Traction Uranium Signs Option Agreement to Earn up to 80% in the Aurora Uranium Project, Southeastern Athabasca Basin
MWN-AI** Summary
On February 10, 2026, Traction Uranium Corp. (CSE: TRAC) announced it has entered into an option agreement to potentially earn up to an 80% interest in the Aurora uranium project, located in the southeastern Athabasca Basin of Saskatchewan. This project is approximately 17 kilometers long and is situated east of the Key Lake uranium mill. Significant geological features, including historical zones of hydrothermal alteration, suggest exploration potential, particularly since no diamond drilling has occurred at Aurora since 1979.
The agreement requires Traction to fund a series of exploration activities and make cash and share payments across five phases, with a total commitment of $9.15 million in exploration expenditures and $1.5 million in cash payments. Each phase also comes with specific deadlines for payment and exploration, with Traction having the ability to accelerate these phases at its discretion. If Traction were to terminate the agreement before completing the first two phases, all payments made would be forfeited, reverting the project interest back to Cosa.
Cosa Resources Corp., the current project owner, will act as the project operator during the earn-in period and charge an operator fee. Once Traction completes the requirements for a 65% interest, it can choose to take over the operational responsibility of the project.
This strategic move aligns with Traction's focus on uranium exploration in a known rich mining area. By securing a stake in the underexplored Aurora project, Traction potentially positions itself for significant growth in the uranium sector, particularly amid increasing global demand for nuclear energy. The news reflects the ongoing interest and investment landscape in uranium mining in Canada, specifically in the historically prolific Athabasca Basin.
MWN-AI** Analysis
Traction Uranium Corp.’s recent option agreement with Cosa Resources Corp. marks a significant development in its strategy within the high-potential Athabasca Basin. Under this agreement, Traction can earn up to an 80% stake in Cosa’s Aurora uranium project by investing up to CAD 9.15 million over multiple phases of exploration and payments. This structured approach aligns with the increased global demand for uranium, driven by a resurgence in interest in nuclear energy as countries look to reduce carbon emissions.
Investors should view this opportunity as a pivotal moment for Traction Uranium, particularly as Cosa has a strong operational track record and established expertise in the region. The absence of recent drilling at Aurora since 1979, combined with identified zones of hydrothermal alteration, suggests untapped potential. The 2024 geophysical surveys highlight specific target areas, which could lead to promising drilling campaigns, thereby increasing the potential for significant uranium discoveries.
Furthermore, the breakdown of the agreement into five phases allows Traction flexibility in managing its exploration budget while gradually solidifying its ownership stake. However, investors should be cautious of the risks involved, particularly the potential for cost overruns during exploration and overall volatile uranium market conditions. The phased nature of the investment means Traction is committed only to the initial phases unless it finds compelling evidence to proceed further.
Overall, Traction Uranium’s strategic move to enhance its property portfolio in the Athabasca Basin, coupled with favorable market dynamics for uranium, presents a compelling narrative. However, investors should monitor the execution of exploration plans and market responses closely, as successful outcomes could significantly uplift the company's valuation and position within the sector.
**MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.
CALGARY, Alberta, Feb. 11, 2026 (GLOBE NEWSWIRE) -- Traction Uranium Corp. (CSE: TRAC) (OTC: TRCTF) (FRA: Z1K) (the “Company” or “Traction”) is pleased to announce that it has entered into an option agreement (the “Agreement”) with Cosa Resources Corp. (“Cosa”), effective February 10, 2026. Under the Agreement, Traction has the right to earn up to an 80% interest in Cosa’s Aurora uranium project (the “Project” or “Aurora”) in northern Saskatchewan.
The Aurora project spans approximately 17 kilometres of prospective strike along the southeastern margin of the Athabasca Basin, about 16 kilometres east of the Key Lake uranium mill and past-producing mine (Figure 1). Sandstone cover is interpreted to be less than 100 metres thick across the northern portion of the Project and absent across the remainder. No diamond drilling has been completed at Aurora since 1979; however, a review of historical drill logs identified multiple zones of hydrothermal alteration. In 2024, Cosa completed airborne gravity-gradient and VTEM (Versatile Transient Electromagnetic) surveys that outlined initial target areas for follow-up.
Traction can earn up to an 80% interest in Aurora by solely funding exploration work and completing a series of cash and share payments over five earn-in phases (Table 1). Traction may accelerate the earn-in and advance the exploration work plan at its discretion. If Traction terminates the Agreement prior to completion of Phases 1 and 2, all consideration paid will be forfeited and Cosa’s interest will revert to 100%. During the earn-in period, Cosa will act as operator and will be entitled to charge an operator fee. Upon completion of the Phase 4 earn-in requirements (65% interest), Traction will have the option to assume operatorship of the Project. Any Traction shares issued to Cosa as part of an option exercise payment (see table below) will be subject to a statutory hold period of four months and one day from the date of issuance, pursuant to Canadian securities laws.
Table 1. Summary of the option agreement terms.
| Exploration Expenditures | Cash Payments | Shares of Traction | Traction Total Ownership | Deadline | |
| Signing | $25,000 | 250,000 | 0% | ||
| Phase 1 | $1,150,000 | $75,000 | 500,000 | 20% | 31 December 2026* |
| Phase 2 | $2,000,000 | $100,000 | 500,000 | 35% | 31 December 2027 |
| Phase 3 | $2,000,000 | $100,000 | 750,000 | 49% | 31 December 2028 |
| Phase 4 | $2,000,000 | $200,000 | 1,000,000 | 65% | 31 December 2029 |
| Phase 5 | $2,000,000 | $1,000,000 | 2,000,000 | 80% | 31 December 2030 |
| Total | $9,150,000 | $1,500,000 | 5,000,000 |
*Includes cash payments of $25,000 due June 1, 2026 and $50,000 due December 31, 2026
Figure 1. Location of the Aurora project.
Qualified Person
Dr. Jared Suchan, CEO and Director of the Company, and a Qualified Person within the meaning of NI 43-101, 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 www.sedarplus.ca.
About Traction Uranium Corp.
Traction Uranium Corp. (CSE: TRAC) (OTC: TRCTF) (FRA: Z1K) 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/.
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 underexplored 100% owned and Cosa-operated joint venture projects in the Athabasca Basin region, the majority of which reside within or adjacent to established uranium corridors.
In January of 2025, the Company entered a transformative strategic collaboration with Denison Mines that has secured access to several additional highly prospective eastern Athabasca uranium exploration projects. As Cosa’s largest shareholder, Denison gains exposure to Cosa’s potential for exploration success and its pipeline of uranium projects.
Cosa’s award-winning management team has a track record of success in Saskatchewan. In 2022, members of the Cosa team were awarded the AME Colin Spence Award for the discovery of the Hurricane uranium deposit. Cosa personnel led teams or had integral roles in the discovery of Denison’s Gryphon deposit and held key roles in the founding of both NexGen and IsoEnergy.
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 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. 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, 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; and financing, capitalization and liquidity risks. 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 CSE has neither approved nor disapproved the information contained herein.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/2d05271b-2bbf-4aed-a256-e4ab485f3cb8
FAQ**
What are the key milestones that Traction Uranium Corp (TRCTF) needs to achieve in the exploration of the Aurora project to successfully earn its 80% interest?
How does Traction Uranium Corp (TRCTF) plan to finance the required exploration expenditures outlined in the option agreement with Cosa Resources Corp?
Considering the competitive landscape, what advantages does Traction Uranium Corp (TRCTF) have in exploring the Aurora project compared to other companies in the Athabasca Basin?
What measures does Traction Uranium Corp (TRCTF) have in place to mitigate the risks associated with exploration and development as outlined in the forward-looking statements?
**MWN-AI FAQ is based on asking OpenAI questions about Traction Uranium Corp. (CNQC: TRAC:CC).
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