Cosa Commences Airborne Geophysical Surveys at the Cosmo and Orion Uranium Projects, Athabasca Basin, Saskatchewan

Rhea-AI Summary

Cosa Resources Corp (COSAF) has initiated airborne geophysical surveys at its wholly-owned Cosmo and Orion uranium projects in Saskatchewan's Athabasca Basin. The company has contracted Geotech Limited to conduct 618 line-kilometers of surveying using their proprietary Z-Axis Tipper Electromagnetic (ZTEM) system. The survey aims to identify conductive basement stratigraphy, particularly potential extensions of the Bell Lake structural corridor and Larocque Lake Trend. Condor Consulting Inc. will interpret the survey results, focusing on identifying basement conductive zones typical of tier-1 Athabasca uranium deposits and potential hydrothermal alteration zones. Follow-up work may include Ambient Noise Tomography and ground-based electromagnetic surveys, with promising areas being prioritized for future drill testing.

Vancouver, British Columbia--(Newsfile Corp. - June 4, 2025) - Cosa Resources Corp. (TSXV: COSA) (OTCQB: COSAF) (FSE: SSKU) ("Cosa" or the "Company") is pleased to announce airborne geophysical surveying has commenced at the 100% owned Cosmo and Orion uranium projects ("Cosmo", or "Orion" or the "Project"). Cosa has engaged Geotech Limited ("Geotech") to complete comprehensive coverage over these projects utilizing their exclusive industry-leading Z-Axis Tipper Electromagnetic system ("ZTEM").

Highlights

• Property-wide coverage at Cosmo will determine if prospective conductive basement stratigraphy is present; notably the potential extension of the Bell Lake structural corridor, believed to host east-west structures critical in the formation of the Hurricane deposit to the east

• Surveying at Orion will complete ZTEM coverage along the interpreted extension of the Larocque Lake Trend which hosts the Hurricane deposit to the northeast

• Detailed interpretation to identify follow up target areas potentially related to structures and/or hydrothermal alteration to follow

Details

Cosa has engaged Geotech Ltd. to complete 618 line-kilometres of ZTEM surveying at the Cosmo and Orion projects. 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, have been retained to complete a detailed interpretation of the results.

The primary objective of surveying is to determine if basement conductive zones like those associated with all tier-1 Athabasca uranium deposits are present. ZTEM also has potential to map zones of anomalous conductivity in the sandstone which may reflect zones of hydrothermal alteration related to significant basement structures.

Results of the survey and data inversion will guide follow up work. The identification of basement conductive trends would likely warrant a combination of Ambient Noise Tomography ("ANT") surveying and ground-based electromagnetic ("EM"). The most prospective areas identified from these surveys will be prioritized for drill testing and added to Cosa's pipeline of compelling drill targets.

About Cosmo

Cosa's 100% owned, 10,145-hectare Cosmo Project is located 36 kilometres west of the Hurricane deposit and 58 kilometres north of the Cigar Lake Mine (Figure 1). Cosmo covers 18 kilometres of magnetic low strike length located on the western flank of a magnetic high; magnetic lows on the northern, eastern, and southern flanks of the magnetic high bordering Cosmo host EM conductors and uranium occurrences (Figure 2). This includes the Bell Lake east-west structural corridor, which may be important in localizing mineralization at the Hurricane Deposit to the east. Cosmo has never been covered with ZTEM, and historical exploration work is limited. No drilling is known to have been completed at Cosmo. The depth to the unconformity is estimated to be 600 to 750 metres.

About Orion

Orion is located 29 kilometres west of the Cigar Lake uranium mine and immediately east of Orano's Parker Lake Project. The Project covers approximately 25 kilometres of strike length of the interpreted extension of the Larocque Lake Trend. Cosa has repeatedly expanded its 100%-owned, 20,255-hectare Orion Project since initial acquisition in 2022 as the fertile Larocque Lake Trend hosts numerous occurrences of high-grade mineralization to the northeast while the portion covered by Orion is highly underexplored.

Orion is on the interpreted western extension of the Cigar Lake - Tucker Lake trend where it intersects the Larocque Lake trend (Figure 3). Drilling on trend at Parker Lake has intersected broad zones of structural disruption in the sandstone with illitic hydrothermal alteration and anomalous uranium geochemistry, including 0.05% U₃O₈ over 1.0 metres (932.4-933.4 metres) immediately above the unconformity in drill hole PAR-03. Basement intersections included graphitic lithologies and structures, indicating basement geology and sandstone alteration along trend is consistent with deposits in the region.

In 2023, MobileMT™ surveying completed by Cosa over the western portion of Orion identified basement hosted conductive zones overlain by conductivity anomalies in the sandstone. Follow up ANT surveying in 2024 identified several kilometre-scale sandstone-hosted low velocity anomalies which are interpreted to reflect prospective structures and/or alteration above conductive basement zones and are considered high priority targets for additional follow up (see Cosa's News Release dated 28 May 2025).

Figure 1 - Cosa's Athabasca Basin Uranium Projects

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Figure 2 - Cosmo Project with 2025 ZTEM Survey Area

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Figure 3 - Orion Project with 2025 and historical ZTEM Survey Areas 

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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 100% owned and Cosa-operated Joint Venture projects in the Athabasca Basin region, all of which are underexplored, and the majority reside within or adjacent to established uranium corridors.

In January of 2025, the Company entered a transformative strategic collaboration with Denison Mines that has secured Cosa access into 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. Initial drilling completed by Cosa during winter 2025 intersected broad zones of hydrothermal alteration of the sandstone, associated with prospective basement structures interpreted as the strike extension of those controlling the Hurricane deposit. An expanded follow up campaign is currently in planning for the summer season.

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 Orion include MAW02291, MAW02121, MAW00736, 74I04-0010, 74I04-0009, 74I03-0015, 74I03-0013, and 74I02-0073. SMAD sources for Cosmo include 74I-0010, 74I-0012, and 74I10-0020.

Verification of historical drilling results included confirming the approximate collar location of historical drill holes from air photos and reviewing core photos and geochemical results. Core photos were not available for all drill holes. Cosa intends to relog drill core from the two historical drill holes Orion in the summer of 2025. Verification of geophysical results is limited to reviewing historical interpretations of ground surveys and confirming selected survey grid locations from air photos.

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)

Cautionary Statements

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.

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. Forward-looking statements in this press release include but are not limited to statements regarding the Company's exploration and development plans. Although the Company believes any forward-looking statements in this press release are reasonable, it can give no assurance that the expectations and assumptions in such statements will prove to be correct. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, and other risks involved in the mineral exploration and development industry, including those risks set out in the Company's management's discussion and analysis as filed under the Company's profile at www.sedarplus.ca. Forward-looking information in this news release is based on the opinions and assumptions of management considered reasonable as of the date hereof, including the price of uranium and other commodities; costs of exploration and development; the estimated costs of development of exploration projects; the Company's ability to operate in a safe and effective manner and its ability to obtain financing on reasonable terms. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information. The Company disclaims any intention or obligation to update or revise any forward-looking information, other than as required by applicable securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/254406

FAQ

What is the purpose of COSAF's ZTEM survey at Cosmo and Orion uranium projects?

The ZTEM survey aims to identify conductive basement zones typical of tier-1 Athabasca uranium deposits and map potential hydrothermal alteration zones in the sandstone related to significant basement structures.

How many line-kilometers will Geotech survey for Cosa Resources?

Geotech will complete 618 line-kilometers of ZTEM surveying at the Cosmo and Orion projects.

What are the next steps after COSAF's ZTEM survey completion?

After survey completion and data interpretation, promising areas may undergo Ambient Noise Tomography (ANT) surveying and ground-based electromagnetic (EM) surveys, followed by drill testing of priority targets.

Who will interpret the ZTEM survey results for Cosa Resources?

Condor Consulting Inc., recognized experts in geophysical data processing with extensive experience in both ZTEM systems and the Athabasca Basin, will interpret the survey results.