Energy

Standard Uranium Ltd. ("Standard Uranium" or the "Company") (TSX-V: STND) (OTCQB: STTDF) (Frankfurt: FWB:9SU) is pleased to provide an update on its plans for the upcoming phase II summer drilling program at its flagship 25,886-hectare Davidson River Uranium Project (the "Project"). The Company concluded the Phase II winter program at the Project on March 29, 2021. Based on positive indications from the winter drill program, the Company announced on March 29, 2021 it would quadruple the summer program to 10,000 metres. Full details of the news release can be found on our website .

The Company is pleased to announce that Geotech Drilling has been selected as our new drilling partner at the Project. Along with Dahrouge Geological Ltd., Access Helicopters, and the team at Big Bear Lodge, all vendors have been secured and the phase II 10,000 metre summer drill program is slated to commence the first week of June with crews mobilizing the last week of May. The drill program is expected to run the entire summer season, wrapping up in mid-September.

The Project is situated in the Southwest Athabasca Uranium District of Saskatchewan, 25 to 30 kilometres to the west of Fission Uranium's Triple R and NexGen's Arrow deposits and encapsulates the inferred continuation of the uranium-fertile Patterson Lake corridor.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/316d1ee2-91d7-4623-a0d0-8950f9356c1e

Jon Bey, President and CEO comments: "I am very pleased with what we have accomplished at our Davidson River Project. We have a clear vision of where we need to be drilling this summer and have the required permits, community support, and vendors in place to execute. This will be an exceptionally busy summer for exploration companies in all sectors and we are proud to have secured exceptional vendor partners to drive our 10,000 m drill program. The outlook for uranium is bright as more countries move forward to meet their climate change goals with nuclear energy playing a significant role. We are proud to be a part of the clean energy future through the exploration and discovery of high-grade, basement-hosted uranium at Davidson River."

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/7a010b02-7da3-4107-a16d-a3c48b80d761

The Company plans to use the Big Bear Lodge located on Grygar Lake as its base camp for the upcoming summer exploration program. The Company has been collaborating with Big Bear Lodge for our last two drilling campaigns and have established a great working relationship with the local community. Chief Teddy Clark of the Clearwater River Dene Nation (the "CRDN") has been supportive of our work programs due to the Company's practice of working closely with local service providers and staff, whenever possible. Support has also been fostered with the commitment to the safety of the local community by exceeding health guidelines relating to Covid-19 management.

Sean Hillacre, Project Geologist, commented: "It has been an absolute pleasure working with the CRDN personnel at Big Bear Lodge and we look forward to continuing to grow our strong relationship with local contractors in northern Saskatchewan. It is important for us to partner with local communities and make use of the skills, experience, and talent they bring to our project. In addition, my personal experience with Dahrouge Geological Consulting Ltd. and Access Helicopters has been outstanding, and I am excited to work closely with them and the Geotech Drilling team to make this summer season the most successful yet."

Next Exploration Steps at the Project:

  • The Saint trend has provided promising geological results with only one drill hole thus far. The Company intends to drill this trend first with multiple holes to start the summer program.
  • Assay results from the 2021 winter drill program are expected to arrive in mid-May and the Company will incorporate those results into planning the follow up drill holes on the Warrior trend.
  • The southeastern portion of the Warrior trend is expected to be tested where several structural targets lie.
  • The Company will progress to the next exploration milestone of widening the search to the other exploration corridors on the Project. The Bronco and Thunderbird trends have several targets of interest that were developed during the geophysical surveying of the Project.

Neil McCallum, VP Exploration of Standard Uranium, states: "With only twenty holes drilled to date on the Project, there are still numerous high priority targets that have yet to be tested. The progression of our exploration to the other exploration trends is an exciting milestone for the project. The targets on all of the trends have me very excited, and I look forward to sharing the results as we make progress."

All scientific and technical information in this news release has been prepared by, or approved by Neil McCallum, VP Exploration of the Company. Mr. McCallum is a qualified person for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects.

About Standard Uranium

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 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 (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; timing of drilling results; geological and drilling 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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Global Atomic Corporation Logo (CNW Group/Global Atomic Corporation)

Directors were elected to the Board as per the voting results in the table below:

Director Nominee

For

%

Withheld

%

Tracey J. Arlaud

59,482,315

99.88

67,276

0.11

Asier Zarraonandia Ayo

59,468,413

99.86

81,178

0.14

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99.51

293,916

0.49

Richard R. Faucher

59,255,374

99.51

294,217

0.49

Fergus P. Kerr

59,482,956

99.89

66,635

0.11

Derek C. Rance

51,330,878

86.20

8,218,713

13.80

Stephen G. Roman

59,495,315

99.91

54,276

0.09

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About Global Atomic

Global Atomic Corporation ( www.globalatomiccorp.com ) is a publicly listed company that provides a unique combination of high-grade uranium mine development and cash-flowing zinc concentrate production.

The Company's Uranium Division includes four deposits with the flagship project being the large, high-grade Dasa Project, discovered in 2010 by Global Atomic geologists through grassroots field exploration.  With the issuance of the Dasa Mining Permit and an Environmental Compliance Certificate by the Republic of Niger , the Dasa Project is fully permitted for commercial production.  The Phase 1 Feasibility Study for Dasa was filed in December 2021 and estimates Yellowcake production to commence by the end of 2024.  Mine excavation began in Q1 2022.

Global Atomics' Base Metals Division holds a 49% interest in the Befesa Silvermet Turkey, S.L. ("BST") Joint Venture, which operates a modern zinc production plant, located in Iskenderun, Turkey . The plant recovers zinc from Electric Arc Furnace Dust ("EAFD") to produce a high-grade zinc oxide concentrate which is sold to zinc smelters around the world. The Company's joint venture partner, Befesa Zinc S.A.U. ("Befesa") listed on the Frankfurt exchange under 'BFSA', holds a 51% interest in and is the operator of the BST Joint Venture. Befesa is a market leader in EAFD recycling, with approximately 50% of the European EAFD market and facilities located throughout Europe , Asia and the United States of America .

The information in this release may contain forward-looking information under applicable securities laws.  Forward-looking information includes, but is not limited to, statements with respect to completion of any financings; Global Atomic's development potential and timetable of its operations, development and exploration assets; Global Atomics' ability to raise additional funds necessary; the future price of uranium; the estimation of mineral reserves and resources; conclusions of economic evaluation; the realization of mineral reserve estimates; the timing and amount of estimated future production, development and exploration; cost of future activities; capital and operating expenditures; success of exploration activities; mining or processing issues; currency exchange rates; government regulation of mining operations; and environmental and permitting risks.   Generally, forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "targets", "expects", "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "does not anticipate", or "believes" or variations of such words and  phrases or statements that certain actions, events or results "could", "would", "might", "will be taken", "occur" or "be achieved".  All information contained in this news release, other than statements of current or historical fact, is forward-looking information.   Statements of forward-looking information are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Global Atomic to be materially different from those expressed or implied by such forward-looking statements, including but not limited to those risks described in the annual information form of Global Atomic and in its public documents  filed on SEDAR from time to time.

Forward-looking statements are based on the opinions and estimates of management at the date such statements are made.  Although management of Global Atomic has attempted to identify important factors that could cause actual results to be materially different from those forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended.  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.  Accordingly, readers should not place undue reliance upon forward-looking statements.  Global Atomic does not undertake to update any forward-looking statements, except in accordance with applicable securities law.  Readers should also review the risks and uncertainties sections of Global Atomics' annual and interim MD&As.

The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy and accuracy of this news release.

SOURCE Global Atomic Corporation

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