Business
Canadian Uranium Provides Update On Cable Lake Property Option Payments
Vancouver, British Columbia – May 13, 2026 – TheNewswire - Canadian Uranium Corp. (the “Company” or “Canadian Uranium”) (CSE: CANU, OTCQB: CANUF, WKN: A41WE6) a
About this update from Canadian Uranium Corp
[{"type":"text","content":"Vancouver, British Columbia – May 13, 2026 – TheNewswire - Canadian Uranium Corp. (the “Company” or “Canadian Uranium”) (CSE: CANU, OTCQB: CANUF, WKN: A41WE6) announces that it has entered into an addendum (the “Addendum”) to the option assignment agreement dated October 1, 2025 (the “Assignment Agreement”) among the Company, Citizen Mining Corporation (“Citizen”) and Doctors Investments Group Ltd. (“Doctors”), pursuant to which Canadian Uranium acquired an undivided 80% interest in Citizen’s rights under an option agreement dated November 12, 2024 between Citizen and Doctors (the “Option Agreement”). As a result of the Assignment Agreement, Canadian Uranium and Citizen may acquire an 80% interest and 20% interest, respectively, in the Cable Lake Property. Pursuant to the Addendum, the parties agreed to amend the terms of the Option Agreement, such that to exercise the option in accordance with the Option Agreement, Citizen and Canadian Uranium must: pay Doctors an aggregate of $1,250,000 as follows: a) $350,000 on signing of the Option Agreement, which Citizen has paid; b) $200,000 on or before July 1st, 2026; c) $300,000 on or before July 1st, 2027; and d) $400,000 on or before July 1st, 2028; and incurring exploration expenditures on the Property as follows: a) $400,000 on or before September 1, 2026; and b) $1,800,000 on or before December 31, 2028 As Canadian Uranium holds an 80% interest in the Option Agreement, Canadian Uranium is responsible for 80% of the remaining payments and exploration expenditures required to exercise the option for the Cable Lake Property. About Canadian Uranium Corp. Canadian Uranium Corp. is an emerging uranium exploration and development company focused on the prolific Athabasca Basin - the world’s premier district for high-grade uranium deposits. The Company’s strategy centers on assembling highly skilled technical teams with expertise in uranium geology, advanced geophysics, and northern exploration logistics. Through disciplined acquisitions, innovative exploration methodologies, and strategic partnerships, the Company aims to accelerate project advancement and unlock value across its exploration portfolio. Contact Information: Canadian Uranium Corp. Geoff Balderson, Chief Financial Officer 604-602-0001 [email protected] Forward-Looking Statements This news release conta...