Vancouver, British Columbia--(Newsfile Corp. - April 10, 2025) - Standard Uranium Ltd. (TSXV: STND) (OTCQB: STTDF) (FSE: 9SU0) ("Standard Uranium" or the "Company") is pleased to announce it has formed a strategic partnership with Fleet Space Technologies Canada Corp. ("Fleet Space") to advance uranium exploration on its flagship Davidson River Project ("Davidson River" or the "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 starting with our flagship Davidson River Project in 2025," said Jon Bey, CEO & Chairman of the Company. "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."
Key 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 (Figure 1).
- 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.
Figure 1. Overview of Standard Uranium's Flagship Davidson River Project in the southwest Athabasca Basin uranium district.
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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 the spring of 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 of the Company, 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."
Federico Tata Nardini, Chief Financial & Investment Strategy Officer, added: "We're proud to enter a strategic partnership with Standard Uranium to unlock the exploration potential on their projects in the Athabasca Basin. Fleet Space's real-time exploration platform, Exosphere, is transforming how exploration is conducted by reducing uncertainty in drill targets and enabling faster, smarter decision making across the exploration process. This partnership reflects our shared commitment to building mineral supply chains of the future — efficiently and sustainably — to meet the world's rising demand for abundant, clean energy."
Strategic Partnership with Fleet Space
The Company also announces it has entered into a debt settlement agreement (the "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 indebtedness owing to the Creditor by the issuance of 7,000,000 common shares (the "Debt Settlement Shares") at a deemed price of $0.075 per share (the "Debt Settlement"). 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 ("TSX-V") immediately prior to entering into of the Agreement.
The Debt Settlement is subject to regulatory approvals, including the TSX-V and is an arm's length transaction. The issuance of the Debt Settlement Shares will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation.
No new control person of the Company will be created pursuant to the Shares for Debt Transaction; however, 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.
*The Company considers uranium mineralization with concentrations greater than 1.0 wt.% U3O8 to be "high-grade".
**The Company considers radioactivity readings greater than 300 counts per second (cps) to be "anomalous".
Qualified Person Statement
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.
Historical data disclosed in this news release relating to sampling results from previous operators are historical in nature. Neither the Company nor a qualified person has yet verified this data and therefore investors should not place undue reliance on such data. The Company's future exploration work may include verification of the data. The Company considers historical results to be relevant as an exploration guide and to assess the mineralization as well as economic potential of exploration projects.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
About Standard Uranium (TSXV: STND)
We find the fuel to power a clean energy future
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 world-class 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, 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.
Standard Uranium's eastern Athabasca projects comprise over 42,384 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.
For further information contact:
Jon Bey, Chief Executive Officer, and Chairman
Suite 918, 1030 West Georgia Street
Vancouver, British Columbia, V6E 2Y3
Tel: 1 (306) 850-6699
E-mail : info@standarduranium.ca
About Fleet Space Technologies
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. Over 40 leading exploration companies like Rio Tinto, Barrick Gold, Gold Fields, and Ma'aden use Exosphere's real-time 3D subsurface imaging on projects across five continents. Due to global demand for Exosphere, Fleet Space's international footprint has expanded into the US, Canada, Chile, and Luxembourg, with over 130+ employees, representing 37 nationalities, worldwide. In 2024, Fleet Space was recognized as the winner of the Innovation category at the Mining Technology Excellence Awards and received the Climate Impact Technology Award by the Banksia Foundation.
To learn more about Exosphere, please visit https://www.fleetspace.com/contact.
Cautionary Statement Regarding Forward-Looking Statements
This news release contains "forward-looking statements" or "forward-looking information" (collectively, "forward-looking statements") within the meaning of applicable securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as of the date of this news release. Forward-looking statements include, but are not limited to, statements regarding: the timing and content of upcoming work programs; geological interpretations; timing of the Company's exploration programs; and estimates of market conditions.
Forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those expressed or implied by forward-looking statements contained herein. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Certain important factors that could cause actual results, performance or achievements to differ materially from those in the forward-looking statements are highlighted in the "Risks and Uncertainties" in the Company's management discussion and analysis for the fiscal year ended April 30, 2024.
Forward-looking statements are based upon a number of estimates and assumptions that, while considered reasonable by the Company at this time, are inherently subject to significant business, economic and competitive uncertainties and contingencies that may cause the Company's actual financial results, performance, or achievements to be materially different from those expressed or implied herein. Some of the material factors or assumptions used to develop forward-looking statements include, without limitation: that the transaction with the Optionee will proceed as planned; the future price of uranium; anticipated costs and the Company's ability to raise additional capital if and when necessary; volatility in the market price of the Company's securities; future sales of the Company's securities; the Company's ability to carry on exploration and development activities; the success of exploration, development and operations activities; the timing and results of drilling programs; the discovery of mineral resources on the Company's mineral properties; the costs of operating and exploration expenditures; the presence of laws and regulations that may impose restrictions on mining; employee relations; relationships with and claims by local communities and indigenous populations; availability of increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); uncertainties related to title to mineral properties; assessments by taxation authorities; fluctuations in general macroeconomic conditions.
The forward-looking statements contained in this news release are expressly qualified by this cautionary statement. Any forward-looking statements and the assumptions made with respect thereto are made as of the date of this news release and, accordingly, are subject to change after such date. The Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.
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