Standard Uranium Advances Exploration at Canary Project with Spring 2024 Drill Program

Standard Uranium is advancing exploration efforts at the Canary Project located in the prolific Athabasca Basin region. CEO Jon Bey confirmed the company has engaged drill and helicopter contractors for the inaugural Spring 2024 drill program scheduled to commence in early May. The program will involve helicopter-supported diamond drilling targeting high-priority unconformity-related uranium targets identified through geophysical work conducted in 2022. These targets are situated approximately 200-300 meters below the surface, representing ideal unconformity target zones for uranium discovery.

The northeast portion of the eastern Athabasca Basin remains significantly underexplored, with the Canary project containing two main conductive corridors but only three historical drill holes. This represents a drilling density of just 0.04 drill holes per square kilometer, highlighting the substantial exploration potential of the area. The limited historical drilling combined with modern geophysical targeting creates compelling conditions for new discoveries in this world-class uranium district known for hosting major deposits.

The Canary Project operates under a three-year earn-in option agreement with Mamba Exploration. Under this arrangement, Mamba aims to earn a 75% interest in the project by funding $6 million in exploration expenditures over three years. The upcoming drill program represents a critical milestone in advancing the project and unlocking its mineral potential while fulfilling partnership obligations. This strategic partnership enables accelerated exploration through shared financial commitment and technical expertise.

Standard Uranium's focus on the Canary Project aligns with the company's commitment to exploring and developing high-quality uranium assets in the Athabasca Basin. The region is renowned for hosting world-class uranium deposits, and the company's systematic approach to target generation and testing positions it favorably for discovery success. The upcoming drill program will provide essential geological data and insights into the project's mineral potential, guiding future exploration decisions and potentially validating the conceptual models developed through previous work.