Stallion Uranium Announces Strategic Technical Partnership with Axiom Exploration Group and Corporate Update

VANCOUVER, British Columbia, Oct. 30, 2026 (GLOBE NEWSWIRE) -- Stallion Uranium Corp. (the “Company” or “Stallion”) (TSX-V: STUD; OTCQB: STLNF; FSE: B76) is pleased to announce a series of strategic initiatives and leadership changes designed to position the Company for accelerated technical progress and discovery potential across its flagship Moonlite Project and broader portfolio in Saskatchewan’s prolific Athabasca Basin. These steps include the execution of a Master Services Agreement with Axiom Exploration Group Ltd. (“Axiom”), an amendment to its option agreement with Atha Energy Corp. (“Atha”) (TSX-V: SASK) that sets a path for the two companies to advance the optioned Moonlite Project ground as equal 50/50 joint venture partners and the appointment of experienced leaders to guide the Company into its next phase of growth.

These initiatives reflect the Board’s commitment to assembling a strong technical and leadership platform capable of executing a disciplined, well-supported exploration program in one of the world’s premier uranium districts. Stallion is well-positioned to build on the momentum generated by its 2026 drilling and geophysical work as it moves forward with an enhanced technical operational structure.

Doug Engdahl, P.Geo., President & CEO of Axiom Exploration Group, stated: “We are excited to formalize our relationship with Stallion Uranium and support the advancement of its high-quality Athabasca Basin portfolio. The combination of Stallion’s strategic land position, the ongoing partnership with Atha Energy, and the technical capabilities Axiom brings positions this collaboration for meaningful discovery potential. We look forward to delivering rigorous, results-oriented exploration that creates value for all stakeholders.”

Phase II will build directly on the geological, structural and radiometric information generated during the first phase of drilling and will continue testing priority areas along the Coyote corridor.

Master Services Agreement with Axiom Exploration Group
Stallion has entered into a Master Services Agreement with Axiom Exploration Group Ltd., a privately held, employee-owned technical firm specializing in geological, geophysical, environmental, remote sensing, engineering, and management consulting. Under the agreement, Axiom will provide technical, geological, geophysical, environmental, and related advisory, consulting, personnel, and equipment services in connection with Stallion’s exploration activities.

Key personnel made available under the agreement include Senior Technical Advisor Doug Engdahl, P.Geo. (President & CEO of Axiom), VP of Exploration Brent Jellicoe, P.Geo., Pri.Sci.Nat., and additional specialists in geology, GIS, and geophysics. Mr. Jellicoe, a highly accredited geologist with more than 34 years of global mineral exploration and consulting experience (including diamonds, rare earth elements, gold, lithium, and uranium), brings extensive expertise in NI 43-101 and JORC-compliant technical reporting, program management, and due diligence across Canada, Africa, Australia, and beyond.

Axiom’s involvement is expected to enhance technical rigor, operational efficiency, and discovery-oriented targeting as Stallion advances its Athabasca programs.

The Company remains focused on the ongoing 2026 program at Coyote, where early drilling has delivered encouraging results that have already informed program expansion. Systematic testing of priority targets continues, guided by integrated geophysics, structural interpretation, and the drilling data generated to date.

Building on the extensive exploration work completed to date, Stallion Uranium is advancing a systematic, data-driven exploration strategy designed to refine existing targets and unlock additional discovery opportunities across its highly prospective uranium portfolio. Incorporating results from the Company's recent drilling programs, Stallion will recalibrate and enhance its geophysical models to improve the interpretation of subsurface structures and potential uranium mineralization controls.

This work will be complemented by a series of targeted geophysical surveys, geochemical data collection, and integrated geological and geophysical modelling to further refine the Company's exploration framework. These initiatives will support and augment the ongoing drill campaign, strengthen the technical understanding of priority exploration corridors, and generate a pipeline of additional high-priority, drill-ready targets, positioning Stallion to systematically advance its exploration portfolio and maximize its potential for new uranium discoveries.

Michelle Roth, Interim CEO of Stallion, commented: “Axiom brings an accomplished team of geologists and geophysicists to Stallion, and with Atha supporting them in an advisory role, we have the technical depth to advance our exploration efficiently and make every dollar count for shareholders. I’m excited to help guide the Company through this transition period and look forward to working with Doug, Brent and the Axiom team as they move our programs forward.”

Continued Partnership with Atha Energy and Technical Advisory Role
Stallion and Atha Energy will continue to work collaboratively on the option agreement ground within the southwestern Athabasca Basin, including the Moonlite Project and its high-priority Coyote Target. Atha maintains one of the largest cumulative exploration packages in the Athabasca Basin, and will serve as technical advisor to Axiom. This arrangement leverages Atha’s deep uranium expertise and technical bench strength to support data integration, targeting, and program execution while preserving the productive partnership between Stallion and Atha as they move toward forming a joint venture.

Leadership Transitions
The Board of Directors announces the following management changes:

• Matthew Schwab will step down as Chief Executive Officer. The Board thanks Mr. Schwab for his contributions to the Company, including his role in advancing the technical understanding of the Moonlite Project and the Coyote Target.
• Michelle Roth has been appointed Interim Chief Executive Officer, effective immediately. Ms. Roth is an entrepreneur and business leader who founded Roth Investor Relations in 1987. Over 35 years she advised mining clients ranging from producers to developers and explorers with assets across North America, Australia, Africa, Europe, and South America, covering commodities including gold, silver, platinum, copper, diamond, nickel, and ferrochrome. She currently serves as a Non-Executive Director and Audit Chair of Velocity Minerals Ltd. (TSX-V: VLC) and on its Compensation, Nominating, and Governance Committees, and as a Non-Executive Director of Lac Gold Limited (ASX: LAC, previously Ardiden Limited), where she previously served as Chairperson prior to the merger. She has also served as Chairperson of Maple Gold Mines Ltd. (TSX-V: MGM) and Chair of its Audit and Nominating and Governance Committees. Ms. Roth holds an MBA in Finance from Fordham University and a BA (Hons) in Political Science from the University at Albany. The Board is confident that her extensive capital-markets, governance, and mining-industry experience will provide strong leadership as Stallion executes its exploration strategy.
• Darren Slugoski has stepped down from his position as Vice President of Exploration of the Company, effective immediately. The Board thanks Mr. Slugoski for his contributions to the Company's exploration programs in the Athabasca Basin.
• Paulo Santos will transition from his role as Chief Financial Officer to focus full-time on his responsibilities as CFO of StrikePoint Gold Inc. The Board thanks Mr. Santos for his dedicated service and contributions to Stallion’s financial reporting, treasury, and compliance functions.
• The Company is pleased to welcome Xavier Wenzel, CPA, CA, as Chief Financial Officer. Mr. Wenzel brings more than 25 years of finance and public accounting experience, with extensive senior roles in the mining and resource sector, including current and former CFO positions with companies such as Chakana Copper Corp., Pure Energy Minerals Ltd., Empress Royalty Corp., and NuLegacy Gold Corporation. As a principal at Fehr & Associates and a member of the Chartered Professional Accountants of British Columbia, he has deep expertise in financial reporting, regulatory compliance, and corporate finance under IFRS and US GAAP.
  

Paulo Santos, outgoing CFO, commented, “I am pleased to recommend Xavier Wenzel for the role of CFO. Having worked closely with him in the past within the mining finance community, I am confident he will provide excellent continuity and stewardship as Stallion advances its programs.”

Amended Option Agreement with Atha Energy
Stallion and Atha have entered into an amending agreement dated effective October 29, 2026 (the “Amendment”) to their option agreement dated effective July 18, 2023 (the “Option Agreement”), under which Stallion holds the option to earn a 70% interest in certain Saskatchewan mining claims. Under the Amendment, Stallion’s option has been reduced to a 50% retained interest. In addition, Stallion may receive a $2,500,000 payment from Atha if a material discovery is been made on the claims that are the subject of the Option Agreement. The conditions Stallion must meet to exercise its option, including the required exploration expenditures, are unchanged.

Grant of Stock Options
In connection with her appointment, Ms. Roth has been granted incentive stock options to purchase an aggregate of 200,000 common shares of the Company (each an “Option”) pursuant to the Company's stock option plan, at an exercise price of $0.13 per share. The Options have a term of eighteen (18) months from the date of grant and vest immediately. The grant of Options remains subject to approval of the TSX Venture Exchange.

About Stallion Uranium
Stallion Uranium is a uranium exploration company focused on its significant land package in the Athabasca Basin, Saskatchewan, including the Moonlite Project (encompassing both 100%-owned claims and claims optioned from Atha Energy). The Company is advancing multiple high-priority targets, including the Coyote corridor, with the goal of discovering high-grade uranium mineralization to support the future of clean nuclear energy.

About Axiom Exploration Group Ltd.
Axiom Exploration Group Ltd. is a privately held, employee-owned technical firm specializing in geological, environmental, geophysical, remote sensing, engineering, and management consulting services for the mineral exploration sector.

About Atha Energy Corp.
Atha Energy Corp. is a uranium exploration company with a large land position in the Athabasca Basin and advanced projects elsewhere in Canada.

For more information, please contact:

Michelle Roth
Interim CEO
Stallion Uranium Corp.
Email: info@stallionuranium.com
Website: www.stallionuranium.com

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.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This news release contains "forward-looking statements" and "forward-looking information" within the meaning of applicable Canadian securities legislation (collectively, "forward-looking statements"), and all statements in this news release other than statements of historical fact are forward-looking statements, including, but not limited to, statements relating to: the execution and expected benefits of the Master Services Agreement with Axiom Exploration Group Ltd. and the amended option agreement with Atha Energy Corp., including the potential path to an equal 50/50 joint venture on the Moonlite Project; Atha's right (but not obligation) to make a cash payment of $2,500,000 to Stallion upon the occurrence of a material discovery, and the anticipated use of any such proceeds to fund exploration and for general working capital; the effect of the Acquisition Payment on the parties' respective interests in the Property, including Stallion's earn-in reducing to 50% and Atha's retained interest increasing to 50%; the governance and operational structure of the contemplated joint venture, the expected continuation and expansion of the 2026 drill program at the Coyote Target; and the Amendment's anticipated acceptance by the TSX Venture Exchange; all of which are based on the beliefs, estimates, and opinions of Stallion's management on the date such statements are made and are subject to a number of known and unknown risks, uncertainties, and other factors that could cause actual results, performance, or achievements to differ materially from those expressed or implied by such statements, including, without limitation: risks associated with the formation and operation of the contemplated joint venture, including disputes between joint venture partners; uncertainty that the TSX Venture Exchange will accept the Amendment on the terms described or at all; exploration risks, including the risk that drilling, geophysical, or geochemical programs do not identify economic uranium mineralization; general risks associated with mineral exploration, including unpredictable results, increased costs, and regulatory requirements; risks related to changes in uranium commodity prices; risks related to the ability to obtain required financing for exploration activities; and general economic, market, and business conditions; and there can be no assurance that such forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements, and accordingly readers should not place undue reliance on forward-looking statements, and Stallion does not undertake any obligation to update forward-looking statements if circumstances or management's estimates or opinions should change, except as required by applicable securities laws, and the forward-looking statements contained in this news release are expressly qualified by this cautionary note.