Standard Uranium forms partnership with Fleet Space on Davidson River Project, Saskatchewan

Standard Uranium Ltd. [TSXV: STND; OTCQB: STTDF; FSE: 9SU0] has formed a strategic partnership with Fleet Space Technologies Canada Corp. to advance uranium exploration on its flagship Davidson River Project using Fleet Space’s Exosphere Multiphysics surveys.

“We are proud to welcome the Fleet Space team as a strategic partner and together we will drive exploration across the Athabasca Basin [Saskatchewan] starting with our flagship Davidson River Project in 2025,” said Jon Bey, CEO & Chairman. “Our goal is to make the next world-class high-grade uranium discovery, and we believe that Fleet Space’s real-time geophysical capabilities and industry leading expertise in data-driven exploration will enable us to accelerate our progress with deployment of their Exosphere Multiphysics technology as a vital step on the path to discovery.”

Highlights – First Multiphysics in SW Athabasca: Standard Uranium and Fleet Space undertaking first Exosphere Multiphysics surveys in the prolific SW Athabasca Uranium District on Davidson River.

Integrative Exploration Strategy: Combined real-time 3D Ambient Noise Tomography (ANT) and ground gravity surveys will provide new data layers to characterize lithological variations and identify potential alteration signatures related to uranium mineralization, in addition to further refining the structural architecture of known basement conductors.

Increased Discovery Potential: High-priority target areas across three conductor corridors will be significantly derisked with high-resolution imaging of basement structures and alteration zones, providing key targeting information for discovery.

Davidson River Multiphysics Surveys: In partnership with Fleet Space, the company will undertake three ExoSphere Multiphysics survey grids across the Warrior, Bronco, and Thunderbird conductors on the Project in spring 2025. The Multiphysics surveys will collect and integrate ANT and ground gravity datasets, covering highly prospective areas along three of the four main structural corridors on the Project. The surveys will provide critical targeting layers in the form of 3D ANT shear velocity models and custom inversion models for subsurface density, leveraging both ANT and ground gravity datasets as inputs.

Density anomalies in the basement rock coinciding with known graphitic conductors are often indicative of potential zones of hydrothermal alteration of host rocks associated with uranium mineralization events. Drill targeting with this strategy has been proven through the discovery of world-class uranium deposits in the SW Athabasca Basin and will upgrade targets across the Project.

Sean Hillacre, President & VP Exploration, stated: “Using Fleet’s proprietary Cover Depth analysis from the ANT data in combination with the ground gravity data, Fleet Space will compute and provide a cover-corrected gravity dataset which will significantly upgrade our target areas at Davidson River through imaging of density anomalies in the basement rock. These surveys will be the first of their kind in the SW Athabasca Basin uranium district and marks a significant step towards discovery on our Flagship Project.”

The company has also entered into a debt settlement agreement with Fleet Space Technologies Canada Corp., the creditor, and its affiliate Fleet Investment Fund PTY LTD., pursuant to which the company proposed to settle Cdn$525,000 of debt owing to the creditor by the issuance of 7,000,000 common shares at a deemed price of $0.075 per share. The deemed price represents a 2.3% discount from the 30-day volume weighted average closing price of the common shares of the company on the TSX Venture Exchange immediately prior to entering into of the Agreement. The Debt Settlement is subject to regulatory approvals.

Assuming completion of the Debt Settlement and no other share issuances, the creditor would own approximately 11% of the outstanding common shares of the company, resulting in the creditor becoming a new insider of the company.

Standard Uranium is a uranium exploration company and emerging project generator poised for discovery in the world’s richest uranium district. The company holds interest in over 233,455 acres (94,476 hectares) in the Athabasca Basin, Saskatchewan.

Standard Uranium’s Davidson River Project, in the southwest part of the Athabasca Basin, Saskatchewan, comprises ten 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.

Fleet Space Technologies, Australia’s leading space exploration company, is revolutionizing critical mineral discovery with its end-to-end mineral exploration solution, Exosphere, which combines satellite connectivity, 3D multiphysics, and AI to image mineral systems in real-time.