is exactly the proof of concept we set out to deliver," stated Rebecca Hunter, President and CEO of Geiger Energy. "We drilled one hole into a target that had never been tested and hit uranium mineralization, intense alteration and major structural disruption, the same ingredients that define the Kiggavik deposits along trend from us. Fox tells us two things: our targeting model works, and the fertility of the Andrew Lake corridor extends onto our ground. With 17 kilometres of that corridor on Geiger's property and a series of untested gravity anomalies of the same character, Fox is not just one encouraging drill hole — it potentially opens a new exploration front across Aberdeen."

Why Fox Matters: Directly on the Kiggavik Trend

Fox lies on the Andrew Lake Fault, the key mineralized structural corridor associated with Orano's Kiggavik-area deposits, which collectively host approximately 133 million pounds of uranium resources ( Figure 1 and Figure 2 ). That corridor does not stop at Orano's boundary: it extends approximately 17 kilometres across Geiger's Aberdeen Project, where it hosts numerous untested gravity anomalies, of which Fox is only one. Fox itself comprises two conjoined gravity-low anomalies spanning approximately 1.3 kilometres, of which the first drill hole has tested only a fraction.

The geological and geophysical parallels to the Kiggavik system are direct. The deposits of the Kiggavik district are shallow, basement-hosted uranium systems controlled by fault reactivation and marked by intense clay alteration and hematite, which is the same structural setting, the same alteration assemblage and the same geophysical expression (a gravity low reflecting the altered, structurally disrupted rock mass) now confirmed at Fox. Figure 2 shows the trend, defined by magnetics and structural interpretation, extending from the Kiggavik area onto Geiger's ground and through the Fox target.

Proof of Concept and What It Unlocks

Fox is the first of Geiger's untested "blue-sky" targets to be drilled, and the first hole delivered a discovery. That result is a proof of concept: it demonstrates that Geiger's target-generation model, gravity lows on reactivated structures along the Andrew Lake corridor, identifies real, mineralized uranium systems. It also demonstrates that the corridor is fertile well beyond the known Kiggavik deposits, materially upgrading the prospectivity of every analogous untested anomaly along the 17-kilometre trend on Geiger's ground.

Geiger will prioritize follow-up drilling at Fox to evaluate the mineralized system within the broader 1.3-kilometre gravity anomaly, and will apply the validated targeting model systematically along the corridor to the remaining targets in 2026 and beyond.

Figure 1 : Aberdeen Project map showing the Fox discovery, the Andrew Lake Fault Trend, and Orano's Kiggavik-area deposits along strike.

Figure 2 : The Andrew Lake Fault Trend over total-field magnetics, showing the structural corridor extending from the Kiggavik area across Geiger's ground, the Fox target and additional untested anomalies along trend.

Figure 3 : Core photograph of the strongest mineralized interval in drill hole FOX26-001, starting at approximately 173 metres depth. Mineralization is associated with hematized breccias surrounded by strong clay and bleaching and the highest counts are shown in the red boxes.

Figure 4 : Cross section of FOX26-001 showing the main zone of elevated radioactivity and uranium mineralization.

Figure 5 : Close-up core photograph of strong hematite and bleached rock with uranium mineralization associated with gray sooty sulphide fronts.

1 Radioactivity is reported in counts per second ("cps") as measured on drill core using a handheld GammaGuard CT-007 scintillometer. Scintillometer readings provide a qualitative indication of the presence of radioactive minerals only and are not a substitute for, and may not correlate with, uranium grades determined by geochemical assay.

2 Orano Annual Activity Report and Denison Mines corporate disclosure. Kiggavik mineral resources comprise 127.3 million pounds Indicated grading 0.55% U₃O₈ and 5.4 million pounds Inferred grading 0.33% U₃O₈. The estimate is historical in nature; a qualified person has not completed sufficient work to classify the historical estimate as current mineral resources or mineral reserves and Geiger is not treating the historical estimate as current mineral resources or mineral reserves.

About Geiger

Geiger controls approximately 338,000 hectares in Saskatchewan's Athabasca Basin and 95,519 hectares in Nunavut's Thelon Basin, two of the world's most prospective uranium districts. The Company's flagship Aberdeen Project (Thelon Basin) hosts the high-grade, basement-hosted Tatiggaq and Qavvik discoveries — both shallow systems open along strike and at depth — together with more than 50 high-priority targets, many showing strong alteration and anomalous uranium from limited historical drilling and several, like Fox, previously untested. In the Athabasca Basin, Geiger is advancing the Hook Project, host to the near-surface ACKIO uranium discovery, which comprises at least nine mineralized pods beginning at 28 metres depth and remains open in multiple directions.

Qualified Person Statement

The technical information contained in this news release has been reviewed and approved by Rebecca Hunter, Ph.D., P.Geo., President & CEO of Geiger Energy Corp., a Qualified Person as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects.

For More Information, Please Contact:

Geiger Energy Corp. Rebecca Hunter, Ph.D., P.Geo. CEO, President & Director Email: info@geigerenergy.com Phone: 416-644-1567

Cautionary Statement

Certain information in this news release is considered forward-looking within the meaning of certain securities laws and is subject to important risks, uncertainties and assumptions. This forward-looking information includes, among other things, information with respect to Geiger's beliefs, plans, expectations, anticipations, estimates and intentions. The words "may", "could", "should", "would", "suspect", "outlook", "believe", "anticipate", "estimate", "expect", "intend", "plan", "target" and similar words and expressions are used to identify forward-looking information. The forward-looking information in this news release describes Geiger's expectations as of the date of this news release.

The results or events anticipated or predicted in such forward-looking information may differ materially from actual results or events. Material factors which could cause actual results or events to differ materially from such forward-looking information include, among others, risks arising from general economic conditions; adverse industry events; inability to realize anticipated synergies; future legislative and regulatory developments; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; income tax and regulatory matters; the ability of Geiger to implement its business strategies; competition; currency and interest rate fluctuations and other risks. Readers are cautioned that the foregoing list is not exhaustive.

Geiger cautions that the foregoing list of material factors is not exhaustive. When relying on forward-looking information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Geiger has assumed a certain progression, which may not be realized. It has also assumed that the material factors referred to in the previous paragraph will not cause such forward-looking information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors.

THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF GEIGER AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE GEIGER MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/312335

TMX Newsfile

September 1, 2026 - 3:00 AM PDT

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