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Standard Uranium Ltd. Announces Brokered Private Placement for Up to C$4.0 Million

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Standard Uranium Ltd. (" Standard Uranium " or the " Company ") (TSX-V: STND) (OTCQB:STTDF) (Frankfurt: FWB:9SU) is pleased to announce that it has entered into a letter agreement (the " Agreement ") with Red Cloud Securities Inc. (" Red Cloud ") to act as lead agent on behalf of a syndicate of agents (collectively, the " Agents ") in connection with a fully marketed, private placement for gross proceeds of up to C$4,000,000 (the " Offering "). The Offering is to be comprised of the sale of the following:

  • a minimum of 4,166,667 units of the Company (each, a " Unit ") at a price of C$0.24 per Unit for minimum gross proceeds of C$1,000,000;
  • flow-through units of the Company (each, a " FT Unit ") at a price of C$0.265 per FT Unit; and
  • flow-through units of the Company sold to charitable buyers (each, a " Charity FT Unit ", and collectively with the FT Units and Units, the " Offered Securities ") at a price of C$0.32 per Charity FT Unit.

Each Unit will consist of one common share of the Company (each a " Unit Share ") and one half of one common share purchase warrant (each whole warrant, a " Warrant "). Each FT Unit will consist of one common share of the Company to be issued as a "flow-through share" within the meaning of the Income Tax Act (Canada) (each, a " FT Share ") and one half of one Warrant. Each Charity FT Unit will consist of one FT Share and one half of one Warrant. Each whole Warrant shall entitle the holder to purchase one common share of the Company (each, a " Warrant Share ") at a price of C$0.36 at any time on or before that date which is 36 months after the closing date of the Offering.

The Agents will have an option, exercisable in full or in part up to 48 hours prior to the closing of the Offering, to sell up to an additional C$1,000,000 in any combination of Units, FT Units and Charity FT Units at their respective offering price.

The net proceeds raised from the sale of Units will be for the exploration and development of the Company's Davidson River Project and for working capital purposes. Proceeds from the sale of FT Shares will be used to incur "Canadian exploration expenses" as defined in subsection 66.1(6) of the Income Tax Act and "flow through mining expenditures" as defined in subsection 127(9) of the Income Tax Act (" Qualifying Expenditures "). Such proceeds will be renounced to the subscribers with an effective date not later than December 31, 2021, in the aggregate amount of not less than the total amount of gross proceeds raised from the issue of FT Shares.

The Offering is scheduled to close on or around August 5, 2021 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange. The Unit Shares, FT Shares and Warrant Shares will have a hold period of four months and one day from the closing date.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy the Offered Securities, nor shall there be any sale of the Offered Securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. The Offered Securities being offered will not be, and have not been, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, a U.S. person.

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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Standard Uranium

Standard Uranium

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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