Stallion Uranium Closes Sale of Non-Core Uranium Projects in Eastern Athabasca Basin
700-838 WEST HASTINGS ST
VANCOUVER, BRITISH COLUMBIA
V6C 0A6
Stallion Uranium Closes Sale of Non-Core Uranium Projects in
Eastern Athabasca Basin
Vancouver, British Columbia, June 3, 2024 – Stallion Uranium Corp. (the "Company" or "Stallion") (TSX-V:
STUD; OTCQB: STLNF; FSE: HM40) is pleased to announce that , further to its news release dated February
13, 2024, the Company has closed the purchase and sale agreement dated February 12 , 2024 (the
“Agreement”), under which the Company has sold Glorious Creation Limited (“Glorious”) 100% interest in
its three Eastern Basin Projects, comprising seven (7) mineral claims totalling approximately 10,874 hectares
(26,870 acres) located in the Province of Saskatchewan (the “Property”).
" All three projects are located in the heart of the world-renowned Eastern Athabasca Basin and hold potential
for a high-grade discovery. The closing of this sale will bring exploration programs to these projects, and
Stallion is aligned to benefit from that exploration success,” stated Drew Zimmerman CEO. “Our technical and
geological team will be working with Glorious to manage the exploration efforts, but the sale allows for
Stallion to remain focused on our targets in the south western Athabasca Basin, including our Appaloosa
target that saw great success on our maiden drill program, moving the company towards a discovery”
Pursuant to the Agreement, Glorious shall acquire a 100% interest in the Property for the following
consideration to the Company:
• concurrently with the signing the Agreement, a cash payment of $100,000.00 (the “Deposit”), which
one half of the Deposit ($50,000) will be refundable by the Company to Glorious should Glorious
does not obtain approval from the Canadian Securities Exchange (“CSE”);
• on the date of the Closing (the “Closing Date”), a cash payment of $300,000;
• an aggregate of 2,500,000 common shares of Glorious (each, a “Share”) to be issued to the Company
as follows:
o 500,000 Shares on the date which is six (6) months following the Closing Date,
o 500,000 Shares on the date which is twelve (12) months following the Closing Date,
o 500,000 Shares on the date which is eighteen (18) months following the Closing Date, and
o 1,000,000 Shares on the date which is twenty-four (24) months following the Closing Date.
The Company shall retain a royalty of three percent (3%) of net smelter returns from minerals mined and
removed from the Property, of which Glorious may purchase up to one and one-half percent (1.5%) at any
time prior to commercial production on the Property as follows: $500,000 for one -half percent ( 0.5%);
$750,000 for an additional one-half percent (0.5%); and $1,000,000 for an additional one-half percent (0.5%).
The Company and Glo rious have also entered into an operating agreement (the “ Operating Agreement”)
pursuant to which Stallion will conduct an agreed upon exploration program on one or more of the Properties
for an operating fee.
Figure 1 – Stallion Uranium’s Eastern Basin Projects
The projects are located in the Eastern Athabasca Basin with the Wollaston and Mudjatik Supergroups. The
region has been the focus of uranium exploration over the last 50 years and is host to the world class Cigar
Lake and McArthur River Uranium Deposits w hich together host over 550M pounds of uranium. Uranium
mineralization in the Eastern Athabasca Basin occurs in three deposit types: 1) unconformity-hosted uranium
which occur at the contact between the overlying Athabasca Basin and the crystalline basement rocks ; 2)
basement-hosted uranium which occur within the basement rocks ; 3) sandstone-hosted uranium which
occur perched in the Athabasca sandstone. The projects have the potential to host all three uranium deposit
types. Given that uranium mineralization is structurally controlled, the company will be utilizing the recently
completed magnetic and electromagnetic survey data to identify structural areas for advanced exploration.
Additionally, the Company has engaged Knox Communications Inc. (“Knox”) to provide investor relations
services for a period of six (6) months commencing June 1, 2024, for a consideration of $4,000 CAD per month
and renewing for additional one-month terms unless terminated by either party, pursuant to an agreement
dated May 31, 2024. The Company has granted 200,000 stock options, exercisable at $0.10 expiring on May
31, 2029 to Knox pursuant to the agreement. The stock options are issued pursuant to the Company’s share
option plan and are subject to vesting conditions. Knox does not currently own any interest, directly or
indirectly, in the Company or its securities.
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 , with JV
partner Atha Energy ( TSXV:SASK), 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 stallionuranium.com or contact:
Drew Zimmerman
Chief Executive Officer
778-686-0973
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 ev ents 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 e stimates, 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.