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 May 2026
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: Executive Summary
Executive Summary Team Leading team directly credited with the co-founding of both NexGen and IsoEnergy, as well as discovery of the Phoenix, Gryphon, and Hurricane uranium deposits. Strategic Support Ongoing project and corporate level support with equity financing participation from Denison Mines,
Slide 4: Murphy Lake North - Radioactivity
Murphy Lake North - Radioactivity • Winter 2026 drill program intersected radioactivity in multiple drill holes • MLN26-013 intersected 5 metres of continuous radioactivity • Radioactivity is open in multiple directions including 600m on strike in both directions • Geology consistent with eastern At
Slide 5: Cosa's Success
Cosa’s Success Steve Blower – Chairman Andy Carmichael – Vice President of Exploration • Key member of the Hurricane discovery team • Key member of the Hurricane discovery team; previously VP • Previously VP Exploration for Denison; key member for the Exploration for IsoEnergy discovery and expansio
Slide 6: Denison Mines Strategic Collaboration
Denison Mines Strategic Collaboration Leading exploration team credited with multiple Leading development company advancing the successes in the Athabasca Phoenix uranium deposit in the Athabasca Basin Exceptional portfolio of underexplored and Strong treasury with >C$460 million in cash and
Slide 7: 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 significant ownership in Cosa as largest shareholder, with equity rights to retain up to 19.95% ownership • Denis
Slide 8: 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 9: Denison Joint Venture Projects
Denison Joint Venture Projects • Cosa owns and operates majority interests in the Murphy Lake North, Darby, and Packrat Projects • New zone of radioactivity intersected at Murphy Lake North Joint Venture winter 2026 • Denison Mines to remain as minority contributing partner • Projects under modest s
Slide 10: Murphy Lake North – Denison Joint Venture
Murphy Lake North – Denison Joint Venture • Winter 2026 drill program intersected radioactivity in multiple drill holes • Radioactivity is open in multiple directions including 600m on strike in both directions • Shallow depth ~260m from surface • 5km east of IsoEnergy’s Hurricane deposit • Centrall
Slide 11: Murphy Lake North - Radioactivity
Murphy Lake North - Radioactivity Mineralization is underpinned by decametre-scale zones of graphitic faulting Basement alteration envelopes structures and remains open in all directions TSXV: COSA | cosaresources.ca 11
Slide 12: Murphy Lake North – Denison Joint Venture
Murphy Lake North – Denison Joint Venture • Cyclone structural corridor is >100m wide on section – hosts significant alteration and multiple discrete zones of radioactivity • True width of mineralized structural corridor remains unknown • Multiple follow up targets on section • Underlying geology is
Slide 13: Murphy Lake North – Denison Joint Venture
Murphy Lake North – Denison Joint Venture Hurricane Discovery Section Cyclone Section 3200 Widespread sandstone alteration Stacked graphitic and non-graphitic gneisses with large fault zones facilitating alteration and radioactivity Source: Carmichael 2019 IsoEnergy SGS Open House Presentation TSXV:
Slide 14: Murphy Lake North – Denison Joint Venture
Murphy Lake North – Denison Joint Venture • Northern end of the Larocque trend has seen an increase in exploration since the discovery of Hurricane • MLN surrounded by uranium producers and developers • Cameco, Orano, IsoEnergy remain active in the area • Hurricane area may emerge as the next distri
Slide 15: 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 16: What's Next?
What’s Next? News flow • MLN Assays • Darby drill results • Summer drilling plans • Partner funded work • Ongoing Corporate Development efforts TSXV: COSA | cosaresources.ca 16
Slide 17: 100% Owned Projects
100% Owned Projects • Much of Cosa’s 180,000 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 deposi
Slide 18: Capital Structure
Capital Structure Shareholder Base COSA | 1 Year Chart 18% 18% Management & Advisors $0.90 1,400,000 Funds & Strategic $0.80 1,200,000 Retail $0.70 25% 1,000,000 39% Denison Mines* $0.60 $0.50 800,000 $0.40 600,000 $0.30 400,000 Share Structure – Q1 2026 $0.20 200,000 Shares Outstanding 117,668,883
Slide 19: 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 20: 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 21: Executive Summary
Executive Summary Team Leading team directly credited with the co-founding of both NexGen and IsoEnergy, as well as discovery of the Phoenix, Gryphon, and Hurricane uranium deposits. Strategic Support Ongoing project and corporate level support with equity financing participation from Denison Mines,
Slide 22: APPENDIX
APPENDIX TSXV: COSA OTCQB: COSAF FSE: SSKU May 2026
Slide 23: Ursa
Ursa • Covers >65 km strike length of the Cable Bay Shear Zone, a mineralized structural corridor • Basement hosted uranium mineralization intersected in UR24-06 beneath a zone of sandstone structure and alteration typical of many eastern Athabasca uranium deposits • Intersected structured and inten
Slide 24: 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 • Historical drilling west of priority geophysical anomaly intersected structure, alteration, and weak mineraliza
Slide 25: 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 26: 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 27: Aurora Option Agreement
Aurora Option Agreement • Cosa has entered an Option Agreement with Traction Uranium whereby Traction can acquire up to an 80% interest in Aurora • Traction to sole-fund up to $9.15m in exploration expenditures and; • Issue up to 5m shares • Complete cash payments to Cosa totaling up to $1.5m • Expl
Slide 28: Astro Option Agreement
Astro Option Agreement • Cosa has entered an Option Agreement with Global Uranium whereby Global can acquire up to an 80% interest in Astro • Global to sole-fund up to $9.5m in exploration expenditures • Global to issue up to 2.6m shares • Global to complete cash payments to Cosa totaling up to $800
Slide 29: 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 30: Simplified Fuel Cycle Costs
Simplified Fuel Cycle Costs Fuel production ~24+ 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,
Slide 31: 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 valuations of uranium equities $70 Rising and stable term market prices are a strong indica
Slide 32: 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 33: Website – cosaresources.ca Contact – info@cosaresources.ca
Website – cosaresources.ca Contact – info@cosaresources.ca TSXV: COSA OTCQB: COSAF FSE: SSKU May 2026