Standard Uranium Advances Canary Project with Spring 2024 Drill Program in Athabasca Basin

Standard Uranium is advancing exploration efforts at the Canary Project in the Athabasca Basin region, with CEO Jon Bey confirming preparations for the inaugural Spring 2024 drill program scheduled to begin in early May. The company has engaged drill and helicopter contractors for helicopter-supported diamond drilling targeting high-priority unconformity-related uranium zones identified through 2022 geophysical work. These targets are positioned 200-300 meters below surface in ideal unconformity target zones.

The northeast portion of the eastern Athabasca Basin where the Canary project is located remains significantly underexplored, containing two main conductive corridors with only three historical drill holes representing a drilling density of 0.04 drill holes per square kilometer. This sparse drilling history underscores the substantial exploration potential of the area and the importance of the upcoming program in testing these promising targets.

The Canary Project operates under a three-year earn-in option agreement with Mamba Exploration, where Mamba aims to earn a 75% interest by funding $6 million in exploration expenditures over three years. The Spring 2024 drill program represents a critical milestone in advancing the project and unlocking its mineral potential within this timeframe. Standard Uranium's strategic focus aligns with developing high-quality uranium assets in the Athabasca Basin, a region known for world-class uranium deposits.

The upcoming drilling activities will provide essential geological data and insights into the project's mineral potential, guiding future exploration decisions and partnership developments. As global interest in uranium exploration intensifies, the results from this program could significantly impact the company's position in the Athabasca Basin and contribute to understanding the region's untapped resources.