Mr. Lester Esteban reports

TRACTION URANIUM CORP. CLOSES SECOND AND FINAL TRANCHE OF PRIVATE PLACEMENT

Traction Uranium Corp. has closed the second and final tranche of a non-brokered private placement offering of units and flow-through units of the company. The offering, initially announced on April 12, 2023, comprised both units of the company and flow-through units of the company.

On April 20, 2023, the company announced it had closed the first tranche of the offering issuing 3.05 million units of the company at a price of 40 cents per unit for aggregate gross proceeds of $1.22-million. Each unit consisted of one common share in the capital of the company and one-half common share purchase warrant, whereby each whole common share purchase warrant is exercisable into one share at an exercise price of 55 cents until April 20, 2025, being the date that is 24 months from the date of issue.

In closing the second and final tranche of the offering, the company has issued 5,644,312 FT units on an oversubscribed basis at a price of 45 cents per FT unit for gross proceeds of $2,539,940.40. Each FT unit consists of one common share in the capital of the company that qualifies as a flow-through share as defined in the Subsection 66(15) of the Income Tax Act (Canada), and one-half warrant, whereby each whole warrant is exercisable into one share at an exercise price of 55 cents until May 9, 2025, being the date that is 24 months from the date of issue.

The net proceeds from the sale of the units are intended to be used for general and administrative expenditures as well as non-flow-through exploration and evaluation expenditures. The company will use an amount equal to the FT proceeds, pursuant to the provisions in the Tax Act to incur eligible Canadian exploration expenses that qualify as flow-through critical mineral mining expenditures as both terms are defined in the Income Tax Act (Canada) related to the company's projects in Saskatchewan, on or before Dec. 31, 2024, and to renounce all the qualifying expenditures in favour of the subscribers of the FT units effective Dec. 31, 2023. If the qualifying expenditures are reduced by the Canada Revenue Agency, the company will indemnify each FT unit subscriber for any additional taxes payable by such subscriber as a result of the company's failure to renounce the qualifying expenditures as agreed.

In connection with closing the second and final tranche, the company incurred aggregate cash finders' fees of $125,399.41 and issued a total of 271,966 finders' warrants. Each finder's warrant is exercisable into one share at an exercise price of 55 cents until May 9, 2025, being the date that is two years from the date of issue.

All securities issuable in connection with the second and final tranche are subject to a statutory hold period, in accordance with applicable securities laws, of four months and one day from the date of issue, expiring Sept. 10, 2023.

About Traction Uranium Corp.

Traction Uranium 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 seek Safe Harbor.