Indigo Kicks Off Drilling Campaign at Promising Uranium Project in Wyoming

Indigo Exploration Inc. (TSXV: IXI) (OTCQB: IXIXF) (FSE: INEN) has initiated a 50-hole drill program at its highly prospective uranium project located in the past producing Shirley Basin of Wyoming. The Hot Property, covering a 5.75 km2 (2.2 miles2) area, has seen over 200 uranium exploration holes completed between 1957 and 1975, providing valuable insights into the uranium mineralization potential of the area. The project is strategically located adjacent to major uranium projects, including Uranium Energy Corp.'s (UEC-NYSE) Shirley Basin project, Ur-Energy Inc.'s (URG-NYSE) Shirley Basin mine, and Nuclear Fuels Inc.'s (NF-CSE) Bobcat Uranium Project.

The 50-hole drill program, anticipated to take 10 days to complete, aims to systematically explore the southern part of the property, focusing on areas with favorable historic intercepts within 53 meters from surface, as well as previously undrilled zones. Holes will be spaced roughly every 160 meters (525 feet) apart, with the primary objective of characterizing the thickness and grade of uranium mineralization through downhole gamma ray geophysical logging. This data will be crucial in developing a stratigraphic framework to broadly model the continuity and configuration of near-surface potentially multiple uranium roll fronts.

The Hot Property is particularly promising due to several key geological factors:

1. Historical Exploration: The property has seen extensive historical exploration, with over 200 uranium exploration holes completed between 1957 and 1975. This historical database provides valuable insights into the uranium mineralization potential of the area.
2. Favorable Intercepts: Some of the historical drill holes encountered favorable intercepts of uranium mineralization, such as:
* H1-Zeb-44: 1.83 meters of 1.1% U3O8 at a depth of 43.0 meters
* H6-Zeb-44: 3.35 meters of 0.28% U3O8 at a depth of 26.8 meters
3. Shallow Mineralization: Approximately 46% of the 202 historical holes intercepted shallow uranium mineralization, with an average depth of 46 meters in the Eocene-aged Wind River Formation, the uranium host unit in the Shirley Basin.
4. Adjacency to Production and Resources: The Hot Property is strategically located just 800 meters east of an historic production area and 1.8 kilometers from Ur-Energy's uranium resource, which hosts an NI 43-101 Measured and Indicated Resource of 8.8 Mlb U3O8 grading 0.23%.
5. Proximity to Infrastructure: The property is located near existing trails, which would provide easy access and minimal surface disturbance for future exploration and development activities.
6. Potential Roll Fronts: The planned 50-hole drill program aims to characterize the thickness and grade of uranium mineralization through downhole gamma ray geophysical logging and develop a stratigraphic framework to broadly model the continuity and configuration of near-surface potentially multiple uranium roll fronts.

The Shirley Basin of Wyoming represents the largest uranium producing state and contains the greatest uranium ore reserves within the United States. The Shirley Basin produced over 51 million pounds of U3O8 from 1960 to 1992 at an average grade of 0.22% U3O8. The Shirley Basin mines closed not for a lack of resource but due to economic factors following the Three Mile Island accident (1979). The importance and relevance of the Shirley Basin today are reflected in production resurgence with Ur-Energy's production plans.

Indigo Exploration's decision to commence drilling on its uranium project in Shirley Basin, Wyoming, is a strategic move that positions the company to capitalize on the growing demand for uranium and the resurgence in uranium mining in the region. The company's focus on systematic exploration, targeting favorable historic intercepts, and developing a comprehensive stratigraphic framework will be crucial in unlocking the full potential of the Hot Property. As the uranium market continues to gain momentum, investors should keep a close eye on Indigo Exploration's progress in the Shirley Basin.