Cosa Announces Commencement of Winter 2026 Drilling Campaign on Joint Ventures with Denison Mines
Cosa Announces Commencement of Winter
2026 Drilling Campaign on Joint Ventures with
Denison Mines
Vancouver, British Columbia--(Newsfile Corp. - January 28, 2026) -
Cosa Resources Corp. (TSXV:
COSA) (OTCQB:
COSAF) (FSE: SSKU)
("
Cosa
" or the "
Company
") is pleased to announce drilling
has commenced at the Company's Darby ("Darby") project, with drilling at Murphy Lake North ("
MLN
") to
follow (Figure 1). Darby and MLN are joint ventures (the "
Joint Venture
") between Cosa and Denison
Mines Corp. ("
Denison
")
(TSX: DML) (NYSE American: DNN)
and are located 10 kilometres west of
Cameco's Cigar Lake Mine and three kilometres east of IsoEnergy's Hurricane Deposit, 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.
Winter Drilling
Approximately 2,500 metres are planned at Darby in winter 2026 to test initial priority targets identified
by Cosa's 2025 core relogging and reinterpretation program. Priority targets are the immediate
vicinities of drill holes which intersected zones of coincident sandstone alteration and anomalous
1
uranium content proximal to significant graphitic basement faults. Up to four initial target areas will be
evaluated during winter 2026.
Drilling plans at MLN comprise approximately 1,200 metres and will follow up summer 2025 results at
the Cyclone trend where broad zones of structure and alteration were intersected over a two-kilometre
strike length. Drilling will target a 1,200-metre gap in existing drilling where a lake prevents summer
access. Drilling will also test a potential trend parallel to and approximately 100 metres south of Cyclone
interpreted from intensely graphitic rocks and faulting intersected in the basement of MLN25-007.
For further details on winter 2026 drill targets, refer to
Cosa's news release dated January 21, 2026.
About Darby
Located 10 kilometres west of the Cigar Lake Mine, Darby contains multiple prospective conductive
trends and several historical intersections of weak uranium mineralization (Figure 1). Historical drilling
demonstrates that many of these trends are highly prospective for uranium deposits characteristic of the
eastern Athabasca Basin, yet most of the strike length has not been effectively evaluated. Work by Cosa
in 2025 prioritized these trends and identified several historical drill holes with results that suggest
proximity to uranium mineralization (See Cosa's news releases dated October 24, 2025, and January
21, 2026). Darby was last drilled in 2009.
About Murphy Lake North
MLN covers a portion of the Larocque Lake trend and is located 2.7 kilometres east of the Hurricane
deposit (Figure 1). Hurricane is the world's highest-grade indicated uranium resource and was
discovered and delineated for IsoEnergy Ltd. by current members of Cosa's team. The Larocque Lake
trend also hosts the high-grade Larocque Lake Zone, Yelka Prospect, and Alligator Lake Zone. MLN
contains the along-strike extension of basement geology underlying the Hurricane deposit (the Hurricane
trend), as well as a parallel conductive trend to the south (the Cyclone trend). Drilling by Cosa in 2025
intersected zones of sandstone alteration and structure associated with graphitic basement structures
along both trends. Following up these positive results is the primary 2026 objective at MLN.
1 - When analyzed using SRC's partial digestion and Inductively Coupled Plasma Mass Spectrometry (ICP-MS) method, Cosa considers uranium
concentrations in the Athabasca sandstone greater than 0.5 ppm to be elevated, greater than 1.0 ppm to be anomalous, and greater than 4 ppm to
be strongly anomalous.
Figure 1 - Cosa's Eastern Athabasca Uranium Projects with Joint Venture Projects
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9865/281854_4ad7e280c4b07bf7_003full.jpg
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 underexplored 100% owned and Cosa-operated
joint venture projects in the Athabasca Basin region, the majority of which reside within or adjacent to
established uranium corridors.
In January of 2025, the Company entered a transformative strategic collaboration with Denison Mines
(TSX: DML) (NYSE American: DNN) that has secured access to 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 track record of success in Saskatchewan. In 2022,
members of the Cosa team were awarded the AME Colin Spence Award for the discovery of the
Hurricane uranium deposit. Cosa personnel led teams or had integral roles in the discovery of Denison's
Gryphon deposit and held key roles in the founding of both NexGen and IsoEnergy.
The Company's focus throughout 2026 is drilling at the Darby and MLN projects in the eastern
Athabasca Basin. Both projects are operated by Cosa and are 70/30 joint ventures between Cosa and
Denison respectively. Drilling at Darby will evaluate target areas with anomalous uranium, clay alteration,
and historical mineralization intersected nearby. Drilling at MLN will follow up 2025 drilling which
intersected broad zones of structurally controlled alteration over roughly 2 kilometres of strike length.
Technical Disclosure
Historical drilling and geophysical results for Darby and MLN were sourced from the
Saskatchewan
Mineral Assessment Database
(SMAD). SMAD sources for Darby include file numbers 74H14-0021,
74H14-0023, 74H15-0041, 74H15-0053, 74H15-0055, 74H15-0056, 74H15-0066, 74H15-0067, 74I02-
0031, 74I02-0042, 74I02-0053, 74I02-0080, 74I02-0095, and MAW00516. Some confidential data and
reports not presently available via SMAD were supplied to Cosa by Denison. SMAD sources for MLN
and adjacent projects include file numbers 64L05-0161, 64L05-0180, 74I-0060, 74I-0066, 74I-0067,
74I01-0114, 74I08-0056, 74I09-0053, 74I09-0057, 74I09-0061, 74I09-0064, 74I09-0066, 74I09-0071,
74I09-0077, 74I09-0079, 74I09-0087, 74I09-0088, 74I09-0090, 74I09-0091, 74I09-0092, 74I09-0098,
MAW00510, MAW01939, MAW02327, MAW02599, and MAW02395. Data and reports related to the
2020 ground EM survey completed by Denison are not presently available via SMAD and were supplied
to Cosa by Denison.
Verification of historical drilling results included confirming historical drill hole collar locations from air
photos and ground checking selected collars with a handheld GPS unit. Basement and lower sandstone
sections from most historical drill holes were relogged in 2024 and 2025 by Cosa. For Darby,
verification of geochemical results for drill holes completed between 2008 and 2010 was facilitated by
the reissuance of analytical certificates to Cosa by the Saskatchewan Research Council (SRC). Cosa
thanks the SRC for its valued assistance in increasing confidence in the historical dataset.
Verification of historical geophysical results included confirming the locations of geophysical survey
grids from air photos, compiling survey data and interpretations, and evaluating whether interpreted
geophysical results could be reasonably explained by historical and current drilling results. For MLN,
Cosa engaged a consultant to re-interpret historical geophysical surveys to validate selected previous
interpretations.
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
+1 888-899-2672 (COSA)
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.
Cautionary Statements
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. These forward-looking statements or information may relate to
anticipated exploration, development and/or expansion activities, including exploration of the Company's
current Projects; the collaboration with Denison, including the Joint Venture, and the anticipated benefits
thereof; and the outlook regarding Cosa's business plans and objectives.
Such forward-looking information and statements are based on numerous assumptions, including
among others, that the results of planned exploration activities are as anticipated, the cost of planned
exploration activities are as anticipated, that general business and economic conditions will not change
in a material adverse manner, that financing will be available if and when needed and on reasonable
terms, that third party contractors, equipment and supplies and governmental and other approvals
required to conduct Cosa's planned exploration activities will be available on reasonable terms and in a
timely manner. Although the assumptions made by Cosa in providing forward-looking information or
making forward-looking statements are considered reasonable by management at the time, there can
be no assurance that such assumptions will prove to be accurate.
By their nature, forward-looking statements involve known and unknown risks, uncertainties and other
factors which may cause our actual results, performance or achievements, or other future events, to be
materially different from any future results, performance or achievements expressed or implied by such
forward-looking statements. Such factors and risks include, among others: Cosa may require additional
financing from time to time in order to continue its operations which may not be available when needed
or on acceptable terms and conditions acceptable; Cosa may not be able to maintain compliance with
its contractual obligations with third parties; Cosa may not be able to maintain compliance with extensive
government regulation applicable to its operations; domestic and foreign laws and regulations could
adversely affect Cosa's business and results of operations; the stock markets have experienced volatility
that often has been unrelated to the performance of companies and these fluctuations may adversely
affect the price of Cosa's securities, regardless of its operating performance; the ongoing military
conflict in Ukraine, and other risk factors set out in Cosa's public disclosure documents.
The forward-looking information contained in this news release represents the expectations of Cosa as
of the date of this news release and, accordingly, is subject to change after such date. Readers should
not place undue importance on forward-looking information and should not rely upon this information as
of any other date. Cosa does not undertake any obligation to update these forward-looking statements in
the event that management's beliefs, estimates or opinions, or other factors, should change.
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