Mr. Drew Zimmerman reports

STALLION DISCOVERIES HIGHLIGHTS URANIUM TARGET AREAS FROM AIRBORNE VTEM DATA & OUTLINES EXPLORATION PLAN IN THE WESTERN ATHABASCA BASIN

Stallion Discoveries Corp. has released the results on key projects from the 5,200-line-kilometre VTEM (versatile time-domain electromagnetic) Plus survey completed last winter. The data were provided to Condor Consulting to complete advanced processing of the VTEM data in combination with compiled historical data. The results include conductor picking, target prioritization, and advanced magnetic processing of the new data and integrating the historical magnetic data. The company is also outlining its fall and winter exploration plans for its western Athabasca basin uranium projects.

Stallion is very pleased with the VTEM results which demonstrate multiple areas that are responding similarly to F3 Uranium's JR zone and Uranium Energy Corp.'s Shea Creek deposits. The regional electromagnetic (EM) survey successfully identified several prospective areas across Stallion's projects with significant discovery potential. The EM anomalies identified by Condor will be followed up on with a ground EM survey this fall. Along with the EM data, the advanced processing of the magnetic data identified multiple structural complexities, as well as coincident magnetic lows, which have been known to represent uranium alteration. The company will begin delineating these areas and advancing them for Stallion's maiden drill program.

Four target zones have been identified to be followed up with exploration this fall and winter. The projects are untested with drilling and have the potential opportunity to host undiscovered uranium corridors. These additional targeted surveys will give Stallion the best opportunity to intersect uranium mineralization with drilling in the winter. In addition, Stallion plans to complete a regional inductive passive EM survey over the Stallion/Atha joint venture projects looking to extend existing conductive corridors onto this new frontier of exploration in the western Athabasca.

"Identifying these several highly prospective target areas across Stallion's large land package gives us a strong opportunity to discover the next significant uranium deposit in the basin," stated Drew Zimmerman, chief executive officer. "Historically, our land package was largely overlooked but with the new mining methods and technologies continuing to be developed, our projects are now becoming extremely relevant for future uranium exploration. As the uranium market continues to strengthen, tied to ongoing concerns over future uranium supply, we believe that this market provides the right conditions for uranium exploration at the scale Stallion that has planned for the coming year. As a team we are incredibly excited about what lies ahead in the coming months."

Fall/winter exploration plan highlights

Phase 1:

• Ground time-domain electromagnetic (TDEM) survey covering 142 line km over the Coffer project;
• Complete a 5,500 line km regional inductive passive EM survey over Atha Energy JV projects.

Phase 2:

• Diamond drilling totalling 3,000 metres on the Coffer project;
• Diamond drilling totalling 1,500 metres on the Gunter Lake project.

Darren Slugoski, vice-president, exploration, Canada, commented: "Review of the data has highlighted some highly prospective areas to be targeted with further exploration. The ground geophysical surveys expected to be completed this fall will move our projects forward with drill-ready targets. We are excited to be rapidly moving towards the drilling phase of our exploration plan this winter as we systematically test our targets. Additionally, our regional geophysical program on the Stallion/Atha JV projects will continue to define new exploration corridors and push forward a new frontier of exploration in the western Athabasca."

Exploration plan

The company is planning on completing a two-phase exploration program over fall 2023 and winter 2024. Phase 1 exploration will consist of a 142 line km ground TDEM survey over the Appaloosa, Mustang and Clydesdale target areas. The survey is planned to be completed this fall in October and November. The results will significantly increase the resolutions of the conductors, thus increasing the targeting probabilities of intersecting mineralization and alteration. In conjunction with the ground TDEM survey, a regional airborne passive EM survey will be completed on the Stallion/Atha JV projects. The survey will cover over 2,200 square km of Stallion's new frontier in the western Athabasca and consist of over 5,500 line km, giving the company pivotal data over the underexplored project.

Following the ground EM survey, phase 2 will consist of a 3,000-metre winter drilling program on the Coffer project and a 1,500-metre drill program at the Gunter Lake project. The objective will be to test the EM anomalies on the Appaloosa, Mustang and Coyote targets. The drilling phase will commence once ground TDEM results have be completed and interpreted. The company will be utilizing gamma probe and borehole EM testing of the drill holes for additional information.

Target areas

Appaloosa target -- Coffer project:

• The Appaloosa target hosts an approximately three km long conductor.
• The conductor is hosted in a gravity (Saskatchewan assessment report file 74K-0020) and coincident magnetic low, which is known to correlate to uranium alteration.
• The conductor occurs subparallel to UEC's Saskatoon Lake conductor, which hosts the Shea Creek project.
• A tensor magnetotelluric survey completed in 2008 by Orano Canada also identified the anomaly in 2008 (Saskatchewan assessment report file 74K03-0017).

Clydesdale target -- Coffer project:

• Complex structures identified in a UTEM 3 (Saskatchewan assessment report file 74K03-0022) and combined moving-loop survey and tensor magnetotelluric survey (Saskatchewan assessment report file 74K03-0017);
• Interpreted to be large conductive package hosting multiple conductive plates.

Mustang target -- Coffer project:

• Geologically complex, situated in a narrow magnetic low between edge of the Beatty River fault and the basement ridge;
• Situated proximal to the Clearwater domain which is believed to contribute to uranium mineralization in the western Athabasca basin.

Coyote target -- Gunter Lake project:

• The Coyote target occurs on the easternmost block of the Gunter Lake project hosting one conductor, which has approximately five km of strike length.
• The conductor occurs as an east-west-trending anomaly which cuts across the eastern claim block and continuous onto the Stallion/Atha JV project.

Qualifying statement

The foregoing scientific and technical disclosures for Stallion Discoveries have been reviewed by Mr. Slugoski, PGeo, vice-president, exploration, a registered member of the Professional Engineers and Geoscientists of Saskatchewan. Mr. Slugoski is a qualified person as defined by National Instrument 43-101.

About Stallion Discoveries Corp.

Stallion Discoveries is working to fuel the future with uranium through the exploration of over 3,000 square km in the Athabasca basin, home to the largest high-grade uranium deposits in the world. The company holds the largest contiguous project in the western Athabasca basin adjacent to multiple high-grade discovery zones.

Stallion's leadership and advisory teams comprise uranium and precious metals exploration experts with the capital markets experience and the technical talent for acquiring and exploring early-stage properties.

Stallion offers optionality with two gold projects in Idaho and Nevada that neighbour world-class gold deposits offering exposure to upside potential from district advancement with limited capital expenditures.

We seek Safe Harbor.