Standard Uranium Reaches Terms to Option Atlantic Project in Athabasca Basin

VANCOUVER, British Columbia, Feb. 12, 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 February 9, 2024, with ATCO Mining Inc. (CSE: ATCM) (the “ Optionee ”), an arms-length party. Pursuant to the Term Sheet, the Optionee will be granted the option (the “ Option ”) to acquire a seventy-five percent interest in the 3,061-hectare Atlantic Project (the “ Project ”) located in the eastern Athabasca Basin (Figure 1).

The Option is exercisable by the Optionee completing cash payments and share issuances, and incurring the following exploration expenditures on the Project: Consideration Payments Consideration Shares* Exploration Expenditures Operator Fees Year 1 $110,000 $150,000 $1,300,000 $130,000 Year 2 $120,000 $300,000 $2,000,000 $240,000 Year 3 $200,000 $300,000 $3,000,000 $360,000 Total $ 430,000 […]

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