Standard Uranium Ltd (TSX-V:STND, OTCQB:STTDF, FRA:9SU0) has announced plans to expand the scope of its upcoming summer 2026 drill program at the Davidson River uranium project in Saskatchewan’s southwest Athabasca Basin, while also launching a private placement to raise up to C$4 million to help fund the work.
The company said proceeds from the financing are expected to support a larger drill campaign across the Warrior, Bronco and Thunderbird conductor corridors at the flagship property, including an increase in planned drilling metres and the use of two drill rigs operating simultaneously.
Standard Uranium said mobilization to the site is scheduled for May 31, with drilling expected to begin shortly afterward.
The campaign will mark the first drilling activity at Davidson River since 2022.
The company said all required drill permits have been secured and that it has signed an exploration agreement with the Clearwater River Dene Nation related to activities on traditional territory.
Davidson River spans more than 30,700 hectares and is located along regional structural trends associated with several uranium discoveries in the Athabasca Basin, including NexGen Energy’s Arrow deposit and Paladin Energy’s Triple R deposit.
Standard Uranium said drill targets were refined using data from what it described as the first ExoSphere Multiphysics surveys conducted in the southwest Athabasca Basin. The surveys, completed in partnership with Fleet Space Technologies, integrated ambient noise tomography, spectral ratio analysis and ground gravity data to generate three-dimensional models of basement structures and density anomalies.
According to the company, the survey results were combined with historical drilling data, electromagnetic conductors, gravity surveys and machine-learning targeting work completed by ALS GoldSpot to identify and prioritize drill-ready targets.
The Warrior corridor includes graphitic structural zones where previous drilling intersected elevated radioactivity and alteration. At Bronco, the company identified graphitic structural zones with clay-hematite alteration and reactivated shear zones, while Thunderbird has historically returned iron oxide alteration and elevated radioactivity.
In addition, Standard Uranium announced a non-brokered private placement consisting of units priced at C$0.10 each for gross proceeds of up to C$4 million.
Each unit will include one common share and one-half of one warrant. Each whole warrant will allow the holder to purchase an additional common share at C$0.15 for a period of 36 months following the closing of the offering.
The company said the warrants may be subject to accelerated expiry if the company’s shares trade at or above C$0.30 for 10 consecutive trading days.
Standard Uranium said the proceeds from the financing will be used for exploration at Davidson River and for general working capital purposes.