Mr. Drew Zimmerman reports

STALLION URANIUM BEGINS MOBILIZATION EFFORTS FOR MAIDEN DRILL PROGRAM ON COFFER URANIUM PROJECT

Stallion Uranium Corp. has begun mobilization efforts in preparation for the company's maiden drill program on the high-priority Appaloosa target on its 100-per-cent-owned Coffer project in the prolific Southwestern Athabasca basin in Saskatchewan, Canada.

Highlights:

• 3,300 metres across three holes in the Appaloosa target zone;
• The objective of the 2024 program is the discovery of uranium mineralization associated with the conductive electromagnetic (EM) anomalies;
• Drill holes are targeting multiple stacked geophysical anomalies, including conductive EM (electromagnetic) anomalies, gravity-low anomalies and magnetic-low anomalies;
• Stallion holds a 100-per-cent ownership of the project.

"We are incredibly excited to be starting the preparations for our maiden drill program, a key milestone for the company. The Appaloosa target is incredibly compelling and is born from our efforts over the past year. Our strategy is to find multiple high-potential Tier 1 targets by completing effective regional surveys that map key conductive corridors, allowing our team to prioritize follow-up surveys in preparation for drill testing," stated Drew Zimmerman, chief executive officer. "This pragmatic approach gives our team high confidence in the Appaloosa target, while our strategy will continue to develop additional Tier 1 targets for drill testing."

Drill program

The program will be the first diamond drill program initiated on Stallion's 100-per-cent-owned Coffer project. The company will utilize one drill to complete a 3,300-metre program between three holes on the Appaloosa target. The target area hosts an approximately six-kilometre-long electromagnetic conductor located on the contact between the Beaverlodge and Taltson geological domains. The contact between two domains is an optimal location for uranium-bearing fluid to concentrate. The drill targets are along the identified EM conductor and will focus on coincident gravity and magnetic lows associated with alteration (which have the potential to host uranium mineralization). The results from the recent ground EM survey are being plate modelled, which will be integrated into the final drill targeting models.

Stallion will be announcing any anomalous scintillometer results from the program as a preliminary indication of the presence of radioactive materials if they are encountered. Final assay results will be released when available and are expected in the summer of 2024 after lithogeochemical analysis is completed.

The Coffer project is located 224 kilometres north of the community of La Loche and is accessible by Highway 955. The accommodations will be located 12 kilometres away from the drill site and will be accessible by drill trails. The company has secured all necessary permits and approvals for the program.

"The 2024 drilling program on the Coffer project is the result of the analysis of multiple geophysical surveys, ensuring that we have located the target area with the highest potential to intercept uranium mineralization," commented Darren Slugoski, vice-president, exploration, Canada. "The maiden drill program is the culmination and continuation of a multiyear exploration strategy to find one or more deposits across our large land package."

Appaloosa target

The Appaloosa target is located at the north end of the 100-per-cent-owned Coffer project and was first identified from the regional VTEM (versatile time-domain electromagnetic) survey conducted in early 2023. The survey data, when compiled and modelled with all available historical data, showed the key characteristics for potential uranium mineralization. To best refine drill targets, Stallion utilized the latest technology to complete an advanced ground TDEM (time-domain electromagnetic) survey over the target area. Further bolstering confidence in the target, the Shea Creek deposit (Orano/UEC) of over 93 million pounds is only 13 kilometres west of the target area, highlighting the uranium endowment in the area. The company is currently completing the plate modelling for exact drill targets while the temporary work camp and trails are being constructed. This three-hole, 3,300-metre drill program at Appaloosa marks the company's first drilling campaign in its efforts to discover the next significant uranium deposit in the Athabasca basin.

Qualifying statement

The foregoing scientific and technical disclosures for Stallion Uranium have been reviewed by Darren 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 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 Corp., holds the largest contiguous project in the western Athabasca basin adjacent to multiple high-grade discovery zones.

The company's leadership and advisory teams comprise uranium and precious metal 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.