standard uranium

Standard Uranium Finalizes Phase II Drill Program Plans at its Flagship Davidson River Project

Standard Uranium Ltd. ("Standard Uranium" or the "Company") (TSX-V: STND) (Frankfurt: FWB:9SU) is pleased to announce the Phase II 2021 winter exploration program will commence at its flagship 25,886-hectare Davidson River Uranium Project (the "Project") on February 1 st 2021, dependent upon the COVID-19 status. The program will consist of approximately 5,850 m of diamond drilling in 13 holes. The Project is located in the Southwest Athabasca Uranium District of Saskatchewan and encapsulates an inferred trend 25 km to 30 km to the west of Fission Uranium's Triple R and NexGen's Arrow deposits. (Figure 1).

Figure 1 accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/242800c6-0476-43c0-88bb-df18c3e0e65e

Jon Bey, President, CEO and Chairman states, "The greatest value an exploration company can bring to its shareholders is making a high-grade discovery. We believe our Davidson River Project has incredible potential and we are excited to get back to drilling our Warrior and Saint trends this winter. We have assembled an outstanding exploration team, with direct experience at making discoveries in this region."

Sean Hillacre, Project Geologist and Exploration Program Manager notes, "The Phase II targets we have developed for the 2021 drill season are very encouraging. I am looking forward to what the Standard team can achieve next year armed with the technical information gained from our Phase I drilling. We are fully permitted and funded, and now with Board approval we are ready to continue advancing exploration towards discovery."

The Phase II 2021 Drill Program will be split into two segments where, a winter road-based drill program will follow-up on previous holes along the Warrior Trend, and the first ever drill testing of the Saint Trend. The second segment will comprise a summer fly-in program to drill test the Bronco Trend, which has also never been previously drilled. (See Figures 1 and 2).

Figure 2 accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/fea213ae-185f-45a3-9917-5351f006b865

The objective of the Phase II drill program is to make a high-grade uranium discovery by following-up on results from the inaugural Phase I drill program, and to begin exploration on untested corridors. Please see the Company's news release dated November 25, 2020 that describes encouraging drill results from the 13 holes completed between August 4 th and September 19 th , 2020.

The majority of the work for the Phase II drill program at Davidson River will be completed using a winter road built over frozen ground conditions in order to reduce exploration costs as compared to helicopter access. The work on the road is expected to begin the second week of January 2021, depending on weather and local COVID-19 conditions. The Company is planning to use Aggressive Drilling Ltd. for the road work and drill program given their professional execution conducted throughout the summer of 2020.

The Company plans to use the Big Bear Lodge located on Grygar Lake as its base camp for the duration of the exploration program. "It is extremely important for us to partner with the local communities and ensure that it is safe to proceed with the proposed drill program. We will follow best practices for working safely and will continue to monitor the COVID-19 situation," stated Neil McCallum, VP Exploration.

Davidson River Phase II Drilling Program Summary:

  • Objective is to make a basement hosted high-grade uranium discovery
  • 5,850 m planned in approximately 13 drill holes
  • Road construction to begin the second week of January 2021
  • Drilling to begin February 1 st , 2021
  • Follow-up drilling on the Warrior corridor with vectoring information gained during the Phase I program
  • Exploring two new corridors, Bronco and Saint, through drill testing offsets and flexures in wide conductive corridors searching for: radioactivity, alteration, structure, and graphite-rich and sulphide-rich shear zones.
  • Increasing the geological knowledge and discovery potential of the Davidson River Property through collection and interpretation of technical information from strategically planned drill holes.

The scientific and technical information contained in this news release has been reviewed and approved by Neil McCallum, VP Exploration and is a "Qualified Person" as defined in NI 43-101. For additional information with respect to the Davidson River Project, please reference the NI 43-101 technical report titled: "Updated Technical Report on the Davidson River Property Northwest Saskatchewan, Canada" with an effective date March 16, 2020 available under the Company's SEDAR profile at www.sedar.com.

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 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 Project is available for review under Standard Uranium's SEDAR issuer 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 (604) 375-4488
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 the assumptions, expectations, estimates and projections as of the date of this news release.   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. Standard Uranium 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. Readers should not place undue reliance on forward-looking statements.

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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Standard Uranium

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Overview

Standard Uranium Ltd. (TSXV:STND, OTCQB:STTDF) is a uranium exploration company aiming to leverage its geological experience to make additional discoveries in Saskatchewan’s renowned Athabasca Basin. The company is currently focused on the exploration of the Davidson River uranium project, which is located in the southwest portion of the Basin. In March 2020 Standard Uranium filed a NI-43 101 compliant technical report on the Davison River project, outlining the potential for a two-phase exploration program to expand the company’s understanding of the property.

Standard Uranium believes it has assembled the team and land package necessary to make the next major uranium discovery in the Athabasca Basin. The company intends to leverage its experience in the area to advance potential future discoveries. Standard Uranium believes the Clearwater Domain Mirror Theory suggests the exploration corridors on the west of the Clearwater Domain could have similar uranium deposits as those on the east.

In July 2020 Standard Uranium announced it had expanded its land holdings in the Athabasca Basin by acquiring the Ascent and Canary projects through staking. The two projects, totaling 11,040 hectares, are both located in the eastern Athabasca Basin. Shortly after, Standard Uranium added three new mineral claims that are adjacent to the company’s existing holdings at the Gunnar Project located in the Beaverlodge Uranium District. The 15,770-hectare Gunnar Project contains unconformity and basement-hosted uranium targets, including historically identified uranium mineralization in the Athabasca sandstone.

In an effort to strengthen its exploration team, Standard Uranium recently announced the addition of Galen McNamara and Sean Hillacre to its technical team. Mr. Sean Hillacre has been named the company’s Project Manager for the upcoming Davidson Drill Program, while Mr. Galen McNamara has been named Technical Advisor. Hillacre has experience in the region after working with NexGen Energy as an exploration geologist as part of the technical team that developed the Arrow Deposit. McNamara also brings considerable exploration experience to the team after managing all field-based drilling and exploration activities for NexGen. McNamara earned the 2018 PDAC Bill Dennis “Prospector of the Year” Award and 2016 Mines and Money Exploration Award for his work on the Arrow Deposit.

Moving forward, Standard Uranium intends to continue to explore the Davidson River Project including an inaugural exploration drilling program expected to begin in Q3 2020. The company is optimistic that it has one of the most promising land packages in Saskatchewan’s Southwest Athabasca Basin, which has attracted the attention of resource companies including Cameco (TSX:CCO, NYSE:CCJ), Orano, NexGen Energy (TSX:NXE, NYSE:NXE), Fission Uranium (TSX:FCU, OTCQX:FCUUF), Fission 3.0 (TSXV:FUU, OTCQB:FISOF) and Denison Mines (TSX:DML, NYSE:DNN).

Standard Uranium’s Company Highlights

  • Davidson River uranium project comprises 25,886 hectares of the Patterson Lake Uranium District, located in the southwest Athabasca Basin
  • The Davidson River Project is highly prospective for basement hosted uranium deposits yet remains untested by drilling despite its location along trend from recent high-grade uranium discoveries. NI-43 101 Technical Report filed on the Davidson River project outline the potential for a two-phase exploration program
  • Ascent and Canary projects are located within the Eastern Athabasca Basin region, and compliment the existing Atlantic Project
  • Gunnar project, located south of the Beaverlodge Uranium district, and is targeting unconformity-style uranium mineralization
  • Geological team has proven experience in the Athabasca Basin
  • Director Garrett Ainsworth led the NexGen technical team, which discovered the Arrow deposit in the Athabasca Basin
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