Mr. Matthew Schwab reports

STALLION URANIUM RECOMMENCES DRILLING AT MOONLITE PROJECT

Stallion Uranium Corp. has successfully recommenced drilling operations at its Moonlite project in the Athabasca basin, Northern Saskatchewan, and has provided shareholders with an update on the April 1, 2026, incident.

Drilling update

Drilling has now recommenced at the Moonlite project. To date, the company has completed approximately 1,900 metres of the planned 4,000-metre phase 1 diamond drill program. Every drill hole completed so far has intersected significant alteration and structure.

The first completed drill hole (ML26-001A) successfully intersected multiple fault zones in both the sandstone and basement rocks. This included two wide fault zones (approximately 66 to 109 metres) in the sandstone exhibiting strong quartz dissolution, brecciation and broken core. In the basement, a significant graphitic fault zone was encountered, associated with strong to locally massive clay alteration. This zone is interpreted to represent the primary conductive source identified in the company's geophysical data sets.

Darren Slugoski, vice-president of exploration, said: "The consistent intersection of significant alteration and structural features in every hole drilled is highly encouraging for uranium exploration in the Athabasca basin. We are observing key indicators for uranium mineralization, including sandstone bleaching and dissolution, clay alteration, brecciation, and faulting. These elements often serve as pathways and traps for uranium-bearing fluids in the basin, and we look forward to advancing the program with refined targeting informed by real-time results."

Importantly, the intersection of a graphitic fault zone together with significant structural complexity and alteration strongly validates the company's integrated geophysical targeting model. These results confirm a structurally complex and altered system consistent with the Coyote corridor and support the presence of a fertile hydrothermal system.

Drilling continues to test priority areas within the interpreted conductive corridor, with emphasis on zones of structural complexity and alteration favourable for uranium mineralization. Stallion remains fully financed to complete the current program, and continues to prioritize safety, environmental stewardship and technical excellence as it advances exploration at the Moonlite project.

Incident update

The company is relieved to report that the two contractors injured in the isolated incident remain in stable condition and are receiving additional treatment. Stallion continues to provide its full support to the individuals, their families and colleagues, and remains hopeful for their continued improvement and full recovery.

The site inspection and investigation have concluded successfully. The Chief Mines Inspector from Occupational Health and Safety Saskatchewan has granted approval for drilling operations to resume. Both Stallion Uranium and Base Drilling have fully completed all required corrective actions to help prevent similar incidents in the future.

Matthew Schwab, chief executive officer of Stallion Uranium Corp, said: "We are grateful for the close co-operation and professionalism demonstrated by our team, the team at Base Drilling and all regulatory authorities since the incident. Together, we have navigated a difficult experience with transparency, care and a shared commitment to safety, allowing us to move forward responsibly while prioritizing the well-being of everyone involved."

Upcoming events

On Tuesday, April 28, at 3 p.m. Eastern Time, Mr. Schwab will be providing further commentary in an interview with Romeo Maione on the company's exploration efforts and more information on the company and its plans for 2026.

Qualifying statement

The foregoing scientific and technical disclosures for Stallion Uranium have been reviewed and approved by Darren Slugoski, PGeo, vice-president, exploration, a registered member of the Professional Engineers and Geoscientists of Saskatchewan. Mr. Slugoski is a qualified person as defined by National Instrument 43-101.

About Stallion Uranium Corp.

Stallion Uranium is working to "fuel the future with uranium" through the exploration of roughly 1,700 square kilometres in the Athabasca basin, home to the largest high-grade uranium deposits in the world. The company, with joint venture partner Atha Energy, holds the largest contiguous project in the Western Athabasca basin adjacent to multiple high-grade discovery zones. With a commitment to responsible exploration and cutting-edge technology such as the use of the proprietary Haystack TI technology, Stallion is positioned to play a key role in the future of clean energy.

The company's leadership and advisory teams comprise uranium and precious metals exploration experts with the capital markets experience and the technical talent for acquiring and exploring early stage properties.

We seek Safe Harbor.