Cosmos Exploration (EAU) Q1 2025 TU earnings summary

Executive summary

• Completed maiden rock chip sampling at Fenix and Nut Lake South projects in Nunavut, Canada, with uranium mineralisation exceeding 1% U3O8 at multiple prospects.

• Community engagement secured First Nations and local stakeholder support, granting access to key claims.

• Corporate focus remains on uranium exploration in the Thelon Basin, with ongoing project reviews for portfolio expansion.

Financial highlights

• Exploration and evaluation expenditure for the quarter was $169,000; administration and corporate costs totaled $246,000, including $101,000 in related party payments.

• Cash inflows from financing activities were $400,000, resulting in a quarter-end cash balance of $669,000.

• Net cash used in operating activities was $414,000 for the quarter.

Outlook and guidance

• Further exploration planned at Fenix and Nut Lake South, including additional prospecting, shallow diamond drilling, and mineralogical studies.

• XRD and micro-XRF analyses to be conducted on selected rock chips to guide future exploration.

• Company expects similar cash flows next quarter and is in discussions with financiers for further funding.