Cosa Resources expands MLN, Darby JVs with Denison

Executive Summary

• Cosa Resources Corp. has expanded its uranium exploration portfolio in the eastern Athabasca Basin by acquiring six new claims totaling 2,669 hectares across its Murphy Lake North (MLN), Darby, and Orion projects.
• The expansion strengthens the company's joint ventures with Denison Mines Corp. (Darby and MLN) and its 100% owned Orion project, securing areas with known conductive features, inferred extensions, and proximity to favorable drilling results.
• All claims were acquired for minimal cash consideration with no encumbrances, positioning the company to advance exploration activities, including planned drilling at Darby and MLN in 2026.

Key Details

• Total Expansion: Six claims totaling 2,669 hectares added across three projects.
• Acquisition Terms: All claims acquired for minimal cash consideration with no encumbrances or royalties.
• Darby Project (Joint Venture with Denison, 70/30):
  • Added two claims totaling 758 hectares.
  • Extends the northern border immediately south of the Tucker Lake uranium zone.
  • Covers the strike extension of the Delta trend (northeast of recent EM survey).
  • The 2011 survey defined the northeast-trending Delta conductor, which has not been drill-tested and is flagged for first-pass drilling as early as H2 2026.
  • ZTEM survey results suggest potential for an extension of the Echo trend.
• Murphy Lake North (MLN) Project (Joint Venture with Denison, 70/30):
  • Added three claims totaling 345 hectares.
  • Located south of the Cyclone trend.
  • Area covers ground where 2025 drilling intersected broad zones of sandstone alteration and structure above graphitic basement rocks over a strike length of two kilometers.
  • Primary 2026 objective is to follow up on these positive results.
  • Drilling intended to commence in Q1 2026, followed by project-wide DC-resistivity surveying ahead of an expanded summer drilling campaign.
• Orion Project (100% Owned):
  • Added one claim totaling 1,564 hectares.
  • Extends Orion to the southeast.
  • Covers a zone of enhanced basement-hosted conductivity near the edge of the conductivity model from 2025 ZTEM surveying.
  • Zone coincides with a historical conductor in a Saskatchewan government digital compilation and is located within a magnetic high, suggesting a favorable structural setting.
• Strategic Context:
  • Darby is located 10 km west of Cameco's Cigar Lake mine.
  • MLN is located 3 km east of IsoEnergy's Hurricane deposit.
  • Orion is located 5 km northwest of Darby and 29 km west of Cigar Lake.
  • Cosa is the operator of the Darby and MLN joint ventures.
  • Historical drilling at Darby demonstrates high prospectivity for uranium deposits characteristic of the eastern Athabasca basin, yet most strike length has not been effectively evaluated.
  • Cosa is currently undertaking its first diamond drilling program at Darby since 2009.
  • Drilling at MLN will follow up on 2025 results intersecting zones of structurally controlled alteration.

Notable Quotes

• "We are pleased to have expanded the Darby and Murphy Lake North joint ventures, as well as our underexplored and prospective Orion project. All claims were acquired at low cost with no royalties and capture the interpreted extensions of known conductive and/or mineralized trends and expand the projects proximal to positive drilling results. We remain committed to advancing exploration and target generation across our eastern Athabasca portfolio as the company is actively drilling the Darby JV, and winter drilling and ground-based resistivity surveying are planned to follow at MLN." — Justin Rodko, PGeo, Vice-President of Corporate Development