TSXV:STND

Standard Uranium Announces Engagement Agreement and 2022 Winter Exploration Plans at its Sun Dog Project

Standard Uranium Ltd. ("Standard Uranium" or the "Company") (TSX-V: STND) (OTCQB: STTDF) (Frankfurt: FWB:9SU) is pleased to announce the signing of an Engagement Agreement with Ya'thi Néné Land and Resource Office ("YNLR") 1 further strengthening the Company's relationships with First Nations and northern community stakeholders. The Company is also pleased to announce plans for their winter exploration program including high resolution geophysics and diamond drilling at its 15,770-hectare, 100% wholly-owned, Sun Dog Project (the "Project"). The Project is located at the northwestern edge of the Athabasca Basin, Saskatchewan, and is south of the first uranium mining camp in Canada, the Beaverlodge District, near Uranium City.

Following the signing of the Engagement Agreement with the YNLR on October 12 th , 2021, CEO and President, Jon Bey, and VP Exploration, Sean Hillacre, visited the Sun Dog project on October 14 th . During which, they followed up on occurrences of mineralization and strong radioactivity at surface with an RS-125 scintillometer, recording readings of >63,000 counts per second ("cps") at the Skye target, readings of >27,000 cps at the Java Target, and to readings of >40,000 cps at the Haven target which was recently discovered by the Company in 2020 (Figure 1).

Jon Bey, CEO and President commented: "Signing the Engagement Agreement with our First Nations and northern community representatives is a milestone event for our team at Standard Uranium and a step towards building strong relationships with local stakeholders. We have been anxiously awaiting the opportunity to explore the Sun Dog Project knowing the potential for high-grade uranium discoveries in this region. Working closely with our local stakeholders, we have the potential to bring opportunities back to this incredible region."

Figure 1 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/8c3f9777-e16c-43fd-bc73-2abd577f0efa

Sun Dog Project Planned Winter Exploration Program

The Sun Dog Project is fully permitted for the 2022 exploration program, and the Company is fully funded for it's 2022 exploration plans on the Project. The Company plans to conduct high resolution airborne magnetic and ground gravity surveys over the Skye, Haven and Java target areas on the Sun Dog Project (Figure 1) through the months of January and February 2022, leading into the inaugural drill program planned to commence in the first week of March 2022. The drill program will comprise up to 3,000 metres of diamond drilling to test high priority basement and unconformity targets for high-grade uranium mineralization at relatively shallow depths.

Sean Hillacre, VP Exploration, states: "I was extremely impressed by the abundance of structural features and uranium mineralization occurrences on the Sun Dog Project during my first visit to our target areas. The extent of the faulting and brecciation in the Athabasca sandstones and exposed basement rocks coinciding with strong radioactivity on surface at our Skye target, Java target and Haven discovery has me excited to begin our inaugural drill program and follow up on the basement "roots" of these perched mineralization systems. The strong alteration and uranium mineralization occurrences at surface bode extremely well for what is potentially contained within the down-dip extension of these major structures into the basement rocks below."

As noted in the December 8, 2020, news release, the target areas at the Sun Dog Project have many attributes that are favourable for the formation of high-grade unconformity-related uranium mineralization. The key geological factors include uranium-enriched bedrock, reactivated and graphitized structures, Athabasca Supergroup sandstone cover and favourable basement competency contrasts. The three most promising historical target areas (Skye and Java, in addition to the newly discovered Haven target) were visited in the summer of 2020 to confirm the location of historical exploration and provide context for future work. The analytical results reveal an interesting correlation between uranium and gold mineralization, whereas boron and other pathfinder elements highlight the potential for a robust alteration footprint at the Haven target area.

Ground-truth sampling in 2020 at the three main target areas: Skye, Java, and Haven, have returned outcrop and boulder grab sample results with highs of 3.58% U 3 0 8 , 1.7% U 3 0 8 and 0.7% U 3 0 8 , respectively. These high-grade uranium assay results come from widespread showings of strong radioactivity on Stewart and Johnston Islands.

New boulder grab samples were also collected from the Skye target area during the recent 2021 visit, with radiation measurements peaking at 42,000 cps (Figure 2), 27,000 cps (Figure 3) and 12,000 cps (Figure 4). These samples will be shipped to Saskatchewan Research Council in Saskatoon to provide additional U 3 O 8 assay data for follow up at the Skye target area.

Fall 2020 Exploration Highlights :

Skye Target Area

  • 14 outcrop and boulder grab samples collected, 2 of which are greater than 0.10% U 3 O 8 , and range between 0.95 ppm U and 3.58% U 3 O 8 .
  • 3 of the 14 samples returned greater than 100 ppb gold with a high of 1.02 g/t Au.

Java Target Area - JSW-1 prospect

  • 14 outcrop grab samples collected, 10 of which are greater than 0.10% U 3 O 8 , and range between 0.07 ppm U and 1.7% U 3 O 8 .
  • 8 of the 14 samples returned greater than 100 ppb gold with a high of 0.52 g/t Au.

Haven Discovery Area – Haven target, Walli prospect, JSW-2 prospect

  • 13 outcrop grab samples collected, 5 of which are greater than 0.10% U 3 O 8 , and range between 136 ppm U and 0.70% U 3 O 8 .
  • 3 of the 13 samples returned greater than 100 ppb of gold, with a high of 1.04 g/t Au.
  • Proximal to the historical Walli Prospect (Figure 1), 2 of the 13 samples returned greater than 1,000 ppm of boron. These results, coupled with the anomalous uranium of 0.10 and 0.13% U 3 O 8 and elevated pathfinder elements such as lead, copper, cobalt, and nickel suggest the identification of a robust alteration footprint within the Athabasca sandstones.

Figure 2 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b110c540-2958-4957-b161-f45935ff883f

Figure 3 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/8c2c8e8f-aa1d-4478-841e-55e4787c511e

Figure 4 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ad8ddc35-2cb7-4774-83f8-ed503827a2aa

The scientific and technical information contained in this news release has been reviewed and approved by Sean Hillacre, VP Exploration and is a "Qualified Person" as defined in NI 43-101.

Samples collected for analysis are sent to SRC Geoanalytical Laboratories (an SCC ISO/IEC 17025: 2005 Accredited Facility) in Saskatoon, SK for analysis. Sandstone samples were tested using the ICP-MS1 uranium multi-element exploration package plus boron. Basement samples were tested with ICP-MS2 uranium multi-element exploration package plus boron. All sandstone samples, and basement samples marked as radioactive upon arrival to the lab were also analyzed using the U 3 O 8 assay (reported in wt %). All samples were tested with the Au1 gold by fire assay (reported in ppb and converted to g/t where appropriate).

Radioactivity measurements reported in this news release were measured using a handheld RS-125 Gamma-Ray Spectrometer/Scintillometer. Scintillometer readings do not constitute a qualitative or quantitative measurement of uranium concentration in the rock samples measured. Uranium mineralization referred to and pictured in samples in this news release have been identified based on mineralogical examination and scintillometer/spectrometer readings in conjunction with comparison and correlation with previously assayed samples.

About Standard Uranium (TSX-V: STND)

We find the fuel to power a   clean energy   future

Standard Uranium is a mineral resource exploration company based in Vancouver, British Columbia. Since its establishment, Standard Uranium has focused on the identification and development of prospective exploration stage uranium projects in the Athabasca Basin in Saskatchewan, Canada. Standard Uranium's Sun Dog Project, in the northwest part of the Athabasca Basin, Saskatchewan, is comprised of 6 mineral claims over 15,770 hectares. The Sun Dog Project is highly prospective for basement and unconformity hosted uranium deposits yet remains largely untested by sufficient drilling despite its location proximal to uranium discoveries in the area.

Standard Uranium's Davidson River Project, in the southwest part of the Athabasca Basin, Saskatchewan, is comprised of 21 mineral claims over 25,886 hectares. The Davidson River Project is highly prospective for basement hosted uranium deposits yet remains relatively untested by drilling despite its location along trend from recent high-grade uranium discoveries. A copy of the NI 43-101 technical report that summarizes the exploration on the Davidson River Project is available for review under Standard Uranium's SEDAR profile ( www.sedar.com ).

For further information contact:

Jon Bey, President, Chief Executive Officer, and Chairman
550 Denman Street, Suite 200
Vancouver, BC V6G 3H1
Tel: 1 (306) 850-6699
E-mail: info@standarduranium.ca

Cautionary Statement Regarding Forward-Looking Statements

This news release contains "forward-looking statements" or "forward-looking information" (collectively, "forward-looking statements") within the meaning of applicable securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as of the date of this news release. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, identified by words or phrases such as "expects", "is expected", "anticipates", "believes", "plans", "projects", "estimates", "assumes", "intends", "strategy", "goals", "objectives", "forecasts", "budget", "schedule", "potential", "possible" or variations thereof or stating that certain actions, events, conditions or results "may", "could", "would", "should", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking statements.

Forward-looking statements include, but are not limited to, statements regarding: the timing and content of upcoming work programs; geological interpretations; and estimates of market conditions.

Forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those expressed or implied by forward-looking statements contained herein. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Certain important factors that could cause actual results, performance or achievements to differ materially from those in the forward-looking statements include, among others: general economic conditions in Canada and globally; industry conditions; governmental regulation of the mining industry, including environmental regulation; geological, technical and drilling problems; unanticipated operating events; competition for and/or inability to retain drilling rigs and other services; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility; volatility in market prices for commodities; liabilities inherent in the mining industry; the development of the COVID-19 global pandemic; changes in tax laws and incentive programs relating to the mining industry. This list is not exhaustive of the factors that may affect the Company's forward-looking statements. There may be other factors that could cause actual events or results to differ from those expressed or implied by forward-looking statements contained herein. See the section entitled "Risk Factors" in the Company's annual information form for the fiscal year ended April 30, 2020, dated September 28, 2020, for additional risk factors that could cause actual events or results to differ from those expressed or implied by forward-looking statements contained herein.

Forward-looking statements are necessarily based upon a number of factors and assumptions that, if untrue, could cause actual events or results to differ from those expressed or implied by forward-looking statements contained herein. Forward-looking statements are based upon a number of estimates and assumptions that, while considered reasonable by the Company at this time, are inherently subject to significant business, economic and competitive uncertainties and contingencies that may cause the Company's actual financial results, performance, or achievements to be materially different from those expressed or implied herein. Some of the material factors or assumptions used to develop forward-looking statements include, without limitation: the future price of uranium; anticipated costs and the Company's ability to raise additional capital if and when necessary; volatility in the market price of the Company's securities; future sales of the Company's securities; the Company's ability to carry on exploration and development activities; the success of exploration, development and operations activities; the timing and results of drilling programs; the discovery of mineral resources on the Company's mineral properties; the costs of operating and exploration expenditures; the Company's ability to identify, complete and successfully integrate acquisitions; the Company's ability to operate in a safe, efficient and effective manner; health, safety and environmental risks; the presence of laws and regulations that may impose restrictions on mining; employee relations; relationships with and claims by local communities and indigenous populations; availability of increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); uncertainties related to title to mineral properties; assessments by taxation authorities; fluctuations in general macroeconomic

The forward-looking statements contained in this news release are expressly qualified by this cautionary statement. Any forward-looking statements and the assumptions made with respect thereto are made as of the date of this news release and, accordingly, are subject to change after such date. The Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.


1 YNLR is a not-for-profit organization established by the Athabasca Basin First Nations of Black Lake Denesųłine First Nation, Fond du Lac Denesųłine First Nation and Hatchet Lake Denesųłine First Nation and the municipalities of Camsell Portage, Uranium City, Stony Rapids and Wollaston Lake with authority to represent certain First Nation communities.



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NexGen Achieves Major Permitting Milestone

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  • This is the key requirement to scheduling a Federal Commission Hearing date and subsequent Federal Project approval decision.
  • The Federal Environmental Assessment ("EA") and License represent the final major approval steps after having received Provincial EA approval in November 2023 .
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NexGen Energy Ltd. ("NexGen" or the "Company") (TSX: NXE) (NYSE: NXE) (ASX: NXG) is excited and proud to announce a major milestone in the Federal EA process for its 100%owned Rook I Project ("the Project"). The CNSC has provided NexGen formal confirmation that the Company has successfully addressed all information requests received as part of the Federal technical review. With completion of the CNSC technical review, the next and final steps in the Federal approval process include scheduling a Commission Hearing Date for the Project, subject to which the CNSC will render an approval decision on the Project.

NexGen Energy Ltd. Logo (CNW Group/NexGen Energy Ltd.)

This historic milestone marks a crucial step forward for the Project that has been undergoing Canada's robust and rigorous regulatory process since 2019. Completion of the Federal EA technical review stage follows the CNSC having deemed NexGen's Federal licence application sufficient in September 2023 , and receipt of Provincial EA approval in November 2023 . This development reinforces Canada's path to re-establish itself as the leader in global uranium supply and partner of choice.

Leigh Curyer, Chief Executive Officer, commented: "This exciting outcome is a testament to the exceptional efforts of our entire NexGen team, the collaborative support of our valued Indigenous Nation partners, and our transparent approach with the CNSC to ensure a robust and thorough review that meets the highest standards of environmental protection for the sustainable development of the Rook I Project. Since inception, our honest and innovative holistic approach to the successful development of this generational project has set new industry standards as to what is possible, whilst positively impacting all our valued stakeholders.

Together with the Clearwater River Dene Nation, Métis Nation – Saskatchewan Northern Region 2 and Métis Nation – Saskatchewan , Buffalo River Dene Nation, and Birch Narrows Dene Nation, we are construction ready to deliver transformative and unprecedented social, economic and environmental benefits to local communities, the Province of Saskatchewan, Canada , and the world.

We're not just developing a mine - we're building strong communities while shaping a sustainable and secure global energy future. With over $800 million in cash and liquid assets, we are ready pending a positive Commission decision with all activities required to immediately commence major site works in place."

NexGen is poised to propel Canada back to the forefront of global clean energy fuel production. The Rook I Project embodies NexGen's commitment to elite environmental performance, unprecedented community inclusion, and responsible alignment with global net-zero goals.

About NexGen

NexGen Energy is a Canadian company focused on delivering clean energy fuel for the future. The Company's flagship Rook I Project is being optimally developed into the largest, low-cost producing uranium mine globally, incorporating the most elite standards in environmental and social governance. The Rook I Project is supported by a NI 43-101 compliant Feasibility Study which outlines the elite environmental performance and industry leading economics. NexGen is led by a team of experienced uranium and mining industry professionals with expertise across the entire mining life cycle, including exploration, financing, project engineering and construction, operations, and closure. NexGen is leveraging its proven experience to deliver a Project that leads the entire mining industry socially, technically, and environmentally. The Project and prospective portfolio in northern Saskatchewan will provide generational long-term economic, environmental, and social benefits for Saskatchewan, Canada , and the world.

NexGen is listed on the Toronto Stock Exchange and the New York Stock Exchange under the ticker symbol "NXE," and on the Australian Securities Exchange under the ticker symbol "NXG," providing access to global investors to participate in NexGen's mission of solving three major global challenges in decarbonization, energy security, and access to power. The Company is headquartered in Vancouver, British Columbia , with its primary operations office in Saskatoon , Saskatchewan.

Cautionary Note to U.S. Investors

This news release includes Mineral Reserves and Mineral Resources classification terms that comply with reporting standards in Canada and the Mineral Reserves and the Mineral Resources estimates are made in accordance with NI 43-101. NI 43-101 is a rule developed by the Canadian Securities Administrators that establishes standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects. These standards differ from the requirements of the Securities and Exchange Commission ("SEC") set by the SEC's rules that are applicable to domestic United States reporting companies. Consequently, Mineral Reserves and Mineral Resources information included in this news release is not comparable to similar information that would generally be disclosed by domestic U.S. reporting companies subject to the reporting and disclosure requirements of the SEC Accordingly, information concerning mineral deposits set forth herein may not be comparable with information made public by companies that report in accordance with U.S. standards.

Forward-Looking Information

The information contained herein contains "forward-looking statements" within the meaning of applicable United States securities laws and regulations and "forward-looking information" within the meaning of applicable Canadian securities legislation. "Forward-looking information" includes, but is not limited to, statements with respect to estimates for CapEx, OpEx and a payback period of 12 months, the appointment of a lead lender group, the availability of financing for the Project, the advancement of detailed engineering and contract negotiations, bolstering the globe's uranium supply chains to meet the rising demand for nuclear energy, the timing and cost of reclamation, including as part of the UGTMF and after-tax free cash flow remaining materially consistent with the FS, Free Cash Flow, Payback Period and IRR relative to various uranium prices, the delivery of clean energy fuel for the future, the development of the largest low cost producing uranium mine globally and incorporating elite standards in environmental and social governance, delivering a project that leads the entire mining industry socially, technically and environmentally, providing generational long-term economic, environmental and social benefits for Saskatchewan, Canada and the world, planned exploration and development activities and budgets, the interpretation of drill results and other geological information, mineral reserve and resource estimates (to the extent they involve estimates of the mineralization that will be encountered if a project is developed), requirements for additional capital, capital costs, operating costs, cash flow estimates, production estimates, the future price of uranium and similar statements relating to the economics of a project, including the Rook I Project. Generally, forward-looking information and statements can be identified by the use of forward-looking terminology such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative connotation thereof.

Forward-looking information and statements are based on NexGen's current expectations, beliefs, assumptions, estimates and forecasts about its business and the industry and markets in which it operates. Forward-looking information and statements are made based upon numerous assumptions, including, among others, that financing for the Project will be available in a timely manner and on terms acceptable to the Company, the results of planned exploration and development activities will be as anticipated and on time; the price of uranium; the cost of planned exploration and development activities; that, as plans continue to be refined for the development of the Rook I Project, there will be no changes in costs, engineering details or specifications that would materially adversely affect its viability; that financing will be available if and when needed and on reasonable terms; that third-party contractors, equipment, supplies and governmental and other approvals required to conduct NexGen's planned exploration and development activities will be available on reasonable terms and in a timely manner; that there will be no revocation of government approvals; that general business, economic, competitive, social and political conditions will not change in a material adverse manner; the assumptions underlying the Company's mineral reserve and resource estimates and updated/revised CapEx, OpEx, SusEx, and pay back period; assumptions made in the interpretation of drill results and other geological information; the ability to achieve production on the Rook I Project; and other estimates, assumptions and forecasts disclosed in the Feasibility Study for the Rook I Project. Although the assumptions made by the Company in providing forward-looking information or making forward-looking statements were considered reasonable by management at the time they were made, there can be no assurance that such assumptions will prove to be accurate.

Forward-looking information and statements also involve known and unknown risks and uncertainties and other factors, which may cause actual results, performances and achievements of NexGen to differ materially from any projections of results, performances and achievements of NexGen expressed or implied by such forward-looking information or statements, including, among others, negative operating cash flow and dependence on third-party financing, uncertainty of additional financing, the risk that pending assay results will not confirm previously announced preliminary results, the imprecision of mineral reserve and resource estimates, the price and appeal of alternate sources of energy, sustained low uranium prices, aboriginal title and consultation issues, development risks, climate change, uninsurable risks, reliance upon key management and other personnel, risks related to title to its properties, information security and cyber threats, failure to manage conflicts of interest, failure to obtain or maintain required permits and licences, changes in laws, regulations and policy, competition for resources, political and regulatory risks, general inflationary pressures, industry and economic factors that may affect the business, and other factors discussed or referred to in the Company's most recent Annual Information Form under "Risk Factors" and management's discussion and analysis under "Other Risks Factors" filed on SEDAR+ at www.sedarplus.ca and 40-F filed on Edgar at www.sec.gov   .

Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information or statements or implied by forward-looking information or statements, there may be other factors that cause results not to be as anticipated, estimated or intended.

There can be no assurance that forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. Accordingly, readers are cautioned not to place undue reliance on forward-looking information or statements due to the inherent uncertainty thereof. The Company undertakes no obligation to update or reissue forward-looking information as a result of new information or events except as required by applicable securities laws.

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SOURCE NexGen Energy Ltd.

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