Traction Uranium Key Lake South Property Receives Drill Permits from the Saskatchewan Ministry of Environment
Traction Uranium Key Lake South Property Receives Drill Permits
from the Saskatchewan Ministry of Environment
Winter 2023 KLS Drill Program to follow up on “Radioactive Black Soil” that
Assayed High Grade Uranium Mineralization (0.93 wt.% U3O8 and 1180 ppm
Cobalt) and a “Radioactive Swamp” Discovered in Fall of 2022
February 14th, 2023
(Calgary, AB): Traction Uranium Corp. (CSE: TRAC) (OTC: TRCTF) (FRA: Z1K) (the
“Company” or “ Traction”) is pleased to announce that, along with UGreenco Energy Corp ., it has
received (i) diamond drilling, (ii) borehole surveys, (iii) trail development and (iv) temporary work camp
permits from the Saskatchewan Ministry of Environment (collectively, the “ Permits”) for the
Company’s upcoming winter 2023, 2,000 metre diamond drill program at the Key Lake South Property
(“KLS Property”), such Permits are valid to July 31, 2024.
Lester Esteban, Chief Executive Officer of the Company, stated: “after our team encountered high -grade
uranium mineralization (see news release dated November 14, 2022) in the “black soil” and discovered a
new radioactive anomaly the “radioactive swamp”, we have been busy preparing to return to the KLS
Property with the drill. Receipt of the drill permits from the Saskatchewan Ministry of Environment brings
us one step closer to being fully permitted for our 2023 winter drill program at the KLS Property.”
About the Upcoming KLS Drill Program:
Phase 1 diamond drilling is planned with 2,000 metres, targeting areas with extreme surface urani um
anomalies, including the “black soil” anomaly, the “radioactive swamp” and the “Athabasca Sandstone”
mapped in 1973 ( referenced from Assessment Report # 74H04-001, (SMAD) Saskatchewan Mineral
Assessment Database). Most of the drill targets are situated at the edge of the broad gravity-lows identified
in the ground gravity survey of 2022 (see Figure 1).
About the “Black Soil” and “Radioactive Swamp”:
The previously unknown radioactive anomalies discovered by Traction’s exploration team during the
ground program of 2022 (see news release dated September 27, 2022) were the “radioactive swamp” and
“black soil”. Sampling of the “black soil”, where the horizon had an observed thickness of approximately
30 centimetres, returned 0.93 wt.% U308, 1180 ppm Cobalt, 625 ppm Nickel and 196 ppm Boron (see news
release dated November 14, 2022). Further sampling is required, the “radioactive swamp” is accessible in
the winter when the swamp is frozen and may host uranium anomalies that may be similar to the “black
soil”. An overburden drilling program is being considered to test for uranium mineralization near the
surface in the overburden/till.
Drill Targets (Figure 1):
Figure 1. The proposed phase 1 diamond drilling of 2023. Black dots represent proposed drill collars, green squares represent
surface radioactive anomalies discovered in the ground program of 2022, red shaded areas represent surface uranium anomalies
(uranium content >2.345 ppm) from the airborne gamma-ray spectrometric survey (Ford et al., 2006*) and the black shaded area
represents the “Athabasca Sa ndstone” mapped from cobbles in till in 1973 (referenced from Assessment Report # 74H04-001,
(SMAD) Saskatchewan Mineral Assessment Database). Actual location of drill collars may change upon ground conditions in the
field.
*Ford, K.L., Carson, J.M., Coyle, M.,Delaney, G., and Shives, R.B.K.
2006: Geophysical Series – NTS 74H/4 – Zimmer Lake, Saskatchewan; Geolo gical Survey of Canada, Open File 5038,
Saskatchewan Industry and Resources, Open File 2006-12, scale 1:50 000.
About the Property
The KLS Property is located approximately 6 kilometers to the southwest of the Key Lake uranium mill
and in close vicinity to modern uranium mining facilities and highway transportation in northern
Saskatchewan. Geologically, it sits at the southeastern edge of the Proterozoic Athabasca Basin. Recent
discovery of Triple R and Arrow deposits has demonstrated further potential of high-grade uranium at the
edge of the basin.
About Traction Uranium Corp.
Traction Uranium Corp. is in the business of mineral exploration and the development of uranium discovery
prospects in Canada, including its three uranium projects in the world-renowned Athabasca Region.
We invite you to find out more about our exploration -stage activities across Canada’s Western region at
www.tractionuranium.com.
Qualified Person
The scientific and technical content of this news release has been reviewed and approved by Linglin Chu,
M.Sc., P. Geo., who is a “Qualified Person” as defined by National Instrument 43 -101, Standards of
Disclosure for Mineral Projects, and is a director of the Company and Chief Executive Officer of UGreenco
Energy Corp. The information provides an indication of the exploration potential of the KLS Property but
may not be representative of expected results.
On Behalf of The Board of Directors
Lester Esteban
Chief Executive Officer
+1 (604) 561 2687
Forward-Looking Statements
This news release includes forward -looking statements that are subject to risks and uncertainties,
including with respect to the Company’s phase 1 diamond drilling program and required sampling. The
Company provides forward-looking statements for the purpose of conveying information about current
expectations and plans relating to the future and readers are cautioned that such statements may not be
appropriate for other purposes. By its nature, this information is subject to inherent risks and
uncertainties that may be general or specific and which give rise to the possibility that expectations,
forecasts, predictions, projections, or conclusions will not prove to be accurate, that assumptions may
not be correct, and that objectives, strategic goals and priorities will not be achieved. These risks and
uncertainties include risks that the phase 1 diamond drilling program and required sampling will not be
completed as contemplated, or at all, risks that the phase 1 diamond drilling program and required
sampling may not yield the types of information anticipated, and those risks identified and reported in
the Company’s public filings under the Company’s SEDAR profile at www.sedar.com. Although the
Company has attempted to identify important factors that could cause actual actions, events, or results
to differ materially from those described in forward-looking information, there may be other factors that
cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance
that such information will prove to be accurate as actual results and future events could differ materially
from those anticipated in such statements. The Company disclaims any intention or obligation to update
or revise any forward-looking information, whether as a result of new information, future events or
otherwise unless required by law.
The CSE has neither approved nor disapproved the information contained herein.