Standard Uranium Provides Exploration Activities Update on the Sun Dog Project, Northwestern Athabasca Basin - Seite 2

“The Aero technical team and I are thrilled to provide these updates to the market as we quickly move towards kicking off our ambitious 2024 exploration season,” said Sean Hillacre, President & VP Exploration for the Company. “We eagerly anticipate receiving the new EM data and will be putting it to work immediately as we refine our high-priority drill targets for this summer. Securing reliable and leading contractors to complete the work is a great step forward as we look to unlock the potential in the Uranium City district with modern exploration techniques.”

Figure 1. Overview of the Northwestern Athabasca Uranium District highlighting the Sun Dog Project and leading land position held by and under option to Aero Energy Ltd.

The Project is currently under option (the “Option”) to Aero Energy Ltd. (the “Optionee”) an arms-length company (TSX-V: AERO). Pursuant to the Option Agreement, the Optionee will be granted the option to acquire 100% of the Company’s 19,604-hectare Sun Dog Project located along the northwestern edge of the Athabasca Basin, by completing three years of exploration programs and a series of cash and equity payments. Sun Dog is also subject to a 2% net smelter royalty which may be reduced to 1% for a $1,000,000 cash payment to the Company.

Survey Description and Background

The helicopter-borne VTEM Plus system, which is known for its high-resolution imaging capabilities, is a time domain electromagnetic system that is particularly useful for its ability to detect conductive materials deep underground, enabling Aero to identify mineral targets with exceptional precision. Additionally, the system also contains a high sensitivity cesium magnetometer-gradiometer for the mapping of geologic structure and lithology. The Company is leveraging this cutting-edge technology to reveal and refine previously unexplored, high-hosted basement-style targets within the Uranium City district. This comprehensive survey aims to build on previously gathered data to create a full-picture of the site's geological structures and mineral prospects. The VTEM Plus survey is expected to be completed within three to four weeks, with preliminary results to be published shortly thereafter.