Standard Uranium Reaches Terms to Option Ascent Project in Eastern Athabasca Basin

VANCOUVER, British Columbia, Jan. 11, 2024 (GLOBE NEWSWIRE) — Standard Uranium Ltd. (“ Standard Uranium ” or the “ Company ”) (TSX-V: STND) (OTCQB: STTDF) (Frankfurt: FWB:9SU) is pleased to announce that it has signed a term sheet (the “ Term Sheet ”), dated January 9, 2024, with Summit Fusion Pty. Ltd. (the “ Optionee ” or “Summit” ), an arms-length private, Australian company. Pursuant to the Term Sheet, the Optionee will be granted the option (the “ Option ”) to earn a 75% interest in the 3,737-hectare Ascent Project (“ Ascent ” or the “ Project ”) located in the eastern Athabasca Basin (Figure 1).

The Option is exercisable by the Optionee in three stages, summarized in Table 1. During the first stage, the Optionee can earn a fifty-percent (50%) interest in the Ascent Project by: completing cash payments totaling $200,000, arranging for the issuance of $200,000 worth of […]

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