Stallion Uranium Corp. (TSX-V: STUD) (OTCQB: STLNF) (FSE: FE0) is pleased to announce that, further to its news releases dated July 16, 2024, July 17, 2024 and July 29, 2024, it has closed a non-brokered private placement offering for total gross proceeds of $2,533,000.98.

The Company has allotted and issued 26,866,622 Flow-Through Units of the Company at a price of $0.09 per FT Unit and 1,353,000 Non-Flow Through Units of the Company at a price of $0.085 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 $0.12 for a period of 24 months.

In relation to the Offering, the Company has paid finder’s fees of $162,644.73 and issued 1,807,164 finder’s warrants to arm’s-length parties, entitling the holder to acquire one Share at a price of $0.12 per Share for a period of 24 months. All securities issued pursuant to the Offering will be subject to a hold period expiring December 1, 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, 2025. All Qualifying Expenditures will be renounced in favour of the subscribers of the FT Units effective December 31, 2024. 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 adopted in the Policy. The Company has relied on exemptions from the formal valuation and minority shareholder approval requirements 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 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, holds the largest contiguous project in the Southwestern 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 the Horse Heaven gold project in Idaho that neighbours a world class gold deposit, offering exposure to upside potential from district advancement with limited capital expenditures.