Standard Uranium Ltd. announced analytical highlights from the winter drill program and details of the fall mapping program at its 100% owned Sun Dog Project (“Sun Dog”). Sun Dog is located at the northwestern edge of the Athabasca Basin, Saskatchewan, and is south of the first uranium mining camp in Canada, the Beaverlodge District, near Uranium City. Winter 2022 Drill Program Analytical Highlights: The inaugural 2022 winter program at Sun Dog consisted of four diamond drill holes comprising 1,242.3 m completed at the Haven (SD-22-001), Johnston-Bay (SD-22-002, SD-22-003), and Java (SD-22-004) target areas.

Systematic and feature-based whole rock geochemistry samples were taken from basement rocks in all drill holes in addition to composite samples in the overlying Athabasca supergroup sedimentary rocks. Although analytical results were received later than anticipated due to high demand on analytical laboratories, analysis and interpretation of the results are highly encouraging as the Company plans the 2023 Sun Dog drill program. Strongly elevated pathfinder elements such as boron and moderately anomalous uranium (partial digestion) indicate the possible proximity to mineralization at depth and encourage continued exploration on the Project in 2023.

Dravite is dispersed throughout drill hole SD-22-001, collared 325 m from surficial exposure of high-grade uranium mineralization. This supports the utility of dravite as a vectoring tool and indicates a robust alteration profile within the Haven target area. Multi-faceted lead (Pb) isotope analysis has shown that Pb isotope ratios may be helpful as an additional vectoring tool, particularly within basement rocks.

A strong correlation between Pb isotopes and uranium is apparent in basement lithologies, which will be integrated into 2023 drill hole targeting. In addition, GoldSpot Discoveries Corp. will be running historical and current geological, geophysical, and geochemical information through data driven machine learning practices to further refine drill targets for the 2023 season.

Priority follow up targets are slated to be drilled during a larger-scale drill program in February-March 2023. The Haven and Johnston-Bay target areas are priority follow-up for the next program based on dravite alteration and significant boron, structure, and anomalous uranium and pathfinder elements. During the planned two-drill program for 2023, the Skye target area to the East of Johnston Island will also be tested for the first time.

Analytical results have been received and reviewed, with highlights outlined below: SD-22-001; Haven target: 325 m step out from off-scale surface mineralization at Haven (>65,535 cps); Intersection of dravite-quartz hydraulic breccia from 320.0 to 320.3 m – Dravite confirmed through spectroscopic analysis and correlate to returned boron values up to 489 ppm in Athabasca sandstone and 10,400 ppm in basement rock. SD-22-002; J-Bay target: 543 m step out SW along strike from mineralization in drill hole LA1-005 (620 cps at 148.8 m); Intersection of highly deformed graphitic metapelite, quartz-hematite and limonite hydrothermal breccias; Anomalous pathfinder elements associated with basement structures and elevated uranium (up to 94.8 ppm), including boron (up to 1,560 ppm), vanadium (up to 335 ppm), nickel (up to 100 ppm), and anomalous lead ratios. SD-22-003; J-Bay target:450 m step out NNW along strike from mineralization in drill hole LA1-005: Weakly anomalous arsenic and nickel concentration throughout the sandstone with weakly anomalous boron (147 to 181 ppm) from 27 to 60 m; Elevated pathfinder elements throughout basement rock from 134 to 167 m, including vanadium (up to 506 ppm), nickel (up to 249 ppm), copper (up to 22 ppm), cobalt (up to 42 ppm), and molybdenum (up to 3.5 ppm); Illite-dravite alteration confirmed through spectroscopy at 108.5 m. SD-22-004; Java target: 330 m step out NE along strike from mineralization in drill hole LA0-1 (2,100 cps at 94.5 m; 1,046 ppm U over 1.0 m) and 250 m NE of drill hole LA1-015 (2,825 cps at 100.9 m; 725 ppm U over 1.0 m).

Altered orthogneiss units with metre-scale brittle structures. Moderately anomalous metal concentrations from 45 to 46.1 m in basal Athabasca conglomerate dissolution zone including 12.1 ppm copper, 18.5 ppm zinc, 11.8 ppm nickel, and 1.22 ppm silver Elevated molybdenum up to 22.2 ppm in chlorite and quartz veined fracture zone at 79.8 m 12.7 ppm uranium in crackle brecciated damage zone surrounding pink quartz veining from 211 to 211.5 m From September 19th to 25th, the Standard Uranium technical team completed additional bedrock mapping and scintillometer prospecting on the Project, collecting structural measurements and mapping surface exposures of uranium mineralization. The surface expression of mineralization on south Johnston Island (Haven-Walli target areas) was expanded, with scintillometer readings greater than 10,000 cps and locally off-scale** (>65,535 cps).

The expansion of the Haven surface showing bolsters follow-up land drill targets corresponding to gravity low anomalies. In addition, the fall mapping program revealed outcrop showings of brecciated Athabasca sandstone containing dravite-kaolinite alteration in both the Skye and Haven target areas. Dravite is an alteration phase indicative of proximity to uranium mineralization in the Athabasca Basin, also intersected in drill holes SD-22-001 and -002.

Structural measurements collected during field mapping added to the understanding of the structural architecture controlling uranium mineralization on the Project. This invaluable data will add an additional layer of information to drill hole targeting for the 2023 drill program.