Mr. Jon Bey reports

STANDARD URANIUM ANNOUNCES CLOSING OF LIFE OFFERING

Standard Uranium Ltd. has closed its previously announced offering under the listed issuer financing exemption under Part 5A of National Instrument 45-106, Prospectus Exemptions, and has issued 25 million flow-through units at a price of 10 cents per flow-through unit. Each flow-through unit consists of one common share of the company, issued as a flow-through share within the meaning of the Income Tax Act (Canada), and one-half of one common share purchase warrant. Each warrant entitles the holder to purchase one common share of the company at a price of 15 cents at any time on or before Oct. 15, 2027.

The company anticipates the net proceeds raised from the offering will be used for the exploration of the company's Saskatchewan uranium projects.

In connection with closing of the offering, the company paid finders' fees of $150,000 and issued 1.5 million non-transferable share purchase warrants to certain arm's-length parties that assisted in introducing subscribers to the private placement offering. Each finder warrant is exercisable on the same terms as the warrants. The offering was conducted in reliance on the listed issuer financing exemption, and, as a result, the securities issued to subscribers in the offering are not subject to a hold period in accordance with applicable Canadian securities laws.

Separately, the company is also continuing to offer up to a further 16,761,000 flow-through units, at a price of 10 cents per flow-through unit, for gross proceeds of up to $1,676,100 to purchasers resident in Canada pursuant to the accredited investor exemption under Section 2.3 of National Instrument 45-106, Prospectus Exemptions. As a result, any flow-through units issued in this separate offering will be subject to a statutory hold period for four months and one day in accordance with applicable securities laws. Completion of this offering remains subject to the approval of the TSX Venture Exchange.

About Standard Uranium Ltd.

Standard Uranium is a uranium exploration company and emerging project generator poised for discovery in the world's richest uranium district. The company holds interest in over 235,435 acres (95,277 hectares) in the world-class Athabasca basin in Saskatchewan, Canada. Since its establishment, Standard Uranium has focused on the identification, acquisition and exploration of Athabasca-style uranium targets with a view to discovery and future development.

Standard Uranium's Davidson River project in the southwestern part of the Athabasca basin in Saskatchewan comprises 10 mineral claims over 30,737 hectares. Davidson River is highly prospective for basement-hosted uranium deposits due to its location along trend from recent high-grade uranium discoveries. However, owing to the large project size with multiple targets, it remains broadly undertested by drilling. Recent intersections of wide, structurally deformed and strongly altered shear zones provide significant confidence in the exploration model and future success is expected.

Standard Uranium's eastern Athabasca projects comprise over 43,185 hectares of prospective landholdings. The eastern basin projects are highly prospective for unconformity-related and/or basement-hosted uranium deposits based on historical uranium occurrences, recently identified geophysical anomalies and location along trend from several high-grade uranium discoveries.

Standard Uranium's Sun Dog project in the northwestern part of the Athabasca basin in Saskatchewan comprises nine mineral claims over 19,603 hectares. The Sun Dog project is highly prospective for basement- and unconformity-hosted uranium deposits yet remains largely untested by sufficient drilling despite its location proximal to uranium discoveries in the area.

We seek Safe Harbor.