Standard Uranium Announces Board Update: Welcomes Mike Young and Zoya Shashkova as Directors

Rhea-AI Summary

Standard Uranium Ltd. (TSX-V: STND, OTCQB: STTDF) announces the appointment of Mike Young and Zoya Shashkova as independent directors, enhancing its Board's expertise. Young, an experienced mining executive, previously led Vimy Resources, while Shashkova brings over 20 years in finance and mining. The Company expresses gratitude to departing director Garrett Ainsworth for his contributions and has granted an extension on his stock options. Standard Uranium focuses on exploration in Saskatchewan’s Athabasca Basin, specifically the Davidson River Project, which holds significant potential for high-grade uranium deposits.

Positive

• Appointment of experienced directors Mike Young and Zoya Shashkova, enhancing Board capabilities.
• Mike Young has a proven track record in resource development and capital markets.
• Zoya Shashkova brings extensive financial acumen and industry knowledge.

Negative

• Resignation of Garrett Ainsworth may impact the continuity of leadership.

VANCOUVER, British Columbia, Nov. 17, 2021 (GLOBE NEWSWIRE) -- Standard Uranium Ltd. (“Standard Uranium” or the “Company”) (TSX-V: STND) (OTCQB: STTDF) (Frankfurt: FWB:9SU) is pleased to announce that Mike Young and Zoya Shashkova will be joining the board of directors of the Company (the “Board”) as independent directors, effective immediately.

Mr. Young is an experienced mining executive and resource development geologist with strong leadership in team building, feasibility studies, managing joint ventures, execution of mine development and management of mining operations. He was recently the Managing Director and CEO of Vimy Resources, a uranium development company. Mr. Young was instrumental in recapitalizing and rebranding Vimy Resources and led his team to grow the resource base of the Mulga Rock Project where a definitive feasibility study was delivered on time and on budget. Mike holds a Bachelor of Science in Geology from Queen’s University in Kingston, Ontario.

Jon Bey, President and CEO stated: “It gives me great pleasure to add Mike to our Board. He is known across the uranium industry for his work building Vimy Resources and for his strong industry connections. Not only does he bring his vast experience in the capital markets, but he also adds his in-depth knowledge as a uranium resource geologist. Mike is going to make a great addition to our team at Standard Uranium and we look forward to getting him back to Uranium City, Saskatchewan, where he started his career as a geologist.”

Ms. Shashkova has over two decades of consulting and finance executive experience, spanning audit and consulting, tax structuring, risk management, reporting, disclosure and mining finance. She is currently the CFO of EnviroGold Global, a clean technology company engaged in selective reprocessing of mining tailings. Her previous executive roles include Treasurer for Torex Gold Resources, a mid-tier Canadian gold producer, where she raised over $1B in debt capital to support ongoing operations as well as long-term strategic initiatives; CFO for UraniumOne’s operations in Central Asia, where she provided leadership in all areas of business and financial management, including strategic planning, performance measurement, debt financing, accounting, international tax structuring and risk management; as well as senior leadership positions with Deloitte and E&Y. During her tenure with UraniumOne, Ms. Shashkova also served on the boards of operating joint ventures as the Audit Committee Chair. Ms. Shashkova holds a MSc in Biology and Chemistry, an MBA in Banking and Finance, is a Certified Public Accountant (CPA, US, Maine) and is an ICD.D certified director, Institute of Corporate Directors. 

Jon Bey, President and CEO stated: “As we look to the future of Standard Uranium, we are building our Board and executive team for where this company is headed. Zoya has a remarkable background and unique set of skills. The combination of her financial acumen and her depth of understanding of the uranium market, gives me great confidence she will add considerable strength to our team.”

The Company also announces the resignation of Garrett Ainsworth. The Company thanks Garrett for his substantial contribution to the Standard Uranium team. In accordance with the Company’s stock option plan, the Board has granted an extension to Mr. Ainsworth’s stock options such that all stock options shall immediately vest and be exercisable until November 14, 2022. All other terms of such stock options shall remain the same.

“Garrett has been an integral part of Standard Uranium from our early days in 2018. He has provided great leadership for our technical team, a strong voice on our Board and he will be missed. We have now built an extremely competent technical team internally and the timing works well for Garrett to move onward and focus on his other endeavors,” stated Jon Bey, President and CEO.

About Standard Uranium (TSX-V: STND)

We find the fuel to power a clean energy future.

Standard Uranium is a mineral resource exploration company based in Vancouver, British Columbia. Since its establishment, Standard Uranium has focused on the identification and development of prospective exploration stage uranium projects in the Athabasca Basin in Saskatchewan, Canada. Standard Uranium’s Davidson River Project, in the southwest part of the Athabasca Basin, Saskatchewan, is comprised of 21 mineral claims over 25,886 hectares. The Davidson River Project is highly prospective for basement hosted uranium deposits yet remains relatively untested by drilling despite its location along trend from recent high-grade uranium discoveries. A copy of the NI 43-101 technical report that summarizes the exploration on the Davidson River Project is available for review under Standard Uranium’s SEDAR profile (www.sedar.com).

For further information contact:

Jon Bey, President, Chief Executive Officer, and Chairman
550 Denman Street, Suite 200
Vancouver, BC V6G 3H1
Tel: 1 (306) 850-6699
E-mail: info@standarduranium.ca

Cautionary Statement Regarding Forward-Looking Statements

This news release contains “forward-looking statements” or “forward-looking information” (collectively, “forward-looking statements”) within the meaning of applicable securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as of the date of this news release. Forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those expressed or implied by forward-looking statements contained herein. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are necessarily based upon a number of factors and assumptions that, if untrue, could cause actual events or results to differ from those expressed or implied by forward-looking statements contained herein. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement. Any forward-looking statements and the assumptions made with respect thereto are made as of the date of this news release and, accordingly, are subject to change after such date. The Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

Neither TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.

FAQ

Who are the new directors appointed at Standard Uranium (STTDF)?

Mike Young and Zoya Shashkova have been appointed as independent directors.

What experience does Mike Young bring to Standard Uranium (STTDF)?

Mike Young is an experienced mining executive with a background in resource development and capital markets.

What is Zoya Shashkova's background in finance?

Zoya Shashkova has over 20 years of experience in finance, including roles in mining finance and risk management.

What is the significance of the Davidson River Project for Standard Uranium (STTDF)?

The Davidson River Project is highly prospective for uranium deposits and is strategically located in the Athabasca Basin.

What changes were made to Garrett Ainsworth's stock options after his resignation?

Garrett Ainsworth's stock options have been extended to vest and be exercisable until November 14, 2022.