Traction Uranium Announces LIFE Offering for up to C$900,000

• Financing Announcement (April 14, 2026): The company announced a non-brokered private placement (LIFE Offering) for up to C$900,000.
  • Structure: Up to 3,000,000 units at $0.30 per unit.
  • Composition: Each unit includes one common share and one warrant exercisable at $0.40 for 24 months.
  • Purpose: General and administrative expenses and exploration expenditures.
  • Closing: Expected on or about April 28, 2026.
• Property Update (April 14, 2026): Confirmed closure of the option agreement to earn a 100% interest in the Jackson Lake Uranium Property (Northeastern Saskatchewan).
  • Agreement amended/restated on April 3, 2026.
  • Consideration: $400,000 exploration work + $100,000 cash + 1,350,000 shares over two years.
• Historical Context:
  • Aurora Project (Feb 11, 2026): Signed option to earn up to 80% in Aurora Uranium Project. Requires $9.15M cash + $1.5M shares over 5 years.
  • Debt Conversion (Jan 16, 2026): Converted $450,000 of $500,000 debentures into units at $0.42/unit. Remaining debt: $50,000.
  • Share Consolidation (Feb 17, 2026): Approved 3-to-1 consolidation to reduce share count from ~10.95M to ~3.65M.

• Liquidity Management: The C$900,000 raise is a survival mechanism rather than a growth catalyst. It addresses immediate cash needs following the Jackson Lake acquisition and ongoing operational burn.
• Dilution Impact: The offering price of $0.30 represents a discount to the recent trading range ($0.38-$0.40). This signals weak market demand at higher prices and dilutes existing shareholders.
• Capital Commitment vs. Cash Raised: The company has committed to significant cash outflows:
  • Jackson Lake: $100,000 cash + exploration work over 2 years.
  • Aurora Project: $9.15M cash commitment over 5 years (Phase 1 alone requires $1.15M exploration + $75k cash by Dec 31, 2026).
• Conclusion: The news is routine for a junior explorer in this stage but highlights severe capital constraints. It prevents default on the Jackson Lake option but does not solve the long-term funding gap for the Aurora project.

• Overview: Traction Uranium Corp. is an exploration-stage uranium company focused on the Athabasca Basin in Saskatchewan, Canada.
• Flagship Projects:
  • Jackson Lake Uranium Property: ~2,960 hectares in northeastern Saskatchewan (Wollaston Domain). 100% earn-in option closed April 8, 2026. High priority for near-term exploration.
  • Aurora Uranium Project: ~17 km strike on SE margin of Athabasca Basin. Option to earn up to 80%. Requires significant capital ($9M+). Historic alteration zones identified; no drilling since 1979.
• Management: Dr. Jared Suchan appointed CEO in December 2025. Background includes VP Exploration roles at Global Uranium and Integral Metals.