Traction Uranium Corp. (CSE: TRAC) (OTC: TRCTF) (FRA: Z1K) is pleased to provide the following diamond drill hole updates on the diamond drill program at the Company’s Key Lake South Property in northern Saskatchewan’s Athabasca Basin.

DDH Highlights:

• DDH KLS23-001: intersected intensive alteration, bleaching, and hematization in basement rocks (see Figure 1)
• DDH KLS23-002: natural gamma radiation with 1016 cps was detected at the drill collar using a handheld Radiation Solutions RS-125 scintillometer (see Figure 2)
• DDH KLS23-002A: intersected epidote and hematite, which are alteration minerals used to vector in on prospective uranium mineralization (see Figures 3 & 4)
• DDH KLS23-007: down-hole gamma ray probing intersected 2 zones of anomalous radioactivity: Zone 1; 6 metres (1.6 m to 7.6m) within overburden, with values up to 1,254 cps; and Zone 2; 52 metres (31 m to 83 m) within basement rocks, returning values up to 474 cps, associated with epidote, chlorite and hematite alteration (see Figure 5)
• DDH KLS23-008: intersected sheeted graphitic fractures in metasandstones towards the base of the DDH (see Figures 6-8)
• DDH KLS23-009: downhole probing detected an approximately 69-centimetre interval of anomalous radioactivity within overburden, extending from 0.023 metres to 0.716 metres with values ranging from 121 to 236 cps

Lester Esteban, Chief Executive Officer of the Company, stated, “We are extremely excited and impressed by our first diamond drill program at our KLS Property. We are seeing all the right stuff in the basement rocks that are ticking all the right boxes for basement-hosted mineralization. However, the shallow, near-surface overburden anomaly in KLS23-007 is stealing the show with a 6-metre zone of significant radioactivity with values up to 1,254 cps measured by downhole probing. Notably, the overburden is measured with the probe inside the diamond drill steel casing which may be subduing the cps readings. The down-hole probe results from KLS23-009, which targeted overburden beneath the “black soil”* anomaly discovered by our team in 2022 and assaying 0.93 wt.% U₃0₈**, returned readings up to 235 cps. In comparison, DDH KLS23-007, located about 1.0 km from the black soil anomaly, returned values up to 1,254 cps from a significantly wider interval within overburden, rendering this as a compelling target for follow-up exploration.”

* See Traction news release dated September 27^th, 2022
** See Traction news release dated November 14^th, 2022

The diamond drilling was completed on March 26, 2023, with logging and sampling expected to be completed by April 3^rd. The geological team at Aurora Geosciences Ltd. will deliver the samples to the Saskatchewan Research Council for geochemical analysis following completion of the Winter 2023 Key Lake South Phase 1 drill program.

Carl Schulze, Senior Project manager with Aurora Geosciences Ltd. of Whitehorse, Yukon, states: “Recent core logging has identified several other zones of strong chlorite-epidote alteration, similar to the anomalous zone in DDH KLS23-007, within holes KLS23-005, 008 and 010. This indicates the alteration system occurs at multiple sites within the KLS Property. Of particular interest is a zone of similar alteration in the contact area between basement orthogneiss and underlying basement metasediments hosting graphitic fractures in DDH KLS23-008.”

Figure 1: DDH KLS23-001

Figure 2: DDH KLS23-002

Figure 3: DDH KLS23-002A (40.7m) Veined Redox Boundary

Figure 4: DDH KLS23-002A (57.75m depth) Clay-Epidote Zone

Figure 5: DDH KLS23-007, Core from Anomalous Zone (47.37 – 64.57m)

Figure 6: DDH KLS23-008 (146.4m depth). Hematitic breccia

Figure 7: DDH KLS23-008 (160.2 m depth): Quartz-garnet zone

Figure 8: DDH KLS23-008 (154.4m depth): Banded chlorite, garnet

Table 1: Drill collar data, KLS 2023 Program

NOTES:

^{Cps* = “counts-per-second”, as measured with a downhole probe. The reader is cautioned that the Company uses downhole probe readings as a preliminary indication of the presence of radioactive materials (uranium, thorium and/or potassium), and that downhole probe results may not be used directly to quantify or qualify uranium concentrations of the rock samples measured.}

^{The Company considers all downhole probe readings greater than 100 cps to be considered “elevated radioactivity”, with background radioactivity measuring between 50 to 100 cps.}

^{All reported drill hole intervals are drill core lengths and do not represent thickness which have yet to be determined.}

About the Property

The KLS Property is located approximately 6 kilometers to the southwest of the Key Lake uranium mill and in close vicinity to modern uranium mining facilities and highway transportation in northern Saskatchewan. Geologically, it sits at the southeastern edge of the Proterozoic Athabasca Basin..

About Traction Uranium Corp.

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