Cosa Resources Corp. announced the completion of the winter 2024 diamond drilling program at its 100% owned Ursa uranium Project in the Athabasca Basin, Saskatchewan (Ursa or the Property). Highlights: Three holes totalling 3,438 meters completed at the Kodiak target area.

Drill hole UR24-03 intersected structures, hydrothermal alteration and minor sulphide Mineralization in the Athabasca sandstone several hundred metres above the unconformity. High-strain ductile basement fabrics with late brittle overprint were identified. Sufficient supplies and equipment have been mobilized to conduct an expanded summer program.

Three drill holes totalling 3,438 metres were completed during winter 2024 to assess the Kodiak target area for the presence of structure and hydrothermal alteration characteristic of large unconformity-related uranium deposits of the Athabasca Basin. Kodiak is characterized as a complex zone of basement conductivity with several conductors identified by ground-based Stepwise Moving Loop Transient Electromagnetic (SWML-TEM) surveying proximal to a sandstone-hosted conductivity anomaly defined by airborne MobileMTTM surveying. Immediately down-ice of Kodiak are overlapping zones of anomalous illite, uranium, and boron concentrations as defined by historical boulder sampling work Drill hole UR24-01 was designed to test a modelled subvertical SWML-TEM conductor proximal to a sandstone conductivity anomaly from the 2023 MobileMTTM survey results.

Minor structures and alteration were intersected in the sandstone including a weak breccia with dravite infill from 982.9 to 984.0 metres. The unconformity was intersected at 1,032.0 metres and basement comprised non- conductive metasediments dipping to the northwest. Brittle reactivation of early ductile structures was observed as quartz-carbonate veining within mylonitized paragneiss.

Drill hole UR24-02 targeted a modelled southeast-dipping conductor 400 metres northwest of the UR24- 01 target and evaluated a broad width of sandstone between the two holes for favourable alteration and structure. No anomalous results were intersected in the sandstone. Basement comprises northwest dipping, highly strained, locally graphitic and pyritic augen-textured cordierite pelitic gneisses.

Minor structures, including graphitic slips and faults, were intersected and a broad zone of weak to moderate sericitization and argillization extends approximately 110 metres below the unconformity, terminating below a cluster of discrete graphitic faults. Drill hole UR24-03 was collared 920 metres northwest of UR24-02 and drilled southeast at -70° to evaluate a broad width of sandstone for favourable structure and alteration and to further define basement geology in the Kodiak area. Between 181 and 224 metres are several metre-scale structural zones with fracturing and faulting which are variably bleached, silicified, desilicified, and hematitized.

Unaltered and unstructured sandstone followed to 536 metres. A broad zone of anomalous structure and hydrothermal alteration from 536 to 728 metres is pervasively bleached and hosts fracture- and fault-controlled sulphides, clay, dravite, chlorite, siderite, drusy quartz, and silicification. Minor structures are common in this interval and include slickensided surfaces and faulting.

Notably, from 713.5 to 756 metres are several occurrences of massive to semi-massive dravite including dravite-filled veinlets and breccias comprising bleached and/or hematitized sandstone fragments set in a dravite matrix. Alteration associated with the dravitic structures is variable and includes drusy quartz, hydrothermal hematite, magnetite, siderite, and sulphides. Below 756 metres, only minor alteration and structure were intersected to the sub-Athabasca unconformity at 1033.5 metres.

Basement in UR24-03 comprises high-strain, cordierite- augen pelitic gneiss and lesser semipelitic gneiss. Intermittent sericite alteration is present throughout the basement with intervals of minor graphitic faulting between 1074.5 and 1100.0 metres. The intersection of a broad zone of structure and hydrothermal alteration in the medial sandstone of UR24-03, including sulphides and dravitic breccia, is considered highly encouraging and has validated the Company's target area selection and drilling strategy.

The UR24-03 alteration zone was intersected 250 to 460 metres vertically above the sub-Athabasca unconformity. The down-dip projection of the dravitic zone to the unconformity, located 150 metres northwest of the UR24-03 unconformity intercept, represents a compelling follow-up target for the upcoming summer drilling program. Additional work is warranted at the Kodiak target area and throughout the Project.

All geochemical and most clay spectroscopy results remain pending, and these results will influence follow-up at Kodiak. To aid in strike prioritization, the evaluation of existing target areas, and the generation of new target areas, Cosa is planning an extensive Ambient Noise Tomography (ANT) survey at Ursa covering the 27- kilometres of conductive strike which hosts the Kodiak, Kodiak North, Smokey, and Panda West target areas (Figure 1). This conductive trend also hosts all three of the weakly mineralized historical drill holes on the Project.

ANT has only recently been deployed in the Athabasca Basin and initial results suggest it may be an effective tool for defining large zones of hydrothermal alteration at depth, potentially representing a relatively cost-effective alternative to conventional strike prioritization tools such as DC- Resistivity surveys. Cosa is also pleased to report that during winter drilling operations the Company utilized the winter access trail to mobilize sufficient fuels, equipment, and supplies to Ursa to conduct the planned ANT surveys and summer drilling with minimal aircraft support.