Announcement • Jun 15
Cosa Resources Announces Summer Drill Plans For The Darby Joint Venture With Denison Mines Cosa Resources announced summer plans for the Company's Darby project. Darby is a joint venture between Cosa and Denison Mines and is located 10 kilometres west of Cameco's Cigar Lake Mine in the eastern Athabasca Basin, Saskatchewan. Cosa is the operator of Darby and holds a 70% interest with Denison holding a 30% interest. Drilling at Darby is expected after completion of a significant drill program at the Company's Murphy Lake North joint venture to follow up uranium mineralization intersected in winter 2026. Drilling is planned at the Gamma trend to follow up structure, alteration, and strongly anomalous uranium geochemistry intersected during the winter 2026 drill program. Drilling is planned at the Bravo trend to follow up weak uranium mineralization proximal to structure and alteration intersected by historical drilling. Drilling at Darby is planned to comprise up to 2,000 metres at the Gamma and Bravo trends. Drilling at Gamma will follow up Cosa's winter 2026 drill program which intersected a broad zone of structure with significant unconformity offset, alteration, and elevated to strongly anomalous uranium geochemistry on trend with historical uranium mineralization. Drilling at Bravo will follow up compelling historical results including structure, alteration, and uranium mineralization. The Company remains on schedule and expects to announce the commencement of drilling at the Murphy Lake North joint venture in the coming days. Drilling at Murphy Lake North is expected to take a minimum of two months to complete and will be followed by drilling at Darby. Located 10 kilometres west of the Cigar Lake Mine, Darby contains multiple prospective conductive trends and several intersections of weak uranium mineralization. Historical drilling indicates that many of these trends are highly prospective for uranium deposits characteristic of the eastern Athabasca Basin, yet most of the strike length has not been effectively evaluated. Work by Cosa in 2025 prioritized these trends and identified several historical drill holes with results that suggest proximity to uranium mineralization. Initial drilling results from winter 2026 significantly upgraded multiple trends. Summer drilling is expected to commence in late August and will include follow up of anomalous results from both winter 2026 and historical drilling. Historical drilling and geophysical results for Darby were sourced from the Saskatchewan Mineral Assessment Database (SMAD). SMAD sources for Darby include file numbers 74H14-0021, 74H14-0023, 74H15-0041, 74H15-0053, 74H15-0055, 74H15-0056, 74H15-0066, 74H15-0067, 74I02-0031, 74I02-0042, 74I02-0053, 74I02-0080, 74I02-0095, and MAW00516. Some confidential data and reports not presently available via SMAD were supplied to Cosa by Denison. Verification of historical drilling results included confirming historical drill hole collar locations from air photos and ground checking selected collars with a handheld GPS unit. Basement and lower sandstone sections from most historical drill holes were relogged in 2024 and 2025 by Cosa. Verification of geochemical results for drill holes completed between 2008 and 2010 was facilitated by the reissuance of analytical certificates to Cosa by the Saskatchewan Research Council (SRC). Cosa thanks the SRC for its valued assistance in increasing confidence in the historical dataset. Verification of historical geophysical results included confirming the locations of geophysical survey grids from air photos, compiling survey data and interpretations, and evaluating whether interpreted geophysical results could be reasonably explained by historical and current drilling results. Samples from Cosa's drilling were transported to SRC Geoanalytical Laboratories (SRC) in Saskatoon, Saskatchewan (ISO/IEC 17025:2005 accredited) for U3O8 assay and multielement analysis. Cosa inserts certified reference material (CRM) blanks and standards into the split core sample series as a QA/QC measure. SRC conducts a QA/QC programme which includes repeat analyses and insertion of CRM standards CAR218, BL4A, and BL2A, as appropriate. SRC's CRM results are verified by Cosa staff. The Company's disclosure of technical or scientific information in this press release has been reviewed and approved by Andy Carmichael, P.Geo., Vice President, Exploration for Cosa. Mr. Carmichael is a Qualified Person as defined under the terms of National Instrument 43-101. DML
Live News • Jun 08
Denison Mines Clears Final Hurdle for Phoenix Uranium Mine With 2028 Production in Sight Denison Mines has received full regulatory approval to begin construction at its Phoenix In-Situ Recovery uranium mine, marking the first large-scale uranium project in Canada to reach this stage.
Following a final investment decision, the company has started critical site preparation and early construction activities at Phoenix.
Denison is targeting initial uranium production from Phoenix by mid-2028, and an analyst at Scotiabank has raised the stock’s price target while maintaining an Outperform rating.
The shift from permitting into early construction signals that Phoenix is moving from concept toward an operating asset on a defined timeline. This can help reduce some project execution uncertainty for investors tracking the story.
Investors should still pay close attention to construction progress, capital cost updates and any changes to the 2028 production target, as slippage on timing or budget could affect sentiment toward the stock. Reported Earnings • May 13
First quarter 2026 earnings released: CA$0.13 loss per share (vs CA$0.049 loss in 1Q 2025) First quarter 2026 results: CA$0.13 loss per share (further deteriorated from CA$0.049 loss in 1Q 2025). Net loss: CA$114.9m (loss widened 164% from 1Q 2025). Revenue is forecast to grow 58% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Oil and Gas industry in Canada. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 146 percentage points per year, which is a significant difference in performance. 
