Stallion Discoveries Corp. Announces Name Change to Stallion Uranium Corp.
700-838 WEST HASTINGS ST
VANCOUVER, BRITISH COLUMBIA
V6C 0A6
Stallion Discoveries Corp. Announces Name Change to
Stallion Uranium Corp.
Vancouver, British Columbia, October 12, 2023 – Stallion Discoveries Corp. (the “Company” or “Stallion”)
(TSX-V: STUD; OTCQB: STLNF; FSE: HM40), a prominent uranium explorer in the Athabasca Basin, is pleased to
announce the Company will change its name to Stallion Uranium Corp., pending TSX Venture
Exchange approval.
Under the name of Stallion Uranium Corp., the Company aims to underscore its focus on uranium exploration
in the Athabasca Basin. Stallion, through three separate transactions over the previous nine months has built
the largest continuous land package in the prolific and under-explored Western Athabasca Basin. The company
is driven by a mission to find the next significant uranium discovery and fuel the future with uranium. Uranium
plays a pivotal role in nuclear power generation, which is increasingly recognized as a low-carbon, high-energy
alternative to traditional fossil fuels and essential in the global transition to clean energy.
"Stallion Uranium Corp. reflects our dedication to advancing our uranium projects in the Athabasca Basin and
our commitment to advancing sustainable e nergy solutions,” expressed Stallion’s CEO, Drew Zimmerman .
“The world needs a significant amount of exploration for uranium resources to ensure a pipeline of available
deposits that will contribute to fueling a more sustainable future.”
Recent Exploration Highlights
Stallion has completed a regional airborne exploration on its 100% owned mineral claims covering 78,831
hectares in the Athabasca Basin. The program consisted of a VTEMTM Plus electromagnetic (EM), and magnetic
survey designed to identify prospective condu ctive corridors and drill targets. When combined with all
available historical data Stallion was able to:
• Identify over 35 km of cumulative prospective conductive corridors.
• Prioritize 4 key target areas across the Coffer and Gunter Lake projects.
• Coffer Project is ideally situated 3 km from the Saskatoon Lake Conductor which hosts the Shea Creek
Project. The VTEM TM Plus survey results identified untested conductors which occur sub -parallel to
the uranium bearing Saskatoon Lake Conductor.
• Coffer Project target areas are proximal to the Clearwater Domain which is theorized to be a key driver
of uranium bearing fluid for F3 Uranium’s JR Zone.
• Multiple structural trends that reflect the Patterson Lake trend have been identified as priority areas
on the Gunter Lake Project. The conductors extend onto the Stallion / Atha JV claim package which
will be further defined with exploration in fall 2023.
Upcoming Exploration
Exploration planned for this fall will include a Ground Time Domain Electromagnetic Survey over 4 target areas
identified on the Coffer and Gunter Lake Projects. The surveys will increase the resolution from the existing
regional survey data and allow for m ore precise drill targeting of potential uranium mineralization zones.
These are highly prospective targets areas that Stallion has prioritized as it prepares for its maiden drill
program planned to begin at the start of 2024.
In addition to the explora tion on the Company’s 100% owned projects, Stallion will be embarking on a new
frontier of exploration in the under -explored Western Athabasca Basin. The company will be utilizing a
regional airborne EM survey to fly over 5,550 line-km’s, efficiently covering the entire ATHA Energy JV Project.
Stallion will utilize 3 separate survey systems in different project locations, each designed to identify new
prospective conductive corridors where no effective exploration program has ever been completed. This
program will allow Stallion to locate target areas over vast areas that were previously unexplored, allowing
Stallion further prospects for additional high priority target areas.
Stallion’s Gold and Critical Mineral Assets
While the focus of the Company has shifted to focus on its uranium assets, Stallion still holds its Horse Heaven
and Richmond Mountain gold and critical mineral assets in Idaho and Nevada. These are both incredibly strong
exploration projects, with both ne ighbouring world class deposits that have significant milestones in the
coming months. The Company will continue to work to create value for its shareholders as it explores various
options to see the advancement of these projects.
The transition from St allion Discoveries Corp. to Stallion Uranium Corp . will not impact the company's core
values or dedication to excellence. Stakeholders, including shareholders, clients, and partners, can expect the
same level of professionalism, integrity, and innovation that Stallion Discoveries Corp has been known for over
the years.
Correction on Details of Previously Announced Financing
Additionally, the Company makes corrections to previously announced financing. F urther to its news release
on October 11, 2023, the Company wishes to correct the details of the closed a non -brokered private
placement offering for total gross proceeds of $3,303,508.24 (the “Offering”).
The Company has allotted and issued 9,160,451 Flow-Through Units of the Company (each, a “ FT Unit”) at a
price of $0.24 per FT Unit and 5,525,000 Non-Flow Through Units of the Company (each, a “Unit) at a price of
$0.20 per Unit. Each FT Unit consists of one common share of the Company to be issued as a “flow -through
share” within the meaning of the Income Tax Act (Canada) (each, a “FT Share”) and one-half of one common
share purchase warrant (each whole warrant, a “ Warrant”). Each Unit consists of one common share of the
Company (each, a “Share”) and one-half of one Warrant. Each Warrant entitle s the holder to purchase one
common share of the Company (each, a “Warrant Share”) at a price of $0.30 for a period of 24 months.
In relation to the Offering, the Company has paid finder’s fees of $ 196,735.58 and issued 851,232 finder’s
warrants to arm’s-length parties, entitling the holder to acquire one Share at a price of $0.30 per Share for a
period of 24 months . In addition, the Company has paid an advisory fee of $60,000 to Canaccord Genuity
Corp. which was paid through the issuance of 300,000 Units. All securities issued pursuant to the Offering will
be subject to a hold period expiring February 12, 2024. The Offering remains subject to final approval of the
TSX Venture Exchange.
The gross proceeds from the FT Shares will be used by the Company to incur eligible “Canadian exploration
expenses” that qualify as “flow -through critical mineral mining expenditures” as such terms are defined in
the Income Tax Act (Canada) (the “ Qualifying Expenditures”) related to the Company’s uranium projects in
the Athabasca Basin, Saskatchewan, on or before December 31, 2024. All Qualifying Expenditures will be
renounced in favour of the subscribers of the FT Units effective December 31, 2023. The gross proceeds from
the sale of Units will be used by the Company towards non -qualifying exploration expenditures and general
working capital.
A portion of the Offering constitutes a “related party transaction” within the meaning of TSX Venture Exchange
Policy 5.9 and Multilateral Instrument 61-101 -Protection of Minority Security Holders in Special
Transactions (“MI 61-101”) adopted in the Policy. The Company has relied on exemptions from the formal
valuation and minority shareholder approval requiremen ts of MI 61-101 contained in sections 5.5(a) and
5.7(1)(a) of MI 61-101 in respect of related party participation in the Offering.
About Stallion Discoveries
Stallion Discoveries 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 holds
the largest contiguous project in the Western 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 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
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.