A Proven Model and Project in a Uranium Bull Market

Radio Fuel’s flagship property is its 100-percent owned Eco Ridge Project located in Elliot Lake, where more than 300 million pounds of uranium oxide were mined from conglomerate beds by Rio Algom and Denison Mines from 1956 to 1996.

Company Overview

Proven model & project in a uranium cycle

Consolidation and hold is an upheld strategy throughout previous bull markets, providing massive returns to investors

Proven management team

Founded by the same teams behind NexGen Energy (TSX:NXE), Mega Uranium (TSX:MGA), GoldSpot Discoveries (TSXV:SPOT, SPOFF), and New Found Gold (TSXV:NFG)

Upside to rare earths

Unparalleled leverage to rare earths, with roughly 50% of the uranium resource comprising of rare earth metals

Working capital

Strong working capital balance of $23-million

Nuclear is ideal for dealing with climate change, because it is the only carbon-free, scalable energy source that’s available 24 hours a day.

Bill Gates

I think modern nuclear power plants are safe contrary to what people may think.

Elon Musk

Uranium Macro Outlook

Global Demand For Electricity to Grow 76% by 2030

Uranium miners have all curtailed production creating a significant supply/demand deficit

Long-term contracts that were negotiated in the previous cycle are now expiring resulting in utility companies now needing to renegotiate at normalized pricing

Increasing acceptance as an ESG investment and an important source of clean-energy

Continuing low prices have halted the development of new mines causing a lack of replacement supply as older mines come offline

USA

US electricity generated from nuclear power:

20% Overall
55% of Carbon-free energy

World

Worldwide electricity generated from nuclear power:

11% Overall
33% of Carbon-free energy

Reactors

Reactors in number:

443 Operating Reactors
52 Reactors under construction
400+ Over 400 reactors ordered, planned, or proposed

Radio Fuel’s Flagship Property

ECO RIDGE

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Mineral Resource Estimate August 19, 2021

Classification Tonnes U3O8 Total REO U3O8 Equivalent
(000 t)(%)(000 lbs)(ppm)(000 lbs)(%)(000 lbs)
Indicated22,3060.04522,2901,61379,3140.08139,920
Inferred36,9550.04637,7281,560127,1010.08267,208

300+ million pounds of uranium oxide mined.

Radio Fuel’s flagship property is its 100-percent owned Eco Ridge Project located in Elliot Lake, where more than 300 million pounds of uranium oxide were mined from conglomerate beds by Rio Algom and Denison Mines from 1956 to 1996.

371 Crown Cell Claims and 4 Mining Leases.

Property consists of 371 Crown Cell Claims and 4 Mining Leases covering a surface area of ~7,800 hectares.

107 historic drill holes drilled between 1953-1974.

107 historic drill holes drilled (~29,000m total) between 1953-1974. Previous owner, Pele Mountain Resources Inc., drilled 232 drill holes (44,000m total) between 2007-2011.

Good standing until the 2030s.

Work carried out by previous owners has accumulated work credits to maintain the Crown Claims in good standing into the 2030s.

Uranium and REE mineralization outcrops.

Uranium and REE mineralization outcrops on surface over a 5-kilometer strike length.

238 Pele Mountain & historic drill holes (44,000m total).

Updated Mineral Resource estimate based on 238 Pele Mountain & historic drill holes (44,000m total). Drilling outlined a resource to a depth of 1,000m along a strike length of 4,000m.

Legend

  • Eco Ridge Project
  • Eco Ridge Expansion Project
  • Appia Energy Corp
  • NI 43-101 Comliant Resource
  • Major Faults
  • Claim Fabric (Aug 2021)

Eco Ridge Expansion

Sault Ste. Marie
Mining Division

The Eco Ridge Expansion Property is located in the Sault Ste. Marie Mining Division of Ontario in Joubin and Gunterman townships.

400 Hectares

Comprises 25 contiguous patented mining claims covering approximately 400 hectares.

$.07 Per Historic Pound

Entered agreement on Dec. 14, 2021, to acquire property for 200,000 shares, or $0.07 per historic pound.

9,744,000 lbs of
contained U3O8

Diamond drilling from 1953-54 by Abeta Mining Corp., and again in 1977 by Lac Minerals outlined a deposit with reported historic reserves of 12,992,000 tons with an average diluted grade of 0.75 lbs U3O8 per ton for approximately 9,744,000 lbs of contained U3O8 (Robertson, 1977).

Historical Resource Estimate* 1977

Classification Tonnes U3O8
(000 t)(lbs U3O8 )(000 lbs)
Historical12,9920.759,744
*These mineral reserve calculations do not conform to the current National Instrument 43-101 - Standards of Disclosure for Mineral Projects.

Proven Asset In Uranium Cycle

Eco Ridge Resource & Valuation

Compared to its peers, Radio Fuels is the CHEAPEST on a $/lb basis

If Radio Fuels trends towards the average, it can command a $480M valuation, or a gain of 1,440%

CSE: CAKE

Capital Structure

Ticker
cse: CAKE
Shares Outstanding (M)
141.9
Options (M)
13.2
Warrants (M)
32.8
FD Shares Outstanding (M)
187.9
Cash & Securities (C$M)
~$25.0
Debt (C$M)
NIL