Traction Uranium signs option for Jackson Lake uranium property

Traction Uranium Corp. (CSE: TRAC) (OTC: TRCTF) (FRA: Z1K) entered into an option agreement with GEOMAP Exploration Inc. to acquire a 100% interest in the Jackson Lake Uranium Property in northeastern Saskatchewan, according to a company statement.

The property covers approximately 2,960 hectares of Crown land within the Wollaston Domain along the eastern margin of the Athabasca Basin. The area is part of the Trans-Hudson Orogen and contains graphitic conductor corridors, basement fault structures, and documented uranium showings.

To exercise the option, Traction must fund $400,000 in exploration work, make $100,000 in cash payments, and issue 1,350,000 common shares over two years. The company will make an initial payment of $20,000 and issue 1,100,000 shares within five business days of closing.

Additional payments include $150,000 in exploration work and $30,000 cash with 100,000 shares by the first anniversary, followed by $250,000 in exploration work and $50,000 cash with 150,000 shares by the second anniversary.

Traction may accelerate the option exercise timeline and will serve as operator with exclusive exploration rights during the agreement term. If the agreement terminates before option exercise, all consideration paid will be forfeited and GEOMAP will retain full ownership.

The transaction is expected to close on April 8, 2026, subject to Canadian Securities Exchange approval. Any issued shares will be subject to a four-month statutory hold period under Canadian securities laws.

Dr. Jared Suchan, Traction's CEO and a qualified person under National Instrument 43-101, reviewed and approved the technical content of the announcement.

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