Traction Uranium Signs Option Agreement to Earn a 100% Interest in the Jackson Lake Uranium Property located in Northeastern Saskatchewan
Traction Uranium Signs Option Agreement to Earn a 100% Interest
in the Jackson Lake Uranium Property located in
Northeastern Saskatchewan
April 1, 2026
(Calgary, AB): Traction Uranium Corp. (CSE: TRAC) (OTC: TRCTF) (FRA: Z1K) (the “Company”
or “Traction”) is pleased to announce that it has entered into an option agreement (the “Agreement”) with
GEOMAP Exploration Inc. (the “Optionor”). Under the Agreement, Traction has the right to earn a 100%
interest (the “ Option”) in the Optionor’s Jackson Lake Uranium Property (the “ Property”) located in
northeastern Saskatchewan.
The Property covers approximately 2,960 hectares of Crown land in northeastern Saskatchewan,
strategically located within the prospective Wollaston Domain along the eastern margin of the Athabasca
Basin. This Paleoproterozoic basement terrane, part of the Trans -Hudson Orogen, is prospective for
unconformity-related uranium mineralization and hosts some of the world’s highest -grade uranium
deposits. The Property exhibits favorable exploration characteristics, including graphitic conductor
corridors, basement fault structures, and prospective unconformity settings, along with associated
hydrothermal alteration signatures. Historical records also identify a documented uranium showing, further
supporting its exploration potential.
Traction may exercise the Option by funding $400,000 in exploration work , making an aggregate of
$100,000 in cash payments, and issuing an aggregate of 1,350,000 common shares of Traction (“Common
Shares”) over the next two calendar years, as shown in the table below. Traction may accelerate the exercise
of the Option at any time by funding such exploration work and completing such cash payments and
Common Shares issuances at such earlier times as it determines. If the Agreement is terminated prior to the
exercise of the Option, all consideration paid will be forfeited and the Optionor will retain its 100% interest
in the Property . During the term of the Agreement , Traction will act as operator and will have sole and
exclusive right to enter on and conduct exploration operations on the Property.
Any Common Shares issued as part of the exercise of the Option will be subject to a statutory hold period
of four months and one day from the date of issuance, pursuant to Canadian securities laws and to any
additional hold period applicable pursuant to stock exchange policies . The transactions contemplated by
the Agreement are expected to close on or about April 8, 2026 (the “Closing Date”), and remain subject to
receipt of approval from the Canadian Securities Exchange.
Summary of the Agreement Terms.
Timing Exploration
Expenditures
Cash Payments Common
Shares
Within five (5) business days of the
Closing Date.
N/A $20,000 1,100,000
On or before the date that is one (1)
calendar year after the Closing Date.
$150,000 $30,000 100,000
On or before the date that is two (2)
calendar years after the Closing Date.
$250,000 $50,000 150,000
Total $400,000 $100,000 1,350,000
Qualified Person
Dr. Jared Suchan, CEO and Director of the Company, and a Qualified Person within the meaning of National
Instrument 43-101 – Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific
and technical contents of this news release.
For a discussion of the Company’s QA/QC and data verification processes and procedures, please see its
most recently-filed technical report, a copy of which may be obtained under the Company’s profile at
www.sedarplus.ca.
About Traction Uranium Corp.
Traction is in the business of mineral exploration and the development of discovery prospects in Canada,
including its uranium project in the world-renowned Athabasca Region.
We invite you to find out more about our exploration-stage activities across Canada’s Western region at
https://tractionuranium.com/.
On Behalf of The Board of Directors
Jared Suchan
CEO and Director
(604) 425-2271
Forward-Looking Statements
Certain statements contained in this news release constitute forward-looking information including: the
exercise of the Option, the issuance of Common Shares; the completion of cash payments; the funding of
exploration expenditures; the future prospects of the Property; and the Company’s expectations and future
business plans. These statements relate to future events or future performance. The use of any of the words
“could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and
statements relating to matters that are not historical facts are intended to i dentify forward -looking
information and are based on the Company’s current belief or assumptions as to the outcome and timing of
such future events. Although such statements are based on reasonable assumptions of the Company’s
management, there can be no assurance that any conclusions or forecasts will prove to be accurate.
Forward-looking information involves known and unknown risks, uncertainties and other factors which
may cause the actual results, performance or achievements to be materially different from any future
results, performance or achievements expressed or impli ed by the forward -looking information. Such
factors include: the risk that the Company does not exercise the Option or acquire any interest in the
Property, risks inherent in the exploration and development of mineral projects, including risks relating
to changes in project parameters as plans continue to be redefined and the risk that exploration and
development activities will cost more than the amount budgeted for such activities by the Company; access
and supply risks; operational risks; regulatory risks, including risks relating to the acquisition of the
necessary licenses and permits; and financing, capitalization and liquidity risks. The forward-looking
information contained in this release is made as of the date hereof, and the Company is not obligated to
update or revise any forward-looking information, whether as a result of new information, future events
or otherwise, except as require d by applicable securities laws. Because of the risks, uncertainties and
assumptions contained herein, investors should not place undue reliance on forward-looking information.
The foregoing statements expressly qualify any forward-looking information contained herein.
The CSE has neither approved nor disapproved the information contained herein.