Cosa Resources Announces Acquisition of Solstice Uranium Exploration Property in the Athabasca Basin Region, Saskatchewan
Cosa Resources Announces Acquisition of
Solstice Uranium Exploration Property in the
Athabasca Basin Region, Saskatchewan
Vancouver, British Columbia--(Newsfile Corp. - October 26, 2023) -
Cosa Resources Corp.
(
TSXV:
COSA
) (
OTCQB: COSAF
) (
FSE: SSKU
) ("
Cosa
" or the "
Company
") is pleased to announce the
acquisition of the 100% owned Solstice uranium exploration property in the Athabasca Basin region,
Saskatchewan ("
Solstice
" or the "
Property
"). Additionally, the Company has entered into a service
agreement with Native Ads Inc. ("
Native Ads
").
Highlights
Solstice covers 3 kilometres of strike length along a prominent northwest-trending magnetic break,
a setting which hosts several mineralized zones and deposits in the western Athabasca Basin
region
The 628-hectare project was acquired by low-cost staking and is 100% owned by Cosa with no
encumbrances
Cosa's uranium exploration portfolio now comprises 161,536 hectares in the Athabasca Basin
region of Saskatchewan
Keith Bodnarchuk, President and CEO of Cosa, commented:
"Solstice is another example of our
technical team adding quality exploration ground to our portfolio of Athabasca uranium exploration
projects. We look forward to updating the market with detailed results of our recent exploration work,
and as we prepare for our inaugural drill program at Ursa, we are eager to share the Cosa story with a
much broader audience."
Andy Carmichael, VP of Exploration of Cosa, commented:
"Solstice covers the southwest edge of a
prominent, north-northwest trending magnetic high, a setting similar to those hosting the Shea Creek
uranium deposits and F3 Uranium's JR Zone. Historical work has mapped an EM conductor
immediately south of the Property's southern boundary and we will determine if it extends onto
Solstice."
Solstice Property
The Solstice Property comprises three mineral claims totaling 628 hectares staked in October 2023.
Solstice is located 14 kilometres north of the Smart Lake uranium occurrence, 24 kilometres northwest
of F3 Uranium Corp.'s JR Zone, and 36 kilometres southwest of the Shea Creek uranium deposits
(Figures 1 and 2). Provincial Highway 955 passes within 25 kilometres, and an existing network of winter
roads extends to within 9 kilometers of the Property.
Solstice contains 3 kilometres of strike length along the southwest margin of a prominent magnetic high.
An historical airborne electromagnetic (EM) survey south of Solstice mapped an EM conductor flanking
the magnetic high and extending north from the Beatty River Shear Zone to within 350 metres of Solstice
(Figure 2). No drilling has been completed within the Property and the depth to the unconformity is
estimated to be between 400 and 450 metres.
Next Steps
Initial exploration is expected to include reconnaissance airborne surveys to determine if EM conductors
are present within Solstice. Additional work will include ground-based geophysics for target refinement
and diamond drilling as warranted.
Figure 1 - Cosa's Portfolio of Athabasca Basin Region Uranium Exploration Projects
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9865/185322_1420a84b6466eb29_003full.jpg
Figure 2 - Solstice Property Map
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9865/185322_1420a84b6466eb29_004full.jpg
Marketing Campaign Service Agreement
The Company has entered into a service agreement with Native Ads dated October 26, 2023, pursuant
to which Native Ads will provide a marketing campaign for a total retainer of up to US$80,000, with a
term of up to twelve months or until the retainer is depleted. Under the agreement, Native Ads will
execute a comprehensive digital media advertising campaign for the Company where approximately
75% of the campaign budget will be allocated to cost per click costs, media buying and content
distribution, and search engine marketing. The remaining budget will be allocated for content creation,
web development, advertising creative development, search engine optimization, campaign
optimization, and reporting and data insights services. Neither Native Ads nor any of the directors or
officers of Native Ads have any interest, directly or indirectly, in the securities of Cosa or any right to
acquire such an interest. The engagement of Native Ads is subject to the approval of the TSX Venture
Exchange.
About Native Ads
Native Ads Inc. is a full-service advertising agency that owns and operates a proprietary ad exchange
with over 80 integrated SSPs (supply-side platforms) resulting in daily access to three to seven billion
North American ad impressions.
About Cosa Resources Corp.
Cosa Resources Corp. is a Canadian mineral exploration company based in Vancouver, BC and is
focused on the exploration of its uranium properties in northern Saskatchewan. The portfolio includes
nine uranium exploration properties totaling over 160,000 ha across the Athabasca Basin region.
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 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.
The information contained herein contains "forward-looking statements" within the meaning of the United
States Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the
meaning of applicable Canadian securities legislation. "Forward-looking information" includes, but is not
limited to, statements with respect to the activities, events or developments that the Company expects or
anticipates will or may occur in the future, including, without limitation, planned exploration activities.
Generally, but not always, forward-looking information and statements can be identified by the use of
words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts",
"intends", "anticipates", or "believes" or the negative connotation thereof or variations of such words and
phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken",
"occur" or "be achieved" or the negative connotation thereof. Forward-looking statements in this news
release include, among others, statements relating to: 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 uranium and other
commodities; no escalation in the severity of public health crises; 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 and its ability to obtain financing on reasonable terms.
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 factors. 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 public health
crises; the economic and financial implications of public health crises 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 Company's ability
to successfully integrate acquired assets; 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; the ongoing military conflict around the world; general
economic factors; and the factors identified under the caption "Risk Factors" in the Company's
management discussion and analysis and other public disclosure documents.
Although the Company has attempted to identify important factors that could cause actual results to differ
materially from those contained in the forward-looking information or implied by forward-looking
information, there may be other factors that cause results not to be as anticipated, estimated or
intended. There can be no assurance that forward-looking information and statements will prove to be
accurate, as actual results and future events could differ materially from those anticipated, estimated or
intended. Accordingly, readers should not place undue reliance on forward-looking statements or
information.
The Company undertakes no obligation to update or reissue forward-looking information as
a result of new information or events except as required by applicable securities laws.
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