Standard Uranium's 2024 Drill Program: Unlocking the Next Athabasca Basin Uranium Discovery

• Standard Uranium is a Canadian uranium exploration company with projects in the Athabasca Basin of Saskatchewan.
• The company has recently shifted to a project generator model, acquiring and advancing projects to the drill-ready stage before farming them out.
• The company currently has 11 projects and plans to work on 7 of them in 2024, including 4-5 drill programs. JV partners provide funding.
• Their flagship Davidson River project has the potential for a major high-grade basement-hosted uranium discovery, with a planned $2M drill program in Aug-Sept 2024.
• News flow in 2024 will include results from Atlantic, Canary, and Sun Dog projects, a capital raise, new JV deals, and Davidson River drilling updates.

About Standard Uranium

Standard Uranium is a compelling investment opportunity in the junior uranium exploration space. With a portfolio of prospective projects in Canada's prolific Athabasca Basin, a savvy project generator business model, healthy finances, and an ambitious 2024 exploration program, the company is well-positioned for discovery success and share price appreciation.

Interview with Chief Executive Officer, Jon Bey

Athabasca Basin Focus

Standard Uranium's projects are located in the Athabasca Basin of northern Saskatchewan, the world's leading district for high-grade uranium. The region hosts the largest and highest-grade uranium mines globally. Majors like Cameco and Orano operate there, and recent discoveries by NexGen Energy and Fission Uranium have added to the excitement.

CEO John Bey explained their regional focus:

"Davidson River is unique - it's in the southwest corner of the Athabasca Basin, which sits right beside Fission's Triple R Project and NexGen's Arrow deposit. Those are basement-hosted deposits...and that's where we will be drilling."

Smart Project Generator Model

Standard Uranium has recently shifted to a project generator exploration model. They acquire prospective projects and advance them to a drill-ready stage with targets defined, then bring in joint venture partners to fund the more expensive drilling. The partners can earn a 75% interest by spending $6-7 million over three years.

This savvy approach allows Standard Uranium to advance a large project portfolio while minimizing dilution and equity raises. It provides consistent news flow and diversifies risk. Partners pay Standard shares, cash, and a 10-12% operator fee for running the projects. CEO John Bey says this generates "$100,000 to $200,000 per month coming into our company...that covers our G&A."

2024 Exploration Program

Standard Uranium has planned an ambitious exploration program for 2024, its biggest yet. Seven of its 11 projects will undergo exploration, including 4-5 drill programs.

The flagship is their 100%-owned Davidson River project. Previous drilling has encountered alteration, structure and uranium mineralization, vectoring towards a potential Tier 1 basement-hosted deposit. The 2024 program will include 5,000-6,000m of drilling to make that potential discovery, with a $2 million budget.

Partner-funded drilling will also test the Atlantic, Canary, and Sun Dog projects. According to CEO John Bey,

"We're drilling our Canary for the very first time this year. We finished The Atlantic in March - under budget, on time, five drill holes, and hit uranium in every hole. It's a phenomenal Phase One drill program. The same thing we're doing, we're drilling Canary right now, first drill holes going in there this week."

Healthy Finances

Standard Uranium has a healthy treasury to fund its 2024 plans. They currently have $1.4 million on hand and are in the middle of a $3 million capital raise, enough to fund the upcoming Davidson River program and G&A.

The JV partnerships bring in additional cash via operator fees and share/cash payments. CEO John Bey indicates this totals $100,000 to $200,000 per month, covering corporate overhead. This allows the money raised to be focused on impactful exploration.

Steady News Flow

2024 will see steady positive news flow for Standard Uranium with multiple potential catalysts. Drill results will be reported from the Atlantis, Canary, Sun Dog and Davidson River projects. New JV partnerships may also be announced. With five projects being drilled by Standard and partners, the odds of a discovery hole are increased.

Standard Uranium offers speculative investors compelling exposure to uranium discovery in the Athabasca Basin. Their project generator model is a smart way to advance a large portfolio and consistently generate news flow while minimizing dilution. With a healthy treasury and an ambitious, fully-funded 2024 exploration program, the company is poised for a potential re-rating on drill success. The current depressed valuations for junior uranium explorers offer an attractive entry point to build a position ahead of results and a rising uranium price.

The Investment Thesis for Standard Uranium

• Exposure to uranium, a key energy transition metal with rising demand and prices
• Prospective projects in the world-class Athabasca Basin uranium district
• Smart project generator model minimizes dilution while allowing project advancement
• Healthy current treasury, capital raise, and cash flow from JV partnerships
• Ambitious 2024 exploration programs funded by Standard and JV partners
• Potential for Tier 1 basement-hosted discovery at flagship Davidson River project
• Strong news flow in 2024 with drill results from multiple projects
• Attractive entry point with depressed junior uranium equity valuations
• Consider building a position ahead of 2024 exploration results and uranium price appreciation

The outlook for uranium is extremely bullish. The world is waking up to the necessity of nuclear power in the energy transition to combat climate change. Demand will surge as new reactors come online globally, while supply remains constrained after years of low prices. The spot uranium price has risen from the low $20s to the $50s but remains well below incentive levels for new mine development. Uranium equities have lagged the commodity price but look poised for a significant catch-up as the market gains attention.