Standard Uranium Announces Key Additions to its Technical Team and Granting of Stock Options

VANCOUVER, British Columbia, July 02, 2020 (GLOBE NEWSWIRE) -- Standard Uranium Ltd. (TSX.V: STND) (“Standard Uranium” or the “Company”) is pleased to announce that it has added Galen McNamara and Sean Hillacre to its technical team.

Mr. Sean Hillacre has been appointed Project Manager for the upcoming Davidson River drill program. For the past five years, Mr. Hillacre worked at NexGen Energy as an exploration geologist as part of the technical team that progressed the Arrow deposit from grass-roots discovery to its current advanced stage. He brings a unique and balanced background integrating academic geoscience with industry experience, along with a comprehensive understanding of project development. Mr. Hillacre holds a B.Sc. and M.Sc. in Geology, both from the University of Saskatchewan.

Additionally, the Company announces the engagement of Mr. Galen McNamara, CEO and Director of Summa Silver Corp., as a Technical Advisor. Mr. McNamara was Senior Project Manager – Exploration and Development at NexGen Energy where he managed all field based drilling and exploration activities, and played an instrumental role in the discovery and delineation of multiple high grade uranium zones. Mr. McNamara shared the 2018 PDAC Bill Dennis “Prospector of the Year” Award and 2016 Mines and Money Exploration Award, for his work on the Arrow uranium deposit. Mr. McNamara holds Bachelor’s and Master’s degrees in geology from Laurentian University of Sudbury, Ontario.

“The addition of Sean and Galen to Standard’s technical team is very significant,” noted Garrett Ainsworth, Independent Director of Standard Uranium. “Both of these gentlemen played important roles in NexGen’s exploration, delineation, and development success of the Arrow deposit and the Rook I property in the southwest Athabasca, which makes a powerful fit for Standard as we approach our maiden drill program at the Davidson property. I’m very pleased with the additions to Standard’s technical team that now combines decades of concentrated experience with discovering high grade uranium mineralization in the southwest Athabasca, which is a key component for future success.”         

The Standard Uranium Technical Team is now comprised of: Neil McCallum, Garrett Ainsworth, Galen McNamara and Sean Hillacre. Together they have over 30 years of specific experience working in the southwest Athabasca Basin and have won multiple awards for discoveries.

Standard also announces that, pursuant to its Stock Option Plan, it has granted stock options to certain directors, management and consultants to purchase an aggregate of 3,250,000 common shares of the Company at the price of $0.20 per share for a period of 5 years from the date of the grant. This stock option grant is subject to acceptance by the TSX Venture Exchange.

About Standard Uranium

We find the fuel to power a clean energy future

Standard Uranium is a mineral resource exploration company based in Vancouver, British Columbia. Since its establishment, Standard Uranium has focused on the identification and development of prospective exploration stage uranium projects in the Athabasca Basin in Saskatchewan, Canada. Standard Uranium’s Davidson River Project, in the southwest part of the Athabasca Basin, Saskatchewan, is comprised of 21 mineral claims over 25,886 hectares. The Davidson River Project is highly prospective for basement hosted uranium deposits, yet remains untested by drilling despite its location along trend from recent high-grade uranium discoveries. A copy of the 43-101 Technical Report that summarizes the exploration on the project is available for review under Standard Uranium’s SEDAR issuer profile (www.sedar.com).

For further information, contact Jon Bey, President and Chief Executive Officer of Standard Uranium at [email protected] or at (604) 375-4488. Website: www.standarduranium.ca

On behalf of the Board,

Standard Uranium Ltd.

Jon Bey
President and Chief Executive Officer

The TSX Venture Exchange has neither approved nor disapproved the contents of this press release. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release may contain certain “forward-looking statements” and “forward-looking information” within the meaning of applicable Canadian and United States securities laws. When used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target, “plan”, “forecast”, “may”, “schedule” and other similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to the anticipated payment of the Incentive Bonus, the process by which the Company intends to obtain disinterested shareholder approval for the payment of the Incentive Bonus, regulatory requirements or approvals necessary for the payment of the Incentive Bonus, and other factors or information. Such statements represent the Company’s current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affections such statements and information other than as required by applicable laws, rules and regulations.