Introduction

In the dynamic world of uranium exploration, few companies boast a team with as proven a track record as F4 Uranium (TSX.V: FFU). Recently spun out from F3 Uranium, F4 is poised to leverage its expertise in the Athabasca Basin, one of the world's premier uranium districts. Erik Sehn, the newly appointed Vice President of Exploration for F4 Uranium, shared insights into his background, the company's portfolio, and future plans..

Erik Sehn's Journey in Uranium Exploration

Erik Sehn's path to becoming VP of Exploration at F4 Uranium is rooted in a strong educational foundation and hands-on experience in some of the Athabasca Basin's most significant discoveries. Born and raised in Calgary, Alberta, Sehn pursued a geology degree at the University of Calgary. His professional career began at Fission Uranium, where he worked as a geologist on the Patterson Lake South (PLS) project, including the renowned Triple R deposit. This early involvement provided him with foundational skills in core logging and project execution.

The COVID-19 pandemic marked a pivotal shift in 2021 when Sam Hartman and Ray Ashley approached Sehn about joining F3 Uranium in a more advanced role focused on project management. Over the next few years, Sehn contributed to major breakthroughs, including the JR Zone discovery and the recent Tetra Zone find in 2025. When F4 Uranium was spun out from F3, Sehn was offered the VP position, which he eagerly accepted. His track record includes involvement in the JI Zone at Waterbury Lake, Triple R at PLS, JR Zone, and Tetra Zone—demonstrating a consistent ability to navigate complex exploration challenges.

Lessons from Past Discoveries: Challenges and Breakthroughs

Sehn emphasized that F4 Uranium's strength lies in its experienced team, which has delivered two major discoveries in the last three years alone. However, uranium exploration in the Athabasca Basin is far from straightforward. "It's always really hard to find a deposit," Sehn noted, underscoring that success requires large teams, meticulous planning, and significant resources. Drilling in Saskatchewan is notoriously expensive, with costs varying based on location, depth, and conditions such as overburden and sandstone layers.

Reflecting on specific projects, Sehn highlighted the JR Zone's early drilling troubles, including a fortunate "major hit" on the first discovery hole, which shifted focus to efficient delineation. In contrast, the Tetra Zone presented weaker geophysical signals, requiring persistent refinement to pinpoint targets. These experiences have shaped F4's approach: emphasizing foresight in geophysics and drilling programs, adapting to site-specific challenges, and learning from each discovery to improve future efforts. Sehn is optimistic that this accumulated knowledge will drive success at F4.

F4 Uranium's Portfolio: A Vast and Strategic Land Package

F4 Uranium controls an impressive portfolio of 17 projects spanning over 165,000 hectares across the eastern and western flanks of the Athabasca Basin. Many of these properties are strategically located near established high-grade deposits like Triple R, Arrow, and Hurricane, positioning F4 in proven uranium corridors. Sehn provided a high-level overview, stressing the company's focus on underexplored areas with high discovery potential.

Todd Project: High Excitement in an Emerging District

Among the portfolio, Sehn singled out the Todd project as particularly exciting. Situated east along the Patterson Lake corridor—home to Arrow and PLS—and just four kilometers south of the new Tetra Zone, Todd has seen minimal historical work. With no drill holes and limited geophysics to date, it represents a blank canvas in a "hot" district. Nearby activity from companies like NexGen Energy adds to the buzz. F4 plans to prioritize Todd, starting with geophysics to identify targets for future drilling.

Wales Lake: Building on Recent Drilling Success

In 2025, F4 completed its inaugural drilling program at Wales Lake, near NexGen's Arrow deposit. Two holes intersected multiple graphitic structures and extended a conductive corridor by approximately two kilometers. While geochemical results are pending, Sehn described this as an early-stage test. A recent VTEM (Versatile Time-Domain Electromagnetic) survey infilled gaps in coverage, revealing new conductors detailed in a recent news release.

The data suggests potential for basement-hosted uranium mineralization, with graphitic structures often associated with uranium deposits in the basin. Next steps include data assessment, followed by ground geophysics to refine targets. Sehn stressed the importance of cost-effective targeting given high drilling expenses: "We want to make sure we're in on good targets before doing big drill programs."

Murphy Lake: Joint Venture Momentum in a Competitive Area

Murphy Lake stands out for its proximity to the Hurricane deposit and recent discoveries like Purepoint Uranium's Nova find. F4 holds an option to earn up to 70% interest through a joint venture with Stearman. This partnership allows for an $18 million spend, enabling extensive exploration without straining F4's resources.

Past drilling in 2022 yielded encouraging results, including graphitic conductors. Located southeast of the Larocque Trend (host to Hurricane), Murphy Lake features its own conductive features, with one hole hitting a strong graphitic zone. Plans include ground geophysics on the western portion and infill work to develop targets. Sehn expressed enthusiasm for collaborating with partners to accelerate progress.

Cree Bay: Underexplored Potential Along the Snowbird Tectonic Zone

Cree Bay, near Orano and Forum Energy's Janice Lake project, shows promise with historical drill results indicating elevated uranium values. Only two holes have been drilled to date, revealing deeper-than-expected unconformity depths that could signal major structural offsets—key for uranium mineralization. However, the depth increases drilling costs, and much of the property lies under a lake, complicating logistics.

F4 aims to update geophysics with airborne surveys, followed by ground work to generate drill-ready targets. Sehn views Cree Bay as part of the Snowbird Tectonic Zone extension, with its underexplored status offering significant upside.

Grey Island: Refining a Large Eastern Asset

Located 50 kilometers west of the historic Key Lake Mine, Grey Island is a large eastern Athabasca project with minimal drilling. Historical holes show alteration indicative of uranium potential, but the property hasn't been explored in years. Comparable to nearby high-grade systems in geology, it features similar structural and lithological elements.

Plans involve initial airborne geophysics to identify priorities, potentially resizing the project to focus on high-potential areas. Sehn noted the high costs of maintaining large tenures, emphasizing a strategic cull to optimize resources.

Western Portfolio: Clearwater West, Smart Lake, and Synergies with Neighbors

On the western side, F4's assets include Clearwater West (previously optioned to SKRR Exploration), Smart Lake, and the mentioned Todd and Wales Lake. These projects cluster near Highway 955, easing logistics, and are proximal to Triple R, Arrow, and Tetra Zone. Smart Lake is smaller and early-stage, while Clearwater and Wales boast strong conductors.

Sehn highlighted the potential benefits from NexGen's infrastructure development, such as camps and runways, which could lower costs and improve access. The team plans to apply innovative geophysics, drawing from past successes in experimental techniques.

Emerging Tools and Technologies in Exploration

When asked about new tools, including AI, Sehn acknowledged their growing role but noted limited application at F4 due to the early-stage nature of most projects. AI excels with large datasets, which F4's properties—often with few drill holes—lack. However, the team remains open to innovation, having historically embraced unconventional methods. As projects advance, AI could play a larger role in data integration and target generation.

Balancing Independence and Partnerships

As a hybrid project generator and explorer, F4 aims to maintain flexibility. Joint ventures, like the one at Murphy Lake, provide funding and diverse expertise, allowing F4 to advance multiple assets. Sehn stressed the value of partnerships for risk-sharing while retaining control over core projects. The company is open to new JVs but confident in its team's ability to handle projects from grassroots to discovery.

The Team Driving F4 Uranium

F4's leadership includes industry veterans: Dev Randhawa as Chairman, Ray Ashley as CEO, and Sam Hartman as President—all instrumental in discoveries like JI Zone, Triple R, JR Zone, and Tetra. Supported by a robust technical team, this group brings comprehensive experience in uranium exploration, from geophysics to development.

Looking Ahead: Milestones and News Flow

F4's short-term goals focus on portfolio optimization: assessing all 17 properties to prioritize high-potential ones like Murphy Lake, Todd, Clearwater, Cree Bay, and others, while potentially divesting underperformers to reduce costs. Expect news on geophysics programs, target refinement, and drilling in the coming years. Sehn anticipates steady updates as F4 advances toward discoveries, maintaining a proactive stance in the uranium sector.

Conclusion

F4 Uranium, under Erik Sehn's exploration leadership, is strategically positioned to capitalize on the Athabasca Basin's uranium potential. With a seasoned team, prime land holdings, and a balanced approach to exploration, the company is set for an exciting future. As Sehn concluded, success in this field demands patience, precision, and innovation—qualities F4 embodies. Investors and industry watchers should keep an eye on F4's progress, always remembering to conduct due diligence as emphasized in the interview.

Watch the interview with Erik Sehn here:

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