Cosa Announces Summer Drill Plans for the Darby Joint Venture with Denison Mines
Cosa Announces Summer Drill Plans for the
Darby Joint Venture with Denison Mines
Vancouver, British Columbia--(Newsfile Corp. - June 15, 2026) -
Cosa Resources Corp. (TSXV:
COSA) (OTCQB: COSAF) (FSE: SSKU)
("
Cosa
" or the "
Company
") is pleased to announce summer
plans for the Company's Darby ("
Darby
") project. Darby is a joint venture (the "
Joint Venture
") between
Cosa and Denison Mines Corp.
(TSX: DML) (NYSE American: DNN)
("
Denison
") and is located 10
kilometres west of Cameco's Cigar Lake Mine in the eastern Athabasca Basin, Saskatchewan (Figure
1). Cosa is the operator of Darby and holds a 70% interest with Denison holding a 30% interest. Drilling
at Darby is expected after completion of a significant drill program at the Company's Murphy Lake North
joint venture to follow up uranium mineralization intersected in winter 2026.
Highlights
Drilling planned at the Gamma trend to follow up structure, alteration, and strongly anomalous
uranium geochemistry intersected during the
winter 2026 drill program
Drilling planned at the Bravo trend to follow up weak uranium mineralization proximal to structure
and alteration intersected by historical drilling
Drilling at Darby expected following completion of the
significant drill program
at the Company's
Murphy Lake North joint venture
Andy Carmichael, Vice President of Exploration, commented:
"Second only to the summer drilling
planned to follow up the recent intersection of 5.0 metres averaging 0.55% U
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at our Murphy Lake
North joint venture, targets at Darby are among our most compelling. Uranium mineralization has
been intersected by several drill holes at Darby, reflecting the prospective geology of the area
between the Cigar Lake and McArthur River uranium mines. Our planned summer drilling will
continue to test areas where uranium mineralization and highly prospective structure and alteration
are in proximity, with a focus this season on the Bravo and Gamma trends."
Planned Darby Drilling
Drilling at Darby is planned to comprise up to 2,000 metres at the Gamma and Bravo trends (Figure 2).
Drilling at Gamma will follow up Cosa's winter 2026 drill program which intersected a broad zone of
structure with significant unconformity offset, alteration, and elevated to strongly anomalous uranium
geochemistry on trend with historical uranium mineralization (Figures 2, 3). Drilling at Bravo will follow up
compelling historical results including structure, alteration, and uranium mineralization.
Next Steps
The Company remains on schedule and expects to announce the commencement of drilling at the
Murphy Lake North joint venture in the coming days. Drilling at Murphy Lake North is expected to take a
minimum of two months to complete and will be followed by drilling at Darby.
Figure 1 - Cosa's Eastern Athabasca Uranium Projects
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Figure 2 - Darby Project Overview
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Figure 3 - Gamma Trend Section 10200N
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About Darby
Located 10 kilometres west of the Cigar Lake Mine, Darby contains multiple prospective conductive
trends and several intersections of weak uranium mineralization (Figures 1 and 2). Historical drilling
indicates 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 14, 2025 and January 21,
2026). Initial drilling results from winter 2026 significantly upgraded multiple trends. Summer drilling is
expected to commence in late August and will include follow up of anomalous results from both winter
2026 and historical drilling.
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.
The Company's primary focus through the remainder of 2026 will be drilling at the Murphy Lake North
and Darby projects in the eastern Athabasca Basin. Drilling at Murphy Lake North will follow up uranium
mineralization within an extensive zone of strong structure and hydrothermal alteration at the Cyclone
trend. Drilling at Darby will follow up on intersections of anomalous geochemistry, structure, and zones of
hydrothermal alteration from both winter 2026 drilling and historical drilling. 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.
Technical Disclosure
Historical drilling and geophysical results for Darby 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.
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. 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.
Samples from Cosa's drilling were transported to SRC Geoanalytical Laboratories (SRC) in Saskatoon,
Saskatchewan (ISO/IEC 17025:2005 accredited) for U
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assay and multielement analysis. Cosa
inserts certified reference material (CRM) blanks and standards into the split core sample series as a
QA/QC measure.
SRC conducts a QA/QC programme which includes repeat analyses and insertion of
CRM standards CAR218, BL4A, and BL2A, as appropriate. SRC's CRM results are verified by Cosa
staff.
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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