Traction Uranium Announces Closing of Non-Brokered Flow-Through Private Placement

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

CALGARY, Alberta, Aug. 28, 2026 (GLOBE NEWSWIRE) -- Traction Uranium Corp. (CSE: TRAC) (OTC: TRCTF) (FRA: Z1K) (the “Company” or “Traction”) is pleased to announce that it has closed its previously announced non-brokered private placement of units of the Company (each, a "Unit") at a price of C$0.95 per Unit, issuing 789,500 Units for aggregate gross proceeds of C$ $750,025.00 (the "Offering").

Each Unit consists of one common share of the Company issued as a "flow-through share" within the meaning of the Income Tax Act (Canada) (the "Tax Act") (each, an "FT Share") and one-half of one transferable common share purchase warrant of the Company (each whole warrant, a "Warrant"). Each Warrant entitles the holder to acquire one non-flow-through common share of the Company (each, a "Warrant Share") at an exercise price of C$1.05 per Warrant Share for a period of 24 months from the date of issuance. In connection with the closing of the Offering, the Company issued 789,500 FT Shares and 394,750 Warrants.

The gross proceeds from the issuance of the FT Shares will be used to incur eligible "Canadian exploration expenses" that are intended to qualify as "flow-through mining expenditures", as those terms are defined in the Tax Act, on the Company's mineral properties, including the Company's Aurora Project. The Company intends to renounce those expenses to the initial purchasers of the FT Shares with an effective date no later than December 31, 2026, in an aggregate amount not less than the gross proceeds raised from the issuance of the FT Shares.

In connection with the closing of the Offering, the Company paid aggregate finder's fees of C$49,651.75 in cash and issued 52,265 finder's warrants (each, a "Finder's Warrant") to eligible finders. Each Finder's Warrant entitles the holder to acquire one non-flow-through common share of the Company at an exercise price of C$1.05 for a period of 24 months from the date of issuance. All securities issued in connection with the Offering are subject to a statutory hold period of four months and one day from the date of issuance, expiring December 29, 2026.

The securities issued pursuant to the Offering have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons in the absence of U.S. registration or an applicable exemption from the U.S. registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or in any other jurisdiction in which such offer, solicitation or sale would be unlawful.

About Traction Uranium Corp.

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

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

On Behalf of The Board of Directors

Jared Suchan
CEO and Director
(604) 425-2271
info@tractionuranium.com

Forward-Looking Statements

Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current beliefs or assumptions as to the outcome and timing of such future events. In particular, this press release contains forward-looking information relating to, among other things, the proposed use of proceeds therefrom.

Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information, including, in respect of the forward-looking information included in this press release, assumptions regarding the future plans and strategies of the Company. Although forward-looking information is based on the reasonable assumptions of the Company's management, there can be no assurance that any forward-looking information will prove to be accurate. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include, among other things, the risk that the Company's plans with respect to the use of any proceeds received from the Offering may change; and the risk that the Company's business prospects and priorities may change, whether as a result of unexpected events, general market and economic conditions or as a result of the Company's future exploration efforts, and that any such change may result in a re-deployment of the Company's resources and efforts in a manner divergent from the Company's current business plan or strategy. The forward-looking information contained in this release is made as of the date hereof, and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

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