Option To Acquire The Red Basin Uranium Project

VANCOUVER - Myriad Uranium Corp. has entered into a property option agreement with First American Uranium Inc. and its 60%-owned subsidiary, FirstAmerican Energy Fuels Ltd., pursuant to which Myriad has the option to earn a 100% interest in and to the First American Red Basin Uranium Project, comprised of 86 lode claims in the Red Basin area of the Datil Mountains - Pietown Uranium District, Catron County, New Mexico covering approximately 1,776 acres (approximately 719 hectares).

CEO Thomas Lamb said, "We believe the acquisition of Red Basin is a significant coup for the Company, resembling in some ways the Copper Mountain transaction, where we quickly unlocked enormous value. We intend to do the same here. This transaction gives us high grade pounds near surface with big upside (note these are historical pounds). Access is excellent. I'm very pleased."