Major Expansion Of Copper Mountain Project Area To Lock Up Mineralized Extensions

VANCOUVER - Myriad Uranium Corp. reported on the expansion of the Copper Mountain Project Area, from approximately 4,200 acres to approximately 9,320 acres. The selection of newly-acquired areas was guided by insights from the Company's 2024 maiden drill program, proprietary historical data, and advice from Jim Davis, who was General Manager of Union Pacific's exploration program at Copper Mountain during the 1970s.

The newly-acquired areas include prospects, generally known as Railroad, Steffen Hill, Cedar Ridge, Mole, West Mesa, and Lucky Cliff, plus extensions into areas of known mineralisation adjacent to Fuller/Utah, Mint, Arrowhead, Midnight, and Knob. Most of the new areas have historically confirmed uranium mineralisation at surface or subsurface and may be prospective for other minerals, as described in historic reports.

All areas have significant expansion potential beyond known mineralisation, including at depth. Union Pacific estimated that the potential within their existing deposit areas could exceed 65 Mlbs with further exploration. An assessment by Bendix for the NURE program concluded that the mineral endowment within the known deposit areas could exceed 200 Mlbs and could exceed 600 Mlbs in the greater Copper Mountain district.

Some of the newly-acquired areas were previously targeted for uranium mineralisation in sandstone. This is important because sandstone-hosted deposits could be more amenable to in-situ recovery methods, if the conditions are favourable. All of the new areas were acquired by staking. A small percentage of tenements at Copper Mountain are split, in that only subsurface rights are held. In those cases, surface access will be negotiated on a case-by-case basis with surface rights holders as required.

CEO, Thomas Lamb, said, "I've referred to the blue sky potential of Copper Mountain in the past, but perhaps without the emphasis it deserved, since we didn't have all key areas tied up. But now I feel more comfortable doing so. During the 1970s Union Pacific estimated the potential of known deposits and prospects within their areas at Copper Mountain at over 65 Mlbs. But subsequent estimates by experts such as Bendix (for the US Department of Energy) and the authors of a 2010 comprehensive data review for Neutron Energy (now part of enCore) put the district's potential even higher. All the historical reports suggest something similar:

'Field work, drilling and evaluations of the data produced has established that there is potentially a very large resource of uranium at Copper Mountain. Perhaps as much as several hundred million pounds. - Neutron Energy, 2010'

We intend to control the key areas that will enable us to test this potential. Previous exploration has shown that the newly-acquired areas have exciting potential and could significantly increase our mineral endowment at Copper Mountain. I should remind readers that all of the estimates of potential I refer to, and, indeed, any other estimates in this news release, are 'historical estimates'.

Geological models by various experts suggest that deeper thrust faulting across the Copper Mountain District may have acted as conduits for fluid movement. At Canning, for example, this could have resulted in the potentially significant mineralisation below Union Pacific's 500-600 foot "hard deck" maximum drilling depth that we encountered. It is this deeper mineralisation that Anaconda was chasing at our newly-acquired Railroad prospect and their initial intercepts from just a few holes may help substantiate the hypothesis that there is connected deeper mineralisation across Copper Mountain.

I think it's apposite here to quote Jim Davis and D.T. Wilton (2010):

'The Copper Mountain Uranium District has an enormous uranium endowment in the granites which make up the core of the Owl Creek mountain range. This uranium endowment, mobilized by extensive hydrothermal solutions acting within a complex structural system and demonstrated host situations, represents an attractive potential for large uranium deposits based on world class models, including the French granites; Nabarlek, Australia and Beaverlodge, Canada.'

As you can see, we have a tremendously positive outlook for Copper Mountain. Our plan for 2025 includes new exploration plans for the numerous prospects identified at Copper Mountain, each having the potential to yield exciting results and increase the overall potential of Copper Mountain, which could become one of Wyoming's largest uranium districts."