Stallion Uranium Corp. provided a corporate update on Stallion's current exploration efforts. Stallion holds the largest exploration land package in the Southwestern Athabasca Basin and are following their proven roadmap 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 maiden drill program is underway, as announced on March 6th, and continues to be progressing. Stallion has planned 3 holes totaling 3,300m utilizing a diamond core drill to test for uranium mineralization on it's 100% owned Appaloosa target. The target is a ~6 km long EM 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 are focusing on a 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 is 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 drillometer 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 completed the largest single airborne geophysical survey in the southwestern Athabasca basin, as announced on February 22nd. This survey was able to uncover over 560km of conductive trends, a significant achievement in adding several new high priority target areas that could have the potential to host uranium mineralization.

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 roadmap 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% owned Gunter Lake project that was announced on January 31st.

This survey utilized the latest technology to record the density in the underlying rocks and has now started to be processed. This data when compiled with VTEM 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 6 new mineral claims this year, half announced January 17th and the remaining on February 28th, giving the company a new 100% 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 kilometres 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.