Traction Uranium Secures Rig for Lazy Edward Bay Drilling Program
Traction Uranium Inc. 1
Traction Uranium Secures Rig for Lazy Edward Bay Drilling Program
The Program includes 8 diamond drill holes totaling 2,000m along section, and along strike from
encouraging historic drill results
May 10, 2022
Vancouver BC – Traction Uranium Corp. (the “Company” or “Traction”) (CSE: TRAC) (OTC: TRT) (FRA: Z1K),
a mineral exploration issuer focusing on the development of discovery prospects in Canada, including its
two flagship uranium projects in the world -renowned Athabasca Region, is pleased to announce it has
secured a rig and logistical preparations are underway for the summer drilling program at the Lazy Edward
Bay property which is expected to begin mobilization in May 13th. The budget for the program is set at
$1.5M with plans to drill 8 diamond drill holes totalling approximately 2,000m. Located near the southern
edge of the Athabasca Basin, the targets are at relatively shallow depths, with the Athabasca sandstone
ranging to depths of approximately 150 m where present.
Fission 3.0 Corp. (“Fission 3’) will conduct the work program in accordance with the terms of the Option
Agreement between Traction and Fission 3, whereby Traction can acquire up to a 70% interest in the Lazy
Edward Bay property. (see Dec 10, 2021 Traction news release.)
Lester Esteban, Chief Executive Offi cer, stated “Securing a rig in these busy times is no small feat.
Accommodations are set for the drill crew at a camp less than 10 kilometers away and we have 67,000 lbs
of supplies staged for the team. The supplies were transported using a local contract or’s ice road which
provides a significant cost savings versus using a helicopter, allowing us to apply those savings to the drill
program.”
About the Property
The Lazy Edward Bay property is located halfway between Cameco’s Key Lake Mine and the high -grade
Centennial uranium deposit, and hosts NE-trending conductive corridors similar to those associated with
Key Lake and Centennial. The major uranium deposits in the eastern Athabasca Basin, including Key Lake,
McArthur River and Cigar Lake, are along the NE-trending Wollaston -Mudjatik transition zone and
conductive corridor. To the west of the property, the Centennial deposit is localized along the NE-trending
Virgin River conductive corridor which transects the entire Athabasca Basin. The Key Lake mine, located
~50 km to the east of the property is accessible by Provincial Highway 914, serviced by the provincial
power grid, and has an operating mill where the McArthur River ore has been processed.
About Traction Uranium Corp.
Traction Uranium (CSE: TRAC) (OTC: TRCTF) (FRA: Z1K) is in t he business of mineral exploration and the
development of discovery prospects in Canada, including its two flagship uranium projects in the
Athabasca Region.
We invite you to find out more about our exploration -stage activities across Canada’s Western region at
www.tractionuranium.com.
Traction Uranium Inc. 2
About Fission 3.0 Corp.
Fission 3.0 Corp. is a uranium project generator and exploration company, focusing on projects in the
Athabasca Basin, home to some of the world’s largest high -grade uranium discoveries. Fission 3.0
currently has 16 projects in the Athabasca Basin. Several of Fission 3.0’s projects are near large uranium
discoveries, including Arrow, Triple R and Hurricane deposits.
Qualified Person
The technical information in this news release has been prepared in accordance with the Canadian
regulatory requirements set out in National Instrument 43 -101 and reviewed on behalf of the company
by Raymond Ashley, P.Geo., Vice President, Exploration of Fission 3.0 Corp.,
On Behalf of the Board of Directors
Lester Esteban
Chief Executive Officer
+1 (604) 561 2687
Disclaimer for Forward-Looking Information
This news release contai ns certain forward-looking statements within the meaning of applicable securities laws. All
statements that are not historical facts, including without limitation, statements regarding future estimates, plans,
programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, including
statements regarding the expected use of proceeds from the Private Placement are “forward -looking statements”.
These forward -looking statements reflect the expectations or beliefs of man agement of the Company based on
information currently available to it. Forward-looking statements are subject to a number of risks and uncertainties,
including those detailed from time to time in filings made by the Company with securities regulatory autho rities,
which may cause actual outcomes to differ materially from those discussed in the forward-looking statements. These
factors should be considered carefully and readers are cautioned not to place undue reliance on such forward-looking
statements. The forward-looking statements and information contained in this news release are made as of the date
hereof and the Company undertakes no obligation to update publicly or revise any forward -looking statements or
information, whether as a result of new informa tion, future events or otherwise, unless so required by applicable
securities laws.