Expansion Of Existing Land Holdings In Eastern Athabasca Basin

VANCOUVER - Standard Uranium Ltd. announced the expansion of the Sun Dog and Atlantic Projects and the expansion of the portfolio of highly prospective projects by the staking of the Corvo Project, totalling 3,711 hectares, in the eastern Athabasca Basin of northern Saskatchewan.

Jon Bey, CEO and Chairman, said, “This summer has been challenging for many uranium junior exploration companies and investors. I believe we are going to see a much stronger second half of this year and our team has been quietly building our portfolio of projects and working on completing joint venture deals with new partners.”

With the addition of the Corvo Project and expansion of the Sun Dog and Atlantic Projects, the Company now has ownership interests in seven projects, totalling over 176,969 acres across the uranium-rich Athabasca Basin. The Company continues to expand its set of high-potential assets across the Athabasca Basin to drive value and minimize dilution to shareholders through focused exploration and transactional success. The Company is seeking strategic partners to advance the projects through earn-in agreements that provide upside to shareholders through ongoing exploration and future discovery.

The Corvo Project is situated 1.5 kilometres outside the current margin of the Athabasca Basin, approximately 50 kilometres southwest of Rabbit Lake mill facilities and 45 kilometres northeast of the Gemini Mineralized Zone. It covers approximately 12 kilometres of two northeast trending magnetic low/electromagnetic (EM) conductor corridors. Data compilation by the Company is currently underway to identify target areas for high-grade1 uranium mineralization within metasedimentary and orthogneissic basement rocks. The Project will benefit from additional surface sampling and geophysical surveys to aid in drill target vectoring.

“As our technical team continues to expand our strategic land holdings in the Basin, the Corvo Project provides another opportunity for the Company to create value for shareholders through exploration of shallow targets for high-grade uranium,” said Sean Hillacre, President and VP Exploration. “Located just outside the present-day Basin margin along Highway 905, the logistics and geological setting of Corvo are ideal for discovery of an accessible and economic uranium deposit.”