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By Peter Kennedy

Standard Uranium Ltd. [STND-TSXV, STTDF-OTCQB, 9SU-FWB], is heading back to its flagship Davidson River project, targeting a high-grade uranium discovery in the southwest Athabasca Basin of Saskatchewan. The Company is launching the first ExoSphere Multiphysics survey ever to be conducted in the province’s southwest Athabasca region which ranks among the world’s leading uranium districts for exploration and mining.

The surveys will be completed in partnership with Fleet Space Technologies Canada Corp. across three prospective uranium exploration corridors at the company’s flagship Davidson River Project in May and June of 2025.

Standard said high-priority target areas across the three conductor corridors will be significantly derisked with high-resolution 3D imaging of basement structures and alteration zones, providing key targeting information for follow-up drilling that is expected to start this summer.

The company has a portfolio of 13 exploration projects across the Athabasca Basin region covering 94,475 hectares. But its main focus this year is on the flagship Davidson River project. The project is located in the southwestern Athabasca Basin and covers the inferred extension of the structural trend that hosts Paladin Energy Ltd.’s [PDN-ASX, PALAF-OTCQX]  Patterson Lake South property, which contains the high-grade Triple R uranium deposit (102.4 million pounds of 2.10% U308, indicated), and NexGen Energy Ltd’s [NXE-TSX, NYSE, NXG-ASX] Rook 1 property, which hosts the Arrow Deposit (256.7 million pounds of 3.10% U308 measured and indicated).

Davidson River covers 30,737 hectares and lies 75 kilometers south of the past-producing Cluff Lake uranium mine and is also in the vicinity of F3 Uranium Corp.’s [FUU-TSXV] JR Zone uranium discovery.

The exploration effort is led by Standard CEO Jon Bey and Sean Hillacre, Standard’s President/Vice-President of Exploration. Hillacre was part of a technical team that progressed NexGen Energy’s Arrow uranium deposit towards production and completed his Master of Science research on the deposit. Arrow is located just 25 kilometers east of Davidson River project.

Davidson River is highly prospective for basement-hosted uranium deposits due to its location along trend from recent high-grade uranium discoveries. However, the project remains largely untested by drilling. Still recent intersections of wide, structurally deformed and strongly altered shear zones provide significant confidence in the exploration model and future success is expected, the company has said.

From the summer of 2020 to 2022, 16,561 metres of drilling were completed in 39 drill holes at Davidson River. That work targeted four main conductive corridors – the Warrior, Bronco, Thunderbird and Saint trends. All four geophysical corridors contain several target areas that are favourable for high-grade basement-hosted uranium mineralization.

In a press release on April 10, 2025, Standard said it has formed a strategic partnership with Fleet Space Technologies Canada to advance uranium exploration at Davidson River, using Fleet Space’s Exosphere Multiphysics surveys. Fleet Canada is a subsidiary of Fleet Space Technologies, Australia’s leading space exploration company.

Exosphere is transforming how exploration is conducted by reducing uncertainty in drill targets and enabling faster, smarter decision making across the exploration process. In keeping with that goal, the company plans to undertake three ExoSphere survey grids across the Warrior, Bronco and Thunderbird conductors on the project in the spring of 2025.

“We are extremely excited to get back on the ground at our crown jewel project, Davidson River,” said Hillacre. “Integrating the 3D density and velocity models to image alteration systems in the basement rock could provide the key data we’ve been looking for to vector into a discovery at Davidson River,’’ he said. “We have been hard at work developing targets across the project since 2022 and armed with the new datasets from the Multiphysics system, we aim to expedite discovery of new basement-hosted uranium system with drilling this year.’’

The company and Axiom Exploration Group Ltd. mobilized to deploy the survey grids on May 26, and the survey is anticipated to take approximately 35 days to complete. These surveys will be the first of their kind in the southwest Athabasca Basin uranium district and mark a significant step towards discovery on the project, the company has said.

Following post-survey data analysis and integration, the company plans to execute a diamond drill program to begin testing the highest priority targets across all three conductor corridors surveyed. Drilling is planned to be completed this summer, marking the first drill program on the project since 2022. Positive results from previous drill campaigns will be integrated into drill targeting with the newly acquired Multiphysics data.

Meanwhile, the company said it has struck a deal with the underlying owners of the Davidson River project to amend the timeline for completion of the remaining payments owing for the company completing the acquisition of a 90% stake in the project. To exercise the option, the company is now required to complete four annual payments totaling $550,000 by July 2028. In consideration for the amendment, the company has agreed to issue 1.0 million common share purchase warrants to the optionors.

In an interview, Bey said “Armed with the Fleet Space exosphere data, the timing is perfect for drilling Davidson River. The global nuclear and uranium markets are on an upswing again and support is growing to build new large and small reactors which will all need more uranium.” However, as the company’s shares traded at $0.115 on May 30, 2025, in a 52-week range of 22 cents and $0.045, Standard Uranium offers investors a relatively low risk window on high-grade uranium exploration in this world class region.

Aside from exploration results at Davidson River, the company has said catalysts that could drive the stock may include further exploration programs at the Sun Dog, Corvo, and other Eastern Basin projects, which cover 42,384 hectares of prospective land holdings.

Standard Uranium has built a unique project generator business that drives exploration across several of their tier two projects. Standard typically stakes the project, spends time and capital advancing the project with early-stage exploration while completing Exploration Agreements with their First Nations partners and acquiring the exploration and drill permits from the Saskatchewan government. Once all permits and agreements are in place, Standard lines up expert vendors to drill the projects and they operate the projects with their own in-house team of uranium specific geologists. This model allows the team at Standard to advance multiple 100% owned projects forward while collecting cash, shares and operator fees from their JV partners.

Standard currently has JV agreements in place with Aero Energy Ltd.  [AERO-TSX, AAUGF-OTCQB, UU3-FRA] on the Sun Dog project and with Aventis Energy Inc. [AVE-CSE, VBAMF-OTCQB, C0O0-FRA] on the Corvo project. With the uranium market gaining momentum again, Standard is in discussions on several of their other projects and they plan to announce further agreements in 2025. The Company encourages other exploration companies to reach out to Sean Hillacre to enquire about projects available for JV opportunities. Standard has five projects in the eastern Athabasca region, including Ascent, Canary, Atlantic, Corvo and Rocas which are all ready for exploration and drilling.

With the conference season in full swing, Bey and Hillacre can be found meeting new investors, current shareholders and potential JV partners across Canada and the USA prior to drilling Davidson River this summer. Watch for the STND team in Quebec City, Montreal, Toronto and New York this June.


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