Stallion Uranium Recommences Drilling at Moonlite Project
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STALLION URANIUM RECOMMENCES DRILLING AT
MOONLITE PROJECT
Vancouver, British Columbia - April 28, 2026 - Stallion Uranium Corp. (the “Company” or
“Stallion”) (TSX-V: STUD ; OTCQB: STLNF ; FSE: B76) Stallion Uranium is pleased to
announce the successful recommencement of drilling operations at its Moonlite Project in the
Athabasca Basin, northern Saskatchewan, and to provide shareholders with an update on the
April 1, 2026 incident.
Drilling Update:
Drilling has now recommenced at the Moonlite Project. To date, the Company has completed
approximately 1,900 metres of the planned 4,000-metre Phase 1 diamond drill program. Every
drill hole completed so far has intersected significant alteration and structure.
*Drill holes ML26-001 and ML26-002 were lost due to poor rock conditions
*Drill hole ML26-002A was lost due to the incident that occurred on April 1, 2026
The first completed drill hole (ML26-001A) successfully intersected multiple fault zones in both
the sandstone and basement rocks. This included two wide fault zones (approximately 66 to
109 metres) in the sandstone exhibiting strong quartz dissolution, brecciation, and broken core.
In the basement, a significant graphitic fault zone was encountered, associated with strong to
locally massive clay alteration. This zone is interpreted to represent the primary conductive
source identified in the Company’s geophysical datasets.
Darren Slugoski, Vice President Exploration, said, “The consistent intersection of significant
alteration and structural features in every hole drilled is highly encouraging for uranium
exploration in the Athabasca Basin. We are observing key indicators for uranium
mineralization, including sandstone bleaching and dissolution, clay alteration, brecciation,
and faulting. These elements often serve as pathways and traps for uranium-bearing fluids
in the basin, and we look forward to advancing the program with refined targeting informed
by real-time results.”
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Figure 1: ML26-001A Cross Section
Importantly, the intersection of a graphitic fault zone together with significant structural
complexity and alteration strongly validates the Company’s integrated geophysical targeting
model. These results confirm a structurally complex and altered system consistent with the
Coyote corridor and support the presence of a fertile hydrothermal system.
Drilling continues to test priority areas within the interpreted conductive corridor, with emphasis
on zones of structural complexity and alteration favourable for uranium mineralization. Stallion
remains fully funded to complete the current program and continues to prioritize safety,
environmental stewardship, and technical excellence as it advances exploration at the Moonlite
Project.
Incident Update:
The Company is relieved to report that the two contractors injured in the isolated incident remain
in stable condition and are receiving additional treatment. Stallion continues to provide its full
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support to the individuals, their families, and colleagues, and remains hopeful for their continued
improvement and full recovery.
The site inspection and investigation have concluded successfully. The Chief Mines Inspector
from Occupational Health and Safety Saskatchewan has granted approval for drilling operations
to resume. Both Stallion Uranium and Base Drilling have fully completed all required corrective
actions to help prevent similar incidents in the future.
Matthew Schwab, CEO of Stallion Uranium Corp., said “We are grateful for the close
cooperation and professionalism demonstrated by our team, the team at Base Drilling,
and all regulatory authorities since the incident. Together, we have navigated a difficult
experience with transparency, care, and a shared c ommitment to safety, allowing us to
move forward responsibly while prioritizing the well-being of everyone involved.”
Upcoming Events:
On Tuesday April 28, at 3:00 pm Eastern Time, CEO Matthew Schwab will be provid ing
further commentary in an interview with Romeo Maione on the company's exploration efforts
and more information on the company and its plans for 2026. Further information can be found
here.
Qualifying Statement:
The foregoing scientific and technical disclosures for Stallion Uranium have been reviewed and
approved 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 Corp.:
Stallion Uranium is working to ‘Fuel the Future with Uranium’ through the exploration of roughly
1,700 sq/km in the Athabasca Basin, home to the largest high-grade uranium deposits in the
world. The company, with JV partner Atha Energy holds the largest contiguous project in the
Western Athabasca Basin adjacent to multiple high-grade discovery zones. With a commitment
to responsible exploration and cutting -edge technology such as the use of the proprietary
Haystack TI technology, Stallion is positioned to play a key role in the future of clean energy.
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. For more information visit stallionuranium.com.
On Behalf of the Board of Stallion Uranium Corp.:
Matthew Schwab
CEO and Director
Corporate Office:
700 - 838 West Hastings Street,
Vancouver, British Columbia,
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V6C 0A6
T: 604-551-2360
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