Standard Uranium Announces Summer Drill Program Has Begun and Assay Highlights from Phase II Winter Drill Program at Flagship Davidson River Project

Standard Uranium Ltd. ("Standard Uranium" or the "Company") (TSX-V: STND) (OTCQB:STTDF) (Frankfurt: FWB:9SU) is pleased to announce that the Phase II summer 2021 diamond drill program has officially begun at the Company's flagship 25,886 hectare Davidson River Project, (the "Project" or "Davidson River") located in the Southwest Athabasca Uranium District of Saskatchewan 25 km to 30 km to the west of Fission Uranium's Triple R and NexGen's Arrow deposits. The Company is also happy to announce a summary of results from the Phase II winter 2021 diamond drilling program from the same Project.

Davidson River Phase II Summer Drilling Underway

The Davidson River Phase II summer drill campaign officially started with hole DR-21-020 breaking ground on May 29, 2021. This first drill hole of the summer 2021 drill program is a 650 m step-out to the northwest along strike of the Saint trend from hole DR-20-018, which intersected graphitic basement structures and localized hydrothermal alteration. The first portion of the summer program will focus on testing new high-priority targets along the Saint and Bronco trends, as well as follow-up holes along the Warrior trend. The Company will utilize the overburden drilling expertise of Geotech Drilling Services Ltd. ("Geotech") in areas of thicker glacial till deposits to optimize drilling efficiency and budget. The planned 10,000 m program will comprise aggressive step-outs along strike of all four major conductive corridors on the Project, centering on high-priority geophysical, structural, and geochemical target areas.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f1595e9d-becd-426d-b195-d75818187187

Davidson River Phase II winter results summary

The Phase II winter drill campaign on the Project was conducted between February 8, 2021 and March 29, 2021. Full details of the news release can be found on our website . The winter program focused on following up on Phase I drill results along the Warrior trend and broke ground on the Saint trend for the first time. Seven (7) drill holes comprising 3,020 m of diamond drill core were completed, with six (6) holes drilled along strike of the Warrior trend and the one (1) hole on the Saint trend (see Table 1 below). These conductive trends are associated with graphitic-sulphidic structures in basement rocks, which are commonly associated with uranium mineralization systems.

Highlights from the Phase II winter program on the Project include:

Rock types and structure

Significant deep structural zones were intersected along both the Warrior and Saint trends;
Evidence of brittle reactivation associated with local hydrothermal clay and chlorite alteration was observed in structural zones within the hanging wall (west side) of the Warrior corridor;
Moderate to strong concentrations of graphite and sulphide minerals are present within stacked high strain zones and fault strand linkages along both trends; and
Strongly silicified phyllonite (shear) structure at greater than 400 m depth in hole DR-21-018 along the Saint trend, bound by graphitic high strain zones.

Geochemistry Highlights

Several zones of anomalous boron (1,960 ppm B from 268.1 to 268.2 m in DR-21-016; 1,090 ppm B from 181.5 to 182.0 m in DR-21-021) within the hanging wall of the Warrior trend exhibiting a strong spatial correlation to reactivated basement structures;
Anomalous uranium (8.5x background values, up to 14.6 ppm U over 3.75 m from 167.15 to 170.9 m) and pathfinder elements (e.g., B, Ni, Co, Mo, V, REE) within a Devonian sandstone composite sample in hole DR-21-015 along the Warrior trend; and
Localized uranium anomalism (up to 61.0 ppm U from 403.5 to 404.0 m) proximal to graphitic basement structure in hole DR-21-018 along the Saint trend, associated with anomalous Pb isotope ratios.

Phase II winter 2021 geochemical results have been compiled and incorporated into the Davidson River geological model and will be used in conjunction with Phase I 2020 data to further aid in drill target vectoring along the Warrior trend for the upcoming Phase II summer 2021 drill program. In addition, the elevated uranium returned from the first drill hole along the Saint trend bodes well for continued exploration drilling along the trend this summer. The Company also plans to begin testing the other main conductive corridors on the Project, the Bronco and Thunderbird trends.

Figure 1 is a schematic of cross-sections looking northwest through the Warrior and Saint corridors, showing modelled geology and structure, clay alteration, and highlighted U (ppm total) assays. Areas of anomalous Pb ratios are highlighted by dashed yellow ellipses. Areas of anomalous boron assays in the hanging wall of the Warrior corridor are highlighted by dashed orange ellipses. Pb isotope ratios were calculated from Pb isotope ppm total digestion assays.

DDH	Trend	UTM mE	UTM mN	Dip (°)	TN Azimuth. (°)	Elevation (m)	EOH (m)
DR-21-014	Warrior	572536.23	6389143.76	-70	065	537.90	476.0
DR-21-015	Warrior	572197.75	6389645.14	-70	065	565.30	455.0
DR-21-016	Warrior	571037.84	6392092.96	-70	065	465.60	449.0
DR-21-017	Warrior	571644.81	6392939.21	-65	065	465.30	395.0
DR-21-018	Saint	575080.62	6391925.89	-65	060	577.20	461.0
DR-21-019	Warrior	571553.93	6393124.64	-65	065	461.00	350.0
DR-21-021	Warrior	571844.25	6390449.53	-70	065	485.30	434.0

Table 1. Winter Phase II drill holes, Davidson River Project

Figure 1 accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/4f46cbcc-bd99-4d9d-b1c6-c853b4efe4a0

Sean Hillacre, Vice President of Exploration commented: "It is great to see overlapping structure and geochemical pathfinder elements along the Warrior trend and uranium anomalism in the basement on our first hole drilled along the Saint trend. As we continue to collect data from our drill programs, this will help us vector into a high-grade uranium discovery. The trends and correlations we are seeing on the Project have been integrated into our summer 2021 drill targeting, and we are very excited to have resumed drilling."

Drill core samples from the Phase II winter program were sent to Saskatchewan Research Council Geoanalytical Laboratories (SRC) in Saskatoon, Saskatchewan for preparation, processing and ICP-MS multi-element analysis using total and partial digestion, gold by fire assay and boron by fusion. Uranium and all other assays in this news release are reported as total digestion. Basement rock split interval samples range from 0.1 to 0.5 m and sandstone composite samples are comprised of multiple equal sized full core "pucks" spaced over the sample interval. SRC is an ISO/IEC 17025/2005 and Standards Council of Canada certified analytical laboratory. Blanks, standard reference materials, and repeats were inserted into the sample stream at regular intervals in accordance with Standard Uranium's quality assurance/quality control (QA/QC) protocols.

The scientific and technical information contained in this news release, including the sampling, analytical and test data underlying the technical information contained in this news release, has been reviewed, verified and approved by Sean Hillacre, P.Geo., VP Exploration of the Company and a "Qualified Person" as defined in NI 43-101.

Granting of Stock Options

Standard Uranium also announces that, pursuant to its Stock Option Plan, it has granted stock options to certain directors, management, and consultants to purchase an aggregate of 1,385,000 common shares of the Company. 1,325,000 stock options have been granted at an exercise price of $0.25 per share for a period of 5 years from the grant date, with 1/3 vesting on the grant date, 1/3 vesting 12 months from the grant date and 1/3 vesting 24 months from the grant date. 60,000 stock options have been granted at an exercise price of $0.25 per share expiring December 1, 2021, with all options vesting on the grant date.

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 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 43-101 Technical Report that summarizes the exploration on the 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 includes certain information and statements about management's view of future events, expectations, plans and prospects that constitute "forward looking statements", which are not composed of historical facts. Forward-looking statements may be identified by such terms as "believes", "anticipates", "intends", "expects", "estimates", "may", "could", "would", "will", or "plan", and similar expressions. Specifically, forward looking statements in this news release include, without limitation, statements regarding: the timing and content of upcoming work programs; timing of geochemical results; geological interpretations; and estimates of market conditions. These statements involve known and unknown risks, uncertainties, and other factors that may cause actual results or events, performance, or achievements of the Company to differ materially from those anticipated or implied in such forward-looking statements. The Company believes that the expectations reflected in these forward-looking statements are reasonable, but there can be no assurance that actual results will meet management's expectations. In formulating the forward-looking statements contained herein, management has assumed that business and economic conditions affecting the Company will continue substantially in the ordinary course and will be favourable to the Company. Factors that may cause actual results to differ materially from those anticipated by these forward looking statements include: the ability to commence and complete work on the Davidson River Project given the global COVID-19 pandemic; changes in equity markets; the Company's ability to raise additional capital if and when necessary; and other factors as described in detail in the Company's annual information form dated September 28, 2020 and other public filings, all of which may be viewed on SEDAR (www.sedar.com). Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements and information, which are qualified in their entirety by this cautionary statement. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.

Neither TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.

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NexGen Achieves Major Permitting Milestone

The Canadian Nuclear Safety Commission ("CNSC") has notified NexGen of successful completion of final Federal technical review.
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 .
In production, the Rook I Project is poised to make NexGen one of the world's largest and most environmentally conscious mining companies.

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.

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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Standard Uranium Announces Summer Drill Program Has Begun and Assay Highlights from Phase II Winter Drill Program at Flagship Davidson River Project

Resource update underway in preparation for bringing significant satellite deposits into the mine plan

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