Mr. Jon Bey reports

STANDARD URANIUM CONFIRMS STRONG RADIOACTIVITY UP TO 48,000 CPS AT SURFACE AND DISCOVERS NEW SHOWINGS AT THE CORVO URANIUM PROJECT

Standard Uranium Ltd. has released preliminary results from its 2026 ground exploration program at the Corvo uranium project, currently under a three-year earn-in option agreement with Aventis Energy Inc. The 12,363-hectare project is located 60 kilometres due east of Cameco Corp.'s McArthur River mine in the eastern Athabasca basin region, Northern Saskatchewan.

From Oct. 1 to Oct. 9, 2026, the company completed a detailed prospecting and sampling program across historical uranium showings and zones of interest on the project. The program confirmed multiple zones of strong radioactivity at surface and found showings that had not previously been documented on the project. The program was financed by Aventis and operated by Standard Uranium.

Highlights:

• Up to 48,000 counts per second at the Manhattan East showing: hand-held scintillometer readings of 20,000 to 48,000 counts per second in outcrop at the historical Manhattan East showing, where previous work reported readings up to 10,600 cps;
• Strong readings beyond Manhattan East: up to 36,000 cps at a known occurrence on the Brooklyn trend and 30,000 cps at Manhattan NE, approximately 130 metres northeast of the Manhattan East showing; in total, 56 readings above the 300-count-per-second anomalous threshold were recorded, eight of them above 10,000 cps;
• New showing on the Brooklyn trend: prospecting discovered a previously undocumented radioactive occurrence reading up to 13,400 cps in altered pegmatite outcrop along the Brooklyn trend;
• Favourable uranium host rocks: geological mapping along structural and electromagnetic trends across the project confirmed the presence of deformed and hydrothermally altered basement lithologies, including metasedimentary, calc-silicate and granitic rocks, ideal for uranium and rare earth element mineralization;
• Assays pending: nine outcrop grab samples are at Saskatchewan Research Council Geoanalytical Laboratories in Saskatoon for uranium, rare earth element and whole rock analysis;
• Future exploration: following the success of the 2026 drilling and prospecting campaigns, additional geophysical programs are currently being planned to aid in target generation ahead of a 2027 drill program.

"Confirming strong, structurally controlled radioactivity at the Manhattan East showing and discovering new radioactive showings along the Brooklyn trend builds directly on the widespread uranium enrichment we intersected during our first drill program at Corvo," said Sean Hillacre, president and vice-president, exploration, of Standard Uranium. "The outcrop exposure on the project allows us to tie surface mapping and sampling to our new drilling and geochemical data sets, and these results will feed directly into drill target refinement ahead of our planned 2027 drilling."

2026 prospecting program -- preliminary results

Beginning Oct. 1 and concluding Oct. 9, 2026, the Standard Uranium technical team completed a detailed mapping, prospecting and sampling program to ground-truth and expand on historical uranium showings at surface on the project. The program followed up on the winter 2026 inaugural drill program, the first drilling on the project in more than 40 years, which returned anomalous uranium in all nine completed holes.

• More than 100 detailed geological observations, structural measurements and scintillometer readings were taken from outcrops across the project along the Manhattan and Brooklyn trends, in addition to the Dorward, Unnamed, Finger, Hook and Sheppard Lake areas;
• Prospecting confirmed and upgraded the historical Manhattan East showing, where previous work reported readings up to 10,600 cps; the 2026 program measured 20,000 cps to 48,000 cps in outcrop at the showing, and a further reading of 30,000 cps approximately 130 m to the northeast (Manhattan NE), with samples collected from both locations;
• Newly discovered zone of highly anomalous radioactivity along the Brooklyn trend measuring up to 13,400 cps within altered pegmatite outcrop;
• Along the Brooklyn trend, a historical occurrence previously reported at 20,000 cps was upgraded to 36,000 cps in hematite-altered alkali granite gneiss;
• A total of 56 hand-held scintillometer readings of anomalous radioactivity greater than 300 cps were recorded, including eight measurements greater than 10,000 cps at surface;
• A total of nine outcrop grab samples were collected and submitted to Saskatchewan Research Council Geoanalytical Laboratories in Saskatoon, Sask., for whole rock, uranium and rare earth element geochemical analysis;
• Prospecting for radioactive boulders and outcrop was completed using hand-held RS-120 superscintillometers and RS-125 superspectrometers manufactured by Radiation Solutions Inc.

Next steps

Assay results from the nine grab samples will be released when they are received from SRC and reviewed by the qualified person. Standard Uranium is designing supplementary geophysical programs to refine drill targets, integrating the new surface data with the winter 2026 drilling and geochemical data sets. A second drill program is planned for 2027.

About the Corvo project

The Corvo project lies at the eastern margin of the Athabasca basin, consisting of 14 mineral dispositions totalling 12,363 hectares. The project was recently expanded to cover 29.3 kilometres of prospective strike length along three northeast-trending magnetic low/electromagnetics conductor corridors. A definitive property option agreement was signed and announced by the company in May, 2025, to allow Aventis Energy to acquire an up-to-75-per-cent interest in the Corvo project by completing a three-year earn-in option totalling $4.5-million in exploration expenditures and $950,000 in combined consideration payments and shares.

The company believes the project is highly prospective for the discovery of shallow, high-grade basement-hosted uranium mineralization akin to the Rabbit Lake deposit and the nearby Gemini and Ackio mineralized zones. Corvo boasts shallow drill targets with bedrock under minimal cover of glacial till. Several outcrop showings of mineralized veins and fractures are present on the project, notably the Manhattan showing that returned sample results up to 8.1 per cent triuranium octoxide at surface.

The winter 2026 inaugural drill program, the first drilling on the project in more than 40 years, completed 2,457 metres in 10 reconnaissance holes at the Manhattan, Brooklyn and Tribeca target areas. Nine holes were completed, and one was abandoned due to ground conditions. All nine completed holes returned anomalous uranium, including 13 metres of highly anomalous uranium (greater than 100 parts per million uranium, partial digestion). Intervals are drilled core lengths, and true widths are not known.

Qualified person statement

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

Geochemical assays are pending. 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. 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 protocols. All sample results will be subject to internal QA/QC protocols prior to subsequent release.

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 using a hand-held RS-125 superspectrometer and RS-120 superscintillometer. 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. Because the orientation of mineralization is unknown, true widths are unknown and reported intervals represent core lengths. The RS-125 and RS-120 units supplied by Radiation Solutions Inc. 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 with readings measured by the hand-held scintillometers for QA/QC purposes.

About Standard Uranium Ltd.

Standard Uranium is a uranium exploration company and emerging project generator poised for discovery in the world's richest uranium district. The company holds interest in over 272,035 acres (110,089 hectares) in the world-class 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 southwestern 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 59,748 hectares of prospective landholdings. 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 northwestern part of the Athabasca basin, Saskatchewan, is composed of 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.

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