Traction Uranium Corp. (CSE: TRAC) announced on September 28, 2026 that diamond drilling has commenced at its Aurora Uranium Project in Saskatchewan's Athabasca Basin region, marking the first drilling at the property in more than four decades. The Calgary-based uranium explorer is fully funding the program under an option agreement with Aurora's owner and operator, Cosa Resources Corp. The program targets shallow conductive anomalies with associated radiometric signatures interpreted to reflect uranium-bearing sources, a development investors in the junior uranium exploration sector will be watching closely.

Key Points

  • Traction Uranium Corp. (CSE: TRAC, OTC: TRCTF, FRA: Z1K) is a Calgary-based mineral exploration company focused on uranium in Canada's Athabasca Basin region.
  • Diamond drilling has commenced at the Aurora Uranium Project in Saskatchewan, with approximately 800 metres planned across four to six holes.
  • Traction may earn up to an 80% interest in Aurora by funding $9.15 million in exploration expenditures and completing required cash and share payments under an option agreement dated February 10, 2026.
  • Investors will be watching drill results from four target areas, three of which carry radiometric anomalies interpreted to reflect uranium-bearing sources.

Aurora Drill Program Targets and Geophysical Rationale

The approximately 800-metre program will test four named target areas — A1, A2, A4, and A5 — selected using Cosa's 2024 airborne VTEM electromagnetic survey and supplemented by gravity, magnetic, and a property-wide high-resolution survey completed in July 2026. Target A1 in southwestern Aurora features a northeast-trending conductive response with no expected Athabasca sandstone cover. Target A2 in the northern section sits beneath approximately 30 metres of sandstone and coincides with interpreted magnetic lineaments. Targets A4 and A5 present curved conductive trends just inside the mapped basin edge, each positioned up-ice of uranium-source radiometric anomalies.

Traction's Option Agreement and Funding Commitment at Aurora

Under the option agreement signed February 10, 2026, Traction Uranium is fully funding the current drill program as part of its path toward earning up to an 80% interest in Aurora. The total earn-in commitment requires $9.15 million in exploration expenditures alongside required cash and share payments. Cosa Resources Corp., which holds a portfolio of roughly 237,000 hectares across multiple projects in the Athabasca Basin, is acting as owner and operator of Aurora, conducting the drill program on Traction's behalf. The operator's team has been credited with involvement in prior Athabasca Basin discoveries, including IsoEnergy's Hurricane deposit.

Qualified Person Oversight and Scientific Disclosure Standards

Jared Suchan, Ph.D., P.Geo., Chief Executive Officer and Director of Traction Uranium, serves as the Qualified Person under National Instrument 43-101 — Standards of Disclosure for Mineral Projects and has reviewed and approved the scientific and technical content of the announcement. Ground follow-up of selected radiometric anomalies is also planned as part of the program to assess their sources and support further target prioritisation at Aurora, the company stated in the release.