Mr. Drew Zimmerman reports

STALLION URANIUM ANNOUNCES CLOSING OF LISTED ISSUER FINANCING EXEMPTION (LIFE) NON-BROKERED PRIVATE PLACEMENT

Further to Stallion Uranium Corp.'s news release dated Jan. 23, 2024, it has closed a non-brokered private placement for aggregate gross proceeds of $3,883,821.90, from the sale of the following:

• 4,779,460 federal flow-through units of the company (each, an FFT unit) at a price of 32 cents per FFT unit on a charity flow-through basis;
• 4,248,318 Saskatchewan flow-through units of the company (each, an SFT unit) at the price of 36 cents per SFT unit on a charity flow-through basis;
• 3,750,001 units of the company at a price of 22 cents per unit.

Each FFT unit consists of one common share of the company to be issued as a flow-through share within the meaning of the Income Tax Act (Canada) and one-half of one common share purchase warrant. Each SFT unit consists of one common share of the company to be issued as a flow-through share (as defined in Subsection 66(15) of the tax act) and one-half of one warrant. Each unit consists of one common share of the company and one-half of one warrant. Each warrant shall entitle the holder to purchase one common share of the company at a price of 36 cents at any time on or before that date which is 24 months after the closing date of the offering.

Proceeds from the sale of FFT shares will be used to incur Canadian exploration expenses as defined in Subsection 66.1(6) of the Income Tax Act and flow-through critical mineral mining expenditures as defined in Subsection 127(9) of the Income Tax Act. Proceeds from the sale of the SFT shares will be used to incur Canadian exploration expenses that are flow-through critical mineral mining expenditures (as such terms are defined in the tax act) and eligible flow-through mining expenditures (as defined in paragraph 2(2)(b) of the Mineral Exploration Tax Credit Regulations, 2014 (Saskatchewan)). Such proceeds will be renounced to the subscribers with an effective date not later than Dec. 31, 2024, in the aggregate amount of not less than (i) in the case of the FFT shares, 0.31999 multiplied by the number of FFT units sold pursuant to the offering, and (ii) in the case of the SFT shares, 0.35999 multiplied by the number of SFT units sold pursuant to the offering.

The offered securities were issued pursuant to the listed issuer financing exemption under Part 5A of NI 45-106 and shall be immediately freely tradeable under applicable Canadian securities legislation.

Pursuant to the offering, the company has paid a total of $196,696 and issued an aggregate 805,194 finder's warrants to arm's-length parties, with each non-transferable finder's warrant exercisable at any time prior to the date that is 24 months from the closing date to acquire common shares of the company at an exercise price of 22 cents per common share. In addition, the company has paid $100,000 as an advisory fee to Canaccord Genuity Corp.

The company intends to use the proceeds raised from the offering for exploration and for general working capital purposes. The offering is subject to the final approval of the TSX Venture Exchange.

About Stallion Uranium Corp.

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

We seek Safe Harbor.