News Releases

Vancouver, British Columbia, September 18, 2023 – Stallion Discoveries Corp. (the "Company" or "Stallion") (TSX-V: STUD; OTCQB: STLNF; FSE: HM4) is pleased to announce the results on key projects from the 5,200 line-kilometre VTEM^TM Plus survey completed last winter. The data was provided to Condor Consulting (“Condor”) to complete advanced processing of the VTEM data in combination with compiled historical data. The results include conductor picking, target prioritization and advanced magnetic processing of the new data and integrating the historical magnetic data. The Company is also outlining their fall and winter exploration plans for its Western Athabasca Basin uranium projects.

Stallion is very pleased with the VTEM results which demonstrate multiple areas that are responding similarly to the F3 Uranium’s JR zone and Uranium Energy Corporation’s Shea Creek Deposits. The regional electromagnetic (“EM”) survey successfully identified several prospective areas across Stallion’s projects with significant discovery potential. The EM anomalies identified by Condor will be followed up on with a ground EM survey this fall. Along with the EM data, the advanced processing of the magnetic data identified multiple structural complexities, as well as coincident magnetic lows, which have been known to represent uranium alteration. The Company will begin delineating these areas and advancing them for Stallion’s maiden drill program.

Four target zones have been identified to be followed up with exploration this fall and winter. The projects are untested with drilling and have the potential opportunity to host undiscovered uranium corridors. These additional targeted surveys will give Stallion the best opportunity to intersect uranium mineralization with drilling in the winter. In addition, Stallion plans to complete a regional inductive passive EM survey over the Stallion / Atha JV projects looking to extend existing conductive corridors onto this new frontier of exploration in the Western Athabasca.

“Identifying these several highly prospective target areas across Stallion’s large land package gives us a strong opportunity to discover the next significant uranium deposit in the basin,” stated Drew Zimmerman, Chief Executive Officer. “Historically, our land package was largely overlooked but with the new mining methods and technologies continuing to be developed, our projects are now becoming extremely relevant for future uranium exploration. As the uranium market continues to strengthen, tied to ongoing concerns over future uranium supply, we believe that this market provides the right conditions for uranium exploration at the scale Stallion that has planned for the coming year. As a team we are incredibly excited about what lies ahead in the coming months.”

Fall/Winter Exploration Plan Highlights

Phase 1

• Ground Time Domain Electromagnetic (“TDEM”) survey covering 142 line-kms over the Coffer Project.
• Complete a 5,500 line-km regional inductive passive EM survey over Atha Energy JV Projects (Figure 4).

Phase 2

• Diamond drilling totalling 3,000 metres on the Coffer Project.
• Diamond drilling totalling 1,500 metres on the Gunter Lake Project.

Darren Slugoski, Vice President Exploration Canada commented “Review of the data has highlighted some highly prospective areas to be targeted with further exploration. The ground geophysical surveys expected to be completed this fall will move our projects forward with drill ready targets. We are excited to be rapidly moving towards the drilling phase of our exploration plan this winter as we systematically test our targets. Additionally, our regional geophysical program on the Stallion / Atha JV projects will continue to define new exploration corridors and push forward a new frontier of exploration in the Western Athabasca.”   

Exploration Plan

The company is planning on completing a 2-phase exploration program over fall 2023 and winter 2024. Phase 1 exploration will consist of a 142 line-km ground TDEM survey over the Appaloosa, Mustang, and Clydesdale target areas. The survey is planned to be completed this fall in October and November. The results will significantly increase the resolutions of the conductors, thus increasing the targeting probabilities of intersecting mineralization and alteration. In conjunction with the ground TDEM survey, a regional airborne passive EM survey will be completed on the Stallion / Atha JV Project. The survey will cover over 2,200 km² of Stallion’s new frontier in the Western Athabasca and consists of over 5,500 line kms, giving the company pivotal data over the underexplored project.

Following the ground EM survey, Phase 2 will consist of a 3,000 metre winter drilling program on the Coffer project and 1,500 metre drill program at the Gunter Lake Project. The objective will be to test the EM anomalies on the Appaloosa, Mustang, and Coyote targets. The drilling phase will commence once ground TDEM results have be completed and interpreted. The Company will be utilizing gamma probe and borehole EM testing of the drill holes for additional information.

Target Areas

Appaloosa Target – Coffer Project

• The Appaloosa Target hosts a ~3km long conductor (Figure 1).
• The conductor is hosted in a gravity (Saskatchewan Assessment Report file 74K-0020) and coincident magnetic low, which is known to correlation to uranium alteration.
• The conductor occurs sub-parallel to UEC’s Saskatoon Lake conductor, which hosts the Shea Creek Project.
• Tensor Magnetotelluric Survey completed in 2008 by Orano Canada also identified the anomaly in 2008 (Saskatchewan Assessment Report file 74K03-0017).

Clydesdale Target – Coffer Project

• Complex structures identified in a UTEM 3 (Saskatchewan Assessment Report file 74K03-0022) and Combined Moving Loop Survey and Tensor Magnetotelluric Survey (Saskatchewan Assessment Report file 74K03-0017) (Figure 1).
• Interpreted to be large conductive package hosting multiple conductive plates.

Mustang Target – Coffer Project

• Geologically complex, situated in a narrow magnetic low between edge of the Beatty River fault and the basement ridge (Figure 2).
• Situated proximal to the Clearwater Domain which is believed to contribute to uranium mineralization in the Western Athabasca basin.

Coyote Target – Gunter Lake Project

• The Coyote Target occurs on the most eastern block of the Gunter Lake project hosting one conductor, which has ~5km metres of strike length (Figure 3).
• The conductor occurs as an East-West trending anomaly which cuts across the eastern claim block and continuous onto the Stallion / Atha JV project.

Qualifying Statement:

The foregoing scientific and technical disclosures for Stallion Discoveries 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 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 or contact: 

Lisa Stewart

Investor Relations

(604) 341-8177 

lstewart@stalliondiscoveries.com

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.

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.