Traction Uranium Completes the First Drill Hole at Key Lake South and Begins Drilling the Second Target Located Directly Above the “Radioactive Swamp”
Traction Uranium Completes the First Drill Hole at Key Lake South and
Begins Drilling the Second Target Located Directly Above the “Radioactive
Swamp”
Initial drill targets are testing a previously unknown radioactive swamp the Company discovered in a Fall
2022 Exploration Program
March 14th, 2023
(Calgary, AB): Traction Uranium Corp. (CSE: TRAC) (OTC: TRCTF) (FRA: Z1K) (the “Company”
or “Traction”), along with UGreenco Energy Corp., is pleased to announce that it has finished drilling the
first hole (“KLS23-001”) in the Phase 1 Diamond Drill Program at their Key Lake South (“KLS”) Project in
northern Saskatchewan’s Athabasca Basin, and is currently mobilizing the drill rig to the second diamond drill
hole (“KLS23-002”) (see Figure 1) targeting the “radioactive swamp” discovered by the Company in a Fall
2022 exploration program (see news release dated September 27, 2022) (the “Fall 2022 Program”).
Figure 1 Crew mobilizing diamond drill rig to hole KLS23-002
KLS23-001 is located on the logistically most challenging area furthest from the radioactive swamp and
targeted the edges of both the broad gravity low and the “Athabasca Sandstone” mapped from cobble found
in the till during the 1970’s (see Figure 2). During the Fall 2022 Program, the Company was unable to get
above the swamp to test the radioactive anomaly; however, with the ground fully frozen, the Company is now
able to minimize ground impact and mobilize the dr ill rig to hole KLS23 -002 sitting right above the
radioactive swamp to test for uranium mineralization potential beneath the anomaly.
Phase 1 diamond drilling is planned for 10 high priority targets totaling approximately 2,000 metres (see
Figure 2). Most of the drill targets are situated at the edge of the broad gravity -lows identified in the ground
gravity survey of 2022 (see news release dated November 1st, 2022) and targeting areas with extreme surface
uranium anomalies mapped in 1973 which can be fou nd on Assessment Report # 74H04 -001 on the
Saskatchewan Mineral Assessment Database (SMAD).
Figure 2. The proposed phase 1 diamond drilling of 2023. Black dots represent proposed drill collars, green squares represent
surface radioactive anomalies discovered in the ground program of 2022, red shaded areas represent surface uranium anomalies
(uranium content >2.345 ppm) from the airborne gamma-ray spectrometric survey (Ford et al., 2006*) and the black shaded area
represents the “Athabasca Sandstone” mapped from cobbles in till in 1973 (referenced from Assessment Report # 74H04-001,
(SMAD) Saskatchewan Mineral Assessment Database). Actual location of drill collars may change upon ground conditions in the
field.
*Ford, K.L., Carson, J.M., Coyle, M.,Delaney, G., and Shives, R.B.K.2006: Geophysical Series – NTS 74H/4 – Zimmer Lake,
Saskatchewan; Geological Survey of Canada, Open File 5038, Saskatchewan Industry and Resources, Open File 2006-12, scale
1:50 000.
The previously unknown radioactive anomalies discovered by Traction’s exploration team during the ground
program of 2022 are of particular interest. Sampling of the “black soil”, where the horizon had an observed
thickness of approximately 30 centimetres returned high grade uranium mineralization in the SRC analysis
results. In addition, with the ground presently frozen, the “radioactive swamp” is now accessible which is
another high priority drill target for the Company’s team. Drill crews are currently mobilizing the drill shack
(see Figure 3) to target KLS23-002 to commence drilling beneath the radioactive swamp this week.
Figure 3. Diamond drill shack at KLS Project
About Traction Uranium Corp.
Traction Uranium Corp. is in the business of mineral exploration and the development of uranium discovery
prospects in Canada, including its three uranium projects in the world-renowned Athabasca Region.
We invite you to find out more about our explorati on-stage activities across Canada’s Western region at
www.tractionuranium.com.
Qualified Person
The scientific and technical content of this news release has been reviewed and approved by Linglin Chu, M.Sc.,
P. Geo., who is a “Qualified Person” as defined by National Instrument 43 -101, Standards of Disclosure for
Mineral Projects, and is a director of the Company and Chief Executive Officer of UGreenco Energy Corp. The
information provides an indication of the exploration potential of the KLS Project but may not be representative
of expected results.
On Behalf of The Board of Directors
Lester Esteban
Chief Executive Officer
+1 (604) 561 2687
Forward-Looking Statements
This news release includes forward -looking statements that are subject to risks and uncertainties, including with
respect to the Company’s phase 1 diamond drilling program. The Company provides forward-looking statements
for the purpose of conveying in formation about current expectations and plans relating to the future and readers
are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is
subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that
expectations, forecasts, predictions, projections, or conclusions will not prove to be accurate, that assumptions
may not be correct, and that objectives, strategic goals and priorities w ill not be achieved. These risks and
uncertainties include risks that the phase 1 diamond drilling program will not be completed as contemplated, or at
all, risks that the phase 1 diamond drilling program may not yield the types of information anticipate d, and those
risks identified and reported in the Company’s public filings under the Company’s SEDAR profile at
www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions,
events, or results to diffe r materially from those described in forward -looking information, there may be other
factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no
assurance that such information will prove to be accurate as actual results and future events could differ materially
from those anticipated in such statements. The Company disclaims any intention or obligation to update or revise
any forward-looking information, whether as a result of new information, future events or otherwise unless required
by law.
The CSE has neither approved nor disapproved the information contained herein.