Mr. Jon Bey reports

STANDARD URANIUM REACHES AGREEMENT FOR $3 MILLION STRATEGIC INVESTMENT

Standard Uranium Ltd. has reached an agreement with a leading arm's-length conglomerate from a Southeast Asian nation (the investor), under which it will complete a strategic investment in the company by way of a non-brokered private placement. The investor is a well-established entity with extensive interests and expertise in the global energy sector and will acquire approximately 19.7-per-cent non-diluted ownership in the company, based on the current capital structure. The offering will consist of 39,215,686 units of the company at a price of 7.65 cents per unit for gross proceeds of $3-million.

Each unit will comprise one common share in the capital of the company and one-half-of-one share purchase warrant. Each warrant will entitle the investor to acquire one additional share at a price of 11.5 cents for a period of 36 months from closing of the offering, subject to accelerated expiry. If the closing price of the shares is 30 cents or higher for 10 consecutive trading days, the exercise period of the warrants may be reduced to 60 days at the company's discretion by issuance of a press release within seven days. Any warrants not exercised before the end of this 60-day period will expire and be void.

As part of the offering, the company and the investor anticipate entering into an investor rights agreement. The agreement is expected to provide the investor with the right to participate in future financings of the company on a pro rata basis and to nominate one member to the board of directors of the company, contingent on the investor maintaining ownership of at least 10 per cent of the outstanding shares of the company.

The company intends to use the net proceeds of the offering for continuing exploration at its flagship Davidson River project and for working capital and general corporate purposes. All securities issued in connection with the offering will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation. Closing of the offering is subject to a number of conditions, including receipt of all necessary corporate, regulatory and shareholder approvals (as applicable), including that of the TSX Venture Exchange.

About Standard Uranium Ltd.

We find the fuel to power a clean energy future.

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 235,678 acres (95,375 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 southwest part of the Athabasca basin, 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 45,000 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 northwest part of the Athabasca basin, 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.

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