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Cosa Resources Corp. (TSXV: COSA) (OTCQB: COSAF) (FSE: SSKU) ("Cosa" or the "Company") is pleased to announce that project-wide ZTEM surveying at the Astro uranium project ("Astro" or the "Project") has identified over 25 kilometres of prospective east-northeast trending conductive strike length. The survey was fully funded by Cosa's partner, Global Uranium Corporation (CSE: GURN) (OTCQB: GURFF) (FSE: Q3J) ("Global Uranium") per the option agreement (the "Agreement") announced by the Company on April 9th, 2025, which gives Global Uranium the right to earn up to an 80% interest in the Astro project over five exploration stages.
Highlights
Over 25 km of prospective east-northeast trending conductive strike length identified
Tier-1 Athabasca uranium deposits like Cigar Lake and McArthur River are located exclusively on east- and northeast-trending conductive corridors
Results significantly upgrade Astro for future exploration
Survey and supporting work fully funded by Global Uranium
Andy Carmichael, VP Exploration of Cosa, commented: "This is the first time this area has received a comprehensive EM survey, and the results are encouraging. Excellent work by Geotech Ltd and Condor North Consulting has identified approximately 25 kilometres of highly prospective conductive strike length within the Project. We are excited to continue advancing Astro towards inaugural drill testing with our partner Global Uranium. These east-northeast trending conductive corridors are high priority exploration targets in the Athabasca Basin as they are known to host tier-1 deposits like McArthur River and Cigar Lake."
Survey Results
A comprehensive survey comprising over 1,487 line-kilometres of Z-Tipper Electromagnetic (ZTEM) surveying was flown to advance the understanding of basement geology and prospectivity of the underexplored Astro Project, and to highlight priority areas to advance toward initial drill testing.
The most significant result from the survey is the identification of an approximately 25-kilometre-long trend of basement conductivity within the northern half of Astro. Notably, the conductive trend follows a break between magnetic high and low zones, a compelling setting for focusing structures critical to the formation of Athabasca uranium deposits. East and northeast trending conductive corridors, especially where intersected by regional-scale structures, have been the primary target for uranium exploration within the Athabasca Basin for decades as these trends are well known for hosting tier-1 uranium deposits, including Cameco's currently producing Cigar Lake and McArthur River mines.
Results of the survey have significantly upgraded Astro, where favourably oriented conductive trends were previously unknown. Cosa will work closely with its partner, Global Uranium, to develop and execute follow up target generation programs ahead of drill testing. Immediate follow up work is likely to include Ambient Noise Tomography (ANT) for further strike prioritization and to aid in the identification of hydrothermal alteration systems, forward modelling of EM data and ground-based EM, and diamond drilling.
Exclusive to Geotech, the ZTEM system is widely used within the Athabasca Basin as it boasts a demonstrated industry leading ability to provide a wide range of frequency measurements with high accuracy and resolution at depth. Condor Consulting Inc. ("Condor"), recognized experts in the field of geophysical data processing and interpretation with extensive experience with both the ZTEM system and the Athabasca Basin, were commissioned to complete real-time quality Assurance during data acquisition followed by processing and analysis of the survey data.
About Astro
The Astro Project is located roughly 28 kilometres west of Cameco's McArthur River Mine, the world's largest high-grade uranium mine, and approximately 10 kilometres west of CanAlaska Uranium Ltd.'s Pike Zone which boasts world-class intersections (Figure 1). Only one historical drill hole, EK-01, has been completed on the Project. EK-01 failed to explain the strong conductive response it was targeting, suggesting the hole was not ideally located. However, the historical drill log notes favourable features in the sandstone including a brecciated and silicified interval in the upper portion, decametre-scale intervals of illite-dominated clay mineralogy throughout, and moderately bleached and slightly friable intervals in the lower 150 metres., All of these features are commonly associated with unconformity related uranium deposits of the Athabasca Basin. Roughly 11 kilometres to the southwest of EK-01 and within 700 metres of the Astro Project, strongly anomalous uranium geochemistry and pervasive hydrothermal alteration was intersected in the lower to medial sandstone of historical drill holes CR-06 and CR-15. Drilling completed by Cosa in 2024 failed to explain the source of the geochemical anomaly however ground-based EM work completed by Cosa indicates that the targeted conductor likely trends onto the Astro Project. Notably, the Project is unexplored for the extension of regional structures related to both the McArthur River and Fox Lake uranium deposits located roughly 28 and 17 kilometres east of Astro, respectively. Cosa and Global Uranium will execute a work plan designed to rapidly and efficiently canvas much of the Astro Project for identification of the most compelling drill targets. The depth to the unconformity at Astro is estimated to be between 850 and 975 metres.
Figure 1 - Cosa's Eastern Athabasca Uranium Projects with Joint Venture Projects
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Figure 2 - Astro Project with Basement Conductivity
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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 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.
Cosa's award-winning management team has a long track record of success in Saskatchewan. In 2022, members of the Cosa team were awarded the AME Colin Spence Award for their previous involvement in discovering IsoEnergy's Hurricane deposit. Prior to Hurricane, Cosa personnel led teams or had integral roles in the discovery of Denison's Gryphon deposit and 92 Energy's GMZ zone and held key roles in the founding of both NexGen and IsoEnergy.
The Company's core focus throughout 2025 is drilling at the Murphy Lake North Joint Venture. Murphy Lake North is a 70/30 Joint Venture between Cosa and Denison respectively and is located at the northern end of the Larocque Lake trend. The Project is within three kilometres of and on trend with the Hurricane deposit. Drilling completed by Cosa in 2025 identified multiple zones of strong sandstone structure and alteration and weakly elevated radioactivity underlain by large graphitic structures in basement rocks. The Company is planning additional work in 2026.
About Global Uranium Energy Corp.
Global Uranium Corp. focuses on exploring and developing uranium assets primarily in North America. The Company currently holds key uranium projects: the Wing Lake Property in the Mudjatik Domain of Northern Saskatchewan, Canada; the Northwest Athabasca Joint Venture with Forum Energy Metals Corp. and NexGen Energy Ltd. in the Northwest Athabasca region of Saskatchewan, Canada; and the Great Divide Basin District Projects, the Gas Hills District Projects, and the Copper Mountain District Projects in Wyoming, USA.
Technical Disclosure
Historical exploration results disclosed in this news release were sourced from the Saskatchewan Mineral Assessment Database (SMAD). These results have not been verified by the Qualified Person except as noted below and are relied upon for qualitative assessment of the Project only. At present, the Company does not intend to complete additional verification of historical results. SMAD sources for Astro include 74-0015, 74H13-0009, 74H11-0113, 74G16-0010, 74H13-0015, and 74H13-0016.
Verification of historical drilling results included confirming the approximate collar location of historical drill hole EK-01 from air photos. Verification of geophysical results is limited to verification of selected local grid locations for SMAD files 74-0015 and 74H13-0009 and qualitatively assessing whether drilling results from survey areas or along the interpreted strike can reasonably explain historical geophysical interpretations.
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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