Traction Uranium options Aurora from Cosa Resources

Executive Summary

• Traction Uranium Corp. has entered into an option agreement with Cosa Resources Corp. to earn up to an 80% interest in the Aurora uranium project located in the southeastern Athabasca Basin, Northern Saskatchewan.
• The earn-in is structured over five phases, requiring Traction to solely finance exploration work and make specific cash and share payments.
• The Aurora project covers approximately 17 km of prospective strike near the Key Lake uranium mill, with historical data indicating hydrothermal alteration zones but no drilling since 1979.

Key Details

• Transaction Structure: Traction Uranium holds the right to earn up to an 80% interest in Cosa Resources Corp.'s Aurora uranium project.
• Earn-In Mechanism: The interest is earned through a combination of financing exploration work and completing a series of cash and share payments over five earn-in phases.
• Operatorship: Cosa acts as the operator during the earn-in period and is entitled to an operator fee. Traction may assume operatorship upon completion of Phase 4 (reaching 65% interest).
• Termination Clause: If Traction terminates the agreement prior to the completion of phases 1 and 2, all consideration paid is forfeited, and Cosa’s interest reverts to 100%.
• Share Hold Period: Any Traction shares issued to Cosa as part of option exercise payments are subject to a statutory hold period of four months and one day from the date of issuance, per Canadian securities laws.
• Project Location & Geology: The Aurora project spans ~17 km of strike along the southeastern margin of the Athabasca basin, approximately 16 km east of the Key Lake uranium mill. Sandstone cover is interpreted to be <100m thick in the northern portion and absent elsewhere.
• Historical Work: No diamond drilling has occurred since 1979. A review of historical drill logs identified multiple zones of hydrothermal alteration.
• Recent Surveys: In 2024, Cosa completed airborne gravity-gradient and VTEM surveys to outline initial target areas for follow-up exploration.
• Counterparty Context: Cosa Resources is a Canadian uranium exploration company with ~237,000 hectares in the Athabasca basin. In January 2025, Cosa entered a strategic collaboration with Denison Mines.

Notable Quotes

• Dr. Jared Suchan, CEO and Director of Traction Uranium, is identified as a qualified person who reviewed and approved the scientific and technical contents of the release.