VANCOUVER, British Columbia, Feb. 28, 2024 (GLOBE NEWSWIRE) -- Stallion Uranium Corp. (the “Company” or “Stallion”) (TSX-V: STUD; OTCQB: STLNF; FSE: HM40) is pleased to announce that it has acquired by low-cost staking nine new prospective uranium exploration dispositions (or “claims”) in northern Saskatchewan. This increases Stallion’s total land package in the Southwestern Basin to 321,875 hectares (795,353 acres). The nine dispositions add an additional 19,361 hectares to Stallion’s 100% owned holdings in the Athabasca Basin.
“The recently completed geophysical survey over our Atha Energy JV project uncovered a significant number of previously unknown conductive corridors. Stallion, utilizing that data, was able to stake the extensions of high priority target areas and create a new high potential uranium project,” stated Drew Zimmerman, CEO. “The total land package we have been able to put together is unrivalled in the Southwestern Basin, not only in size, but also in the number of highly prospective target areas discovered. We believe that by deploying the latest exploration technologies to prioritize these targets, Stallion continues to significantly increase our probability of discovering the next significant uranium deposit needed to fuel a cleaner future.”
Figure 1 – Stallion Uranium’s New Mineral Claims
Darren Slugoski, Vice President Exploration, Canada, stated, “The new claims were strategically staked to cover anomalous geophysical signatures that look to extend from the adjacent ground held by Stallion’s JV project. These geophysical signatures are known to be associated with uranium mineralization in the basin, and Stallion was able to cover additional length of the high potential conductive corridors. Further expanding the number of tier one target areas under the company’s control.”
New Mineral Dispositions
Stallion staked an additional 19,361 hectares, of which 18,470 ha are contiguous to the company’s existing projects in the Southwestern Athabasca Basin. Another 891 ha are proximal to the companies Coffer project. These additional claims continue to increase Stallion’s land position in the area and cover more areas the company views as highly prospective. The addition of these claims expands the exploration land package directly east of the world class Arrow uranium deposit owned by NexGen Energy Ltd. See Figure 1 for the updated property mineral claim map location.
The newly staked claims, when combined with existing claims staked and announced January 17, 2024, allow for the creation of the 100% owned Upper Mirror River Project. The new project is 31,645 ha and covers extensions of target areas found from the recent Mobile MT survey completed over the company’s Atha Energy JV project announced on February 21, 2024. The new project hasn’t had any advanced exploration and or even an effective regional geophysical survey. The Company believes it has the potential to host several kilometre-scale under-explored prospective zones as seen in the recently received data. Stallion will look to follow its roadmap to discovery by implementing state of the art geophysical surveys to further advance the most compelling target areas. The exploration will focus on areas with magnetic lows and conductive geophysical signatures which have been known to correlate with uranium mineralization.
The Company further announces that on February 26, 2024, it extended its engagement with Volans Capital Corp. (“Volans”) to provided digital marketing and advertising services for an additional term of six (6) months commencing on February 16, 2024, in consideration of payments totalling an aggregate of USD $400,000. Further to the Company’s news release dated November 22, 2023, the Company and Volans completed a prior three-month term for USD $400,000.
Additionally, the Company has engaged Avec Creations Ltd. TBA The Next Big Rush (“Avec”) of London, England, to provide marketing services including CEO interviews and recommendations on Avec’s YouTube Channel, tweets and retweets on Avec’s Twitter account, notable press releases featured on Avec’s newsletters and social media outreach to other channels, for a term of six (6) months commencing on February 26, 2024, in consideration of an up-front payment of CAD $35,000.
Volans and Avec are arm’s-length to the Company. Neither Volans nor Avec currently own any interest, directly or indirectly, in the Company or its securities nor any right or intent to acquire such an interest. The agreements with Volans and Avec remain subject to approval of the TSX Venture Exchange.
Qualifying Statement:
The foregoing scientific and technical disclosures for Stallion Uranium have 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 Fuel the Future with Uranium through the exploration of over 3,000 sq/km in the Athabasca Basin, home to the largest high-grade uranium deposits in the world. The company, together with JV partner Atha Energy (CSE: SASK), holds the largest contiguous project in the Southwestern Athabasca Basin adjacent to multiple high-grade discovery zones.
Our leadership and advisory teams are comprised of uranium and precious metals exploration experts with the capital markets experience and the technical talent for acquiring and exploring early-stage properties.
Stallion offers optionality with two gold projects in Idaho and Nevada that neighbour world class gold deposits offering exposure to upside potential from district advancement with limited capital expenditures.
For more information visit stallionuranium.com or contact:
Drew Zimmerman
Chief Executive Officer
778-686-0973
info@stallionuranium.com
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 relate to the Company’s current expectations and views of future events. Any statements that express, or involve discussions as 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”, “are expected to”, “expects”, “will continue”, “is anticipated”, “anticipates”, “believes”, “estimated”, “intends”, “plans”, “forecast”, “projection”, “strategy”, “objective” and “outlook”) are not historical facts and may be forward-looking statements and may involve estimates, assumptions and uncertainties which could cause actual results or outcomes to differ materially from those expressed in such forward-looking statements. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this material change report should not be unduly relied upon. These statements 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 Company’s control, which could cause actual results and events to differ materially from those that are disclosed in 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 may be required by law. New factors emerge from time to time, and it is not possible for the Company to predict all of them, or assess the impact of each such factor 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. Any forward-looking statements contained in this presentation are expressly qualified in their entirety by this cautionary statement.
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