Standard Uranium expands Davidson River drill program

Executive Summary

• Standard Uranium is expanding its Davidson River diamond drill program to 8,000‑10,000 m starting May 2026, enabled by recent financing.
• The company closed Tranche 3 of its non‑brokered private placement, raising $503,800 from the issuance of 6,297,500 non‑flow‑through units at $0.08 each.
• Additional financing opportunities were disclosed: up to $1.68 M from further flow‑through units and a separate LIFE offering for up to $2.5 M, with no hold period.

Key Details

• Drill Program Expansion
• Target: 8,000–10,000 m of diamond drilling at Davidson River (May 2026 start).
• Reason: Increased financing allows use of two drills in favourable weather, lowering cost per metre and enabling higher‑priority target coverage.
• Targets: Refined zones across Warrior, Bronco, and Thunderbird conductor corridors, supported by new high‑resolution 3‑D basement imaging.

• Permitting & logistics: All drill permits secured; exploration agreements signed with Clearwater River Dene Nation (CRDN); vendors contracted for a 4–6 week program.

• Multiphysics Survey

• First ExoSphere multiphysics survey completed (May 26 – July 8 2025) over Warrior, Bronco, and Thunderbird corridors.
• Data types: Ambient Noise Tomography (ANT), Horizontal‑to‑Vertical Spectral Ratio (HVSR), and gravity.

• Outcome: 3‑D shear‑velocity and density models to refine drill target selection.

• Private Placement – Tranche 3

• Units issued: 6,297,500 non‑flow‑through units @ $0.08 each → $503,800 gross proceeds.
• Unit composition: 1 common share + ½ warrant (exercise price $0.15, expires Oct 2 2027).
• Total to date: 15,598,750 non‑flow‑through units & 5.76 M flow‑through units → $1,823,900 gross proceeds.
• Finder’s fees paid: $15,828; 197,850 non‑transferable finder warrants issued on same terms.

• Hold period: Statutory hold until Feb 3 2026 for all securities from Tranche 3.

• Future Financing Opportunities

• Additional Flow‑Through Units: Up to 16,761,000 units @ $0.10 → up to $1,676,100 gross proceeds; subject to a 4‑month‑plus‑1‑day hold period.
• LIFE Offering: Up to 25 M flow‑through units (Canada except Quebec) under listed issuer financing exemption → up to $2.5 M gross proceeds; no statutory hold period.
• Use of proceeds: Exploration of Saskatchewan uranium projects and working capital.

• Completion subject to TSX‑V approval.

• CEO Comment

• Jon Bey (CEO): “Our shareholders and advisers asked us to complete a larger drill program… With the recent financial support of our capital raise, we will be fully funded to complete the 8,000 to 10,000 m of drilling planned.”

Notable Quotes

“We are extremely excited to get back to our flagship Davidson River project and get those drills turning once again.” – Jon Bey, CEO, Standard Uranium Ltd.