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Myriad Uranium Corp. (CSE: M,OTC:MYRUF) (OTCQB: MYRUF) (FSE: C3Q) ("Myriad" or the "Company") is pleased to announce that it has earned a 75% interest in the Copper Mountain Uranium Project in Wyoming, USA (also, the "Project") by spending over $5.5 million on eligible expenditures under the property option agreement (the "Option Agreement") with Rush Rare Metals Corp. ("Rush") dated October 18, 2023, as amended. Myriad's 75% interest and Rush's 25% interest in the Project are subject to certain underlying NSR royalties.
Myriad's CEO Thomas Lamb commented:
"Reaching the 75% expenditure threshold is an important milestone for the Company, and it comes at a moment when the scale and potential of Copper Mountain are becoming increasingly clear. Our first phase of drilling and exploration has significantly exceeded expectations and the Project has the potential to be one of America's largest."
About Myriad Uranium Corp.
Myriad Uranium Corp. is a uranium exploration company which holds a 75% interest in the Copper Mountain Uranium Project in Wyoming, USA. Copper Mountain hosts several known uranium deposits and historic uranium mines, including the Arrowhead Mine which produced 500,000 lbs U3O8. Copper Mountain saw extensive drilling and development by Union Pacific during the late 1970s including the development of a mine plan to fuel a planned fleet of California Edison reactors. Operations ceased in 1980 before mining could commence due to falling uranium prices. Approximately 2,000 boreholes have been drilled at Copper Mountain, and the Project has significant exploration upside. Union Pacific is estimated to have spent C$117 million (2024 dollars) exploring and developing Copper Mountain, generating significant historical resource estimates. The Company also holds a 100% interest in the Red Basin Uranium Project in New Mexico, which has a near-surface mineralisation, with significant upside potential. Our Crux Investor overview page including recent interviews can be viewed here. The Company's presentation can be viewed here . News releases regarding historical drilling can be viewed here and here. News releases regarding chemical assays of 2024 Copper Mountain drilling can be viewed here and here. A news release detailing a comprehensive assessment of Copper Mountain's uranium endowment by Bendix Engineering for the US Department of Energy published in 1982 can be viewed here.
For further information, please refer to Myriad's disclosure record on SEDAR+ (www.sedarplus.ca), contact Myriad by telephone at +1.604.418.2877, or refer to Myriad's website at www.myriaduranium.com.
Myriad Contacts:
Thomas Lamb
President and CEO
tlamb@myriaduranium.com
Forward-Looking Statements
This news release contains "forward-looking information" that is based on the Company's current expectations, estimates, forecasts and projections. This forward-looking information includes, among other things, the Company's business, plans, outlook and business strategy. The words "may", "would", "could", "should", "will", "likely", "expect," "anticipate," "intend", "estimate", "plan", "forecast", "project" and "believe" or other similar words and phrases are intended to identify forward-looking information. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect, including with respect to the Company's business plans respecting the exploration and development of the Company's mineral properties, the proposed work program on the Company's mineral properties and the potential and economic viability of the Company's mineral properties. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: changes in economic conditions or financial markets; increases in costs; litigation; legislative, environmental and other judicial, regulatory, political and competitive developments; access to minerals where the surface rights above them have not been settled; and technological or operational difficulties. This list is not exhaustive of the factors that may affect our forward-looking information. These and other factors should be considered carefully, and readers should not place undue reliance on such forward-looking information. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by applicable law.
The CSE has not reviewed, approved or disapproved the contents of this news release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/277243
