Cosa launches partner-funded airborne radiometric survey at Aurora, Athabasca Basin
Vancouver, British Columbia--(Newsfile Corp. - June 25, 2026) - Cosa Resources Corp. ( TSXV: COSA ) ( OTCQB: COSAF ) ( FSE: SSKU ) (" Cosa " or the " Company ") is pleased to announce the commencement of a property-wide airborne radiometric survey at the Aurora project (" Aurora " or the " Project "). Aurora is located in the southeastern Athabasca Basin approximately 16 kilometres east of Cameco's Key Lake Mill and historical Mine. The survey and supporting work are fully funded by Traction Uranium Corp. (" Traction ") ( CSE: TRAC ) ( OTCQB: TRCTF ) ( FSE: Z1K ) per the option agreement (the " Agreement ") between Cosa and Traction dated 10 February 2026.
Traction has the right to earn up to an 80% interest in the Aurora project by sole-funding $9.15 million in exploration expenditures and completing cash and share payments. Highlights Radiometric survey and supporting work are 100% funded by Traction Project-wide surveying to be flown at 50-metre line spacing with the objective of identifying radiometric anomalies potentially indicative of near-surface uranium mineralization Results to be used to guide a proposed 100% partner-funded fall drilling program at Aurora Andy Carmichael, VP Exploration of Cosa commented: "Aurora's proximity to infrastructure and the nearby Key Lake uranium mill and historical uranium mine make it an exciting project deserving of modern exploration. Given that sandstone cover at Aurora is thin to absent, when combined with geophysical work completed by Cosa in 2024 this partner-funded airborne radiometric survey has potential to generate compelling targets for a proposed Traction-funded fall drilling program." Radiometric Survey Surveying will be completed by Calgary-based Special Projects Inc. (" SPI "), an experienced airborne geophysical survey contractor with expertise in radiometric and magnetic surveying.
SPI's custom 16-detector focused gamma-ray spectrometer is designed to deliver high-resolution radiometric data capable of detecting subtle radioactive responses associated with mineralized boulders and outcrops. At Aurora, the survey will provide property-scale coverage at 50-metre line spacing with the objective of identifying and prioritizing high-quality targets for follow-up work. Surveying is expected to be completed in two weeks.
Next Steps Radiometric surveying will be followed by interpretation and integration with existing geophysical and drilling data. Results will be used to guide a proposed inaugural drill program at Aurora, tentatively scheduled to commence in early September. Drilling at Aurora is planned to follow completion of Cosa's ongoing drilling program at the Murphy Lake North joint venture , and planned summer drilling at the Darby joint venture .
About Aurora Aurora covers a 17-kilometre section of the southeastern rim of the Athabasca Basin located 16 kilometres east of Key Lake, the site of an operational uranium mill and past producing uranium mine, and 40 kilometres south of the GMZ (Figure 1). Sandstone cover is expected to be less than 100 metres thick in the northern third of Aurora and absent in the remainder. Though no diamond drilling has been completed on the Project since 1979, review of historical drill hole logs has identified several zones of hydrothermal alteration.
Airborne gravity gradient and Versatile Transient Electromagnetic (VTEM) surveying completed by Cosa in 2024 identified initial target areas at Aurora (Figure 2). Figure 1 - The Aurora Project Location To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/9865/302851_f9ead39944524b15_003full.jpg Figure 2 - The Aurora Project Target Areas To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/9865/302851_f9ead39944524b15_004full.jpg About Cosa Resources Corp. Cosa Resources is a Canadian uranium exploration company operating in northern Saskatchewan. The portfolio comprises roughly 237,000 ha across multiple underexplored 100% owned and Cosa-operated joint venture projects in the Athabasca Basin region, the majority of which reside within or adjacent to established uranium corridors.
In January of 2025, the Company entered a transformative strategic collaboration with Denison Mines (TSX: DML) (NYSE American: DNN) that has secured access to several additional highly prospective eastern Athabasca uranium exploration projects. As Cosa's largest shareholder, Denison gains exposure to Cosa's potential for exploration success and its pipeline of uranium projects. The Company's primary focus through the remainder of 2026 will be drilling at the Murphy Lake North and Darby projects in the eastern Athabasca Basin.
Drilling at Murphy Lake North will follow up uranium mineralization within an extensive zone of strong structure and hydrothermal alteration at the Cyclone trend. Drilling at Darby will follow up on intersections of anomalous geochemistry, structure, and zones of hydrothermal alteration from both winter 2026 drilling and historical drilling. Cosa's award-winning management team has a track record of success in Saskatchewan.
In 2022, members of the Cosa team were awarded the AME Colin Spence Award for the discovery of the Hurricane uranium deposit. Cosa personnel led teams or had integral roles in the discovery of Denison's Gryphon deposit and held key roles in the founding of both NexGen and IsoEnergy. About Traction Uranium Corp. Traction Uranium Corp. (CSE: TRAC) (OTCQB: TRCTF) (FSE: Z1K) is in the business of mineral exploration and the development of discovery prospects in Canada, including its uranium project in the world-renowned Athabasca Region.
Technical Disclosure Historical drilling results from Aurora are available within the Saskatchewan Mineral Assessment Database references 74H-0024, 74H07-0017, and 74H07-0031. Confirmatory relogging of these drill holes has not been completed as the core storage locations are unknown or have been destroyed by wildfire. Qualified Person The Company's disclosure of technical or scientific information in this press release has been reviewed and approved by Andy Carmichael, P.Geo., Vice President, Exploration for Cosa.
Mr. Carmichael is a Qualified Person as defined under the terms of National Instrument 43-101. This news release refers to neighbouring properties in which the Company has no interest. Mineralization on those neighbouring properties does not necessarily indicate mineralization on the Company's properties.
Contact Keith Bodnarchuk, President and CEO info@cosaresources.ca +1 888-899-2672 (COSA) Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Cautionary Statements This press release contains forward-looking information within the meaning of Canadian securities laws (collectively "forward-looking statements"). Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, plans, postulate and similar expressions, or are those, which, by their nature, refer to future events.
All statements that are not statements of historical fact are forward-looking statements. These forward-looking statements or information may relate to anticipated exploration, development and/or expansion activities, including exploration of the Company's current Projects; the collaboration with Denison, including the Joint Venture, and the anticipated benefits thereof; and the outlook regarding Cosa's business plans and objectives. Such forward-looking information and statements are based on numerous assumptions, including among others, that the results of planned exploration activities are as anticipated, the cost of planned exploration activities are as anticipated, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms, that third party contractors, equipment and supplies and governmental and other approvals required to conduct Cosa's planned exploration activities will be available on reasonable terms and in a timely manner.
Although the assumptions made by Cosa in providing forward-looking information or making forward-looking statements are considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be accurate. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors and risks include, among others: Cosa may require additional financing from time to time in order to continue its operations which may not be available when needed or on acceptable terms and conditions acceptable; Cosa may not be able to maintain compliance with its contractual obligations with third parties; Cosa may not be able to maintain compliance with extensive government regulation applicable to its operations; domestic and foreign laws and regulations could adversely affect Cosa's business and results of operations; the stock markets have experienced volatility that often has been unrelated to the performance of companies and these fluctuations may adversely affect the price of Cosa's securities, regardless of its operating performance; the ongoing military conflict in Ukraine, and other risk factors set out in Cosa's public disclosure documents.
The forward-looking information contained in this news release represents the expectations of Cosa as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. Cosa does not undertake any obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
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