Saskatchewan Uranium Mines: How Canada Became the World’s Premier Uranium Mining Destination

SASKATOON, Saskatchewan – Cosa Resources Corp. (TSX.V: COSA) (“Cosa” or the “Company”) is issuing this corporate review to examine the macroeconomic and geological fundamentals establishing northern Saskatchewan as the preeminent jurisdiction for global uranium mining. As international nuclear power generation expands in response to growing baseload electricity demands and decarbonization mandates, the Athabasca Basin in northern Saskatchewan continues to solidify its status as the world’s most critical province for uranium mines in Canada and internationally.

Geological Superiority and Jurisdictional Stability

The Athabasca Basin is globally recognized for hosting the highest-grade uranium deposits discovered to date. Mineralization within the basin frequently exhibits grades ranging from 10 to 100 times the global average for uranium deposits, fundamentally altering the economics of extraction and processing. These unconformity-related deposits are characterized by high-grade uranium concentrations localized at or near the geological contact between overlying Athabasca Group sandstone and underlying Archean-Paleoproterozoic basement rocks.



Compounding this geological advantage, Saskatchewan consistently ranks among the top three mining jurisdictions globally in the Fraser Institute Annual Survey of Mining Companies. This high ranking reflects transparent regulatory frameworks, established indigenous partnerships, robust infrastructure, and unwavering provincial support for resource development. For institutional investors and mining conglomerates deploying capital into the sector, the province provides an optimal intersection of extraordinary geological endowment and regulatory stability.

Current Producing Assets: The Backbone of Global Supply

The eastern Athabasca Basin is home to major producing operations operated by Cameco Corporation (TSX: CCO (NYSE: CCJ)), including Cigar Lake and McArthur River, which continue to demonstrate the basin’s capacity to host world-class high-grade uranium deposits of global significance. For Cosa Resources Corp. (TSX.V: COSA), those operations serve not only as evidence of Saskatchewan’s exceptional endowment, but also as a direct analogue for the type of discovery opportunity the Company is pursuing. Cosa’s technical team has previously played integral roles in the discovery of IsoEnergy Ltd.’s (TSX.V: ISO (NYSE: ISEN)) Hurricane deposit, Denison Mines Corp.’s (TSX: DML (NYSE: DNN)) Gryphon deposit, and 92 Energy’s GMZ zone, and is now applying that same exploration expertise at the Murphy Lake North Joint Venture.

Next-Generation Mines Under Construction

As existing operations mature, the district is transitioning into its next major growth phase with two landmark projects receiving formal construction approvals in early 2026:

• Denison Mines Corp. (TSX: DML (NYSE: DNN)) achieved a Final Investment Decision (FID) for its flagship Phoenix deposit within the Wheeler River Project, following regulatory approval from the Canadian Nuclear Safety Commission (CNSC) in February 2026. Phoenix is slated to become Canada’s first commercial in-situ recovery (ISR) uranium operation, boasting an exceptionally high average grade.

• NexGen Energy Ltd. (TSX: NXE (NYSE: NXE)) received its formal CNSC Licence to Prepare Site and Construct for the Rook I Project (anchored by the Arrow deposit) in March 2026. Rook I represents the largest development-stage uranium deposit in Canada, designed to become a premier, multi-decade underground mining operation in the southwestern Athabasca Basin.

The Exploration Boom and District-Scale Potential

Driven by sustained structural deficits in the global uranium market, exploration activity across the Athabasca Basin has intensified significantly. Major and junior explorers alike are aggressively expanding drilling campaigns across prolific trends:

• CanAlaska Uranium Ltd. (TSX.V: CVV) continues to delineate high-grade mineralization at its West McArthur Joint Venture, intersecting significant radiometric equivalents.

• Paladin Energy Ltd. (ASX: PDN) advances exploration at the Atlas zone within its Patterson Lake South (PLS) property.



• Cosa Resources Corp. maintains a commanding land position comprising approximately 237,000 hectares across multiple 100% owned and joint-venture projects situated within or immediately adjacent to established eastern Athabasca uranium corridors.

Cosa’s technical team brings an unparalleled discovery track record to this portfolio, having previously played integral roles in the discovery of IsoEnergy Ltd.’s (TSX.V: ISO (NYSE: ISEN)) Hurricane deposit (which earned the team the prestigious AME Colin Spence Award in 2022), Denison Mines' Gryphon deposit, and 92 Energy's GMZ zone. The Company’s core Murphy Lake North Joint Venture (held 70/30 with Denison Mines) is located within three kilometers of the Hurricane deposit, where drilling has already intercepted broad zones of hydrothermal alteration and anomalous radioactivity up to 13,900 CPS.

Executive Commentary

Keith Bodnarchuk, President and Chief Executive Officer of Cosa Resources Corp., provided strategic commentary regarding the Company's operational trajectory within the Athabasca Basin:

"The structural supply-demand fundamentals governing the global uranium market validate the strategic importance of premier mining jurisdictions like northern Saskatchewan. Our expansive land portfolio positions Cosa directly within prolific uranium corridors where advanced exploration techniques and our team's proven technical expertise create significant leverage for our shareholders. As our upcoming drill programs advance across Murphy Lake North, Darby, and Aurora, we remain focused on systematically unlocking district-scale discovery value within the world's most productive uranium basin."

About Cosa Resources Corp.

Cosa Resources Corp. (TSX.V: COSA) is a Canadian mineral exploration company headquartered in Vancouver, British Columbia, focused on the acquisition and exploration of high-grade uranium deposits in Saskatchewan's Athabasca Basin. The Company holds a portfolio of roughly 237,000 hectares across multiple 100% owned and joint-venture projects in the region. Managed by an award-winning technical team with a proven track record of major discoveries, Cosa is well-capitalized and positioned to capitalize on the ongoing structural uranium bull market. For more information, visit cosaresources.com.

Cautionary Statement Regarding Forward-Looking Information:

This blog post contains forward-looking statements within the meaning of applicable securities laws. Forward-looking statements are typically identified by words such as "believe," "expect," "anticipate," "intend," "estimate," "postulate," and similar expressions, or are those which refer to future events. Such statements include, but are not limited to, the Company's exploration plans, drilling schedules, joint venture operations, and market fundamentals. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are subject to significant risks and uncertainties, including mineral exploration risks, commodity price volatility, regulatory approvals, and operational hazards. Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by applicable securities laws.