Cosmos’ Angilak West project is located approximately 30 km’s west of Atha Energy’s Angilak deposit.

The Angilak deposit is the second largest uranium deposit in the Thelon District containing 43.3 million pounds of U3O8 at 0.69% U3O8 held by Atha Energy. It is recognised for its substantial expansion potential and ranks among the highest grade uranium resources globally outside of the Athabasca Basin (See TSX:SASK announcement June 3 2024).

Cosmos has staked highly prospective ground to the west of Angilak along the same key mineralising northwest cross structures, containing several significant geological parameters:

• Extensions of Northwest-Trending Structures from the Angilak deposit: Airborne magnetic imagery indicates key northwest trending cross-structures that extend westward from Angilak to Cosmos’ Angilak West project. These fluid pathway structures are interpreted to be critical for ore formation at Angilak.
• Radioactive Occurrences: A series of radioactive occurrences were reported by Kivalliq Energy Corp. in 2012, in addition to radioactive occurrences in the geological survey database.
• Proximity to the Snowbird Tectonic Zone: The selected area is in close proximity to a major crustal scale structure known as the Snowbird Tectonic Zone, which is a favourable structure for ore formation and runs parallel to the prospective unconformity defining the Archean/Paleoproterozoic basement and overlying Proterozoic sediments of the Yathkyed Basin.