01:30 PM EDT, 06/25/2025 (MT Newswires) -- Cosa Resources ( COSAF ) on Wednesday said a 3,000-meter summer drilling program targeting the Hurricane and Cyclone trends on the Murphy Lake North (MLN) Project is underway.

MLN is a joint venture between Cosa and Denison Mines (DML.TO) located in the eastern Athabasca Basin in northern Saskatchewan. Cosa is the project operator and holds a 70% interest with Denison holding a 30% interest.

Among highlights, the company stated that it is the "largest drill program" to date on the project.

The company said the drilling is planned to follow up significant sandstone alteration intersected by winter drilling at the Hurricane trend and to complete reconnaissance testing of the parallel Cyclone trend.

"We are eager to continue testing promising targets at the Hurricane and Cyclone trends following the encouraging results of our inaugural winter program earlier this year," said Chief Executive Officer Keith Bodnarchuk. "With positive sentiment returning to the uranium sector and the continued support of our Joint Venture partner and largest shareholder, Denison, we are well-positioned to advance the Murphy Lake North Project toward its full potential."

A statement noted Denison indicated it intends to fund its share of exploration costs that exceed Cosa's sole-funding obligation in order to retain its 30% interest in the project.

The company's shares were last seen up $0.02 to $0.23 on the TSX Venture Exchange.

Price: 0.23, Change: +0.02, Percent Change: +9.52