Mr. Arni Johannson reports

URANIUM STANDARD ACQUIRES WHEELER LAKE PROJECT, SOUTHERN ATHABASCA BASIN, AND RECEIVES CLEARANCE FOR OTC QUOTATION AS CRSKF

Uranium Standard Resources Ltd. has entered into an agreement to acquire a 100-per-cent interest in the Wheeler Lake project. This is the company's first acquisition since resuming trading on Oct. 2, 2014.

The Wheeler Lake project is composed of 2,682 hectares, along the southern margin of the Athabasca basin, about 17 kilometres west of the Key Lake mine, an open-pit operation, which produced about 200 million pounds of uranium. The Wheeler Lake project also borders projects controlled by Cameco, Forum Uranium and Fission 3.0. The depth of investigation is relatively shallow, between 45 to 55 metres to the basement.

Arni Johannson, founder, director and chief executive officer, commented: "We believe Wheeler Lake could have significant potential, and this acquisition is part of our foundation in building a large portfolio of advanced high-quality uranium projects to provide investors with broad-based exposure to the uranium sector. We expect investor attention to return to the uranium sector, and locking up key properties like Wheeler Lake properly positions the company for growth and elevates our stature. We should be executing our U.S. property acquisition strategy prior to the end of the year. I am very pleased our experienced team could conclude this negotiation so efficiently."

The principal target at Wheeler Lake is a series of subsurface conductive anomalies, lying within a magnetic low corridor and against a magnetic high: the A3 zone. In 2008, Triex Minerals Corp. engaged Patterson Geophysics to complete an HLEM ground survey to examine the series of northeast-trending subsurface conductive anomalies on what was then called the River Lake properties. A 50-line-kilometre survey of the A3 grid confirmed the presence of over 11 kilometres of conductors, which were interpreted to be potentially shallow conductive structures in the underlying bedrock. In 2008, Triex investigated the A3 zone with two diamond drill holes. Hole RV08-007 encountered strongly altered pelite and pegmatite, as well as sections of strongly altered clays. At a depth of 81 metres, a one-metre layer of 1,184 parts per million pegmatite-hosted thorium/rare earth elements was also identified through subsequent assay.

Under the terms of the agreement, the company can earn a 100-per-cent interest in the Wheeler Lake project by paying $25,000 upon signing, issuing 1.9 million common shares within 10 days of regulatory approval and incurring $2-million in exploration expenditures within the next six years. A 1-per-cent net royalty interest has also been granted to the vendor, of which 0.5 per cent can be purchased by the company for $1-million. This transaction remains subject to TSX Venture Exchange approval.

Additionally, the company is pleased to announce that on Oct. 23, 2014, Uranium Standard Resources received clearance from the OTC compliance unit of the Financial Industry Regulatory Authority in the United States. The company is pursuing an OTCQB listing and expects to complete this in the near term. The common stock will trade under the symbol CRSKF.