Standard Uranium expands private placement to C$4.5 million and closes first tranche of C$2.1 million. Canadian Business Journal

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VANCOUVER, British Columbia, October 4, 2022 (GLOBE NEWSWIRE) — Standard Uranium Ltd. (“standard uranium” or “Company) (TSX-V: STND) (OTCQB: STTDF) has announced that due to strong investor interest, it has elected to increase the maximum size of its unbrokered private placement announced by the company on September 8, 2022. increase. (“Recruitment”) from $3,500,000 to $4,500,000 in aggregate. Standard Uranium is also pleased to announce the closing of the first tranche of its offering. In the first tranche, we sold 9,173,259 units of his (each “unit”) 8,944,400 flow-through units (each, “FT unit”, and collectively with the units, “Offered securities”) Priced at $0.13 CAD per FT Unit with total revenue of $2,171,830 CAD.

Each unit consists of one share of our common stock (each a “unit share”) and one half of one common stock purchase warrant (each entire warrant, “warrant”). Each FT Unit consists of one share of the Company’s common stock issued as “liquid stock”. income tax law (Canada) (respectively,FT Share”) and half of one warrant. Each whole warrant gives the holder the right to purchase one share of our common stock (each,Warrant share”) at a price of $0.17 anytime before September 29, 2024.

The net proceeds from the offering will be used for our project research and working capital purposes. Proceeds from the sale of FT shares are “Canadian Exploration Expenditures” as defined in Subsection 66.1(6) of the Income Tax Act and “Flows from Mining Expenditures” as defined in Subsection 127(9) of the Income Tax Act. is used to generate (“eligible spending”). Such proceeds will be relinquished to participants for an effective date no later than December 31, 2022 in an aggregate amount no less than the aggregate amount of gross proceeds raised from the issuance of FT shares.

Our CEO, John Bay, said: “The completion of the first tranche of the offering has provided the company with sufficient working and exploration capital to execute on its near-term objectives. With growing interest in nuclear energy as a reliable and environmentally friendly energy source, Standard Uranium is well positioned as it focuses on raising additional funding in the second tranche of its offering. .”

In connection with the closing of the first tranche of the offering, the Company paid Red Cloud Securities, Inc. and certain other independent brokerage firms C$105,799 in cash and finder’s fees on finder’s warrants of 876,786. . Each finder’s warrant is exercisable against one of her units. With an exercise price of $0.11 CAD per unit until September 29, 2024.

The second and final tranche of the offering is expected to close shortly. Closing of the second tranche of the offering is subject to certain conditions, including, without limitation, receipt of all necessary approvals, including TSX Venture Exchange approvals. All securities issued in the first tranche of the offering are subject to a statutory hold period through January 30, 2023.

About standard uranium (TSX-V: STND)

Finding the Fuels That Drive a Clean Energy Future

Standard Uranium is a mineral exploration company based in Vancouver, British Columbia. Since its inception, Standard Uranium has focused on identifying and developing promising exploration-stage uranium projects in the Athabasca Basin in Saskatchewan, Canada.

The Standard Uranium Davidson River Project in the southwestern Athabasca Basin of Saskatchewan consists of 21 mineral claims covering 25,886 hectares. The Davidson River is highly likely to be an underground hosted uranium deposit, despite its position in line with recent trends in high-grade uranium discoveries, but relatively untested by drilling. . A copy of NI 43-101 Technical Report, effective March 16, 2020, titled “Updated Technical Report on Davidson River Properties, Northwest Saskatchewan, Canada,” summarized exploration on the Davidson River. and can be viewed under the standard uranium rating. SEDAR profile (www.sedar.com).

For more information, please contact:

John Bay, Chief Executive Officer and Chairman
550 Denman Street, Suite 200
Vancouver, BC V6G 3H1
Phone: 1 (306) 850-6699
Email: [email protected]

Cautionary Note 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 laws. 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. All statements expressing or involving projections, expectations, beliefs, plans, forecasts, objectives, assumptions, or discussions of future events or performance (often, but not always, “expect”, “expect”) ), “expect”, “believe”, “plan”, “project”, “estimate”, “assume”, “intend”, “strategy”, “goal” , ‘purpose’, ‘forecast’, ‘budget’, ‘schedule’, ‘likelihood’, ‘probability’, or variations thereof, or that a particular action, event, condition, or outcome ‘may’ , ‘could’, ‘could’, ‘should’, ‘could’, or ‘could’ state, occur or be achieved, or these Term denials and similar expressions) may be forward-looking statements rather than statements of historical fact. Forward-looking statements include, but are not limited to, statements regarding the following: The timing and content of future work programs. geological interpretation; timing of our exploration programs; and estimates of market conditions.

Forward-looking statements are subject to various known and unknown risks, uncertainties and actual events or outcomes that may differ from those expressed or implied by the forward-looking statements contained herein. Affected by other factors. There can be no assurance that such statements will prove to be accurate, as actual results or future events could differ materially from those anticipated in such statements. Certain important factors that could cause our results to differ materially from the forward-looking statements include, among others: General economic conditions in Canada and the world. industry situation; government regulation of the mining industry, including environmental regulations; Geological, technical and excavation issues. Unexpected operational event. competition for and/or inability to maintain drilling rigs or other services; availability of capital on acceptable terms; need to obtain necessary regulatory approvals; stock market volatility; and volatility of market prices of commodities. Liabilities inherent in the mining industry. The evolution of the COVID-19 pandemic. Changes to tax laws and incentive programs related to mining. This list is not an exhaustive list of factors that may affect our forward-looking statements. There may be other factors that could cause actual events or results to differ from those expressed or implied by the forward-looking statements contained herein. Please refer to the section entitled “Risks and Uncertainties” of our management’s discussion and analysis for the fiscal year ended April 30, 2022 dated August 26, 2022. Forward-looking statements contained herein.

Forward-looking statements are necessarily based on a number of factors and assumptions, otherwise actual events or results may not be expressed or implied by the forward-looking statements contained herein. may be different. Forward-looking statements, which we believe to be reasonable at this time, are inherently subject to material business, economic and competitive uncertainties and our actual financial results, performance or Results materially different from those expressed or implied. Significant factors or assumptions used in making forward-looking statements include, but are not limited to: Future price of uranium. anticipated costs and our ability to raise additional capital if necessary; the volatility of the market prices of our securities; future sales of our securities; our ability to conduct exploration and development activities; Successful exploration, development and operational activities. Timing and results of drilling programs. Discovery of mineral resources for our mineral properties. operating and exploration costs; our ability to identify, complete and successfully integrate acquisitions; A company’s ability to operate in a safe, efficient and effective manner. Health, Safety and Environmental Risks. The existence of laws and regulations that may impose restrictions on mining. Relations with Employees; Relations and Advocacy with Local Communities and Indigenous Peoples. Responding to increased costs associated with mining inputs and labor. the speculative nature of mineral exploration and development (including the risk of obtaining required licenses, permits and approvals from governmental authorities); uncertainty regarding ownership of mineral properties; assessments by tax authorities; fluctuations in general macroeconomic conditions;

Any forward-looking statements contained in this news release are expressly qualified by this cautionary statement. Forward-looking statements and assumptions regarding them are made as of the date of this news release and are therefore subject to change after that date. We disclaim any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as 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.

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