Uranium Co. Advances Largest Ever Saskatchewan Drill Campaign

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1. Ownership and Share Structure Information

The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.

On May 28, 2026, Cosa Resources Corp. (COSA:TSXV; COSAF:OTCQB; SSKU:FSE)  announced summer plans for its largest drill program ever at the company's Murphy Lake North uranium project in Saskatchewan, Canada. The project is only three kilometers east of ISO Energy Ltd.'s (ISO:TSX; ISOU:NYSE) Hurricane deposit and in a known indicated resource area at Larocque Lake. In mid-June, the company will follow up on uranium mineralization intersected in late 2026. Cosa has partnered with Denison Mines Corp. (DML:TSX; DNN:NYSE.MKT) in a joint partnership at Murphy Lake North and owns a 70% interest in the project, with Denison holding a 30% interest.

Highlights of the future drill program announcement include:

• Multiple intersections of unconformity-related uranium mineralization remain open along strike for 600 meters in both directions; drilling to focus on step-out tests of the Cyclone mineralization approximately 265 meters below surface
• Largest drill program to date at Murphy Lake North will commence in mid-June and comprise approximately 6,000 meters, 15 drill holes
• Denison is participating in funding the 2026 exploration at MLN to maintain its 30% interest

In the release, Cosa President and CEO, said, "Having intersected 5.0 meters averaging 0.55% U₃O₈ within an extensive structure and alteration zone that remains open along strike, we are eager to return to site and commence what will be the largest drill program for Cosa and the Murphy Lake North Joint Venture since the inception of the company. With Denison's support and participation in the funding of ongoing exploration, we are very excited to follow up on the uranium mineralization at Murphy Lake North."

VP of Exploration, Andy Carmichael, followed up by saying, "Exploration at Cyclone has progressed from initial drilling on the trend to preparing to follow up multiple intersections of uranium mineralization with significant untested strike in both directions in less than one year. We draw great encouragement from the similarity of Cyclone's sandstone alteration patterns to those at Hurricane, and from the significant nickel and cobalt coincident with uranium mineralization similar to Key Lake, Cigar Lake, and Hurricane."

Cosa Resources Corp. is a Canadian uranium exploration company focused on mining in Saskatchewan, with a portfolio of roughly 237, 000 hectares across multiple projects within the Athabasca Basin region.

Uranium Supply in Demand

Uranium is growing in importance as a crucial component of the energy sector. As a critical component in nuclear energy and emerging technologies, a shortage of the element is only expected to grow.

The International Atomic Energy Agency projects that global nuclear capacity could double by 2050, reaching between 561 gigawatts and 992 gigawatts. This prediction has caused uranium mine policy support to strengthen.

In May 2025, the U.S. issued a series of executive orders aimed at quadrupling domestic nuclear capacity to 400 gigawatts by 2050, from roughly 100 gigawatts today.

"The United States burns through roughly 50 million pounds of uranium each year to fuel the world's largest fleet of nuclear reactors, and imports approximately 95% of that uranium from foreign suppliers," reported Equity Insider on May 14, 2026.

The report continued, "That structural import dependence — combined with accelerating demand projections for nuclear power across AI data centers, grid expansion, and emerging space-deployment mandates — has placed domestic uranium development firmly into the national security conversation."

Experts Eager for Upcoming Results

Red Cloud's David Talbot gave an exploration update on the company on March 24, 2026, calling the results "very positive."

Talbot wrote: "While assays are pending, we view these as encouraging results with a clearly visible uranium mineralization in core photos, which could very well translate into a discovery. The shallow mineralized zone and proximity to infrastructure are an added bonus. The program is led by a strong, ex-Denison and ISO team under Keith Bodnarchuk and Andy Carmichael. The target sits in one of the Athabasca Basin's most compelling corridors, anchored by the nearby Hurricane deposit — the highest-grade uranium deposit in the world, hosting 50M lbs at 35% U3O8."

Ahead of the Herd wrote about the company's unique position to find uranium on May 31, 2026, arguing that, "Investors should recognize that this summer’s drill program at Murphy Lake North could discover a new uranium deposit. If Cosa achieves this, it could trigger a bidding war among multiple companies seeking additional uranium supply to support their mines and mills for years to come." But even if no deposit is found this summer, next winter's program could find assets at the Darby joint venture or further digging at Murphy Lake North. "On the bright side, it might even be possible, between these two projects, for Cosa to come up with more than one discovery," the article said.

Cosa Ready to Mobilize

The company's main focus for the remainder of 2026 will be follow-up drilling to refine resources at Murphy Lake North. In the press release, the Cosa said, "Crews are preparing to mobilize, and a rapid start-up is expected as the drill and supporting equipment remains on site at MLN. The company expects to announce the commencement of drilling in mid-June, which will take approximately two months to complete, and will be followed by drilling at the company's Darby joint venture."

Ownership & Share Information¹

Cosa Resources Corp. has a market cap of CA$78 million, with 118.18 million shares outstanding. The company's 52-week range is CA$0.19-CA$0.82.

Institutions own 2.00% of shares, while Strategic Investors own 17.76%. Management & Insiders own 9.63%, and the remaining 70.61% are held by Retail.