Standard Uranium Ltd. has announced plans for a diamond drill programme at its flagship Davidson River project in the southwest Athabasca Basin region, northern Saskatchewan. In addition, the Company announces a non-brokered private placement to raise gross proceeds of up to C$3,500,000.
“Standard Uranium has been working towards this drill programme for over three years, and we couldn’t be more excited to see the drills turning once again,” Jon Bey, CEO of Standard Uranium commented. “I would like to thank our technical team, all the vendors we are working with, our CRDN partners and our shareholders that have supported this drill programme and our company since inception. It is now time to make a discovery and add significant value for our shareholders, and I have full confidence that our team is up for the task.”
The Offering will consist of units of the Company at a price of C$0.08 per Unit, and flow-through units of the Company at a price of C$0.10 per FT Unit. Each Unit will consist of one common share of the Company and one-half of one common share purchase warrant. Each FT Unit will consist of one common share of the Company to be issued as a ‘flow-through share’ within the meaning of the Income Tax Act (Canada) and one-half of one Warrant. Each whole Warrant shall entitle the holder to purchase one common share of the Company at a price of C$0.15 at any time on or before that date which is twenty-four months after the closing date of the Offering.
The net proceeds raised from the Offering will be used for the exploration of the Company’s Projects and for working capital purposes.
Davidson River covers 30,737 hectares of prime exploration real estate in the Southwest Athabasca Uranium District, highly prospective for basement-hosted uranium deposits along trend from high-grade* uranium deposits under development.
From May 26 to July 8, 2025, the Company and Fleet Space completed the first-ever ExoSphere Multiphysics survey grids in the uranium-rich southwest Athabasca Basin region. Multiphysics surveys collected three types of geophysical data (Ambient Noise, Horizontal-to-Vertical Spectral Ratio and Gravity) over three (Warrior, Bronco, and Thunderbird) of the four major conductive corridors on the Project. The surveys will provide critical targeting layers in the form of 3D ANT-HVSR shear velocity models and custom inversion models for subsurface density, leveraging both passive seismic and ground gravity datasets as inputs.
“This drill programme is the culmination of years of hard work and represents a pivotal point for the Company,” said Sean Hillacre, President & VP Exploration of Standard Uranium, “Utilising the best geoscience tools and techniques available to generate our targets for this year, we are beyond excited to get the drill bit back in the ground at Davidson River. The newly acquired data from the Multiphysics survey has outlined density anomalies in the basement rock coinciding with known graphitic conductors, which are often indicative of potential zones of hydrothermal alteration of host rocks associated with uranium mineralization events. Drill targeting with this strategy has been proven through the discovery of world-class uranium deposits in the SW Athabasca Basin and upgrades our targets across the Project.”
Following post-survey data analysis and integration, the Company plans to execute a diamond drill program to begin testing the highest priority targets across all three surveyed conductor corridors. Drilling is planned to be completed this summer, marking the first drill program on the Project since 2022. Positive results from previous drill campaigns will be integrated into drill targeting with the newly acquired Multiphysics data. High confidence datasets from all three survey grids have now been received and are in the process of joint inversion and modelling to refine drill targets for a summer drill programme planned for September 2025.
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