Standard Uranium Announces Acquisition of Three Additional Uranium Exploration Properties in the Athabasca Basin Region, Saskatchewan

VANCOUVER, British Columbia, Feb. 01, 2024 (GLOBE NEWSWIRE) -- Standard Uranium Ltd. (“Standard Uranium” or the “Company”) (TSX-V: STND) (OTCQB: STTDF) (Frankfurt: FWB:9SU) is pleased to announce the acquisition by staking of three new 100% owned uranium exploration properties in the Athabasca Basin region, northern Saskatchewan.

With the addition of the Cable Bay Southwest (“CBSW”), Ox Lake, and Brown Lake Projects (as described below), the Company now has ownership interests in ten projects, totalling over 196,300 acres across the uranium-rich Athabasca Basin. With three earn-in option agreements completed since expanding the Company’s business strategy to include project generation in addition to pure exploration strategies, the Company continues to seek strategic partners to advance non-core projects, including these newly acquired assets.

Key Highlights:

• Three new project areas targeting shallow high-grade¹ uranium mineralization in the Athabasca Basin region of Saskatchewan
• Several kilometres of untested conductors coincident with magnetic low trends and key structural geology attributes
• Proximity to historical uranium showings, the Key Lake Mill, and other favorable infrastructure in the eastern Athabasca Basin
• Increased exposure to new areas of the Athabasca Basin and further joint venture and land deal opportunities

The Company considers uranium mineralization with concentrations greater than 1.0 wt% U₃O₈ to be “high-grade”.

“The acquisition of these new properties, further increasing our land holdings to ten projects, provides Standard Uranium shareholders with increased exposure to transactional and discovery upside,” said Sean Hillacre, President & VP Exploration for the Company. “This is yet another example of our technical team continuing to identify areas with shallow drill targets and favorable geology for uranium discovery, and we look forward to what we will be able to do with these claims in 2024.”

Figure 1. Overview map of Standard Uranium’s ten Athabasca projects, highlighting the newly staked Cable Bay SW, Ox Lake, and Brown Lake Projects.

“Dedication and focus have once again paid off with the addition of this latest set of properties,” stated Neil McCallum, lead technical director of Standard. “These properties all have significant exploration merit that we seek to unlock through either our own capital or through option/land deals.”