Frequently Asked Questions

Plain answers to the questions most commonly asked about our New Mexico uranium exploration project.

These questions reflect the concerns and inquiries we have heard from community members, journalists, investors, and regulators since our Mesa Arc Project became the subject of public discussion in early 2026. We have answered each one directly and factually. If you have a question not covered here, please contact us at connor@gammaresourcesltd.com or through our website.

THE PROJECT — WHAT IT IS AND ISN'T

Q1: Is this a uranium mine?

No. Mesa Arc is an early-stage uranium exploration project. No mine has been designed, planned, or proposed. What Gamma has filed with the U.S. Forest Service is a Notice of Intent to conduct exploratory drilling — a program of up to 12 drillholes to collect geological data. An exploratory drillhole is a narrow hole, not a mine. The purpose is to gather scientific information, not to extract uranium.

Q2: What exactly is Gamma proposing to do?

In the initial phase, Gamma proposes two things:

  • An airborne geophysical (VTEM) survey — a helicopter flying systematic transects at altitude to collect electromagnetic and magnetic data about subsurface geology. No ground contact whatsoever.
  • A drilling program of up to 12 exploratory drillholes targeting the Jackpile Member of the Morrison Formation at depth. These narrow-diameter holes would collect rock core samples for geological analysis. Forest Service review and approval required before any ground work can begin.

Q3: Will this lead to a uranium mine?

That is unknown at this stage, and that is precisely the point of exploration. The exploration program is designed to answer the scientific question of whether economically significant uranium mineralization exists within the claim area. If the data supports consideration of development, that would trigger a completely separate and far more extensive permitting process — including a full Environmental Impact Statement, public hearings, state mining permits, and additional regulatory reviews. Gamma is nowhere near that stage and may never be. No development decisions have been made, and none can be made until the science is done.

Q4: How big is the proposed footprint?

The proposed initial program is deliberately minimal:

  • Up to 12 exploratory drillholes — narrow-diameter (roughly the size of a soda can)
  • Approximately 800 feet of temporary access road to drill sites
  • Temporary drill pads, in use for approximately 30 days per site
  • All temporary infrastructure restored to original condition after completion
  • All drillholes properly plugged and abandoned upon completion
  • The airborne geophysical survey involves no ground contact at all

Q5: Where exactly is the project located?

The Mesa Arc Property covers approximately 820 acres across 41 unpatented lode mining claims in Rio Arriba County, New Mexico, within the Carson National Forest. The center of the claim block lies approximately 7 kilometres south-southeast of the village of Canjilon, and approximately 92 kilometres north-northwest of Santa Fe via US Route 84. The property is accessed via Carson National Forest Service Road 455. All claims are on federal land administered by the U.S. Forest Service.

THE COMPANY — WHO IS GAMMA RESOURCES?

Q6: Is Gamma Resources a foreign company?

Gamma Resources is listed on the TSX Venture Exchange in Canada, a common structure for junior resource companies globally that provides access to specialized capital markets. The Company was established to support responsible domestic U.S. uranium development and operates through its U.S. subsidiary, Medallion Research USA, Inc. Gamma’s mining claims are held under U.S. federal law, and its exploration activities are focused in the United States. Describing Gamma as a “foreign company” overlooks where the Company operates, the jurisdiction governing its activities, and its focus on supporting the U.S. uranium supply chain.

Q7: Who is behind this project?

Gamma Resources is led by an experienced team with backgrounds spanning uranium exploration, geology, mining finance, and capital markets. To learn more about the Company’s leadership, technical advisors, and board members, please visit the Management & Advisors and Board of Directors pages on the Gamma Resources website.

Q8: Why is Gamma listed in Canada if it's an American project?

Listing on the TSX Venture Exchange is standard practice for junior mineral exploration companies globally, including many founded and led by Americans. The TSX-V provides access to the world's deepest capital markets for early-stage mineral exploration — markets that specialize in exactly this kind of project. It has no bearing on where the company operates, who leads it, or what legal framework governs its activities in the United States.

WATER, ENVIRONMENT & COMMUNITY

Q9: Will this affect the Chama watershed or local water supply?

Based on all available data, the answer is no — and here is the specific, documented basis for that answer:

  • The NI 43-101 technical report for Mesa Arc, prepared by independent qualified geologist Anders Hogrelius, documents that historical drilling in the area determined the depth to the groundwater table exceeds 300 metres — well below the Jackpile Member target formation and well below the depth of any proposed exploratory drillhole.
  • The proposed drillholes will not reach the groundwater table.
  • Modern exploratory drillholes use sealed steel casing with containment standards specifically designed to prevent subsurface cross-contamination.
  • Additionally, the planned VTEM airborne survey will generate detailed subsurface groundwater mapping data for this area. Gamma intends to share that data with the Carson National Forest and relevant local resource management bodies as a public benefit.

Q10: How is this different from the uranium mining that harmed communities in the Navajo Nation and the Grants Mineral Belt?

  • Type of activity: The historical harms resulted from large-scale open-pit and underground mining and milling operations that ran for decades. Gamma is proposing early-stage exploratory drilling — narrow drillholes to collect data.
  • Regulatory framework: The historical mining operations, particularly those in the 1950s–1970s, occurred under virtually no environmental regulation. Modern exploration is subject to federal NEPA review, Forest Service permitting, state regulations, and cultural resource protection requirements that simply did not exist then.
  • Location: The Navajo Nation and Grants Mineral Belt are geographically separate districts with different geology, hydrology, and community circumstances. They are not analogous to the Chama Basin.
  • Stage: Gamma has not extracted a single gram of uranium. The exploration program generates scientific data; it does not produce ore.
  • We take the historical harms seriously. We do not believe they are relevant to an early-stage, modern, federally regulated exploration program in a different location.

Q11: Was the community notified before Gamma filed its Notice of Intent?

The Notice of Intent filing with the U.S. Forest Service is the formal notification mechanism prescribed by federal law for this type of activity. It is not a private action — it is a public regulatory filing that initiates the Forest Service's review process, which in turn involves formal public scoping if a Plan of Operations level review is required. That process formally consults local governments, conservation districts, acequias, grazing permittees, and the public at large. Gamma recognizes that the regulatory process is not a substitute for direct community engagement, and we are committed to meeting with local leaders, community members, and organizations to listen and to answer questions directly.

Q12: What about Project Gasbuggy? What about the Gold King Mine spill?

Project Gasbuggy was a 1967 underground nuclear detonation experiment conducted by the federal government in the Carson National Forest — an experiment to test whether nuclear weapons could be used for natural gas extraction. It has no connection to private uranium exploration. The Gold King Mine spill was a 2015 drainage incident at an abandoned hard rock mine in Colorado. Neither event is geographically, technically, or operationally related to modern exploratory drilling in the Chama Basin. We understand why these events are part of the community's memory of government and industrial activity in this region, and we take that context seriously. But conflating them with a 2026 exploratory drilling program under federal oversight does not reflect the facts.

THE REGULATORY PROCESS

Q13: What permits does Gamma need before any drilling can begin?

No drilling can begin until the following steps are completed:

  • The U.S. Forest Service must complete its environmental review and formally approve the project.
  • A permit from the New Mexico Mining and Minerals Division must be obtained.
  • An environmental resource survey conducted by Gamma's retained environmental consulting firm must be completed.
  • The Forest Service has publicly confirmed: “No drilling can start until environmental analysis is completed and the project is allowed to move forward.”

Q14: Does this project require a full Environmental Impact Statement?

The level of environmental review required is determined by the U.S. Forest Service. For exploration activity on Forest Service land, the Forest Service assesses whether the proposed activity constitutes "significant surface disturbance." If it does, a more comprehensive review including NEPA analysis is required. If it does not, a Notice of Intent level review applies. For a program of this limited scope — up to 12 drillholes, approximately 800 feet of temporary road, 30-day operation — the appropriate review level has not yet been determined. Gamma will complete whatever review the Forest Service requires.

Q15: What is a Notice of Intent, and why did Gamma file one?

A Notice of Intent (NOI) is the legally required first step for any exploration activity on U.S. Forest Service land that involves ground disturbance. Filing an NOI is not a permit to drill — it is a formal notification that initiates the Forest Service's review process. The Forest Service then determines what further review, consultation, and permitting is required before any work can proceed. Filing an NOI is the correct, lawful way to initiate the permitting process for this type of activity. Gamma filed its NOI in late February 2026.

Q16: Can the community participate in the review process?

Yes. If the Forest Service determines that a Plan of Operations and NEPA review is required, the process formally includes a public scoping period during which the Forest Service consults local governments, conservation districts, acequias, grazing permittees, Tribal governments, and the general public. Comments from the public are part of the official record. Additionally, Gamma is committed to direct engagement with the community independent of the regulatory process — we are not waiting for a formal public comment period to begin those conversations.

HISTORY & GEOLOGY

Q17: Has this area been explored for uranium before?

Extensively. The area has a documented history of uranium exploration by major American companies and federal agencies spanning more than 70 years.

  • 1954: The U.S. Atomic Energy Commission (AEC) discovered uranium in outcrop at Martinez Canyon and conducted channel sampling and exploration pitting.
  • 1968–1981: Anaconda Mining / ARCO staked and acquired 650+ claims and drilled approximately 300 holes on the adjacent Martinez Canyon block alone. Over 900 holes were completed in the wider area.
  • 1969–1982: United Nuclear Corp. / Tennessee Valley Authority staked claims and conducted wide-space drilling over a 1,000-metre strike length.
  • Early 2000s: Magnum Uranium Corp. conducted additional drilling and completed an internal resource calculation.
  • Historic drillhole markers from prior operators are physically present on the current claim blocks today.

Q18: Why does Gamma call this an "advanced" project if no current drilling has been done?

"Advanced" in the exploration context refers to the quality and depth of the existing historical dataset — not to the stage of Gamma's own work. The project benefits from over 900 historic drill holes, extensive gamma-ray probe data, detailed geological mapping, and multiple historical resource calculations. Replicating that dataset at today's costs has been estimated to exceed US$10 million. This pre-existing scientific foundation is what makes Mesa Arc an advanced exploration target — Gamma is building on 70+ years of documented data, not starting from zero on an untested prospect.

Q19: What is the Jackpile Member of the Morrison Formation?

The Jackpile Member is a sandstone unit within the upper Morrison Formation — a Jurassic-era geological sequence that underlies large parts of the Colorado Plateau across New Mexico, Colorado, Utah, and Wyoming. It is one of the most thoroughly studied uranium-bearing geological formations in North America. The Jackpile-Paguate Mine on the Laguna Pueblo, which operated for decades, was one of the largest open-pit uranium mines in the world and is hosted in this same formation. At Mesa Arc, the Jackpile Member is estimated to lie at a depth of 300–350 metres below the surface based on known stratigraphic relationships and existing drill data.

NATIONAL CONTEXT — WHY URANIUM, WHY NOW?

Q20: Why is domestic uranium exploration a priority right now?

The United States generates approximately 20% of its electricity from 94 nuclear reactors, and has been almost entirely import-dependent for uranium fuel — historically sourcing 35–40% or more of its enriched uranium from Russia, Kazakhstan, and Uzbekistan combined. Russia controls approximately 44% of global uranium enrichment capacity. The Prohibiting Russian Uranium Imports Act, signed into law in May 2024, created an immediate supply gap that is not yet filled. Uranium has been formally designated a priority mineral by both the Biden and Trump administrations. Responsible domestic exploration in established geological districts is a direct response to a documented national security and energy security need.

Q21: Hasn't this been a political issue between the two parties?

No — this is one of the rare areas of genuine bipartisan consensus. President Biden backed domestic uranium with $2.7 billion in DOE enrichment contracts, signed the Russian uranium import ban, invested $700 million in advanced nuclear fuel supply chains through the Inflation Reduction Act, and published a Nuclear Energy Deployment Framework targeting a tripling of nuclear capacity by 2050. President Trump declared a National Energy Emergency on Day One of his second term, signed an executive order naming uranium specifically alongside critical minerals, invoked the Defense Production Act to direct federal funding toward domestic mineral projects, and added uranium to the USGS Critical Minerals List in November 2025. The policy direction is identical across administrations — the language and framing differ, the conclusion does not.

Q22: Isn't nuclear energy bad for the environment?

Nuclear energy produces zero direct carbon emissions during operation and generates more electricity per unit of land use than any other energy source. It operates continuously regardless of weather conditions, providing the baseload reliability that solar and wind alone cannot deliver. An increasingly broad consensus among climate scientists and environmental researchers recognizes nuclear as an essential component of any credible pathway to reduced carbon emissions. The Biden administration's target of tripling nuclear capacity globally by 2050, signed alongside 24 other countries at COP28, reflects this scientific consensus. The question of nuclear's role in clean energy is largely settled in the scientific literature — what remains is the policy and supply chain work to make it viable at scale.

Have a Question That Isn't Answered Here?

We are open to dialogue. Contact us directly.

connor@gammaresourcesltd.com
www.gammaresourcesltd.com/contact/contact-info

IMPORTANT DISCLOSURES

This document contains forward-looking statements within the meaning of applicable Canadian securities legislation. Forward-looking statements are based on current expectations and assumptions and are subject to known and unknown risks and uncertainties. Actual results may differ materially from those anticipated.

The historical mineral resource estimates referenced herein are sourced from internal calculations performed by Magnum Uranium Corp. (2006) and other prior operators. These estimates are not NI 43-101 compliant and should not be relied upon as current mineral resources or mineral reserves. Gamma Resources Ltd. is not treating these historical estimates as current mineral resources or mineral reserves. They are referenced solely as context for exploration targeting. Gamma Resources Ltd. (TSX-V: GAMA / OTCQB: GAMXF / FRA: MRD0)  ·  gammaresourcesltd.com