Cosa Initiates Core Drilling at Murphy Lake North Uranium Project

Cosa Resources Corp. (TSXV: COSA) (OTCQB: COSAF) (FSE: SSKU) has commenced core drilling at the Murphy Lake North (MLN) Uranium Project in Saskatchewan's eastern Athabasca Basin. This marks the first drilling campaign at MLN since 2005, targeting areas near the Hurricane deposit, recognized as the world's highest-grade Indicated Uranium Resource.

The drilling program focuses on two main objectives: exploring the interpreted extension of the Hurricane deposit basement geology and evaluating a parallel trend with historical uranium mineralization intersections. The project's location, just 2.7 kilometers east of the Hurricane deposit, and its strategic position within the Larocque Lake trend, make it an attractive target for uranium exploration.



MLN features approximately six kilometers of conductive strike length, with unconformity depths ranging from 170 to 250 meters. Cosa is solely funding this drill program as part of its commitment to fund $1.5 million in exploration expenditures by December 31st, 2027.

Andy Carmichael, Cosa's VP of Exploration, commented on the commencement of drilling: "Located just three kilometers from the Hurricane deposit, Murphy Lake North is interpreted to host the along-strike extension of the basement geology controlling Hurricane. Our team is very familiar with the geology in the area, and we are thrilled to be drilling this highly underexplored section of the very fertile and reinvigorated Larocque Lake Trend. In addition to the Hurricane trend, Murphy Lake North hosts a parallel trend to the south where weak mineralization intersected in 2002 warrants additional follow up. With multiple historical intersections of weak mineralization, ample exploration space, and ideal basement geology, the Project's high degree of prospectivity is complemented by its shallow target depth as the unconformity is less than 250 meters below surface."

Cosa's shares resumed trading on the TSX Venture Exchange on December 2 after being temporarily halted following the initial announcement of the transaction. The deal includes the issuance of 14,195,506 Cosa shares to Denison, representing a 19.95% post-transaction stake, along with US$2.25 million in deferred shares to be issued over five years. The company anticipates closing the transaction in early 2025, subject to remaining conditions, including final TSX-V approval.

In conclusion, Cosa Resources Corp.'s initiation of core drilling at the Murphy Lake North Uranium Project presents an exciting opportunity for investors in the uranium sector. The project's strategic location, shallow target depth, and high degree of prospectivity make it an attractive target for uranium exploration. As the drilling campaign progresses, investors should closely monitor the company's developments and potential discoveries at MLN.