Mr. Drew Zimmerman reports

STALLION URANIUM PROVIDES CORPORATE UPDATE

Stallion Uranium Corp. has provided a corporate update on Stallion's current exploration efforts. Stallion holds the largest exploration land package in the southwestern Athabasca basin and is following its proven road map to discovery, learned through decades of exploration in the basin, to increase the probability of finding the next significant uranium discovery in the Athabasca basin.

Stallion's maiden drill program

Stallion maiden drill program is under way, as announced on March 6, and continues to be progressing. Stallion has planned three holes totalling 3,300 metres utilizing a diamond core drill to test for uranium mineralization on its 100-per-cent-owned Appaloosa target. The target is an approximately six-kilometre-long electromagnetic conductor located along the contact between the Beaverlodge and Taltson geological domains that can create an optimal location for uranium-bearing fluid to concentrate. Each of the drill holes is focusing on coincident gravity and magnetic lows associated with alteration which are known to be associated with uranium deposits. Given that these are the first drill holes on Stallion's projects, data collected from each drill hole are actively being used to adjust and fine-tune the next drill hole to enhance the outcomes of uranium mineralization. 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.

Stallion and Atha Energy joint venture project

Stallion completed the largest single airborne geophysical survey in the southwestern Athabasca basin, as announced on Fe. 22. This survey was able to uncover over 560 km of conductive trends, a significant achievement in adding several new high-priority target areas that could have the potential to host uranium mineralization. The preliminary results were released from the survey and the team is now working with Convolutions Geoscience to take the data through advanced processing and modelling. The advanced interpretation will allow for Stallion to pragmatically prioritize the key target areas for additional survey work as the target areas move along Stallion's road map of discovery. The preliminary data indicate that these additional areas will provide the company with several tier one targets for drill testing.

Gunter Lake project

Stallion has completed an airborne gravity survey over its 100-per-cent-owned Gunter Lake project that was announced on Jan. 31. This survey utilized the latest technology to record the density in the underlying rocks and has now started to be processed. These data when compiled with VTEM (versatile time-domain EM) survey data over the entire project and MobileMT data over the Coyote target will be interpreted to find the most prospective areas for drill targeting, providing the company with further high-priority target areas and potential drill-ready targets.

Upper Mirror River project

Stallion staked six new mineral claims this year, half announced Jan. 17 and the remaining on Feb. 28, giving the company a new 100-per-cent-owned, highly prospective project, covering 31,645 hectares. This project was staked to cover the extensions of conductive corridors that were newly discovered as part of the regional airborne survey completed over the Atha JV project. In uncovering unknown conductive trends Stallion continues to build on its advantage of completing the first effective survey work at scale across much of the southwestern Athabasca basin. Stallion is evaluating the next steps across this project as it believes it will hold several kilometre-long conductive corridors and when aligned with magnetic lows signatures are known to correlate with uranium mineralization, providing the company with additional high-priority target areas.

Conclusion

Stallion has been executing on its road map to discovery by taking a land package of over 3,000 square km in the acclaimed yet underexplored southwestern Athabasca basin from regional survey, all the way through to a maiden drill program. Stallion's vision was to effectively explore at scale, knowing there is a high probability of have a world-class uranium deposit in the southwestern Athabasca basin at the depths of 300 to 1,000 m, as there are over one billion pounds of uranium at the same depth in the eastern Athabasca basin. Stallion is taking the unexplored southwestern basin through the work done in the 1970s and 80s in the eastern basin, only aided with the use of the latest technological advancements. Following the proven road map to discovery the company has been able to uncover several high-potential target areas from regional surveys. They have now advanced the compelling Appaloosa target through advanced ground surveys and are currently in the process of drill testing. Simultaneously the company is upgrading additional target areas to have multiple Tier 1 targets that all have the potential of hosting a world class uranium deposit.

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 km in the Athabasca basin, home to the largest high-grade uranium deposits in the world. The company, with JV partner Atha Energy, 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.