Standard Uranium firms up deal to acquire Rocas project

Executive Summary

• Standard Uranium Ltd. signed a definitive option agreement with Collective Metals Inc. granting an option to acquire a 75 % interest in the 4,002‑ha Rocas uranium project.
• The company has commenced an inaugural ground‑mapping, prospecting and sampling program on September 30, 2025 to validate historic surface mineralization ahead of a planned drill campaign in 2026.
• The three‑year earn‑in option includes cash payments, share issuances and exploration spend obligations; Standard will retain a 25 % interest plus a 2.5 % NSR royalty (with a $1 M buy‑back right).

Key Details

• Option Agreement Date: September 26, 2025.
• Parties: Standard Uranium Ltd. (optionor) and Collective Metals Inc. (optionee).
• Project Size & Location: 4,002 ha Rocas project, ~75 km SW of Key Lake mine, eastern Athabasca Basin, Saskatchewan.
• Interest Structure: Option to acquire 75 % of the property; Standard retains 25 % and a 2.5 % net smelter return royalty (1.0 % purchasable for $1 M cash).
• Earn‑in Terms:
• Cash payments and share issuances plus required exploration expenditures over three years.
• Operator fee to Standard: 10 % of Year 1 expenditures, increasing to 12 % in Years 2–3.
• Exploration Highlights:

• 7.5 km of strike length along a NE‑SW magnetic low with EM conductors and cross‑cutting faults.

• Surface grab samples over ~900 m grading up to 0.5 wt % U₃O₈ (no drill testing yet).
• High‑resolution ground gravity survey (2024) identified alteration halos and high‑priority targets.
• Inaugural Program (Sept 30, 2025): Detailed mapping, prospecting, scintillometer surveys, and resampling of historic uranium showings; samples to be analyzed by Saskatchewan Research Council Geoanalytical Laboratories.
• Future Work: Ongoing geophysical interpretation throughout 2025 to refine drill targets; modern drilling planned for 2026 after derisking via the inaugural program.
• Qualified Person: Sean Hillacre, P.Geo., President & VP Exploration, reviewed and approved technical information per NI 43‑101.

Notable Quotes

“We are very pleased to have executed the Rocas option deal with our new partners at Collective Metals quickly, allowing our team to get boots on the ground before the snow flies in Saskatchewan… this inaugural program will allow us to build a comprehensive understanding of the geology across Rocas prior to a maiden drill program.” – Sean Hillacre, President & Vice‑President Exploration, Standard Uranium Ltd.