Mr. Jon Bey reports

STANDARD URANIUM INITIATES INAUGURAL DRILL PROGRAM AT THE ROCAS URANIUM PROJECT, SOUTHEAST ATHABASCA BASIN

Drilling activities have commenced at Standard Uranium Ltd.'s Rocas uranium project located 75 kilometres southwest of the Key Lake mine and mill facilities along Highway 914. Field crews have arrived at the project and drilling has commenced on schedule.

Highlights:

• Drilling under way: Drilling activities began on March 16, 2026. Drill holes have been designed to target shallow high-grade basement-hosted uranium mineralization across multiple high-priority target areas. The program is anticipated to span approximately five weeks.
• Robust and shallow drill targets: The phase I program will comprise approximately 1,200 to 1,500 metres of diamond drilling across six to eight drill holes. Targets are located at shallow depths less than 200 metres below surface.
• Untested structural corridors: For the first time in the project's history, the company will drill test the 7.5-kilometre electromagnetic (EM) corridor on Rocas. This structural trend hosts historical surface mineralization with grab samples returning up to 0.50 per cent U3O8 (triuranium octoxide) and recent high-grade rare-earth element (REE) results up to 9.83 per cent TREO (total rare earth oxides) and up to 0.41 per cent U3O8 from 2025 prospecting.
• Untapped uranium potential: One diamond drill will focus on high-priority target areas along prospective VTEM corridors overlain by high-resolution ground gravity data with the proven exploration thesis of focusing on major conductor trends associated with cross-cutting faults and surficial radioactivity expressions.

"Our team and partners at Collective are excited to launch the first-ever drilling campaign at the Rocas project," said Sean Hillacre, president and vice-president of exploration. "We are applying a discovery-driven approach to an untested, project-wide corridor that is evidenced to be fertile with uranium and rare-earth elements. By integrating surface mineralization with high-confidence geophysical data, we've established robust targets to test for shallow, structurally hosted mineralization."

2026 drill program

The project is currently under a three-year earn-in option agreement with Collective Metals Inc. (Canadian Securities Exchange: COMT). Pursuant to the option agreement, Collective has been granted an option to earn a 75-per-cent interest in the project by funding $4.5-million in exploration expenditures over three years. The drill program will be funded by Collective and operated by Standard Uranium.

The Standard Uranium team arrived on site March 16 and diamond drilling on the first hole in history at Rocas is currently under way. The winter/spring program will comprise approximately 1,200 to 1,500 metres of drilling at high-priority target areas following completion of a ground gravity survey and multifaceted geophysical modeling last year. Rocas covers an area of 4,002 hectares across three mineral claims, located along highway 914 south of the Key Lake mine and mill facilities in the southeastern Athabasca basin region.

The company believes the project is highly prospective for the discovery of shallow, high-grade basement-hosted uranium mineralization. Positioned proximal to the margin of the Athabasca basin, Rocas boasts shallow drill targets with bedrock under minimal glacial till cover. Historical mineralized outcrop grab samples along approximately 900 metres of strike length, returned values ranging from 587 parts per million U (SN85073) up to 0.498 wt. per cent U3O8 (SN23901) and have never been drill tested.

Target selection for 2026 drill campaign

Targets were selected and prioritized through an iterative approach working in collaboration with Convolutions Geoscience Corp. Prospecting and mapping across the project in fall 2025 outlined multiple outcrops of favourable uranium and REE host rocks, including radioactive metasediments, pegmatites and structured orthogneiss. Structural measurements, assay results and radioactivity mapping have further refined drill targets in the 2026 target areas.

Targets are ranked and prioritized based on geophysical signature, geological/structural setting, proximity to surficial uranium occurrences of interest, historical lakebed geochemistry, and the company's recent prospecting and mapping campaign.

Qualified person statement

The scientific and technical information contained in this news release has been reviewed, verified and approved by Sean Hillacre, PGeo, president and vice-president, exploration, of the company and a qualified person as defined in National Instrument 43-101 -- Standards of Disclosure for Mineral Projects.

Samples collected for analysis were sent to SRC Geoanalytical Laboratories in Saskatoon, Sask., for preparation, processing, and ICP-MS or ICP-OES multielement analysis using total and partial digestion and boron by fusion. Radioactive samples were tested using the ICP-MS2 uranium multielement exploration package plus boron. Samples chosen for REE analysis were tested using the REE2 package by ICP-MS. All samples marked as radioactive upon arrival to the lab were also analyzed using the U3O8 assay (reported in wt. per cent). SRC is an ISO/IEC 17025:2005 and Standards Council of Canada certified analytical laboratory. Blanks, standard reference materials and repeats were inserted into the sample stream at regular intervals in accordance with Standard Uranium's quality assurance/quality control (QA/QC) protocols. All samples passed internal QA/QC protocols and the results presented in this release are deemed complete, reliable and repeatable.

REE oxide conversion factors were verified using the following formulas:

Convert REE (rare-earth element) ppm to REO (rare-earth oxide): REO per cent equals (ppm divided by atomic weight of REE) multiplied by (molecular weight of REO divided by 10,000).

Element-to-oxide conversion factor: Molecular weight of the oxide divided by atomic weight of the element. For oxides with more than one metal cation, account for the number of cations in the formula.

Historical data disclosed in this news release relating to sampling results from previous operators are historical in nature. Neither the company nor a qualified person has yet verified these data and therefore investors should not place undue reliance on such data. The company's future exploration work may include verification of the data. The company considers historical results to be relevant as an exploration guide and to assess the mineralization as well as economic potential of exploration projects. Any historical grab samples disclosed are selected samples and may not represent true underlying mineralization.

Natural gamma radiation from rocks reported in this news release was measured in counts per second (cps) using a handheld RS-125 super-spectrometer and RS-120 super-scintillometer. Readers are cautioned that scintillometer readings are not uniformly or directly related to uranium grades of the rock sample measured and should be treated only as a preliminary indication of the presence of radioactive minerals. The RS-125 and RS-120 units supplied by Radiation Solutions Inc. (RSI) have been calibrated on specially designed test pads by RSI. Standard Uranium maintains an internal QA/QC procedure for calibration and calculation of drift in radioactivity readings through three test pads containing known concentrations of radioactive minerals. Internal test pad radioactivity readings are known and regularly compared to readings measured by the handheld scintillometers for QA/QC purposes.

About Standard Uranium Ltd.

Standard Uranium is a uranium exploration company and emerging project generator poised for discovery in one of the world's premier uranium districts. The company holds interest in over 240,670 acres (97,395 hectares) in the Athabasca basin in Saskatchewan, Canada. Since its establishment, Standard Uranium has focused on the identification, acquisition and exploration of Athabasca-style uranium targets with a view to discovery and future development.

Standard Uranium's Davidson River project, in the southwest part of the Athabasca basin, Saskatchewan, comprises 10 mineral claims over 30,737 hectares. Davidson River is highly prospective for basement-hosted uranium deposits due to its location along trend from recent high-grade uranium discoveries. However, owing to the large project size with multiple targets, it remains broadly undertested by drilling. Recent intersections of wide, structurally deformed and strongly altered shear zones provide significant confidence in the exploration model and future success is expected.

Standard Uranium's eastern Athabasca projects comprise over 53,166 hectares of prospective land holdings. The eastern basin projects are highly prospective for unconformity-related and/or basement-hosted uranium deposits based on historical uranium occurrences, recently identified geophysical anomalies and location along trend from several high-grade uranium discoveries.

Standard Uranium's Sun Dog project, in the northwest part of the Athabasca basin, Saskatchewan, comprised nine mineral claims over 19,603 hectares. The Sun Dog project is highly prospective for basement- and unconformity-hosted uranium deposits yet remains largely untested by sufficient drilling despite its location proximal to uranium discoveries in the area.

We seek Safe Harbor.