Stallion Discoveries and ATHA Energy Corp. Form Option for Joint Venture Creating the Largest Contiguous Project in the Western Athabasca Basin Stallion Potentially Quadruples Land Position in World Class Uranium District
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700-838 WEST HASTINGS ST
VANCOUVER, BRITISH COLUMBIA
V6C 0A6
Stallion Discoveries and ATHA Energy Corp. Form Option for Joint
Venture Creating the Largest Contiguous Project in the Western
Athabasca Basin
Stallion Potentially Quadruples Land Position in World Class Uranium District
Vancouver, British Columbia, May 16, 2023 – Stallion Discoveries Corp. (the "Company" or "Stallion") (TSX-
V: STUD; OTCQB: STLNF ; FSE: HM4 ) is pleased to announce that the Company has entered into a binding
letter of intent with Atha Energy Corp. (“Atha”) (CSE: SASK) pursuant to which the Company and Atha shall
seek to enter into definitive agreements which shall give the Company an option (the “Option”) to acquire a
70% interest in 47 mineral claims covering 547,524 acres in Saskatchewan’s prolific Western Athabasca Basin
(the “Project”) by acquiring the requisite interest from Atha, which currently holds a 90% interest in the
Project.
The addition of the Project to Stallion’s existing holdings is expected to significantly expand the Company’s
land package in the Western Athabasca Basin to total 715,450 acres. Should the Option be exercised, the
Company may hold an aggregate 692,647 acres that could form the largest contiguous project in the Western
Athabasca basin . This Project’s lands, together with the Company’s current holdings , share significant
borders with projects held by Cameco Corporation, Orano Canada Inc., NexGen Energy Ltd., Denison Mines
Corp. and F3 Uranium Corp., as illustrated in Figure 1. The scale and strategic location of the asset base is
expected to provide numerous high-potential target zones along several major trends as Stallion continues
its exploration efforts.
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Figure 1-Stallion’s Potential Land Package with Option
“We are thrilled to announce this transformational option to expand our position in the Western Athabasca
basin. There is significant strategic value in gaining access to this land package that is directly adjacent to our
current projects. We and other key stakeholders in the district believe that the Western Basin is
underexplored and provides tremendous opportunity for exploration success. Stallion now has the potential
to hold the largest continuous land package in the Western Athabasca basin, offering exploration synergies
and more potential target areas as we execute on our exploration plan ,” stated Stallion CEO, Mr. Drew
Zimmerman.
As previously announced on March 1, 2023, the Company has commenced the first phase of its exploration
program in the Athabasca Basin, completing the data acquisition phase announced on April 27, 2023, and
will provide further updates to the program in the coming weeks.
Key Terms:
• During the term of the Option, Stallion will be the sole operator of all exploration programs on the
Project.
• The Option will become exercisable upon completion of the last Milestone and will remain
exercisable for one year thereafter. Milestones include:
o i) issuance of 3,333,333 shares of Stallion within two business days following the definitive
agreement
o ii) accumulation of $3,311,770 Saskatchewan Exploration Expenditure Credits on the Project
within 12 months
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o iii) accumulation of an additional $8,688,230 Saskatchewan Exploration Expenditure Credits
(for an aggregate of $12,000,000) on the Project within 60 months
• Following the exercise of the Option, Stallion and Atha will commence a joint venture on the Project
with Stallion and Atha (including the carried over interest of the legacy owner) holding a 70% and a
30% interest, respectively
The transaction is subject to TSX Venture Exchange approval on the part of Stallion and the Canadian
Securities Exchange on the part of Atha, execution of definitive agreements in respect of the Option, and
satisfactory completion of due diligence.
About Atha Energy Corp.:
ATHA is a mineral exploration company focused on the acquisition, exploration and development of mineral
resource properties. The Company has an option to acquire a 100% interest and title to the Golden Rose
Property located in Northeastern Ontario and has acquired 3.4 million acres in the Athabasca basin in
Saskatchewan and Alberta along with a 10% carried interest portfolio of claims operated by Nexgen Energy
Ltd. and IsoEnergy Ltd. For more information visit https://www.athaenergy.com.
About Stallion Discoveries
Stallion Discoveries is an exploration company bred to pursue the exploration of large, underexplored land
packages located in the best jurisdictions next to world class projects. Stallion is using modern exploration
techniques to explore historical and new mineral targets on its expansive land package s in Saskatchewan,
Idaho and Nevada with the singular ambition of making significant discoveries. Our leadership and advisory
team 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 with highly prospective targets.
For more information visit Stalliondiscoveries.com
For further information contact:
Lisa Stewart
Investor Relations
(604) 341-8177
Drew Zimmerman
Chief Executive Officer
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
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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 i n their entirety by this cautionary statement.