Mike Fagan,
Editor
May 29, 2026
North Shore Uranium Ltd. (TSX-V: NSU)(OTCQB: NSURF) — currently trading around C$0.25 per share in a robust uranium market — has received all permits required for its maiden drill program at the Rio Puerco uranium project in New Mexico’s historic Grants Uranium District.
With both state and federal approvals now secured and the drill contractor mobilized, the company expects drilling to begin shortly.
North Shore Uranium CEO Brooke Clements commented on the forthcoming program via press release:
“We look forward to getting the drill turning at Rio Puerco soon. The Rio Puerco Project represents an exciting growth opportunity for North Shore and we look forward to validating the historical work completed by Kerr-McGee and confirming the significant exploration potential of the Project. World energy demand is increasing and the United States has indicated an intention to increase its domestic uranium supply, and we believe this supports advancing a project like Rio Puerco.”
The initial program at Rio Puerco will comprise up to 26 drill holes with a focus on validating historical exploration results, refining geological models, and advancing the project toward a future NI 43-101-compliant resource estimate.
Rio Puerco represents a potentially transformational asset for NSU. The project hosts a historical, non-compliant resource estimate of 11.4 million pounds of U₃O₈ and benefits from an extensive historical database generated by major uranium producer Kerr-McGee, which drilled more than 1,100 holes and advanced the project to a trial mining stage during the 1970s.
The property is situated within New Mexico’s Grants Uranium District, the largest historical uranium-producing district in the United States.
Notably, the NSU team believes the project may be amenable to lower-cost in-situ recovery (ISR) mining, a production method that has become increasingly important throughout the North American uranium sector.
Beyond Rio Puerco, North Shore maintains exposure to two additional uranium projects in Saskatchewan’s famed Athabasca Basin.
Falcon Property
The company’s flagship Falcon project is located near Cameco’s Key Lake uranium mill in the Athabasca Basin — the world’s premier uranium district.
During its maiden drill program at Falcon in March 2024, North Shore discovered new near-surface uranium mineralization, highlighting the property’s exploration potential.
More than 36 exploration targets have now been identified across the 55,503-hectare project, including 11 priority targets that could support future drill programs.
West Bear Property
NSU also recently earned a 100% interest in the West Bear project, located on the eastern edge of Saskatchewan’s Athabasca Basin adjacent to uranium assets held by Uranium Energy Corp.
With modern geophysical surveys completed and priority target areas identified, management is continuing to advance the project toward future drill testing.
As the push to secure North American uranium supply continues to gain momentum, North Shore Uranium is advancing multiple exploration and development projects in parallel across its US and Canadian uranium portfolio.
With drilling set to begin at Rio Puerco, ongoing advancement at Falcon and West Bear, and uranium currently trading around US$85 per pound, NSU is entering a transformative phase of exploration activity.
For more information on British Columbia-based North Shore Uranium, please contact the company’s IR department at 604-536-2711 or via email at brooke.clements@telus.net.
Visit the North Shore Uranium corporate website and sign up to receive updates directly from the company here.
View the most recent Corporate Presentation here.
Yours in profits,
Mike Fagan
Editor, Resource Stock Digest
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