Myriad Uranium Announces Details of Comprehensive Historical Assessment of Copper Mountain's Large-Scale Uranium Endowment

Executive Summary

• Myriad Uranium obtained a comprehensive 600‑page 1982 Bendix Field Engineering report for the U.S. DOE, revealing historic estimates of ~245 M lbs U₃O₈ in the “Control Area” and ~655 M lbs U₃O₈ in the broader “Assessment Area” at Copper Mountain, Wyoming.
• The company holds roughly 70% of the Control Area (and a higher share of historic boreholes) and about 29% of the Assessment Area, positioning it to target new intermediate‑grade uranium deposits identified by structural scoring.
• Management highlighted recent deep drilling (to ~1,500 ft) that intersected uranium below the historical “hard deck,” suggesting additional upside beyond the historic endowment estimates.

Key Details

• Report Acquisition: Full Bendix study titled “An Exploration Systems Approach to the Copper Mountain Area Uranium Projects” (Sept 1982), >600 pages, now available for Myriad’s internal analysis.
• Historical Endowment Estimates:
• Control Area – ~245 M lbs U₃O₈ down to 600 ft (intermediate grade 100‑500 ppm eU₃O₈).
• Assessment Area – ~655 M lbs U₃O₈ down to 600 ft.
• Ownership Stakes:
• Myriad & partner Rush Rare Metals hold ≈70% of the Control Area and a higher proportion of historic boreholes therein.
• They own ≈29% of the total Assessment Area.
• Structural Scoring Outcomes: Identified several high‑potential target zones lacking drill data, especially within grabens, fault intersections, and subsidiary faults.
• Sedimentary vs. Granitic Endowment (historical):
• Tepee Trail Formation (sediments) – ~13.4 M lbs in Control Area; ~48 M lbs in Assessment Area.
• Precambrian granites – ~232 M lbs in Control Area; ~608 M lbs in Assessment Area.
• Recent Drilling Highlights (2024):
• Intercepts at 1,495 ft below Canning and other deep zones, indicating possible unconformity‑related mineralization beneath the historic 600 ft limit.
• Anaconda’s drilling on the newly acquired Railroad area also returned notable deep uranium hits.
• Forward‑Looking Plans: Myriad will integrate the Bendix data with its own historic datasets to develop a refined set of exploration targets; results will be disclosed in future filings.
• Qualified Person: George van der Walt, MSc., Pr.Sci.Nat., FGSSA (qualified under NI 43‑101).

Notable Quotes

“The conclusions of the 1982 studies are exciting to us… The core area of Copper Mountain has a potential uranium endowment of ~245 M lbs down to 600 ft. We hold about 70% of this area and a higher percentage of its boreholes.” – Thomas Lamb, President & CEO

“There is a huge amount of uranium in the neighborhood and this information will help us to vector in on it.” – George van der Walt, Consulting Geologist