Rush Rare Metals Confirms Myriad Uranium's 75% Copper Mountain Earn-In

Executive Summary

• Myriad Uranium Corp. has earned a 75 % interest in the Copper Mountain Uranium Project by spending over $5.5 million on eligible expenditures under the option agreement.
• The earn‑in triggers discussions of a possible merger and the commencement of joint‑venture negotiations between Rush Rare Metals Corp. and Myriad.
• Rush retains a 25 % interest in Copper Mountain and continues to focus on its Boxi Property in Québec.

Key Details

• Earn‑in Achievement: Myriad satisfied the spend requirement, converting its option into a 75 % earned interest in Copper Mountain (Wyoming, USA).
• Expenditure Amount: Over $5.5 million of eligible costs were incurred by Myriad to meet the earn‑in threshold.
• Option Agreement Date: Original property option agreement dated 18 Oct 2023, as amended.
• Ownership Structure Post‑Earn‑In: Rush now holds a 25 % interest; Myriad holds 75 %.
• Potential Merger: Both parties are actively discussing a merger and will explore this “in the coming weeks.”
• Joint Venture Negotiations: If a merger does not proceed, the companies will commence negotiations on a joint‑venture agreement, using commercially reasonable efforts as stipulated in the option agreement.
• CEO Comment (Peter Smith): Highlighted the milestone, expressed enthusiasm for Copper Mountain’s development, and noted ongoing strategic discussions with Myriad.

Notable Quotes

“Congratulations to Myriad for hitting this milestone… Both sides continue to discuss prospects for a merger, and we intend to explore this in the coming weeks…” – Peter Smith, CEO, Rush Rare Metals Corp.