VANCOUVER, British Columbia, April 29, 2020 (GLOBE NEWSWIRE) -- Standard Uranium Ltd. (TSX.V: STND) (“Standard Uranium” or the “Company”) is pleased to announce that it has received final approval from the TSX Venture Exchange (“TSXV”) to list the Company’s common shares (“Common Shares”) on the TSXV. The Common Shares are expected to begin trading on the TSXV at the open of markets on May 4, 2020 under the symbol “STND”.
“The listing of Standard Uranium’s common shares on the TSXV is a significant milestone for our company and we would like to thank our stakeholders and shareholders for their ongoing support,” said Jon Bey, Chairman, President and CEO of the Company. “Our team has been working towards this day for some time and we are enthused that our listing coincides with an upward trending uranium market.”
Standard Uranium’s final long-form prospectus dated April 27, 2020 was receipted by the British Columbia Securities Commission on April 28, 2020, and is available for review under Standard Uranium’s SEDAR issuer profile (www.sedar.com).
Standard Uranium is a Canadian uranium exploration company focused on the Athabasca Basin region of Saskatchewan, Canada. The Company was created in 2017 with the sole intention of making a high grade discovery on its flagship Davidson River Project. The Company has assembled a strong executive team with proven uranium exploration discovery success in the southwest region of the Athabasca Basin. Board member Garrett Ainsworth and VP Exploration Neil McCallum have identified the first drill targets based on extensive geophysical programs completed in 2018 and 2019 including: VTEM, ZTEM, and magnetic surveys.
“We are extremely excited to begin the first-ever uranium targeted drill program on the Davidson River Project,” said Neil McCallum, VP Exploration. “Our teams experience in the Athabasca Basin has allowed us to amass a great deal of knowledge from past exploration success. Our drill targets have been firmed up with multiple coincident geophysical anomalies that show similarities to signatures observed at the Arrow and Triple R Deposits, which are located along trend and within the same domain of rocks as our Davidson Property.”
Standard Uranium’s Davidson River Project is located in the southwest Athabasca Basin in Saskatchewan, Canada (fee figure #1), which hosts Fission Uranium Corp.’s Triple R Deposit and NexGen Energy Ltd.’s Arrow Deposit. Standard Uranium has completed two years of exploration programs preparing, identifying and permitting drill targets, and is currently targeting a drill campaign commencing in Q3 2020.
Figure #1 Athabasca Basin, Saskatchewan, Canada is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ddce1ffe-936e-44b9-8932-c034dcb2d10e
The Athabasca Basin’s Patterson Lake Corridor hosts the Spitfire Zone, the Arrow Deposit, and the Triple R Deposit, and is interpreted by the Company to continue across the Clearwater Domain and through the Davidson River property (see figure #2). Standard Uranium’s inaugural drill program will be focused on this conductor corridor, and additional details of the drill targets can be found on the Company’s website, and in the Company’s April 2020 corporate presentation also available on its website. www.standarduranium.ca
Figure #2 Patterson Lake South Uranium District is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ee25bc25-bd04-4cec-be35-7fa371649cc4
About Standard Uranium (TSX.V: STND)
We find the fuel to power a clean energy future
Standard Uranium is a mineral resource exploration company based in Vancouver, British Columbia. Since its establishment, Standard Uranium has focused on the identification and development of prospective exploration stage uranium projects in the Athabasca Basin in Saskatchewan, Canada. Standard Uranium’s Davidson River Project, in the southwest part of the Athabasca Basin, Saskatchewan, is comprised of 21 mineral claims over 25,886 hectares. The Davidson River Project is highly prospective for basement hosted uranium deposits, yet remains untested by drilling despite its location along trend from recent high-grade uranium discoveries. A copy of the 43-101 Technical Report that summarizes the exploration on the project is available for review under Standard Uranium’s SEDAR issuer profile (www.sedar.com).
The technical content of this news release has been reviewed and approved by Neil McCallum, B.Sc., P.Geol., a qualified person for the purposes of National Instrument 43-101.
On behalf of the Board,
Standard Uranium Ltd.
President and Chief Executive Officer
The TSX Venture Exchange has neither approved nor disapproved the contents of this press release. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain certain “forward-looking statements” and “forward-looking information” within the meaning of applicable Canadian and United States securities laws. When used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target, “plan”, “forecast”, “may”, “schedule” and other similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to anticipated financing activities, the process for completion of the listing of the Company’s common shares on the TSX Venture Exchange (the “Listing”), anticipated exploration activities to be undertaken by Standard Uranium, the proposed activities of the Company following completion of the Listing, regulatory or government requirements or approvals necessary for completion of the Listing, and other factors or information. Such statements represent the Company’s current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affections such statements and information other than as required by applicable laws, rules and regulations.