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Traction Uranium and Fission 3.0 Commences Follow Up Program at Hearty Bay

CALGARY, Alberta, Oct. 11, 2022 (GLOBE NEWSWIRE) — Traction Uranium Corp. (CSE: TRAC) (OTC: TRCTF) (FRA: Z1K) (the “Company” or “Traction”)…

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CALGARY, Alberta, Oct. 11, 2022 (GLOBE NEWSWIRE) — Traction Uranium Corp. (CSE: TRAC) (OTC: TRCTF) (FRA: Z1K) (the “Company” or “Traction”) and Fission 3.0 Corp. are pleased to announce mobilization of their field crew to Hearty Bay to conduct a 15 day field program to ready the property for additional drilling in 2023 with the goal of vectoring in on the source of the historic high grade uranium boulder field found on Isle Brochet.

Lester Esteban, Chief Executive Officer, stated, “Next year will be our biggest drill program to date, Hearty Bay is an ice road program, therefore we want to be prepared with the latest data possible. That is why it is crucial to build upon the results from our last drill program, by following it up with high quality, well-designed focused field programs to bolster our targets, ensuring every hole punched is pre-determined and backed with high-quality data. By scrutinizing the boulders, determining the geological environment from where they came from, and enlisting the expertise of a surficial geologist to analyze the LiDAR survey results to unravel the glacial history – all these steps before we even set foot on the ice will guide our team in creating a package of exciting drill targets to go after this coming winter.”

The Program will consist of:

  • Scintillometer Prospecting carried out on the SW part of Isle Brochet to locate additional high grade uranium boulders for further study and to extend the boulder trains. Mineralized boulders that may be found will be sent for more detailed analysis including thin sections, age dating, conductivity measurements and other laboratory tests.
  • Geological prospecting and sampling will be carried out on the north shore of the lake along the prominent magnetic low anomaly that is perpendicular to the main geological fabric, concentrating on the areas where it intersects the historic EM conductors. (Uranium occurrences are known to occur at the places along conductors where they are intersected by cross faults.)
  • Ground electromagnetic (EM) geophysics will be extended onto land on the north shore of Lake Athabasca to the NE of Isle Brochet to pinpoint and characterize the airborne EM conductors that were identified by a historic Tridem EM survey flown in 1980. We seek to characterize these conductors and to investigate their potential association with the new conductors that were discovered this winter NE of Isle Brochet under the lake. These surveys stand to generate additional drill targets further NE up ice from the uraniferous boulder trains.

LiDAR Survey Update (see September 20th, 2022 news release):

  • Palmer has been engaged to interpret the high resolution LiDAR data that was collected in September. Palmer’s lead specialist in surficial geology and mineral exploration will conduct a field reconnaissance trip to Isle Brochet in October to examine the historic trenches and boulder trains to establish a more detailed understanding of the surficial processes that have affected the area, with the aim of explaining and ultimately helping to source the radioactive boulder trains. A recommended surficial exploration strategy will be outlined that is likely best able to resolve key uncertainties in the local surficial geology, and ultimately to provide a better understanding of the boulder distribution mechanisms and source areas to inform drill-testing decisions in 2023.

About Traction Uranium Corp.

Traction Uranium Corp. is in the business of mineral exploration and the development of discovery prospects in Canada, including its three flagship uranium projects in the world renowned Athabasca Region.

We invite you to find out more about our exploration-stage activities across Canada’s Western region at www.tractionuranium.com.

About Fission 3.0 Corp.

Fission 3 is a uranium project generator and exploration company, focusing on projects in Canada’s Athabasca Basin, home to some of the world’s largest uranium deposits. Currently the company has 16 properties in the Athabasca Basin. Fission 3 is planning a fall drilling program at PLN where previous drilling intersected basement hosted uranium mineralization and pathfinder elements showing large scale potential. PLN is one of the most advanced and highest ranked projects in F3’s extensive portfolio and is located in the area where Fission Uranium Corp and NexGen are advancing their world-class, large, high-grade uranium deposits.

https://twitter.com/Fission3Corp

About the Property

The Hearty Bay Project is located in the northwest side of the Athabasca Basin in the Beaverlodge/Uranium City district, Hearty Bay hosts a uranium boulder-field where it is interpreted that glaciation has transported high-grade uranium from a nearby source. Interpretation of a 2019 marine seismic survey defined interpreted fault intersections that represent drill targets which may be associated with the source of the uranium boulder trains.

Qualified Person

The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed on behalf of the company by Raymond Ashley, P.Geo., Vice President, Exploration of Fission 3.0 Corp.

On Behalf of The Board of Directors

Lester Esteban
Chief Executive Officer
+1 (604) 561 2687
[email protected]

Forward-Looking Statements

This news release includes forward-looking statements that are subject to risks and uncertainties, ‎‎including with respect to the Company completing phase 1 and phase 2, the Company acquiring any interest in the Property, timing of cash payments, share issuances and expenditure requirements, and development of the Property. The Company ‎‎provides forward-looking statements for the purpose of conveying information about current ‎‎expectations and plans relating to the future and readers are cautioned that such statements may not be ‎‎appropriate for other purposes. By its nature, this information is subject to inherent risks and ‎‎uncertainties that may be general or specific and which give rise to the possibility that expectations, ‎‎forecasts, predictions, projections, or conclusions will not prove to be accurate, that assumptions may not ‎‎be correct, and that objectives, strategic goals and priorities will not be achieved. These risks and ‎‎uncertainties include but are not limited those identified and reported in the Company’s public filings ‎‎under the Company’s SEDAR profile at www.sedar.com. Although the Company has attempted to identify ‎‎important factors that could cause actual actions, events, or results to differ materially from those ‎‎described in forward-looking information, there may be other factors that cause actions, events or ‎‎results not to be as anticipated, estimated or intended. There can be no assurance that such information ‎‎will prove to be accurate as actual results and future events could differ materially from those ‎‎anticipated in such statements. The Company disclaims any intention or obligation to update or revise any ‎‎forward-looking information, whether as a result of new information, future events or otherwise unless ‎‎required by law.‎

The CSE has neither approved nor disapproved the information contained herein.

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