ZTEM Survey to Map Deep Conductive Targets Across Underexplored Uranium Corridor Near McArthur River Mine
CALGARY, Alberta, April 30, 2025 (GLOBE NEWSWIRE) -- Global Uranium Corp. (CSE: GURN | OTC: GURFF | FRA: Q3J) (the "Company" or “Global”) and Cosa Resources Corp. (TSX-V: COSA) (OTCQB: COSAF) (FSE: SSKU) (“Cosa”) are pleased to announce that geophysical surveying has commenced at the Astro Uranium Project in the eastern Athabasca Basin, Saskatchewan. This fully funded program marks the first phase of Global Uranium’s multi-stage earn-in agreement with Cosa announced by the Company on April 9th, 2025, giving Global the right to earn up to an 80% interest in the project.
The helicopter-borne ZTEM survey, carried out by Geotech Ltd., is designed to provide property-wide electromagnetic coverage to identify deep basement conductors, structural features, and zones of alteration commonly associated with high-grade uranium deposits. The survey will total over 1,460 line-kilometres and will significantly expand on the less than 25% of the property previously surveyed.
“Launching this comprehensive airborne survey underscores our strategic commitment to unlocking the full exploration potential of the Astro Project,” said Ungad Chadda, CEO of Global Uranium. “Our focus is on high-impact exploration in proven uranium jurisdictions, and Astro fits squarely within that vision. This program is a key step toward defining high-priority drill targets in a region known for world-class uranium deposits.”
The ZTEM data will be interpreted by Condor Consulting Inc., recognized experts in Athabasca Basin geophysics, and will inform a follow-up campaign involving Ambient Noise Tomography (ANT), ground EM surveys, and drill testing of the most prospective areas in 2025 and 2026.
The Astro Project is located approximately 28 kilometres from Cameco’s McArthur River Mine and contains over 40 kilometres of untested magnetic low strike length with limited modern geophysical coverage. Historical drilling in the area has identified alteration features and geochemical signatures associated with unconformity-style uranium systems. Global Uranium’s exploration approach is designed to rapidly and efficiently assess these targets through modern survey techniques and strategic drilling.
QUALIFIED PERSON
Jared Suchan, Ph.D., P.Geo., Global Uranium’s Vice President of Exploration and Qualified Person under National Instrument 43-101, has reviewed and approved the contents of this news release.
ABOUT GLOBAL URANIUM CORP.
Global Uranium Corp. focuses on exploring and developing uranium assets primarily in North America. In addition to its rights under the Option Agreement, the Company currently has rights to the following other uranium projects: the Wing Lake Property in the Mudjatik Domain of Northern Saskatchewan, Canada; the Northwest Athabasca Joint Venture with Forum Energy Metals Corp. and NexGen Energy Ltd. in the Northwest Athabasca region of Saskatchewan, Canada; and the Great Divide Basin District Projects, the Gas Hills District Projects, and the Copper Mountain District Projects in Wyoming, USA.
ABOUT COSA RESOURCES CORP.
Cosa Resources is a Canadian uranium exploration company operating in northern Saskatchewan. Its 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. In addition to Hurricane, Cosa personnel led teams or had integral roles in the discovery of Denison’s Gryphon deposit.
Certain statements contained in this press release constitute forward-looking information. 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 identify forward-looking information and are based on the Company’s current belief or assumptions as to the outcome and timing of such future events.
In particular, this press release contains forward-looking information relating to, among other things: the Project, including the prospectivity of the Project, itspotential to host extensions of the McArthur River/Fox Lake Structural Corridor and other beneficial geological trends; the Company’s ability to establish the Project as a significant contributor to the Athabasca Basin's uranium landscape; and the Company’s and Cosa’s exploration plans with respect to the Project, including the Project’s candidacy for advanced geophysical exploration and drilling to delineate compelling targets. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information, including the assumption that: the historical work done with respect to the Project is representative of the actual geological nature of the Project; that the Project may share the geological characteristics of nearby projects, deposits and mines; and that the Company and Cosa will successfully collaborate with respect to the exploration of the Project pursuant to the Option Agreement, including by progressing advanced geophysical exploration and drilling. Those assumptions and factors are based on information currently available to the Company. 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 implied by the forward-looking information. Such factors include: the risk that the Company does not earn-in to any interest in the Project pursuant to the Option Agreement; risks inherent in the Company and Cosa’s joint exploration of the Project, including the risk that the Company and Cosa disagree on the manner or timeline for the exploration of the Project and/or are unable to collaborate on the exploration of the Project successfully pursuant to the Option Agreement; risks inherent in the exploration and development of mineral deposits, including risks relating to receiving requisite permits and approvals, changes in project parameters or delays as plans continue to be redefined, that mineral exploration is inherently uncertain and that the results of mineral exploration may not be indicative of the actual geology or mineralization of a project; that mineral exploration may be unsuccessful or fail to achieve the results anticipated by the Company; that the characteristics of the Project may not reflect the characteristics of nearby projects, deposits and mines; operational risks; regulatory risks, including risks relating to the CSE’s approval of the share issuances pursuant to the Option Agreement and the acquisition of the necessary licenses and permits to conduct exploration on the Project; financing, capitalization and liquidity risks; title and environmental risks; and risks relating to the failure to receive all requisite regulatory approvals. 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 required 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 Canadian Securities Exchange has not reviewed, approved, or disapproved the contents of this press release.
