Investigating Anomalous Uranium Values at the Atlantic Project

Standard Uranium Ltd. announced that mobilization has begun in anticipation of the company's first drill program at the 3,061-hectare Atlantic Project. Atlantic is located in northern Saskatchewan's abundant eastern Athabasca Basin.

ATCO Mining Inc., an arms-length business registered on the Canadian Securities Exchange, is presently the recipient of the Project. The company allows ATCO to acquire a 75 % stake in Atlantic over three years. The winter 2024 drill program, paid for by ATCO Mining Inc., is designed to meet the minimum exploration expenditure requirement for the first year stipulated under the option.

Highlights:

• The intended length of the drill holes, which will target high-grade, unconformity-related uranium mineralization, is around 2,000–3,000 m.
• A single diamond drill was used to test the Project's high-priority of target region A, look into a notable density anomaly that coincided with Modeled Electromagnetic ("EM") conductors, and interpret faults.
• Drill holes BL-16-32 and thereafter will be drilled to investigate the primary structure intersected by the extremely abnormal uranium values.
• Diamond drilling crews mobilized to the Atlantic Project.

​​​​“It is an exceptional outcome and a testament to our team’s vision and resolve to have completed the definitive agreement with ATCO and have a drill on site the following week, and we are very eager to begin testing our western block target areas at Atlantic which we have identified through measured analyses of our geophysical data and key geological characteristics of the area specifically relating to uranium mineralizing systems.

Sean Hillacre, President and VP Exploration, Standard Uranium Ltd.

2024 Winter Drill Program

The company's first drill campaign on the project, the winter program, would be carried out after high-priority targets were successfully identified in 2022–2023. The Project spans 6.5 km of an 18 km long conductive exploration trend that runs east-west and is home to multiple uranium occurrences.

The Company finished a high-resolution ground gravity survey on the western claim block in 2022. The results showed several subsurface density anomalies, which may be important hydrothermal alteration zones in the sandstone anchored to foundation conductors.

The drill program is intended to test the newly established gravity lows by the 2022 ground survey and investigate the highly anomalous uranium values reported from drill hole BL-16-32. Drilling by Denison Mines in 2016 on the western Atlantic claim block found 342 ppm uranium over 0.5 m near the base of the sandstone, approximately north of target area A.

Target area A, which is delineated by a density anomaly measuring 1,400 m by 850 m at the unconformity and coincident with stacked electromagnetic conductors and an estimated regional fault, will be the primary focus of winter drilling. The unconformity depth slice's 3D density anomaly target, along with predicted basement electromagnetic conductors and interpreted fault patterns.

The Standard Uranium crew is scheduled to mobilize on February 26^th. The Base Diamond Drilling team arrived at the Project before this date to prepare the drill pad and access route.