Standard Uranium Ltd. announced that diamond drilling has begun at its 100% owned Sun Dog Project. 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. Sun Dog – Winter 2022 Drill Program: The Company has received the results of a high-resolution ground gravity survey completed over the Skye, Haven, and Java target areas on the Project, further refining high-priority uranium drill targets across the 15,770-hectare property (Figure 1).

Several gravity-low anomalies have been identified and coincide with breaks or flexures in electromagnetic (EM) conductors under Athabasca sandstone cover, providing compelling ready-to-drill unconformity-related uranium targets. The Standard Uranium team arrived at the Project on March 1st, and drilling commenced at the first Skye target drill hole on March 4th, 2022. In addition, a high-resolution UAV magnetic survey will be carried out over the coming days to add further geological context to this season's drill targets which are locally following up on known high-grade1 uranium mineralization.

The perched uranium mineralization present in the Athabasca sandstone outcrop on the Project has never been properly drill-tested at depth, and during the inaugural winter drill program, the Company aims to discover the high-grade “roots” of these mineralizing systems in the basement rocks underlying the sandstones. In addition, a portion of the planned holes will follow-up along conductor strike from historical basement-hosted uranium mineralization. Davidson River – Spring/Summer 2022 Drill Program: Immediately following the completion of the Sun Dog drill program, the Company will mobilize and begin the fourth drill program on its flagship Davidson River Project.

The 25,886-hectare Davidson River Project is situated in the Southwest Athabasca Uranium District of Saskatchewan and contains significant blue-sky potential to make a high-grade basement-hosted uranium discovery. The spring/summer drill program is expected to commence in May 2022, with key contractors secured, and will follow-up on the most prospective basement structures and alteration zones intersected to date and begin testing new target areas along all four major conductors at Davidson River. Several kilometres of graphitic conductors remain to be tested at Davidson River, and the basement rocks of the Thunderbird trend remains unexplored to date.

The information, from only two years of exploration on the project, has added to the geological framework of the property and has bolstered the Company's confidence in continued exploration and drilling in 2022. East Side Projects – Atlantic, Canary, & Ascent Geophysical Programs: In addition to two drill campaigns, the Company has plans to advance all three of its 100%-owned East Side Projects in 2022 (Figure 3). The Atlantic, Canary, and Ascent Projects all contain significant potential to host high-grade unconformity-related uranium mineralization at relatively shallow depths from surface.

Geophysical programs are planned at all three projects on the east side of the Athabasca Basin, which are fully permitted and have key vendor contracts in place: High-resolution ground gravity will be conducted over the western Atlantic Project claim blocks in late winter 2022 to allow for prioritization of future drill targets through identification of potential zones of significant hydrothermal alteration; An induced polarization/resistivity survey will be completed on the Canary Project in spring 2022 to yield valuable structural, lithological, and/or alteration related information on the project. The IP/resistivity method will assist the technical team in mapping out cross-cutting structures and potential alteration halos in the sandstone and conductive lithologies in the basement rocks; An airborne time-domain electromagnetic (TDEM) survey will be flown over the Ascent Project to further define and model the conductive exploration corridors on the property coinciding with existing geochemical anomalies; The geological setting and encouraging historical results on the East Side Projects have the Company's technical team very excited to branch out to the eastern hub of uranium exploration in the Athabasca Basin.