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Standard Uranium Team Mobilizes for Spring/Summer Drill Program at Flagship Davidson River Project

Press Release

Vancouver, British Columbia, May 16, 2022 — Standard Uranium Ltd. (“Standard Uranium” or the “Company”) (TSX-V: STND) (OTCQB:STTDF) (Frankfurt: FWB:9SU) is pleased to announce that mobilization of the Standard Uranium exploration team and the Base Diamond Drilling Ltd. crew has commenced to the Company’s flagship 25,886 hectare Davidson River Project (“Davidson River” or the “Project”) ,located in the Southwest Athabasca Uranium District of Saskatchewan. The focused drill program will follow up on prospective structures and alteration intersected during previous programs and test brand new areas.

Key Focus Points:

  • Objective is to make a basement hosted high-grade uranium discovery
  • Drilling to commence third week of May 2022
  • Two drill rigs, helicopter-supported
  • Follow-up drilling on the southeast Warrior and Bronco corridors with vectoring information gained during the 2021 Phase II programs (Figure 1)
  • Thunderbird trend basement rocks will be tested for the first time
  • Increasing discovery potential of the Project through collection and interpretation of technical information from strategically planned drill holes

Davidson River – Spring/Summer 2022 Drill Program

The Company has mobilized to begin the fourth drill campaign 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 untested blue-sky potential for a high-grade basement-hosted uranium discovery. The upcoming program is expected to comprise approximately 5,000 metres in 13 drill holes.

The spring/summer drill program will follow-up on the most prospective basement structures and alteration zones intersected to date and begin testing new target areas along the four major exploration trends on the Project. Several kilometres of graphitic conductors remain to be tested at Davidson River, and the basement rocks of the Thunderbird trend remain unexplored to date. Two years of exploration on the Project (2020-2021 drilling) has confirmed lithological and structural parallels between the uranium-fertile Patterson Lake corridor and the Davidson River conductive trends, bolstering the Company’s confidence in continued exploration on the Project.

Figure 1. Plan map highlighting summer Phase II 2021 drill holes warranting follow-up at Davidson River.Jon Bey, CEO and Chairman commented:“We look forward to beginning our fourth drill program at our flagship Davidson River Project. Our team of geologists are determined to demonstrate this season of drilling will be our best to date. Drill targeting will be focused on the southeast portions of the Bronco and Warrior conductors, and we will test the Thunderbird conductor for the first time. I am excited to see the drills turning again at our Davidson River Project, with the goal of proving to investors that patience will be rewarded.”The scientific and technical information contained in this news release has been reviewed and approved by Sean Hillacre, P.Geo., a “Qualified Person” as defined in NI 43-101.

About Standard Uranium (TSX-V: STND)

We find the fuel to power a clean energy future

Standard Uranium is a mineral resource exploration company based in Vancouver, British Columbia. Since its establishment, Standard Uranium has focused on the identification and development of prospective exploration stage uranium projects in the Athabasca Basin in Saskatchewan, Canada.

Standard Uranium’s Davidson River Project, in the southwest part of the Athabasca Basin, Saskatchewan, is comprised of 21 mineral claims over 25,886 hectares. Davidson River is highly prospective for basement hosted uranium deposits yet remains relatively untested by drilling despite its location along trend from recent high-grade uranium discoveries. A copy of the NI 43-101 technical report titled “Updated Technical Report on the Davidson River Property, Northwest Saskatchewan, Canada” with an effective date of March 16, 2020, that summarizes the exploration on Davidson River is available for review under Standard Uranium’s SEDAR profile (www.sedar.com).

For further information contact:

Jon Bey, Chief Executive Officer, and Chairman

550 Denman Street, Suite 200

Vancouver, BC V6G 3H1

Tel: 1 (306) 850-6699
E-mail: [email protected]

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