Mr. Jon Bey reports

STANDARD URANIUM INITIATES PARTNER FUNDED SURFACE EXPLORATION PROGRAM AT THE CORVO URANIUM PROJECT, EASTERN ATHABASCA BASIN, SASKATCHEWAN

Standard Uranium Ltd. has commenced additional ground exploration on its Corvo uranium project, currently under a three-year earn-in option agreement with Aventis Energy Inc. Exploration crews mobilized to site on Oct. 1, 2026, to begin a detailed surface mapping and sampling program across historical uranium showings and newly identified zones of interest.

The fall 2026 program will focus on prospective areas around and along strike of the winter 2026 inaugural drilling campaign, which confirmed anomalous* uranium in all nine completed drill holes. Results returned a total of 55 metres of weakly anomalous uranium (more than 10 parts per million (ppm) uranium (U), partial), including 23 metres of moderately anomalous uranium (more than 50 ppm U, partial) and including 13 metres of highly anomalous uranium (more than 100 ppm U, partial) (1).

Highlights:

• High-grade** uranium at surface: A prospecting, mapping and geochemical sampling program is under way to expand on newly identified and historical uranium-bearing outcrops, including the Manhattan showing (1.19 to 8.10 per cent U3O8) (2) and SMDI showing 2052 (0.137 per cent U3O8 and 2,300 ppm thorium (Th)) (3).
• Integration with drilling results: The results of the inaugural drill program on the project clearly outlined a robust multikilometre uranium-bearing mineralized system across the Manhattan, Brooklyn and Tribeca target areas. Drilling confirmed the presence of significant fault systems linked to uranium enrichment and prospective hydrothermal alteration in the basement rock, which will be further investigated in detail at surface during the program.
• Follow-up targets and next steps: Following the integration of additional surface exploration results with drilling and geophysical data sets, a second phase drilling program is being planned to continue testing along strike of mineralized drill holes in addition to priority regional drill targets. Several priority uranium targets remain along more than 25 kilometres (km) of structural strike length.

"Following the initial success of our first drill program on the project, we are eager to get boots back on the ground with new access to areas we know are highly prospective for significant uranium mineralization," said Sean Hillacre, president and vice-president of exploration of Standard Uranium. "We are fortunate to have sufficient outcrop exposure at Corvo to allow us to link detailed mapping and sampling work with our new subsurface drilling and geochemistry data. We aim to expand on known mineralized areas on the project and discover additional surface showings prior to follow-up drilling in 2027."

2026 fall exploration program

Aventis will finance the exploration program with Standard Uranium operating the exploration as part of the option agreement with the company dated May 8, 2025 (4).

The company's technical team mobilized to the Corvo project on Oct. 1, 2026, to undertake a detailed mapping, prospecting and surface sampling program to expand on known uranium showings and collect additional geological information at surface which can be linked to drill results. Collected grab samples will be transported to Saskatchewan Research Council Geoanalytical Laboratories in Saskatoon, Sask., for geochemical analysis.

Supplementary geophysical work programs across the project are also being designed to further refine drill targets for a 2027 drill program. Continuing geophysical interpretation and modelling is planned throughout the remainder of 2026 to integrate drilling, geophysics and prospecting data sets, which will assist with drill targets generation across the project prior to follow-up drilling next year.

The company believes the project is highly prospective for the discovery of shallow, high-grade basement-hosted uranium mineralization akin to the Rabbit Lake deposit and the recently discovered Gemini mineralized zone. Located just outside the current margin of the Athabasca basin, Corvo boasts shallow drill targets within bedrock overlain by thin glacial till. Several outcrop showings of mineralized veins and fractures are present on the project, notably the Manhattan showing, which returned modern sample results up to 8.10 per cent U3O8 at surface (2).

Qualified person statement

The scientific and technical information contained in this news release has been reviewed and approved by Sean Hillacre, PGeo, president and vice-president of exploration of the company, and a qualified person as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects.

Samples collected for analysis are sent to SRC Geoanalytical Laboratories in Saskatoon, Sask., for preparation, processing and ICP-MS (inductively coupled plasma mass spectrometry) multielement analysis using total and partial digestion and boron by fusion. Basement samples were tested with ICP-MS (2) uranium multielement exploration package plus boron. All samples marked as radioactive upon arrival to the lab were also analyzed using the U3O8 assay (reported in weight per cent). Basement rock split interval samples range from 0.1 to 1.0 metre (m). SRC is an ISO/IEC 17025/2005-and Standards Council of Canada-certified analytical laboratory. Blanks, standard reference materials and repeats were inserted into the sample stream at regular intervals in accordance with Standard Uranium's quality assurance/quality control (QA/QC) protocols. All samples passed internal QA/QC protocols and the results presented in this news release are deemed complete, reliable and repeatable.

Historical data disclosed in this news release relating to sampling results from previous operators are historical in nature. Neither the company nor a qualified person has yet verified this data and therefore investors should not place undue reliance on such data. The company's future exploration work may include verification of the data. The company considers historical results to be relevant as an exploration guide and to assess the mineralization, as well as economic potential of exploration projects. Any historical grab samples disclosed are selected samples and may not represent true underlying mineralization.

(1) News release: "Standard Uranium Confirms Uranium Enrichment in all Winter 2026 Drill Holes at the Corvo Uranium Project."

(2) News release: "Standard Uranium Confirms High-Grade Uranium Mineralization up to 8.10 per cent U3O8 at Surface on the Corvo Project."

(3) SMDI No. 2052, mineral assessment report MAW00047, Eagle Plains Resources Inc., 2011 to 2012.

(4) News release: "Standard Uranium Announces Signing of Definitive Agreement to Option Corvo Project in Eastern Athabasca Basin."

* In crystalline basement rocks, the company considers concentrations of uranium more than 10 ppm U to be weakly anomalous, concentrations more than 50 ppm U to be moderately anomalous and concentrations more than 100 ppm U to be highly anomalous. Intervals represent drilled core lengths; true thicknesses of mineralized zones cannot be determined with certainty at this stage of exploration.

** The company considers uranium mineralization with concentrations greater than 1.0 weight per cent U3O8 to be high grade.

About Standard Uranium Ltd.

The company finds 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 272,035 acres (110,089 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, 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 59,748 hectares of prospective land holdings. 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, 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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