Hearty Bay Drilling Suggests Till Sampling May Lead to Source of Radioactive Boulders

Drill Program Suspended Due to Early Ice Road Closure

CALGARY, Alberta, March 21, 2024 (GLOBE NEWSWIRE) -- Traction Uranium Corp. (CSE: TRAC) (OTC: TRCTF) (FRA: Z1K) (the “Company” or “Traction”) announces the completion of a single sonic drill hole at the Hearty Bay Property (“The Property”) and the early suspension of the drill program due to deteriorating ice conditions on Lake Athabasca.

The use of a track mounted sonic drill has resulted in the recovery of till for the first time under the lake in the up-ice direction from the high grade boulder trains on Isle Brochet and resulted in the recovery of a complete intersect of the underlying glacial till. Initial interpretation of this unit is favorable and suggests less post depositional disturbance than assumed, supporting the theory that the glacial till in which the historic high grade boulder trains on Isle Brochet occur, does extend up ice under the lake towards a source location.

Importantly, this suggests that it will be possible to use the subglacial till sampling method to trace the dispersion of uraniferous till under the lake, and thus directly back to the source of the historic Isle Brochet high grade boulder trains.

The two previous sub glacial till programs completed by the geomorphological experts at Palmer Environmental Consulting in 2023 demonstrated a uranium geochemistry signature in the sub glacial till, a reliable sampling medium invulnerable to the effects of wave action, below the historic high grade boulder trains located on surface on Isle Brochet. The discovery of this 2.3 m thick till under the lake provides strong support for additional sub glacial till sampling to ultimately lead directly to the source from which the radioactive boulder trains on Isle Brochet originate.

Traction and F3 Uranium Corp. (“F3”) have also engaged Convolutions Geoscience to complete a constrained inversion of the ground gravity data collected in January and the ground VLF EM data collected in 2022. An inversion based structural interpretation will then be included for drill planning for the next program on the Property.

Figure 1 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e5fb2810-f200-4200 ...

Qualified Person

The technical content of this news release has been reviewed and approved by Ken Wheatley, M.Sc, P. Geo., who is a Qualified Person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects. The information provides an indication of the exploration potential of the Company’s properties but may not be representative of expected results.