Marvel Acquires Costigan Lake Uranium Property, Athabasca Basin

VANCOUVER, BC / ACCESSWIRE / October 12, 2023 / Marvel Discovery Corp. (TSX-V:MARV)(Frankfurt:O4T)(OTCQB:MARVF); ("Marvel" or the "Company") is pleased to announce that the Company has entered into an agreement to acquire the Costigan Lake Uranium project, which covers 5,518ha located on the eastern side of the Athabasca Basin. The acquisition enhances Marvel's land portfolio of uranium holdings at Key Lake, which is adjacent to Cameco, F3 Uranium, Skyharbour, and Abasca Resources. This acquisition increases the Company's footprint to 4 distinct projects covering over 23,130ha and is in line with Marvel's aggressive approach to project generation and exploration. The company is utilizing the same innovative techniques that have led to some of the largest discoveries in the Athabasca Basin including radon surveys, ground geophysics, underwater spectrometer analysis, and airborne radiometric surveys.

Costigan Lake Highlights

• Strategically located 25km southwest of Cameco's Key Lake Mine and mill complex and is perfectly situated along the Wollaston-Mudjactic Transition Zone ("WMTZ"), which hosts the highest-grade uranium mines in the world.
• Infrastructure: proximal to or within 8kms to the Highway 914 - a primary year-round maintained road servicing the operational Key Lake Mill.
• Prospective Geological Setting: within the "WMTZ" Zone - the same basement rocks that host all of the major uranium deposits on the east side of the Athabasca Basin.
• On trend with some of the world's largest Uranium Mines: Key Lake, Cigar Lake and McArthur River.
• Adjoins F3 Uranium's (TSXV:FUU) Hobo Project who just announced a $15 million investment from Denison Mines (see press release dated Oct 6, 2023).
• Adjoins Abasca Resources (TSXV:ABA) Key Lake South Project, who just completed a 4,959 m drill program with 9 of the 11 holes intersecting anomalous uranium (see press release dated May 24, 2023)
• Several high-merit exploration targets: over 16 km of subsurface conductors lying within a magnetic low within the "WMTZ".
• Additional targets include anomalous radioactive boulder trains, first discovered in 1978 by Rainbow Oil Limited.
• The Property has limited systematic modern-day exploration, which presents blue sky potential.

Mr. Karim Rayani, Chief Executive Officer, commented, "Marvel has completed an almost impossible task of acquiring key ground in the prolific Key Lake Corridor. The addition of the Costigan Lake Property is within the WMTZ and the Key Lake Shear Zone, which represents tremendous opportunity. We are active in the richest uranium belt in the Basin and on trend with world class discoveries. Marvel's approach is nothing short of Marvelous: going after multi commodity- large scale projects that mimic the success of basement-hosted uranium deposits found on the western side of the Athabasca Basin, such as NexGen Energy's Arrow Deposit. We look forward to a very busy winter season of exploration in the Basin."