Standard Uranium Ltd. announced that drilling and mobilization plans have been finalized for the inaugural drill program on the 7,302-hectare Canary Project. The Project is currently under a three-year earn-in option agreement with Mamba Exploration Limited. Pursuant to the Option Agreement, Mamba has been granted an option to earn a 75% interest in the Project by funding CAD 6 million in exploration expenditures over three years, with the inaugural drill program planned for spring 2024.

The company and Mamba are pleased to announce that final planning is complete for the inaugural Spring/Summer drill program on the Project, situated in the prolific eastern Athabasca Basin. Exploration teams will be mobilizing to the field in early May, ahead of schedule. Exploration teams will be mobilizing to the field in early May, ahead of schedule.

Highlights: Drill Plan Finalized: Approximately 1,000-1,500 metres planned across 3-4 drill holes, targeting shallow high-grade1 unconformity-related uranium mineralization; Robust & Shallow Drill Targets: Drill plans comprise helicopter-supported diamond drilling focused on high-priority unconformity-related uranium targets refined by geophysical work completed by the Company in 2022. Ideal unconformity and basement target zones on the Project lie within approximately 200-350 metres below surface; Untapped Uranium Potential: One diamond drill will focus on the highest-priority target area along the northern electromagnetic (?EM?) corridor, investigating a significant resistivity anomaly coincident with modeled VTEM conductors for the first time; Fully Funded: Mamba Exploration will be funding 100% of the program to meet the year-one expenditure requirements under the Option Agreement; Mobilization: Diamond drilling crews will mobilize to the Canary Project on May 3. Inaugural 2024 Drill Program: The spring/summer program will be the first drill campaign completed by the Company on the Project with partner company Mamba Exploration, following successful identification of high-priority targets in 2022-2023. The Project covers more than 16 km of conductive corridors across three prospective exploration trends which locally host anomalous historical uranium occurrences.

The Company completed a high-resolution ground DC/IP survey on the project in 2022, providing valuable structural and lithological information in the area to identify conductive bodies and potential fault systems. Significant resistivity-low anomalies are present along the northern conductor on the project, potentially representing substantial hydrothermal alteration zones in the sandstone and coincident with basement conductors. The base diamond drilling team is scheduled to arrive at the Project on May 3 to begin drill pad preparation, and the Standard Uranium team is slated to mobilize on May 8, 2024.