Stallion Uranium Recommences Phase II Drilling at Moonlite Project

Stallion Uranium resumes expanded drilling at Coyote with 2,165 metres left in 2026 program.

What the company is saying

Stallion Uranium Corp. (TSXV:STUD, OTCQB:STLNF, FSE:B76) is announcing the restart of diamond drilling at the Coyote target within its flagship Moonlite Project in the Athabasca Basin, Saskatchewan, under a joint venture with Atha Energy Corp. The release emphasizes that 4,585 metres of a now 6,750-metre 2026 drill program are complete, with 2,165 metres remaining for Phase II, which will target the highest-priority zones identified by integrating geological, structural, and radiometric data. CEO Matthew Schwab frames this as a data-driven, methodical expansion, highlighting improved geological understanding and confidence in the technical approach. The company details the technical process, including the use of SRK Consulting’s structural assessment, QA/QC protocols, and analytical procedures at the Saskatchewan Research Council Geoanalytical Laboratories. The tone is focused and operational, with forward-looking statements limited to ongoing evaluation and refinement of targets and a near-term update at the Schachter Catch the Energy Conference on October 17 in Calgary. Scientific and technical disclosures are validated by Darren Slugoski, P.Geo., VP Exploration, as Qualified Person under NI 43-101.

What the data suggests

The company has completed 4,585 metres out of a planned 6,750-metre drill program at Coyote, leaving 2,165 metres to be drilled in the current phase. The initial 2026 program was set at 4,000 metres, expanded to 5,500 metres, and then further to 6,750 metres as new geological and geophysical data warranted additional drilling. The current phase is described as the first systematic drill test of the Coyote target, with SRK Consulting’s structural analysis now incorporated into targeting. The technical process includes gamma-ray spectrometry, downhole gamma probing, and multi-element analysis at an accredited lab, with QA/QC procedures in place. No assay results, grades, widths, or resource estimates are disclosed, as the program is ongoing and results are pending. The company’s project area covers roughly 1,700 sq/km in the Athabasca Basin, and the technical disclosures are reviewed by a Qualified Person. The data shows steady operational progress and a methodical, iterative approach to exploration, but no economic or mineralisation outcomes are reported yet.

Analysis

The announcement provides a factual and detailed operational update on the ongoing 2026 drilling program at the Coyote target, including specific metres drilled, program expansions, and technical procedures. Most claims are realised and supported by disclosed operational data, such as metres completed and program expansions. Forward-looking statements are limited and relate to the completion of the current drilling phase and future updates, which are standard for exploration-stage companies. There is no exaggerated language or overstatement of potential outcomes; the tone is proportionate to the progress described. No economic, resource, or financial results are claimed, and the technical disclosures are reviewed by a Qualified Person under NI 43-101, lending credibility. The absence of financial or resource results is normal for this stage and does not constitute a deficiency.

Risk flags

• ●Operational risk remains high as the program is still in the data-gathering phase, with no mineralisation grades or widths reported; the value of the project depends on pending assay results.
• ●Disclosure risk exists because, while operational metrics are detailed, there is no information on costs, budgets, or funding, making it difficult to assess financial sustainability or capital efficiency.
• ●Execution risk is present in the expansion of the drill program from 4,000 to 6,750 metres, which increases capital requirements and could strain resources if results do not justify the added investment.

Bottom line

Stallion Uranium is methodically advancing its Coyote drilling program, having completed 4,585 of 6,750 planned metres and now focusing on high-priority targets with 2,165 metres left in the 2026 campaign. The company’s approach is data-driven, incorporating new geological and structural insights as drilling progresses, and all technical procedures are reviewed by a Qualified Person. No assay results or mineralisation grades have been released, so the investment case hinges on future drill outcomes and their potential to define a resource. The expansion of the drill program signals increased commitment and capital intensity, but also heightens execution and financial risks if results disappoint. Investors should watch for assay results and technical updates from Phase II, as these will determine whether the program delivers tangible value. The key takeaway is that operational progress is clear, but the ultimate value proposition remains unproven until drill results are disclosed.

Announcement summary

(TSXV:STUD, OTCQB:STLNF, FSE:B76) Stallion Uranium Corp. has recommenced diamond drilling at the Coyote target on its flagship Moonlite Project in the Athabasca Basin, Saskatchewan, as part of the southwestern Athabasca Basin Joint Venture with Atha Energy Corp. The company has completed approximately 4,585 metres of a planned 6,750-metre drilling program, leaving about 2,165 metres to be drilled in the current phase. Phase II drilling will focus on the highest-priority areas identified by Stallion’s technical team, integrating geological, structural, and radiometric data collected during Phase I. SRK Consulting has completed a regional-scale Structural Interpretation and Targeting Assessment to identify structural controls associated with uranium mineralization, which has been incorporated into Phase II targeting. The 2026 program marks the first systematic drill testing of the Coyote target and has improved Stallion’s understanding of the geology and structure of the corridor. The initial 2026 drilling program at Coyote was set at 4,000 metres, expanded first to 5,500 metres and then to approximately 6,750 metres as new geological and geophysical information became available. The expanded program has allowed continuous refinement of drill locations. The knowledge gained at Coyote is also being used to evaluate and prioritize additional targets across the broader Moonlite Project. Near-term activities at Moonlite include completing the remaining 2,165 metres of drilling, testing refined Phase II targets, ongoing geological logging, downhole gamma probing, sampling, and interpretation of drill core, and incorporating new results into the evolving geological and structural model. All core radioactivity is measured using an RS-125 Super-SPEC Handheld Gamma-Ray Spectrometer, and downhole radiometric surveying is conducted with a Mount Sopris QL40GR-1000 probe. Drill core samples are sent to the Saskatchewan Research Council Geoanalytical Laboratories in Saskatoon for multi-element analysis by ICP-MS and ICP-OES, with boron analyzed by fusion. Quality assurance and quality control procedures include the insertion of blanks, standard reference materials, and repeats at regular intervals. CEO Matthew Schwab will present an update on the company’s 2026 exploration activities at the Schachter Catch the Energy Conference in Calgary, Alberta, on October 17 at 11:45 a.m. MDT. The scientific and technical disclosures have been reviewed and approved by Darren Slugoski, P.Geo., VP Exploration, a Qualified Person as defined by National Instrument 43-101. Stallion Uranium is exploring roughly 1,700 sq/km in the Athabasca Basin, in partnership with Atha Energy, and holds a significant contiguous project in the western Athabasca Basin adjacent to multiple high-grade discovery zones.

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