Mr. Arni Johannson reports

URANIUM STANDARD ELECTS NOT TO PROCEED WITH AURORA PROJECT

Uranium Standard Resources Ltd. has elected not to proceed with the Aurora uranium project located in southeast Oregon at this time. The company had entered into a purchase agreement with Energy Ventures Ltd. of Perth, Australia, as previously announced on March 2, 2015, to acquire a 100-per-cent interest in the project.

Arni Johannson, founder, director and chief executive officer, commented: "Regarding our sector, we remain very optimistic but have experienced trading volatility from unknown sources putting downside pressure on our specific share price. At this time, we need to recoil and focus on creating a foundation from which we can build the company on. As such, we are going to focus on smaller achievable targets from within our database to create critical mass. I'd like to thank the Energy Ventures management team, specifically executive director Bill Fry, for their time and energy. Collectively, both sides are disappointed the transaction could not be completed."