Cosa Resources Corp. · TSXV:COSA
Cosa Resources — Investor Presentation (March 2025)
34 slides from Cosa Resources's investor presentation, March 2025
Slide 1: A track record of uranium discoveries in the Athabasca Basin
A track record of uranium discoveries in the Athabasca Basin. TSXV: COSA OTCQB: COSAF FSE: SSKU March 2025
Slide 2: Disclaimer
Disclaimer Information Contained In This Presentation change in a material adverse manner, that financing will be available if and when needed and on reasonable terms, and that third party contractors, equipment and supplies and governmental and other approvals This presentation is a summary descrip
Slide 3: About Cosa Resources
About Cosa Resources Highlights Transformational Property Acquisitions and Collaboration with Cosa has acquired majority interest in three highly prospective uranium projects in the Athabasca Basin, and Denison Mines is now Cosa’s largest strategic shareholder Experienced and Proven Team Proven trac
Slide 4: Denison Mines Strategic Collaboration
Denison Mines Strategic Collaboration Leading exploration team credited with multiple Leading development company advancing the Phoenix technical and corporate successes in the Athabasca uranium deposit in the Athabasca Basin Exceptional portfolio of underexplored and highly Strong treasury
Slide 5: Cosa’s Award-Winning Team
Cosa’s Award-Winning Team Steve Blower – Chairman Keith Bodnarchuk – President & Chief Executive Officer, Director • A geologist with 30+ years of experience in the minerals industry • Professional Geologist with 15+ years in exploration, mining and capital markets • Co-recipient of the AME 2022 Col
Slide 6: Transformative Transaction with Denison Mines
Transformative Transaction with Denison Mines • Cosa has acquired a 70% interest in and will operate the Murphy Lake North, Darby, and Packrat uranium projects Overview • Denison holds a 19.95% ownership in Cosa, with equity rights to retain up to 19.95% ownership • Denison to offer strong corporate
Slide 7: Athabasca Basin – Saskatchewan, Canada
Athabasca Basin – Saskatchewan, Canada • World’s undisputed top district for high- grade uranium deposits; a jurisdiction that embraces uranium mining • Global average deposit grade is ~0.2% U3O8 - Hurricane’s average grade is 34.5% U3O8 - some of the most valuable rock on the planet • Eastern Athab
Slide 8: Athabasca Basin
Athabasca Basin • The Athabasca Basin has been increasingly saturated – prospective ground is acquired early • Low project turnover rate due to increased access to capital and joint venture deals January 2020 TSXV: COSA | cosaresources.ca 8
Slide 9: Athabasca Basin
Athabasca Basin • The Athabasca Basin has been increasingly saturated – prospective ground is acquired early • Low project turnover rate due to increased access to capital and joint venture deals January 2025 TSXV: COSA | cosaresources.ca 9
Slide 10: Athabasca Basin
Athabasca Basin • The Athabasca Basin has been increasingly saturated – prospective ground is acquired early • Low project turnover rate due to increased access to capital and joint venture deals Cosa Projects ideally situated TSXV: COSA | cosaresources.ca 10
Slide 11: Denison Joint Venture Projects
Denison Joint Venture Projects • Cosa owns and operates majority interests in the Murphy Lake North, Darby, and Packrat Projects • Denison Mines to remain as minority contributing partner • New projects under modest sandstone cover between 50 and 650 metres • Over 21,000 ha of additional Joint Ventu
Slide 12: Murphy Lake North – Denison Joint Venture
Murphy Lake North – Denison Joint Venture • Located within four kilometres of IsoEnergy’s Hurricane Deposit - the highest grade Indicated Mineral Resource for uranium on the planet which was discovered by Cosa’s management team in 2018 • Review of historical core by Cosa personnel in September 2024
Slide 13: Darby – Denison Joint Venture
Darby – Denison Joint Venture • Located 10 kilometres west of Cameco’s Cigar Lake Uranium Mine, the highest production and highest-grade uranium mine in the world • Interpreted by Cosa to be a mature, discovery ready project with abundant drill targets • Modest sandstone cover between 480 and 650 me
Slide 14: Packrat – Denison Joint Venture
Packrat – Denison Joint Venture • Located 28 km east of the Cigar Like Uranium Mine and 19 km southwest of the Rabbit Lake Uranium Mill • Less than 100 metres of sandstone cover • Covers a prominent magnetic break within the interpreted extension of the Cigar Lake Trend and peripheral to the Collins
Slide 15: 100% Owned Projects
100% Owned Projects • Remainder of Cosa’s 215,000 ha exploration portfolio is 100% owned • Cosa’s core eastern Athabasca projects are strategically located within or peripheral to prospective, northeast-trending uranium corridors • These corridors host some of the largest and highest-grade uranium d
Slide 16: Ursa
Ursa • Covers >65 km strike length of the Cable Bay Shear Zone, a structural corridor with known mineralization which is significantly underexplored • Fall 2024 drill program successfully intersected unconformity model type sandstone alteration and basement hosted uranium mineralization • Multiple p
Slide 17: Athabasca Uranium Deposits
Athabasca Uranium Deposits What are the targets? • Cosa is targeting unconformity hosted uranium deposits (ex. McArthur River, Cigar Lake, Phoenix, Hurricane, etc.) • Cosa’s drilling strategy canvasses a much wider zone of potential structure and alteration for very few additional metres TSXV: COSA
Slide 18: Ursa - Recent Drill Program | Plan Overview
Ursa - Recent Drill Program | Plan Overview Summary • Basement hosted uranium mineralization in UR24-06 beneath a zone of significant sandstone structure and alteration typical of many eastern Athabasca uranium deposits • Confirmed the presence of structurally re-activated and intensely graphitic gn
Slide 19: Ursa - Recent Drill Program | Cross Section
Ursa - Recent Drill Program | Cross Section Drill Hole UR24-06 • Tested the first of multiple ANT-derived target areas • Intersected basement hosted uranium mineralization and multiple zones of basement hosted radioactivity within brecciated and altered host rock • Intersected a broad zone of unconf
Slide 20: Ursa - Recent Drill Program | Cross Section
Ursa - Recent Drill Program | Cross Section Drill Hole UR24-04 • Targeted the down-dip expression of sandstone hosted structure, alteration, and anomalous uranium geochemistry in drill hole UR24-03 • Successfully intersected structurally reactivated and intensely graphitic basement intervals includi
Slide 21: Orion
Orion • Covers an interpreted extension of Larocque uranium corridor where it merges with the Cable Bay Shear Zone. • Captures the intersection of the Cigar Lake and Larocque Lake trends • 2023 survey identified a km-scale sandstone conductivity anomaly that overlies structurally complex basement •
Slide 22: Aurora
Aurora • 16km east of Cameco’s Key Like Mill and historical Key Lake Mine (209.8 million pounds at an average grade of 2.3% U3O8) • Corridor significantly upgraded by the GMZ discovery, no other exploration since 1981 • Historical drill logs note metre scale zones of basement hosted structure and al
Slide 23: Orbit
Orbit • 22km south of the Key Lake Mill and historical Mine • Captures 4km of inferred strike extension of a prospective, reactivated graphitic structural trend • Weak mineralization intersected to the southwest – 0.07% U3O8 over 0.2m within strongly altered graphitic faulting • Easy access – locate
Slide 24: What’s Next?
What’s Next? • Ongoing winter drilling at the Murphy Lake North Joint Venture - Cosa has identified existing drill targets within four kilometres of IsoEnergy’s Hurricane deposit • Results of ANT work at Ursa; identifying anomalies like that which successfully targeted alteration and basement hosted
Slide 25: Capital Structure
Capital Structure Shareholder Base COSA | 1 Year Chart 19% 15% Management & Advisors $0.60 1,200,000 Funds & Strategic $0.50 1,000,000 28% Retail 38% Denison Mines* $0.40 800,000 $0.30 600,000 $0.20 400,000 Share Structure – Q1 2025 $0.10 200,000 Shares Outstanding 88,896,596 Warrants 21,019,011 $-
Slide 26: Uranium Fundamentals
Uranium Fundamentals • Demand for nuclear fuel set to rapidly outpace Uranium Supply and Demand Forecast (tU) supply that has stagnated for decades 175k • Stored inventories have been depleted Global Demand • Complacent utilities and fuel buyers are forced to secure fuel to reach clean energy securi
Slide 27: Simplified Fuel Cycle Costs
Simplified Fuel Cycle Costs Fuel production ~18 months Mining & Milling Conversion Enrichment Consumption Physical Uranium Price Conversion Costs Enrichment Costs +70% +450% +200% Fuel procurement process Increased demand for nuclear fuel starts with an increase in enrichment and conversion costs, p
Slide 28: Price of Uranium
Price of Uranium Mining & Milling Uranium producers structure contracts using a combination of the spot and term market uranium prices Spot Price Term Price $95 Spot market fluctuations often lead to volatile trading of uranium equities $70 Steadily rising term market prices are a strong indication
Slide 29: Opportunity
Opportunity • Sub $30m explorers value is not reflecting uranium market fundamentals and rising price of physical uranium • Cosa’s current value (~C$20M) well positioned for capital trickle down and next leg of the uranium bull market • Cosa’s team has proven that a discovery has value in any market
Slide 30: Board of Directors
Board of Directors Steve Blower – Chairman Keith Bodnarchuk – President, CEO, and Director • A geologist with 30+ years of experience in the minerals industry • Professional Geologist with 15+ years in exploration, mining and capital markets • Co-recipient of the AME 2022 Colin Spence Award for exce
Slide 31: Management and Advisors
Management and Advisors Darren Morgans – Chief Financial Officer Andy Carmichael – Vice President Exploration • Professional Geoscientist with 20+ years of experience in exploration/mining and capital • CPA – Canada and CA – Australia markets • 25 + years as professional accountant as CFO, Controlle
Slide 32: Why Cosa?
Why Cosa? Team Industry leading exploration team responsible for multiple discoveries and billions of dollars of value creation. Targets Strong pipeline of drill targets, further strengthened with recently announced joint venture agreements with Denison Mines Timing Exploring for uranium in a top ju
Slide 33: Providing the elements that the world needs
PROVIDING THE ELEMENTS THAT THE WORLD NEEDS. NYSE: VZLA TSX.V: VROY TSX.V: VCU TSX.V: COSA TSX.V: HSTR TSX: VZLA OTCQB: VCUFF OTCQB: COSAF OTCQB: HSTXF Inventa was founded in 2017 by Craig Parry and Michael Konnert to seize emerging opportunities in the natural resource sector. Today, Inventa has gr
Slide 34: Website – cosaresources.ca
Website – cosaresources.ca E-mail – info@cosaresources.ca Phone – 1.888.899.2672 (COSA) TSXV: COSA OTCQB: COSAF FSE: SSKU March 2025