Mr. Lester Esteban reports

TRACTION URANIUM ANNOUNCES CLOSING OF THE FIRST TRANCHE OF LIFE OFFERING AND FT UNITS OFFERING

Further to the news release of Oct. 27, 2023, which announced: (i) a non-brokered private placement of up to 10 million units of the company pursuant to the listed issuer financing exemption for gross proceeds of up to $1.5-million; and (ii) a non-brokered private placement of up to 5,714,285 flow-through units of the company for gross proceeds of up to $1-million, Traction Uranium Corp. has closed the first tranche of the life offering and the FT unit offering by issuing 793,334 units at a price of 15 cents per unit and 3,589,144 FT units at a price of 17.5 cents per FT unit for aggregate gross proceeds of $747,100.30.

Each unit consisted of one common share in the capital of the company and one common share purchase warrant of the company. Each warrant entitles the holder thereof to acquire one additional share at a price of 20 cents per warrant share for a period of 24 months from the date of issuance. The units were offered pursuant to the life exemption under Part 5A of National Instrument 45-106 (Prospectus Exemptions), and therefore, the securities issued thereunder are not subject to a hold period in accordance with applicable Canadian securities laws. The proceeds from the life offering are intended to be used to advance the company's three flagship uranium projects in the Athabasca region and for other general corporate purposes.

Each FT unit consisted of one flow-through common share in the capital of the company and one warrant, whereby each warrant shall entitle the holder thereof to purchase an additional share at an exercise price of 20 cents for a period of 24 months from the date of issuance. The securities issued from the FT unit offering are subject to a statutory hold period of four months and one day from Nov. 14, 2023. The proceeds from the FT unit offering will be used by the company to incur eligible Canadian exploration expenses that qualify as flow-through mining expenditures, as both terms are defined in the Income Tax Act (Canada).

In connection with the closing of the first tranche, an aggregate of $44,826 was paid in cash, and a total of 262,948 finders' warrants were issued as finders' fees. Each finder's warrant entitles the holder thereof to acquire one common share in the capital of the company at a price of 20 cents per finder's warrant share for a period of 24 months from Nov. 14, 2023.

The life offering and the FT offering, in their entirety, are expected to close on or about Nov. 30, 2023, and are subject to certain conditions, including, but not limited to, the receipt of all necessary regulatory and other approvals.

About Traction Uranium Corp.

Traction Uranium is in the business of mineral exploration and the development of uranium discovery prospects in Canada, including its three uranium projects in the world-renowned Athabasca region.

We seek Safe Harbor.