Stallion Discoveries Corp. (TSX-V: STUD) (OTCQB: STLNF) (FSE: HM40) is pleased to announce that, further to its news release dated September 25, 2023 and September 27, 2023, it has closed a non-brokered private placement offering for total gross proceeds of $3,303,508.24. Red Cloud Securities Inc. acted as a finder under the Offering.

The Company has allotted and issued 9,577,118 Flow-Through Units of the Company at a price of $0.24 per FT Unit and 5,025,000 Non-Flow Through Units of the Company 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) and one-half of one common share purchase warrant. Each Unit consists of one common share of the Company and one-half of one Warrant. Each Warrant entitles the holder to purchase one common share of the Company 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 $188,279.58 and issued 814,832 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 though the issuance of 300,000 Units. All securities issued pursuant to the Offering will be subject to a hold period expiring February 11, 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) 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.

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.