Four New Priority Targets Identified in Athabasca Uranium Project Survey

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1. Ownership and Share Structure Information

The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.

Stallion Uranium Corp. (STUD:TSX; STLNF:OTCQB; FE0; FSE) reported that it has completed the interpretation of its Versatile Time Domain Electromagnetic (VTEM) Plus airborne electromagnetic survey and magnetic interpretation over the Stone Island Target at its Moonlite Project in the Southwestern Athabasca Basin. The company said it integrated the VTEM dataset with magnetic tilt derivative data to define multiple priority conductive trends and structurally controlled target areas for follow-up exploration.

The VTEM Plus survey, completed by Geotech Ltd., consisted of two grids located south of the company's flagship Coyote Target. According to the company, the survey was designed to refine conductive structural corridors and identify additional drill targets across the broader Moonlite property.

Matthew Schwab, CEO of Stallion, said in a company news release, "We are now clearly defining multiple priority target areas at the Stone Island Target through the integration of VTEM and magnetic data. The identification of several discrete targets significantly expands our exploration pipeline and reinforces the broader potential of the Moonlite Project within the Southwestern Athabasca Basin."

The company said integrated VTEM Plus and magnetic tilt interpretation identified four priority target areas, designated A through D, at Stone Island. Strong to moderate Tau responses outlined graphitic basement conductors, while multiple parallel to sub-parallel conductive trends defined a broad structural corridor. Magnetic tilt derivative data highlighted structural breaks, offsets, and cross-cutting lineaments that enhanced the interpretation of fault-controlled architecture. The priority targets occur along conductor margins and zones of structural disruption.

Target A is located along the western portion of the northeast survey block and corresponds to a moderate to high Tau response situated along the margin of a primary conductor. Target B, in the northwestern portion of the northeast block, is associated with a strong conductive response and increased structural complexity, including possible conductor offsets. Target C, in the southeastern portion of the northeast block, is defined by a coherent conductive trend with localized complexity that the company interprets as a continuation of the broader structural corridor. Target D, on the eastern margin of the southwest survey block, represents a distinct conductive anomaly with localized structural complexity.

Darren Slugoski, Vice President of Exploration, said in the company news release, "The VTEM Plus data has outlined a strong conductive corridor with multiple parallel trends, and magnetic tilt interpretation has highlighted the structural controls on these conductors. Importantly, our first completed drill hole at Coyote intersected graphitic faulting and significant alteration, providing strong validation of our geophysical targeting approach. We are now focused on refining these targets through modeling and advancing them toward systematic drill testing."

The company said plate modeling and inversion of the VTEM dataset are underway to further constrain conductor geometry, depth, and continuity. Those results will be used to refine drill targeting and guide future exploration programs on the Moonlite Project.

Separately, Stallion announced it has engaged ICP Securities Inc. to provide automated market-making services using its proprietary ICP Premium algorithm in accordance with TSX Venture Exchange policies and applicable legislation. The agreement began July 1, 2026, carries a monthly fee of CA$7,500 plus applicable taxes, has an initial four-month term with automatic monthly renewals unless terminated with 30 days' notice, and contains no performance factors, stock options, or other compensation. The company said ICP is an arm's length party and will be responsible for the costs it incurs in buying and selling the company's shares.

Uranium Sector Continues to Reflect Diverging Fundamentals

According to a July 7 report from Nuclear News, the U.S. Energy Information Administration reported that U.S. production of uranium concentrate totaled 1,039,075 pounds during the first quarter, a 0.4% decrease from the fourth quarter of 2025. However, the publication noted that first-quarter 2026 production represented "the highest first-quarter production amount recorded since 2015."

The report also stated that uranium spot prices remained relatively stable, with Cameco reporting an end-of-June spot price of US$85.00 per pound. Citing Trading Economics, Nuclear News wrote that uranium futures had "traded within a narrow range around US$85 since early April" after retreating from levels above US$101 in late January. Trading Economics added that "yellowcake prices were lifted by geopolitical tension, driving power markets in major economies to be increasingly volatile, sparking interest in nuclear power by governments and power-hungry AI hyperscalers that develop data centers."

An article published July 8 by The Australian Financial Review examined international demand for uranium, reporting that Australia and India were expected to announce a uranium supply agreement during Indian Prime Minister Narendra Modi's visit to Australia. The publication wrote that India was seeking to expand its nuclear generation capacity from eight gigawatts to 100 gigawatts by 2047, with electricity demand supported by growth in artificial intelligence and data centers. 

Writing on July 10, Mill Chart reported that financial performance across the nuclear energy value chain had become increasingly differentiated. The publication stated that "the financial performance across these segments is increasingly diverging," noting that nuclear power operators had benefited from rising electricity demand and favorable power pricing, while upstream uranium miners had continued to face "extended project timelines and heavy capital requirements." The report added that "this gap between market narrative and near-term earnings delivery is defining the current investment landscape within the sector," with financial results varying across different parts of the nuclear fuel and power generation industry.

Paydirt Prospector Maintained Buy Rating While Highlighting Ongoing Coyote Drill Program

According to the July 9 Paydirt Prospector Mid-Summer Full Portfolio Update, Jeff Clark and Daniel Flynn maintained a Buy rating on Stallion Uranium. The third-party source did not disclose a formal target price.

Clark and Flynn described Stallion as "a high-risk speculation, a pre-discovery play," adding, "But it could also move like Usain Bolt if the drill bit delivers."

The newsletter stated that the company "is testing Coyote for a big basement-hosted uranium system in the Athabasca Basin for the first time." The authors also wrote that it was "drawing comparisons to NexGen's Arrow deposit, with early drilling already turning up elevated radioactivity and promising structural signs."

Clark and Flynn cautioned, "That's not a discovery yet. Assays decide that." They also wrote that "Stallion has already expanded the program, and the stock bounced back quickly after falling on the last update." The report concluded, "This is an overweight position for Jeff and I."

Exploration Activities Continue Across Priority Targets

According to the company's March 2026 corporate presentation, Stallion's exploration program is focused on prioritizing targets across its land package using geophysical surveys, data compilation, modeling, structural interpretation, drilling, and sampling. The presentation states that the company is focusing on its most prospective areas, identified through its exploration model from more than 600 kilometers of conductive trends. Pending geophysical programs are intended to upgrade targets, while drilling is planned through Q1 to Q3 2026, with all targets fully permitted.

The presentation also outlines continued refinement of the Coyote Corridor, where a completed 3D ground gravity inversion identified significant vertically continuous anomalies. It states that the main target is one of the strongest ground gravity anomalies in the Athabasca Basin and identifies five discrete targets along the 8.5-kilometer Coyote trend with coinciding structural anomalies and alteration signatures. The presentation notes that the area is planned for drilling of up to 15 holes across the anomalous zone. 

In addition, the presentation describes the Coyote Corridor as containing complex structural features identified through geophysical surveys, with conductors occurring as an east-west trending anomaly intersected by multiple interpreted structures. It also notes that the corridor was initially identified through the company's VTEM Plus survey in 2023 and has an estimated depth to unconformity of 450 meters.

Ownership and Share Structure¹

Less than 10% of the company is owned by insiders and management, and there are no institutional holders. Strategic investor Matt Mason, a founder of Hathor, has about 30%, the company said.

The company's market capitalization is approximately CA$37.53 million with about 150.13 million shares outstanding on a fully diluted basis. The 52‑week range is CA$0.19 to CA$0.53. 

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