Standard Uranium expands drill program at Davidson River Project, Saskatchewan; private placement planned

Standard Uranium Ltd. [TSXV: STND; OTCQB: STTDF; FSE: 9SU0] reported that it intends to increase the size of the upcoming flagship Davidson River Project drill program, located in the southwest Athabasca Basin, Saskatchewan, Canada. The company proposes to use the net proceeds of the offering (as defined below) to substantially increase the number of metres drilled during the 2026 summer drill program across the Warrior, Bronco, and Thunderbird conductor corridors at Davidson River.

The company is now in the final operational countdown to the first drill program at Davidson River since 2022 with targets confirmed, permits in hand, the Clearwater River Dene Nation (CRDN) exploration agreement signed, and key contractors secured. The 2026 drill campaign is targeting basement-hosted, high-grade^* uranium mineralization on the same regional structural trends that host significant uranium deposits including NexGen Energy’s Arrow deposit and Paladin Energy’s Triple R deposit.

The company also reported a non-brokered private placement to raise gross proceeds of up to $4,000,000 (the offering). The offering will consist of units of the company (each, a unit) at a price of $0.10 per unit. Each unit will consist of one common share of the company (each a unit share) and one-half of one common share purchase warrant. Each whole warrant is good to buy one common share of the company (each, a warrant share) at a price of $0.15 at any time on or before that date which is 36 months after the closing date of the offering. The warrants will be subject to an accelerated expiry if, any time after the closing date of the offering, the closing price of the common shares of the company on the TSX Venture Exchange, or such other market as the Shares may trade from time to time, is or exceeds $0.30 for 10 consecutive trading days, in which event the holders of the warrants may, at the company’s election, be given notice and the company will issue a press release announcing that the warrants will expire five days following the date of such press release. The warrants may be exercised by the holder of the warrants during the five-day period between the date of the press release announcing the accelerated expiry date and the expiration of the warrants.

Net proceeds raised from the offering will be used for the exploration of the company’s Davidson River Project and for working capital purposes.

The offering is subject to certain closing conditions. The offered securities issued under the offering will be subject to a hold period expiring four months and one day from the closing date of the offering.

The company anticipates paying finders’ fees to eligible parties who have assisted in introducing subscribers to the offering.

Program Highlights: Drill targets prioritized and locked-in across three of the four major conductor corridors at Davidson River — Warrior, Bronco, and Thunderbird — based on the integration of the first-ever ExoSphere Multiphysics surveys completed in the southwest Athabasca Basin region.

Increased funding and meterage with two drill rigs deployed simultaneously to maximize metres and accelerate the testing of the company’s highest-confidence targets ever generated on the property.

Mobilization to site: May 31, 2026. Drilling expected to commence shortly thereafter. All drill permits secured and CRDN exploration agreement signed, formalizing community-aligned exploration on traditional territory.

Drill Targets Finalized — A First-of-its-Kind Multiphysics Campaign in the Southwest Basin. In partnership with Fleet Space Technologies, Standard Uranium completed the first-ever ExoSphere Multiphysics surveys in the southwest Athabasca Basin region, integrating 3D Ambient Noise Tomography (ANT), Horizontal-to-Vertical Spectral Ratio (HVSR), and ground gravity datasets to generate cover-corrected 3D models of basement velocity, density, and structural architecture across the Warrior, Bronco, and Thunderbird corridors.

The integration of Multiphysics data with prior drill results, ground gravity, EM conductors, and ALS GoldSpot SmartMatch machine-learning targeting has produced what the Company believes are its highest-confidence drill targets ever at Davidson River. Distinct density-low anomalies interpreted as potential indicators of hydrothermal alteration associated with uranium mineralization have been identified across all three surveyed corridors, coincident with mapped EM conductors and basement fault extrapolations.

Target highlights by corridor: Warrior Corridor — Wide graphitic structural zones intersected in prior drilling, with elevated radioactivity and dravite alteration. ExoSphere Multiphysics has refined density-low anomalies to a tightly clustered set of priority drill targets.

Bronco Corridor — Strongly graphitic structural zones with clay-hematite alteration, and intensely reactivated shear zones. Top priority Multiphysics targets confirmed and ranked for the upcoming program.

Thunderbird Corridor — Structurally controlled iron oxide alteration and elevated radioactivity historically intersected; Multiphysics integration has elevated this corridor to a high-priority drill-ready status.

A Tier-One Geological Address: Davidson River occupies 30,737 hectares across 10 contiguous mineral claims along the western extension of the same structural corridors that host the Southwest Athabasca’s most significant uranium discoveries.

The company believes Davidson River represents a meaningful exploration position along structurally favourable trends, and the next six months will be the most catalyst-dense period in Standard Uranium’s history. Anticipated near-term milestones include drill program commencement, first hole completion, rolling radiometric data and assay results across three corridors, and ongoing target refinement, with each a potential value-driving event for the project.

Standard Uranium holds interest in over 219,327 acres (88,758 hectares) in the 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’s Davidson River Project 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 under-tested 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 eastern Athabasca projects comprise over 38,417 hectares of prospective land holdings. 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, is comprised of 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.