Cosa Resources Announces TSXV Conditional Approval
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Vancouver, British Columbia--(Newsfile Corp. - December 2, 2024) - Cosa Resources Corp. (TSX-V: COSA) (OTCQB: COSAF) (FSE: SSKU) ("Cosa" or the "Company") is pleased to announce that the TSX Venture Exchange (the "TSXV") has conditionally approved Cosa's acquisition (the "Transaction") of a 70% interest in a portfolio of prospective uranium projects from Denison Mines Corp. (TSX: DML) (NYSE American: DNN).
The Company is also pleased to announce that trading of its common shares on the TSXV will resume at market open on Monday, December 2, 2024. Trading of the Company's common shares on the TSXV was halted on November 26, 2024 in accordance with the policies of the TSXV in connection with the Company's announcement of the Transaction.
Further details on the Transaction can be found in the Company's news release dated November 27, 2024.
Cosa expects the Transaction to be completed by early 2025.
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 100% owned and Cosa operated Joint Venture projects in the Athabasca Basin region, all of which are underexplored, and the majority reside within or adjacent to established uranium corridors.
Cosa's award-winning management team has a long track record of success in Saskatchewan. In 2022, members of the Cosa team were awarded the AME Colin Spence Award for their previous involvement in discovering IsoEnergy's Hurricane deposit. Prior to Hurricane, Cosa personnel led teams or had integral roles in the discovery of Denison's Gryphon deposit and 92 Energy's Gemini Zone and held key roles in the founding of both NexGen and IsoEnergy.
Cosa's primary focus through 2024 was initial drilling at the 100% owned Ursa Project, which captures over 60-kilometres of strike length of the Cable Bay Shear Zone, a regional structural corridor with known mineralization and limited historical drilling. It potentially represents the last remaining eastern Athabasca corridor to not yet yield a major discovery, which the Company believes is primarily due to a lack of modern exploration. Modern geophysics completed by Cosa in 2023 identified multiple high-priority target areas characterized by conductive basement stratigraphy beneath or adjacent to broad zones of inferred sandstone alteration - a setting that is typical of most eastern Athabasca uranium deposits. Guided by a recently completed Ambient Noise Tomography (ANT) survey, Cosa's second and most recent drilling campaign at Ursa intersected a significant zone of unconformity-style sandstone hosted structure and alteration underlain by several intervals of anomalous radioactivity in the basement rocks. Follow-up is currently in planning for 2025.