Results From Twenty Boreholes At Copper Mountain Uranium Project

VANCOUVER - Myriad Uranium Corp. reported on chemical assay (U3O8) grades from 20 boreholes at the Copper Mountain Uranium Project in Wyoming. Chemical assay (U3O8) has been compared against the previously reported equivalent spectral gamma probe results (eU3O8) and confirms high-grade uranium mineralisation at the Canning Deposit. Furthermore, certain U3O8 intervals are higher, and lower, than their previously reported eU3O8 grades, indicating secular disequilibrium is present in the system. The U3O8 grades reported here are on average 20% higher than the eU3O8 grades over the same intervals. Results from the remaining 14 boreholes are pending and will be reported in due course.

Although there is both positive and negative variance (disequilibrium), the uranium grades we have confirmed by chemical assay are on average 20% higher than previously reported spectral gamma probe results. Many intervals thought to contain low uranium concentrations based on gamma probe results have significantly higher concentrations than expected. This could have important implications for the project. The drill sampling will be expanded to include samples previously excluded as "low-grade" according to the gamma probe results. Overall, results re-confirm the strong occurrence of high-grade intervals previously reported from the Canning Deposit, with numerous intervals exceeding 1,000 ppm U3O8 over more than 3 feet and often exceeding the previously reported eU3O8 values.

Thomas Lamb, CEO, said, "Assays are 20% higher on average than our previously reported gamma probe results. Furthermore, assays have revealed extensive higher-grade uranium mineralisation where the probe detected low values. The potential implications of this are still being considered by management and its advisors. At a minimum, this is preliminary confirmation that, as some experts suspected, Union Pacific may have taken a conservative approach to accounting for disequilibrium at Copper Mountain.?Overall, the results are a material improvement on the already excellent gamma probe results. I must caveat that these results only relate to one part of the project area, and historic grade discounting to account for potential disequilibrium may not apply across the entire project area. Although of course we hope it does. It may be that there are large volumes of uranium at Copper Mountain that have never been picked up by the gamma probes. We now need to analyse additional core and RC chips that may contain significant uranium mineralisation. We are waiting for assays relating to the remaining 14 boreholes which includes the deeper mineralisation at over 1,500 feet we picked up in CAN0034."