Standard Uranium Ltd. announced that mobilization has commenced in preparation for the Company?s inaugural drill program at the 3,061-hectare Atlantic Project (?Atlantic? or ?the Project?). Atlantic is situated in the prolific eastern Athabasca Basin, northern Saskatchewa.

The Project is currently under option (the ?Option?) to ATCO Mining Inc. (the ?Optionee?) an arms-length company listed on the Canadian Securities Exchange (CSE: ATCM). Pursuant to the Option, the Optionee can earn a 75% interest in Atlantic over three years. The Optionee-funded winter 2024 drill program is planned to satisfy the first year of minimum exploration expenditures required by the Option.

Highlights: Approximately 2,000-3,000 metres planned across 4-6 drill holes, targeting high-grade1 unconformity-related uranium mineralization. One diamond drill testing high-priority target area A on the Project (Figure 2), investigating a significant density anomaly coincident with modeled electromagnetic (?EM?) conductors, and interpreted faults. Additional drill holes will follow up on highly anomalous uranium results and major structure intersected in drill hole BL-16-32.

Diamond drilling crews mobilized to the Atlantic Project on February 19th, 2024. 2024 Winter Drill Program: The winter program will be the first drill campaign completed by the Company on the Project following successful identification of high-priority targets in 2022-2023. The 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 drill program is 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 uranium over 0.5 metres at the base of the sandstone, just north of target area A (Figure 2).

Winter drilling will be focused in target area A which is defined by a 1,400-metre x 850-metre density anomaly at the unconformity coinciding with stacked EM conductors and an interpreted regional fault. Figure 2 shows the 3D density anomaly target at the unconformity depth slice, with projected basement EM conductors and interpreted fault trends. The Base Diamond Drilling team arrived at the Project on February 19th, 2024 to begin access trail and drill pad preparation, and the Standard Uranium team is slated to mobilize on February 26th, 2024.

The scientific and technical information contained in this news release has been reviewed, verified, and approved by Sean Hillacre, P.Geo., President and VP Exploration of the Company and a ?qualified person? as defined in NI 43-101.