Standard Uranium Samples Off-Scale Uranium Mineralization at Surface, Gunnar Uranium Project

Standard Uranium Ltd. ("Standard Uranium" or the "Company") (TSX-V: STND) (Frankfurt: FWB:9SU) is pleased to announce that off-scale uranium mineralization has been sampled at surface from historical uranium prospects at its 15,770 hectare, 100% owned, Gunnar Uranium Project (the "Project"). The Project is located at the northwest edge of the Athabasca Basin, Saskatchewan, and is south of the first uranium mining camp in Canada, the Beaverlodge District, near Uranium City.

Geologists have thus far visited the two main exploration targets on the project, the JSW1 prospect, herein re-named the " Java Target ", and the historical Stewart Island Deposit, herein re-named the " Skye Target ". In addition, a previously un-documented strongly radioactive occurrence has been located near two historically documented prospects, and the area has been collectively named the "Haven Target" . These three target areas will have a high priority, given the historically observed radioactivity at surface hosted in Athabasca Supergroup sandstones, and their proximity to nearby targets at the unconformity and within the basement rocks. (Figure 1).

As noted in the July 15, 2020 news release, the target areas at the Gunnar 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, re-activated and graphitized structures, Athabasca Supergroup sandstone cover, and favourable basement rheology contrasts.

Java Target Historical Context

The Java Target at the north-west end of Johnston Island encompasses the historical JNW-1 prospect and the unconformity-related uranium target to the north The JNW-1 prospect was channel sampled in 1977 by SMDC with results of 0.43% U ₃ O ₈ over 4.2 m at surface. Individual grab samples were as high as 12.4% U ₃ O ₈ .

Located approximately 350 metres to the north of the JNW-1 prospect is a 1.5 km long electromagnetic trend that was drill-tested by several drill holes which encountered strongly altered and brecciated, chlorite-, sulphide-, and graphite-bearing metasediments underlying the Athabasca sandstone. The best hole of the area, LAO-1, contains 0.10% U ₃ O ₈ over 1 metre. (Figure 2) is a stylized representation of the exploration model at the Java target area.

2020 Follow-up at the Java Target

The Standard Uranium geologists recently re-located and sampled the historical JNW-1 prospect and defined a surface radioactivity trend that is 30-metres long and between 2 and 8 metres wide. In total, 14 samples have been collected, some of which host off-scale uranium mineralization (herein defined as >65,000 CPS with a hand-held RS-125 Spectrometer) as the samples host strong fracture-related hematite and limonite alteration; with millimeter-scale uraninite mineralization along bedding planes and fractures, locally associated with patches of yellow altered uranium oxide (Figure 3A and 3B).

Skye Target Historical Context

At the south end of Steward Island is the Stewart Island uranium deposit that was defined during exploration between 1960 and 1969. A minor small historical resource of 2,561 tons averaging 0.476% U ₃ O ₈ was defined in three separate zones (*). This "perched" mineralization is hosted in a single Athabasca Supergroup sandstone horizon. A historical channel sample across the surface exposure returned 1.05% U ₃ O ₈ over 2.6 m. Historical drill hole N-2 drilled at -30° dip intersected 0.9% U ₃ O ₈ over 5.49 m. The Skye target area encompasses the historical Stewart Island uranium deposit in addition to the un-tested conductive rocks to the west.

2020 Follow-up at the Skye Target

The Stewart Island deposit at the Skye target is composed of three main uranium zones. The strongest surface showing at the Stewart Island deposit, the main zone, is located at the edge of the shore and was not accessible this season due to remarkably high water levels. The western zone was sampled in outcrop with radioactivity measurements as high as 20,000 CPS (with an RS-125 Spectrometer). Several radioactive boulders along the shoreline were also sampled. The Eastern zone was re-located and sampled within Athabasca Supergroup rocks which exhibit off-scale uranium mineralization (Figure 3C) (>65,000 CPS with RS-125 Spectrometer).

2020 New Haven Target Area

Approximately 2.3 kilometres southeast of the Java target area on Johnston Island, the geologists have sampled an un-documented radioactive prospect bearing strong uranium mineralization, herein named the Haven prospect. Additionally, they re-located the historical Walli and JSW2 prospects on the west end of Johnston Island. Collectively, these areas are known as the Haven Target Area. Coupled with electromagnetic geophysical targets nearby, the area represents an unconformity-related uranium exploration target, warranting a similar exploration model as the Java and Skye Target Areas.

The JSW2 prospect is described as a 50-metre long and 0.5 to 2 metre wide radioactive trend with samples collected reaching a maximum of 9,200 CPS as measured with a hand-held RS-125 spectrometer. The sample containing the strongest mineralization was collected from a silicified and fractured sandstone with strong hematite and limonite alteration.
The Walli prospect is described as a series of historical trenches along a 15-metre long radioactive trend. Samples collected contain radioactivity measurements up to 55,000 CPS on the hand-held RS-125 Spectrometer. The most radioactive sample was collected from a quartzite unit with strong pervasive hematite alteration.
The Haven prospect is a previously un-documented occurrence that shows evidence of being trench-sampled in the past. Samples were collected with off-scale uranium mineralization (>65,000 CPS with a RS-125 Spectrometer). The rocks in the area are described as hematite-altered and heavily fractured Athabasca Supergroup conglomerate (Figure 3D).

Neil McCallum, P.Geol, VP Exploration for Standard Uranium commented: "The current results from the Gunnar Project are incredibly encouraging and have exceeded our expectations. We are currently planning a follow-up site visit in October and are starting the process of organizing a proposal to drill-test this winter season. The project has a sizeable amount of historical regional exploration from the 1978-1981 exploration era by SMDC (a predecessor company to Cameco), and then again briefly by CanAlaska Uranium during 2006 to 2008. Our recent reconnaissance work, in combination with the historical regional exploration work has laid the foundation for a focussed effort with a goal of making a new economic uranium discovery."

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.

*The historical mineral resource estimates listed above either use categories that are not compliant with National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101") and cannot be compared to NI 43-101 categories, or are not current estimates as prescribed by NI 43-101, and therefore should not be relied upon. A qualified person has not done sufficient work to classify the estimates as current resources and Standard is not treating the estimates as a current resource estimate. However, the estimates are relevant to guiding the Company's exploration plans and provide geological information regarding the type of mineralization that could be present in the Gunnar Project area.

Natural gamma radiation in outcrop and samples reported in this news release was measured in Counts Per Second (CPS) using a Radiation Solutions Inc. RS-125 gamma-ray spectrometer. The reader is cautioned that total count gamma readings may not be directly or uniformly related to uranium grades of the rock sample measured; they should be used only as a preliminary indication of the presence of radioactive minerals.

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 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 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 May 2, 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.

Figures accompanying this announcement are available at

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Madagascar Government Lifts Suspension on Energy Fuels' Toliara Critical Minerals Project

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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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