---
title: "Canadian Uranium Provides Update On Cable Lake Property Option Payments"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/286252306.md"
description: "Canadian Uranium Corp. has updated its agreement regarding the Cable Lake Property, amending the terms of the option agreement with Citizen Mining Corporation and Doctors Investments Group Ltd. The company will pay a total of $1,250,000 in installments and incur exploration expenditures of $2.2 million by specified deadlines. Canadian Uranium holds an 80% interest in the option agreement, making it responsible for 80% of the payments and expenditures. The company focuses on uranium exploration in the Athabasca Basin."
datetime: "2026-05-13T11:30:03.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/286252306.md)
  - [en](https://longbridge.com/en/news/286252306.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/286252306.md)
---

# Canadian Uranium Provides Update On Cable Lake Property Option Payments

(TheNewswire)

Vancouver, British Columbia – May 13, 2026 –TheNewswire - CanadianUranium Corp. (the “Company” or “Canadian Uranium”)(CSE: CANU, OTCQB: CANUF, WKN: A41WE6) announcesthat it has entered into an addendum (the “Addendum”) to theoption assignment agreement dated October 1, 2025 (the “Assignment Agreement”) among the Company, Citizen Mining Corporation(“Citizen”) and Doctors Investments Group Ltd. (“Doctors”), pursuantto which Canadian Uranium acquired an undivided 80% interest inCitizen’s rights under an option agreement dated November 12, 2024between Citizen and Doctors (the “Option Agreement”).As a result of the Assignment Agreement, Canadian Uranium and Citizenmay acquire an 80% interest and 20% interest, respectively, in theCable Lake Property.

Pursuant to the Addendum, the parties agreed to amendthe terms of the Option Agreement, such that to exercise the option inaccordance with the Option Agreement, Citizen and Canadian Uraniummust:

-   pay Doctors an aggregate of $1,250,000 asfollows:

a) $350,000 on signing of theOption Agreement, which Citizen has paid;

b) $200,000 on or before July1st,2026;

c) $300,000 on or before July1st,2027; and

d) $400,000 on or before July1st,2028; and

-   incurring exploration expenditures on the Property asfollows:

a) $400,000 on or beforeSeptember 1, 2026; and

b) $1,800,000 on or beforeDecember 31, 2028

As Canadian Uranium holds an 80% interest in the OptionAgreement, Canadian Uranium is responsible for 80% of the remainingpayments and exploration expenditures required to exercise the optionfor the Cable Lake Property.

About Canadian Uranium Corp.

Canadian Uranium Corp. is an emerging uraniumexploration and development company focused on the prolific AthabascaBasin - the world’s premier district for high-grade uraniumdeposits. The Company’s strategy centers on assembling highlyskilled technical teams with expertise in uranium geology, advancedgeophysics, and northern exploration logistics. Through disciplinedacquisitions, innovative exploration methodologies, and strategicpartnerships, the Company aims to accelerate project advancement andunlock value across its exploration portfolio.

Contact Information:

Canadian Uranium Corp.

Geoff Balderson, Chief Financial Officer

604-602-0001

gb@corporateminds.ca

Forward-Looking Statements

This news release contains certain forward-lookingstatements that are “forward looking information” within themeaning of applicable securities laws. All statements that are nothistorical facts, including without limitation, statements regardingfuture estimates, plans, programs, forecasts, projections, objectives,assumptions, expectations or beliefs of futureperformance, including statements regarding the Assignment Agreement,the Addendum, and the performance and terms of the Option Agreement, ,are “forward-looking information”. These forward-lookingstatements reflect the expectations or beliefs of management of theCompany based on information currently available to it.Forward-looking statements are subject to a number of risks anduncertainties, including those detailed from time to time in filingsmade by the Company with securities regulatory authorities, which maycause actual outcomes to differ materially from those discussed in theforward-looking statements. These factors should be consideredcarefully and readers are cautioned not to place undue reliance onsuch forward-looking statements. The forward-looking statements andinformation contained in this news release are made as of the datehereof and the Company undertakes no obligation to update publicly orrevise any forward-looking statements or information, whether as aresult of new information, future events or otherwise, unless sorequired by applicable securities laws.

Neither the Canadian SecuritiesExchange nor its Regulation Services Provider accepts responsibilityfor the adequacy or accuracy of this release.

Copyright (c) 2026 TheNewswire - All rights reserved.

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