Myriad Uranium Completes High-Resolution Ground Geophysics at Red Basin, Secures 100% Ownership, and Launches Market Awareness Program

Executive Summary

• Myriad Uranium completed ground radiometric and magnetic surveys, satisfying the earn‑in conditions of its option agreement and now holds a 100 % interest in the Red Basin Project (≈1,776 acres) in New Mexico.
• The company engaged Machai Capital Inc. for a 12‑month market‑awareness program, paying $300,000 cash (plus GST) and issuing 300,000 stock options at an exercise price of $0.35, vesting March 25 2026.
• Historical data suggest the Red Basin area could contain 30–45 million lbs U₃O₈ (potentially with associated vanadium), providing a substantial upside for future exploration and development.

Key Details

• Earn‑in Fulfilment: Completion of ground geophysical surveys (160 line‑km magnetic, 142 line‑km gamma) meets the earn‑in requirements under the Option Agreement dated Jan 30 2025 with First American Uranium Inc. and its subsidiary First American Energy Fuels Ltd.
• Ownership: Myriad now owns 100 % of the 86 lode claims (≈1,776 acres) comprising the Red Basin Project.
• Survey Parameters:
• Magnetic survey: 50 m line spacing, 160 line‑km collected, station spacing ~0.2 m, 5 Hz sampling.
• Gamma‑ray mapping: 50 m line spacing, 142 line‑km collected, station spacing ~1 m, 1 Hz sampling.
• Preliminary Results: Magnetic imagery shows channel‑like features correlating with surface drainage; further interpretation and ground‑truthing are planned.
• Historical Resource Context: Open‑File report (NM BMM) estimates the broader Red Basin district could host 30–45 M lbs U₃O₈ and up to 1.64 % V₂O₅ vanadium. A 1980 DOE assessment cited ≈1.6 M lbs U₃O₈ at 0.31 % grade within Myriad’s claim area.
• Marketing Agreement with Machai Capital:
• Term: 12 months (effective Nov 25 2025).
• Services: digital content creation, social media, email marketing, SEO.
• Compensation: $300,000 cash + 300,000 stock options (exercise price $0.35, vesting Mar 25 2026, exercisable until Nov 25 2027).
• Qualified Person Review: Information approved by George van der Walt, MSc., FGSSA, a Qualified Person under NI 43‑101; historical estimates are disclosed with caution and not classified as current resources or reserves.

Notable Quotes

“We are delighted to complete this earn‑in to 100 % ownership of Red Basin… The entire basin is estimated to contain up to 45 M lbs of uranium and our acreage within it is excellent, comprising the vast majority of historical drilling and known resources.” – Thomas Lamb, President & CEO

“We are also pleased to announce a significant new investment in investor awareness with the engagement of Machai Capital… this is the right moment to expand our international visibility as we advance our projects.” – Thomas Lamb