Episode Details

Keith Bodnarchuk, President and CEO, and Andy Carmichael, VP of Exploration of Cosa Resources Corp. (TSXV: COSA) (OTCQB: COSAF) (FSE: SSKU) , both join me to review the news released on March 24th and today on April 13th which announced anomalous radioactivity in multiple drill holes and completion of the winter 2026 drilling program at the Company’s Murphy Lake North Project (MLN).  Both MLN and Darby are joint ventures between Cosa and Denison Mines Corp. (TSX: DML) (NYSE American: DNN) and are located 3kms east of IsoEnergy’s Hurricane Deposit, and 10kms west of Cameco’s Cigar Lake Mine and respectively, in the eastern Athabasca Basin, Saskatchewan. Cosa is the operator of both projects and holds a 70% interest with Denison holding a 30% interest in each.

Highlights

• Radioactivity intersected in three drill holes
• Radioactivity remains open in multiple directions including for at least 600 metres along strike to the east and 600 metres to the west within the larger kilometre-scale Cyclone alteration zone

• MLN26-013 intersected 5.0 metres of anomalous radioactivity up to 13,900 CPS1 in the upper basement approximately 260 metres vertically from surface

• Depth of the radioactivity is shallow at approximately 260 metres vertically from surface
• Cyclone trend structural corridor is over 100 metres wide and hosts significant alteration consistent with major eastern Athabasca uranium deposits

MLN Winter Drilling Approach

Winter drilling at MLN followed up structure and alteration intersected at the Cyclone trend in summer 2025. Five drill holes totaling 2,015 metres were completed during the program with three drill holes intersecting anomalous radioactivity. The first drill hole of the program, MLN26-013, intersected the strongest radioactivity including a 5.0 metre interval of continuously anomalous radioactivity in the upper basement. Two holes were completed to directly follow up radioactivity in MLN26-013. Two additional holes were completed to define underlying geology ahead of summer drilling and follow up another radioactive intersection. All drill holes were completed on Section 3200E.

Drilling determined the Cyclone trend is underlain by a package of graphitic and non-graphitic pelitic gneisses and quartzite over 100 metres in width. The full width of the mineralized structural corridor is unknown as additional prospective graphitic rocks may lie north and south of current drilling.

Next Steps

The Company and its Joint Venture partner, Denison Mines, will be finalizing summer plans in the coming weeks. The drill remains on site for rapid startup when drilling resumes this summer. Assays for all winter drill holes remain outstanding.

If you have any questions for Keith or Andy regarding Cosa Resources then please email them into me at Shad@kereport.com

* In full disclosure, Shad is a shareholder of Cosa Resources at the time of this recording and may choose to buy or sell shares at any time.

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