Standard Uranium expands drill program and seeks $4 million funding

Standard Uranium Ltd. (TSXV: STND) announced plans to increase the size of its upcoming drill program at the Davidson River Project in Saskatchewan's Athabasca Basin and launch a non-brokered private placement to raise up to $4 million.

The company intends to use the funding to substantially increase drilling metres during the 2026 summer program across three conductor corridors at the uranium exploration project. Standard Uranium plans to mobilize to the site on May 31, 2026, with drilling expected to commence shortly thereafter.

The private placement will offer units at $0.10 each, with each unit consisting of one common share and half a warrant. The warrants will allow holders to purchase additional shares at $0.15 within 36 months of closing, subject to accelerated expiry conditions if the share price exceeds $0.30 for ten consecutive trading days.

Standard Uranium completed what it describes as the first ExoSphere Multiphysics surveys in the southwest Athabasca Basin region, integrating multiple data types to generate drill targets across the Warrior, Bronco, and Thunderbird corridors. The company has secured all necessary drill permits and signed an exploration agreement with the Clearwater River Dene Nation.

The Davidson River Project spans 30,737 hectares across ten mineral claims and targets basement-hosted uranium mineralization on structural trends near NexGen Energy's Arrow deposit and Paladin Energy's Triple R deposit. The project represents the company's first drill program at Davidson River since 2022.

Standard Uranium holds interests in over 219,327 acres in Saskatchewan's Athabasca Basin. The offering remains subject to regulatory approvals including conditional listing approval from the TSX Venture Exchange.

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