Global Uranium completes 20% earn-in at Astro

• Global Uranium Corp. completed Phase 1 requirements of its option agreement with Cosa Resources, securing an initial 20% interest in the Astro project.
• The earn-in structure allows Global to reach up to 80% ownership over five phases via exploration financing, cash payments, and share issuances.
• Geophysical progress on Astro includes a 25-kilometre conductive corridor identified by ZTEM surveying, fully funded by Global Uranium.
• Future work plans include ambient noise tomography surveys to refine structural targets for drilling.
• Concurrently, Cosa reported anomalous radioactivity at Murphy Lake North (MLN) on April 13, with intercepts up to >13,900 cps, though chemical assays remain pending.
• The company maintains joint ventures with Denison Mines (70/30 split) on Darby and MLN projects.

• The Astro earn-in completion is a positive validation of the partnership structure but does not introduce new value creation beyond previously announced terms.
• It confirms Global Uranium is fulfilling its funding obligations, reducing immediate cash burn risk for Cosa on this specific project.
• However, the MLN radioactivity results (April 13) lack confirmed uranium grades ("assays are pending"), limiting their materiality until chemical verification occurs.
• The news reinforces operational momentum but lacks a definitive discovery or resource estimate that would warrant a "Material - Positive" rating.
• Investor confidence is bolstered by the continued participation of strategic partners (Denison, Global), yet dilution risks from warrants and future earn-in share issuances persist.

• Strategy: Discovery and development of high-grade unconformity-hosted uranium deposits in the Athabasca Basin via joint ventures and strategic acquisitions.
• Flagship Projects: Murphy Lake North (MLN) and Darby are 70% owned by Cosa with Denison Mines as a 30% partner; Astro is optioned to Global Uranium.
• Location: Eastern Athabasca Basin, Saskatchewan, Canada, proximal to major producers like Cigar Lake and Hurricane deposits.
• Exploration Status: Active drilling programs (Winter/Summer 2026) with multiple projects in various stages of target definition and testing.
• Management Track Record: Team includes members involved in the Phoenix, Gryphon, and Hurricane discoveries, lending credibility to exploration thesis.