Mr. Jon Bey reports

STANDARD URANIUM CONFIRMS URANIUM MINERALIZATION IN MULTIPLE DRILL HOLES AT ATLANTIC PROJECT; PROVIDES ANALYTICAL HIGHLIGHTS FROM WINTER DRILL PROGRAM

Standard Uranium Ltd. has released a summary of analytical results from the inaugural winter 2024 drill program at its 3,061-hectare Atlantic project highlighting uranium mineralization in multiple drill holes. Atlantic is situated in the prolific eastern Athabasca basin, Northern Saskatchewan.

The project is currently under option to ATCO Mining Inc. (the optionee) an arm's-length company listed on the Canadian Securities Exchange (CSE: ATCM). Pursuant to the option, the optionee can earn a 75-per-cent interest in Atlantic over three years. The optionee-financed winter 2024 drill program contributes to satisfying the first year of minimum exploration expenditures required by the option.

Highlights:

• Uranium mineralization confirmed: Analytical results from the winter 2024 drill program at the project confirmed highly anomalous uranium in drill holes ATL-24-002, ATL-24-004A and ATL-24-005A, coinciding with prospective structural zones and favourable alteration including dravite-rich clays.
• Sandstone and basement-hosted uranium: Multiple zones of elevated uranium linked to the sub-Athabasca unconformity and basement structural zones were intersected, indicating a uranium-fertile system.
• Uranium pathfinders: Several key uranium pathfinder elements are present in anomalous quantities in multiple drill holes, providing vectoring information for future programs. Intersections of dravitic-clay associated with structural zones has been confirmed in drill holes ATL-24-002, ATL-24-004A and ATL-24-005A.
• Verified targets: Massive structural disruption confirmed in the sandstone column and multiple wide (greater than 10 metres) brittle-reactivated graphitic shear zones confirm the main interpreted electromagnetic (EM) corridor on the western claim block which was not reached by previous operators. The inaugural program results have confirmed the company's exploration thesis on the project, highlighting a uranium-fertile system with several kilometres of still untested strike length across the project.
• Follow-up targets and next steps: Atlantic holds significant upside for discovery along the untested portions of the E-W (east-west) conductor system. Supplementary geophysical surveys over the central claim blocks are currently being planned and will provide further target areas for phase II and III drilling, along with the additional untested gravity low anomalies on the western block identified in 2022.

"Confirming uranium mineralization and dravite alteration in multiple holes from our inaugural drill program at Atlantic is a fantastic first result. In addition, highly anomalous pathfinder elements coupled with the presence of a significant structural framework on the property provides the ideal conditions for high-grade unconformity-related uranium mineralization to follow up on," said Sean Hillacre, Standard Uranium's vice-president of exploration. "The scale and intensity of deformation in the basement rocks paired with strong alteration in the sandstone is highly prospective and we are just beginning to reveal the compelling uranium story along this 18 km long trend next door to one of the highest-grade uranium deposits in the world."

The Atlantic project covers 6.5 km of an 18 km long, east-west-trending conductive exploration trend which hosts numerous uranium occurrences. The company completed a high-resolution ground gravity survey on the western claim block in 2022, revealing multiple subsurface density anomalies, potentially representing significant hydrothermal alteration zones in the sandstone rooted to basement conductors.

The Atlantic project boasts all the key characteristics to host a high-grade unconformity-related uranium deposit, and the results of the inaugural drill program on the project have strengthened the validity of the exploration thesis on the project. Follow-up targets are being planned as geological data from the winter 2024 program continues to be processed and interpreted. Core samples from the program have been submitted to Saskatchewan Research Council geoanalytical laboratory (SRC) in Saskatoon, for geochemical assay and results will be reported once received and examined by the technical team in accordance with the company's internal quality control processes.

Winter 2024 drill program analytical highlights

The winter 2024 drill program comprised 3,316 metres of diamond drilling across five drill holes (first attached table). Inaugural drilling intersected the key characteristics of a uranium-bearing mineralized system in previously untested Target Area A (seen in a figure in the original version of this news release), confirming the presence of a significant graphitic fault system in the basement rock linked to uranium mineralization and prospective hydrothermal alteration at the unconformity and in the basement rock. Uranium analytical highlights are summarized in the second attached table and anomalous uranium pathfinder elements highlights are summarized in the third attached table.

The highly prospective drilling results are visually summarized in schematic cross-sections highlighting dravite alteration, structure, and uranium results intersected during the inaugural drill program in figures shown in the original version of this release.

The drill program was designed to follow up on highly anomalous uranium results returned from drill hole BL-16-32, in addition to testing the newly outlined gravity lows defined by the 2022 ground survey. On the western Atlantic claim block, drilling by Denison Mines in 2016 (hole BL-16-32) identified 342 ppm (parts per million) uranium over 0.5 metre at the base of the sandstone, just north of Target Area A. Winter drilling was focused in Target Area A which is defined by a 1,400-metre-by-850-metre density-low anomaly coinciding with stacked EM conductors and an interpreted regional fault. A figure in the original release highlights winter 2024 drilling focused on testing the 3-D density anomaly target at the unconformity linked to basement EM conductors and interpreted fault trends.

Samples collected for analysis were sent to SRC Geoanalytical Laboratories in Saskatoon, Sask., for preparation, processing and ICP-MS multielement analysis using total and partial digestion, gold by fire assay, and boron by fusion. Sandstone samples were tested using the ICP-MS1 uranium multielement exploration package plus boron. Basement samples were tested with ICP-MS2 uranium multielement exploration package plus boron. All sandstone samples, and basement samples marked as radioactive upon arrival to the lab were also analyzed using the U3O8 assay (reported in wt per cent). Basement rock split interval samples range from 0.1 to 0.5 m and sandstone composite samples comprise multiple equal sized full core pucks spaced over the sample interval. 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 (QA/QC) protocols. All samples passed internal QA/QC protocols and the results presented in this release are deemed complete, reliable and repeatable.

Samples containing clay alteration were sent to Rekasa Rocks Inc. in Saskatoon, Sask., to be analyzed by short wavelength infrared reflectance (SWIR) via a portable infrared mineral analyzer (PIMA) to verify clay species.

The scientific and technical information contained in this news release has been reviewed, verified and approved by Sean Hillacre, PGeo, president and vice-president of exploration of the company and a qualified person as defined in National Instrument 43-101.

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 209,867 acres (84,930 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 has successfully completed four joint venture earn-in partnerships on their Sun Dog, Canary, Atlantic and Ascent projects totalling over $31-million in work commitments over the next three years from 2024 to 2027.

Standard Uranium's Davidson River project, in the southwest 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 eight eastern Athabasca projects comprise 30 mineral claims over 32,838 hectares. 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 northwest part of the Athabasca basin, Saskatchewan, comprised 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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