VANCOUVER, British Columbia, June 03, 2024 (GLOBE NEWSWIRE) -- Stallion Uranium Corp. (the "Company" or "Stallion") (TSXV:STUD, OTCQB:STLNF, FSE: HM40)) is pleased to announce that, further to its news release dated February 13, 2024, the Company has closed the purchase and sale agreement dated February 12, 2024 (the "Agreement"), under which the Company has sold Glorious Creation Limited ("Glorious") 100% interest in its three Eastern Basin Projects, comprising seven (7) mineral claims totalling approximately 10,874 hectares (26,870 acres) located in the Province of Saskatchewan (the "Property"). " All three projects are located in the heart of the world-renowned Eastern Athabasca Basin and hold potential for a high-grade discovery. The closing of this sale will bring exploration programs to these projects, and Stallion is aligned to benefit from that exploration success," stated Drew Zimmerman CEO. "Our technical and geological team will be working with Glorious to manage the exploration efforts, but the sale allows for Stallion to remain focused on our targets in the southwestern Athabasca Basin, including our Appaloosa target that saw great success on our maiden drill program, moving the company towards a discovery." Pursuant to the Agreement, Glorious shall acquire a 100% interest in the Property for the following consideration to the Company: concurrently with the signing the Agreement, a cash payment of $100,000.00 (the "Deposit"), which one half of the Deposit ($50,000) will be refundable by the Company to Glorious should Glorious does not obtain approval from the Canadian Securities Exchange ("CSE"); on the date of the Closing (the "Closing Date"), a cash payment of $300,000; an aggregate of 2,500,000 common shares of Glorious (each, a "Share") to be issued to the Company as follows: 500,000 Shares on the date which is six (6) months following the Closing Date, 500,000 Shares on the date which is twelve (12) months following the Closing Date, 500,000 Shares on the date which is eighteen (18) months following the Closing Date, and 1,000,000 Shares on the date which is twenty-four (24) months following the Closing Date. The Company shall retain a royalty of three percent (3%) of net smelter returns from minerals mined and removed from the Property, of which ...