Myriad Uranium Reports on Additional Chemical Assays From 34 Boreholes at Copper Mountain

Executive Summary

• Updated chemical assay results from the October‑November 2024 drilling program at the Copper Mountain Uranium Project (Canning deposit) show significantly higher uranium grades than previously reported, with an average increase of ~20% across all samples.
• The additional sampling identified 70 new mineralised intervals and extended 12 existing intervals, including high‑grade intercepts such as 841 ppm U₃O₈ over 2.95 ft (CAN0031) and 804 ppm U₃O₈ over 2.95 ft (CAN0023).
• The results reinforce the company’s technical confidence in a large uranium endowment at Copper Mountain and support its upcoming 222‑borehole drilling plan under the recently approved plan of operations.

Key Details

• Drilling Program: 34 boreholes drilled at the Canning deposit in late 2024; 706 additional samples submitted for chemical assay (total ~1,500 planned).
• Grade Enhancement:
• Grades ≥ 1,000 ppm eU₃O₈ were on average 60% higher than gamma‑probe equivalents.
• Grades ≥ 500 ppm eU₃O₈ were on average 50% higher.
• Overall chemical assay grades increased ~20% versus radiometric estimates.
• New & Extended Intervals:
• At 500 ppm cut‑off: 5 entirely new intervals reported.
• At 200 ppm cut‑off: 20 new intervals, 12 extensions.
• At 100 ppm cut‑off: 31 new intervals, 45 extensions.
• Highlighted High‑Grade Intercepts (≥ 500 ppm U₃O₈):
• CAN0017 – 502 ppm over 2.62 ft (783.92–786.54 ft)
• CAN0019 – 533 ppm over 4.92 ft (220.74–225.66 ft)
• CAN0023 – 623 ppm over 1.32 ft (304.38–305.70 ft) and 804 ppm over 2.95 ft (547.43–550.38 ft)
• CAN0031 – 841 ppm over 2.95 ft (201.39–204.34 ft)
• Drilling Details: Combination of diamond‑core (DD) and reverse‑circulation (RC) rigs; core sampled at 3‑ft intervals (minimum 1 ft), RC samples split at 5‑ft intervals.
• Assay Laboratory: Paragon Geochemical, Sparks, Nevada – multi‑element ICP‑MS analysis with QA/QC (blanks, standards, duplicates ≥ 5%).
• Radiometric Disequilibrium: Chemical assays on average 1.2× higher than gamma probe values, indicating possible uranium daughter product mobility; further sampling and high‑resolution spectral analyses planned to investigate the cause.
• Corporate Context: CEO Thomas Lamb notes that the new assay data, together with historic Bendix study (≈ 245 M lb U₃O₈ in central Copper Mountain), bolster confidence in the project’s resource potential and underpin the approved 222‑borehole drilling plan.
• Merger Update: Ongoing due diligence with Rush Rare Metals Corp.; further transaction update to follow.

Notable Quotes

“These new chemical assays… build on the strong foundation established by the Bendix study… provide a high level of confidence in Copper Mountain’s uranium potential and a strong technical foundation for our next stage of exploration.” – Thomas Lamb, President & CEO