CALGARY, Alberta, Oct. 19, 2026 (GLOBE NEWSWIRE) — Traction Uranium Corp. (CSE: TRAC) (OTC: TRCTF) (FRA: Z1K) (the “Company” or “Traction”) is pleased to announce completion of its initial diamond drilling program at the Aurora Uranium Project (“Aurora” or the “Project”) in Saskatchewan’s Athabasca Basin region. The program comprised two holes totalling 541 metres within the A1 target area. Both holes intersected graphitic basement rocks with intervals of brittle faulting. Significant hydrothermal alteration was not intersected, and geochemical results are pending. Cosa Resources Corp. (“Cosa”), the owner and operator of Aurora, conducted the program with funding from Traction. Under the option agreement dated February 10, 2026, Traction may earn up to an 80% interest in the Project by funding $9.15 million in exploration expenditures and completing the required cash and share payments.
The program tested two conductive anomalies in the southern portion of Aurora, both within the A1 target area. The anomalies were identified by Cosa’s 2024 airborne VTEM electromagnetic survey and lie up-ice of radiometric anomalies identified by the property-wide magnetic and radiometric survey funded by Traction in 2026. The radiometric anomalies were interpreted as potentially reflecting uranium-bearing source rocks. Both holes were located outside the mapped edge of the Athabasca Basin and did not intersect Athabasca sandstone. Core logging identified basement rocks interpreted as metasedimentary, including graphitic units containing brittle fault zones with increased graphite content. Hole AU26-01 also intersected granitic gneiss interpreted to overlie the metasedimentary sequence.
These are the first known drill intersections of faulted graphitic basement at Aurora. The observations provide new geological information for evaluating the conductive targets. Pending geochemical results will help assess the significance of the rocks and structures intersected. Following a significant extension of the first hole based on encouraging results, and higher-than-anticipated mobilization costs, Traction elected to conclude the program after the second hole to manage expenditures within the program budget.
“This initial program has provided our first drill information from the A1 target area, confirming graphitic rocks and fault structures associated with the conductive targets,” said Jared Suchan, Chief Executive Officer of Traction. “We will assess these observations with Cosa alongside the pending geochemical results and existing geophysical data to guide further exploration at Aurora.”
The drilling information and pending geochemical results will be reviewed alongside the existing geological and geophysical datasets to refine the interpretation of A1 and prioritize further exploration. Cosa is planning follow-up work for 2027, expected to include additional target generation and a larger drill program. The scope and timing remain subject to technical review, budgeting and available funding. The 2026 program evaluated one target area. Other target areas identified through the airborne surveys remain untested.
Figure 1. Location of the Aurora project.
Figure 2. Locations of the drill target areas.
Qualified Person
Jared Suchan, Ph.D., P.Geo., 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 http://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
info@tractionuranium.com
Forward-Looking Statements
Certain statements contained in this news 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”, “planned”, “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. Forward-looking information in this news release includes, but is not limited to, statements regarding the completion of demobilization of personnel and equipment from the Aurora Project; the compilation, review and interpretation of drilling information alongside geophysical data; the timing and content of future updates from the Company; the planning of the next stage of exploration at the Aurora Project; the Company’s ability to earn an interest in the Aurora Project under the option agreement; and the Company’s near and longer term exploration plans.
In making the forward-looking statements in this news release, the Company has applied several material assumptions, including that demobilization will be completed as planned; that Cosa, as operator, will provide drilling information to the Company in a timely manner in accordance with the option agreement; that the drilling information and geophysical data can be compiled and reviewed within a reasonable time; that weather and site access conditions will permit future exploration activities; that all necessary permits and approvals will be maintained; and that the Company will have sufficient funding to carry out future exploration and meet its obligations under the option agreement. 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 exercise the option or acquire any interest in the Aurora Project; the risk that the drilling information does not identify uranium mineralization or does not confirm that geophysical or conductive anomalies are caused by uranium-bearing sources; delays in the compilation, review or interpretation of drilling information; the Company’s reliance on Cosa as owner and operator of the Project, including for the provision of drilling information; weather, seasonal and site access conditions; 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; fluctuations in uranium prices; and financing, capitalization and liquidity risks. The forward-looking information contained in this news 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 CSE has neither approved nor disapproved the information contained herein.
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