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VANCOUVER, British Columbia, June 27, 2024 (GLOBE NEWSWIRE) — Stallion Uranium Corp. (the “Company” or “Stallion”) (TSX-V: STUD; OTCQB: STLNF; FSE: FE0) is pleased to announce preliminary results from the completion of a MobileMT™ airborne geophysical survey (the “Opinion poll”) on its 100% owned Sandy Lake project (the “Project”). The project is located approximately 11 km west of Shea Creek and the Cluff Lake Mine in the prolific southwest Athabasca Basin of northern Saskatchewan.

Highlights

  • 27 kilometers of conductive trends in the basement were delineated.
  • Large, multi-kilometer-long conductive trends coincide with bedrock structures similar to those at Shea Creek and Cluff Lake.
  • The project is progressing to drilling readiness with defined target areas
  • Subsequently, ground geophysical surveys will be carried out to more precisely determine the targets prior to drilling tests.

“With the completion of this survey, attractive target areas have been identified at Sandy Lake and the project is one step closer to being drill ready,” said Stallion CEO Drew Zimmerman. “With geological features similar to the nearby Shea Creek and Cluff Lake mines, Sandy Lake is emerging as a world-class project with significant discovery potential.”

Stallion Uranium identifies five conductive trends as key targets at Sandy Lake uranium project

illustration 1 – Survey results for Sandy Lake Mobile MT, a wholly owned Stallion

Darren Slugoski, Vice President of Exploration, said: “The comprehensive MobileMT™ survey was able to identify and prioritize five individual conductive trends that will be the target of the next phase of exploration. The survey provides Stallion with the additional detail and resolution required to interpret the geological features known to host uranium mineralization.”

Results

Convolutions Geoscience was commissioned to conduct an interpretation of the 2024 AFMAG results collected by Expert Geophysics. The results of the survey identified five discrete conductive trends (Figure 1) designated SL1 to SL5. The conductors are oriented in three dominant directions, with conductors SL1, SL3 and SL4 trending NW-SE, conductor SL2 trending E-W and conductor SL5 trending N-S.

SL1, SL3 and SL4 represent conductive corridors that run subparallel to the Saskatoon Lake conductive trend that hosts the Shea Creek deposits just 11 km to the east. Conductor corridors SL1 and SL3 are located above and below the surface of the unconformity model, suggesting that the sandstone may have been breached. SL2 and SL4 are thought to lie on and below the unconformity. The data also indicate that some of the conductive anomalies coincide with ring and radial structures from the nearby Carswell impact. SL5 is thought to lie deeper in the basement than the other conductors. Interactions with the regional conductors and the Carswell radial structures are interesting targets as they could create the necessary sites to trap and concentrate uranium-bearing fluids.

The survey was able to identify structural complexities, including bends and junctions, in the basement geology that suggest further favourable conditions for uranium mineralisation. These results will be used to prioritise the newly identified conductor corridors for the next phases of exploration.

Objectives of the survey

Expert Geophysics Ltd. (“Expert”) has completed 190 line-kilometers of MobileMT™ covering the entire Sandy Lake Project in the southwest Athabasca Basin. The objective of the survey was to map the structure and lithology of the bedrock, including potential zones of alteration and mineralization, by observing apparent conductivity at different frequencies and inverting the EM data to determine the distribution of resistivity with depth. VLF EM and magnetic data were used to investigate the properties of the bedrock units to provide additional information to prioritize target areas and advance exploration.

Next Steps

Stallion has clearly outlined 5 priority trends that contain additional geophysical anomalies known to be associated with uranium mineralization in the area. This new data continues to meet all the requirements for further exploration with a ground electromagnetic survey. The ground survey would cover the SL1 and SL2 conductive corridors to identify the best drill locations for each trend.

Qualifying statement

The above scientific and technical information relating to Stallion Uranium has been reviewed by Darren Slugoski, P.Geo., VP 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

Stallion Uranium is working to supply uranium for the future by exploring over 3,000 km² in the Athabasca Basin, home to the largest high-grade uranium deposits in the world. The Company, along with its joint venture partner Atha Energy (TSX-V: SASK), owns the largest contiguous project in the western Athabasca Basin, adjacent to several high-grade discovery zones.

Our management and advisory teams consist of uranium and precious metals exploration experts with capital markets experience and the technical talent to acquire and explore early-stage properties.

Stallion offers options with two gold projects in Idaho and Nevada that are located near world-class gold deposits and allow you to capitalize on the upside potential of district development with limited capital expenditure.

For more information, visit stallionuranium.com or contact:

Drew Zimmerman
Managing Director
778-686-0973
[email protected]

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release contains forward-looking statements and forward-looking information within the meaning of Canadian securities legislation (collectively, “forward-looking statements”) that address the Company’s current expectations and beliefs with respect to future events. All statements that express or involve discussions with respect to expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, through the use of words or phrases such as “will likely result”, “is expected”, “anticipates”, “will continue”, “is anticipated”, “anticipates”, “believes”, “estimates”, “intends”, “plans”, “forecast”, “projection”, “strategy”, “goal” and “outlook”) are not historical facts and may be forward-looking statements and involve estimates, assumptions and uncertainties that may cause actual outcomes or results to differ materially from those expressed in such forward-looking statements. There can be no assurance that these expectations will prove to be correct and undue reliance should not be placed on the forward-looking statements contained in this report of material changes, which speak only as of the date they are made.

Forward-looking statements are based on a number of assumptions and are subject to a number of risks and uncertainties, many of which are beyond the control of the Company, which could cause actual results and events to differ materially from those disclosed or implied by such forward-looking statements. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. New factors emerge from time to time and it is not possible for the Company to predict all of them or to assess the impact of each of these factors or the extent to which any factor or combination of factors may cause results to differ materially from those contained in any forward-looking statement. All forward-looking statements included in this presentation are expressly qualified in their entirety by this cautionary statement.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3274060d-84d4-4881-92f2-52e90ecf23bb


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