Cosa Resources Announces Acquisition of Astro Uranium Exploration Property in the Eastern Athabasca Basin
Cosa Resources Announces Acquisition of Astro Uranium
Exploration Property in the Eastern Athabasca Basin
Vancouver, British Columbia, May 02 , 2023 – Cosa Resources Corp. (CSE: COSA) (“ Cosa Resources” or the
“Company”) is pleased to announce the acquisition of the 100% owned Astro uranium exploration property in the
Eastern Athabasca Basin, Saskatchewan.
Highlights
Astro covers 20 kilometres strike length of electromagnetic (EM) conductors which are untested by drilling
Strong potential exists to develop significant additional conductive strike with low-cost airborne surveying
The 40,025-hectare project was acquired by low -cost staking and is 100% owned by Cosa Resources with
no encumbrances
Keith Bodnarchuk, President & CEO, commented: “We are thrilled to add Astro to Cosa's portfolio of underexplored
magnetic low corridors in the Athabasca Basin. Astro is another result of our efforts to acquire projects with potential
for Tier 1 discoveries. Cosa is preparing t o initiate significant exploration programs on multiple properties in our
portfolio and we are eager to share our plans and results with shareholders.”
Andy Carmichael, VP of Exploration commented: “ Astro has the key primary attributes which warrant significant
exploration in the Athabasca Basin – conductive basement and abundant search space. With 20 kilometres of
undrilled, prospective strike length already defined and good p otential to add significantly more, we view Astro as
an early-stage project with great prospects.”
Astro Property
The Astro property is located 28 kilometres west of the McArthur River Mine, 17 kilometres west of the Fox Lake
Deposit, and 13 kilometres north of the Millennium Deposit (Figure 2). Access trails extending west from the
McArthur River haul road are within six kilometres of the property’s eastern boundary, and other access trails on
Cosa’s Ursa property extend onto Astro.
Astro covers a series of subparallel, northwest -trending magnetic low and high zones interpreted to represent
prospective metasediments and buttressing granitic rocks, respectively. Historical airborne and ground EM surveying
has defined 20 kilometres of EM cond uctor strike length within the property, including conductors extending from
Cosa’s contiguous Ursa project to the west. Most historical conductors within the property extend to the limits of
their survey areas, indicating significant potential to develop additional conductive strike length by extending survey
coverage (Figure 2). The continuity of magnetic lows at Astro is encouraging, as is the property’s location between
the Cable Bay Shear Zone and an interpreted corridor extending south to the Millennium deposit.
No drilling has been completed on the project. The depth to the unconformity is expected to be between 800 and
1000 metres. Initial steps will include compilation and interpretation of historical ge ophysical survey data and
planning for modern airborne geophysical surveying.
Figure 1 – Cosa’s Eastern Athabasca Portfolio with Prospective Uranium Corridors
Figure 2 – Astro Project Map
About Cosa Resources
Cosa Resources is a Canadian mineral exploration company based in Vancouver, BC and is focused on the exploration
of its uranium and copper properties in northern Saskatchewan. The portfolio includes six uranium exploration
properties: Ursa, Orion, Castor , Charcoal , Helios, and Astro, totaling 140,677 ha in the eastern and northern
Athabasca Basin.
The team behind Cosa Resources has a track record of success in Saskatchewan, with several decades of combined
experience in uranium exploration, discovery, and development in the province.
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 Resources. Mr. Carmichael is a Qualified Person as
defined under the terms of National Instrument 43-101. This news release refers to neighboring properties in which
the Company has no interest. Mineralization on those neighboring properties does not necessarily indicate
mineralization on the Company’s properties.
Contact
Keith Bodnarchuk, President and CEO
+1 888-899-2672 (COSA)
Cautionary Statements
Neither the Canadian Securities Exchange nor the Market Regulator (as that term is defined in the policies of the
Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release includes certain “Forward -Looking Statements” within the meaning of applicable securities laws .
When used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target”, “plan”, “forecast”,
“may”, “would”, “could”, “schedule” and similar words or expressions, identify forward- looking statements or
information. These forward looking statements or information relate to, among other things: the exploration,
development, and production at the Company’s mineral projects.
Forward-looking statements and forward- looking information relating to any future mineral production, liquidity,
enhanced value and capital markets profile of the Company, future growth potential for the Company and its
business, and future exploration plans are based on management’s reasonable assumptions, estimates, expectations,
analyses and opinions, which are based on management’s experience and perception of trends, current conditions
and expected developments, and other factors that management believes are relevant and reasonable in the
circumstances, but which may prove to be incorrect. Assumptions have been made regarding, among other things,
the price of metals; no escalation in the severity of the COVID- 19 pandemic; costs of exploration and development;
the estimated costs of development of exploration projects; the Company’s ability to operate in a safe and effective
manner.
These statements reflect the Company’s respective current views with respect to future events and are necessarily
based upon a number of other assumptions and estimates that, while considered reasonable by management, are
inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies.
Many factors, both known and unknown, could cause actual results, performance, or achievements to be materially
different from the results, performance or achievements that are or may be expressed or implied by such forward-
looking statements or forward -looking information and the Company has made assumptions and estimates based
on or related to many of these fact ors. Such factors include, without limitation: the Company's dependence on one
mineral project; precious metals price volatility; risks associated with the conduct of the Company's mining activities;
regulatory, consent or permitting delays; risks relating to reliance on the Company's management team and outside
contractors; the Company's inability to obtain insurance to cover all risks, on a commercially reasonable basis or at
all; currency fluctuations; risks regarding the failure to generate sufficient cash flow from operations; risks relating
to project financing and equity issuances; risks and unknowns inherent in all mining projects; contests over title to
properties, particularly title to undeveloped properties; laws and regulations governing the environment, health and
safety; the ability of the communities in which the Company operates to manage and cope with the implications of
COVID-19; the economic and financial implications of COVID-19 to the Company; operating or technical difficulties in
connection with mining or development activities; employee relations, labour unrest or unavailability; the Company's
interactions with surrounding communities; the speculative nature of exploration and development; stock market
volatility; conflicts of interest among certain directors and officers; lack of liquidity for shareholders of the Company;
litigation risk; and the factors identified in the Company’s public disclosure documents . Readers are cautioned
against attributing undue certainty to forward- looking statements or forward -looking information. Although the
Company has attempted to identify important factors that could cause actual results to differ materially, there may
be other factors that cause results not to be anticipated, estimated or intended. The Company does not intend, and
does not assume any obligation, to update these forward- looking statements or forward- looking information to
reflect changes in assumptions or changes in circumstances or any other events affecting such statements or
information, other than as required by applicable law.