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Myriad to Accelerate Option on Initial 50% of Copper Mountain

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Myriad Uranium Corp. (CSE: M) (OTCQB: MYRUF) is accelerating its option to acquire an initial 50% interest in the Copper Mountain Uranium Project in Wyoming, USA. The company will issue 1,093,702 common shares to Rush Rare Metals Corp., valued at $400,000. This acceleration is possible as Myriad's qualifying expenditures at Copper Mountain have exceeded $1,500,000.

The shares will be issued at a deemed price of approximately $0.365 per share, subject to a four-month hold period. Myriad's CEO, Thomas Lamb, expressed confidence in the project's potential scale and quality. The company is focused on securing full 75% ownership of the project.

Additionally, Myriad has entered into a consulting services agreement with Arrow Park Capital Corp. for advertising and social media management services from October 21, 2024, to January 31, 2025, for a fee of $32,500 plus taxes.

Myriad Uranium Corp. (CSE: M) (OTCQB: MYRUF) sta accelerando l'opzione per acquisire una partecipazione iniziale del 50% nel Copper Mountain Uranium Project in Wyoming, USA. L'azienda emetterà 1.093.702 azioni ordinarie a Rush Rare Metals Corp., valutate 400.000 dollari. Questa accelerazione è possibile poiché le spese ammissibili di Myriad nel Copper Mountain hanno superato 1.500.000 dollari.

Le azioni saranno emesse a un prezzo ritenuto di circa 0,365 dollari per azione, soggetto a un periodo di blocco di quattro mesi. Il CEO di Myriad, Thomas Lamb, ha espresso fiducia nel potenziale scala e qualità del progetto. L'azienda si sta concentrando su ottenere il 75% di proprietà totale del progetto.

Inoltre, Myriad ha stipulato un contratto di consulenza con Arrow Park Capital Corp. per servizi di pubblicità e gestione dei social media dal 21 ottobre 2024 al 31 gennaio 2025, per un compenso di 32.500 dollari più tasse.

Myriad Uranium Corp. (CSE: M) (OTCQB: MYRUF) está acelerando su opción para adquirir una participación inicial del 50% en el Copper Mountain Uranium Project en Wyoming, EE. UU. La empresa emitirá 1.093.702 acciones ordinarias a Rush Rare Metals Corp., valoradas en 400.000 dólares. Esta aceleración es posible ya que los gastos elegibles de Myriad en Copper Mountain han superado los 1.500.000 dólares.

Las acciones se emitirán a un precio considerado de aproximadamente 0,365 dólares por acción, sujeto a un período de retención de cuatro meses. El CEO de Myriad, Thomas Lamb, expresó confianza en el potencial alcance y calidad del proyecto. La empresa está enfocada en asegurar una propiedad total del 75% del proyecto.

Además, Myriad ha firmado un acuerdo de servicios de consultoría con Arrow Park Capital Corp. para servicios de publicidad y gestión de redes sociales desde el 21 de octubre de 2024 hasta el 31 de enero de 2025, por una tarifa de 32.500 dólares más impuestos.

Myriad Uranium Corp. (CSE: M) (OTCQB: MYRUF)는 와이오밍의 Copper Mountain Uranium Project에서 초기 50% 지분을 인수하는 옵션을 가속화하고 있습니다. 이 회사는 Rush Rare Metals Corp.에 1,093,702주의 보통주를 발행할 예정이며, 그 가치는 400,000달러에 달합니다. Myriad의 Copper Mountain에서의 자격을 갖춘 지출이 1,500,000달러를 초과했기 때문에 이 가속화가 가능합니다.

주식은 약 주당 0.365달러로 책정된 가격으로 발행되며, 4개월의 보유 기간이 적용됩니다. Myriad의 CEO인 Thomas Lamb는 프로젝트의 잠재적인 규모와 품질에 대한 자신감을 보였습니다. 회사는 프로젝트의 75% 완전 소유권 확보에 집중하고 있습니다.

또한 Myriad는 Arrow Park Capital Corp.와 광고 및 소셜 미디어 관리 서비스에 대한 컨설팅 서비스 계약을 체결했습니다. 이 계약은 2024년 10월 21일부터 2025년 1월 31일까지 유효하며, 요금은 32,500달러에 세금이 추가됩니다.

Myriad Uranium Corp. (CSE: M) (OTCQB: MYRUF) est en train d'accélérer son option pour acquérir un intérêt initial de 50% dans le Copper Mountain Uranium Project dans le Wyoming, aux États-Unis. La société émettra 1.093.702 actions ordinaires à Rush Rare Metals Corp., évaluées à 400.000 dollars. Cette accélération est possible car les dépenses éligibles de Myriad au Copper Mountain ont dépassé 1.500.000 dollars.

Les actions seront émises à un prix réputé d'environ 0,365 dollars par action, sous réserve d'une période de blocage de quatre mois. Le PDG de Myriad, Thomas Lamb, a exprimé sa confiance dans l'échelle et la qualité potentielles du projet. L'entreprise se concentre sur la sécurisation d'une propriété totale de 75% du projet.

De plus, Myriad a conclu un accord de services de conseil avec Arrow Park Capital Corp. pour des services de publicité et de gestion des médias sociaux du 21 octobre 2024 au 31 janvier 2025, pour un montant de 32.500 dollars hors taxes.

Myriad Uranium Corp. (CSE: M) (OTCQB: MYRUF) beschleunigt die Option zur Übernahme eines anfänglichen Anteils von 50% am Copper Mountain Uranium Project in Wyoming, USA. Das Unternehmen wird 1.093.702 Stammaktien an Rush Rare Metals Corp. ausgeben, die mit 400.000 Dollar bewertet sind. Diese Beschleunigung ist möglich, da die förderfähigen Ausgaben von Myriad am Copper Mountain 1.500.000 Dollar überschritten haben.

Die Aktien werden zu einem angenommenen Preis von etwa 0,365 Dollar pro Aktie ausgegeben, wobei eine viermonatige Haltedauer gilt. Der CEO von Myriad, Thomas Lamb, äußerte großes Vertrauen in das Potenzial und die Qualität des Projekts. Das Unternehmen konzentriert sich darauf, eine vollständige Eigentumsanteil von 75% am Projekt zu sichern.

Darüber hinaus hat Myriad einen Beratungsvertrag mit Arrow Park Capital Corp. für Werbe- und Social-Media-Management-Dienste vom 21. Oktober 2024 bis 31. Januar 2025 abgeschlossen, für eine Gebühr von 32.500 Dollar zuzüglich Steuern.

Positive
  • Myriad Uranium Corp. is accelerating its option to acquire 50% interest in the Copper Mountain Uranium Project
  • Qualifying expenditures at Copper Mountain have exceeded $1,500,000
  • Maiden drill program at Copper Mountain is well underway
  • Company is focused on securing full 75% ownership of the project
Negative
  • Issuance of 1,093,702 common shares may lead to dilution for existing shareholders

Vancouver, British Columbia--(Newsfile Corp. - October 21, 2024) - Myriad Uranium Corp. (CSE: M) (OTCQB: MYRUF) (FSE: C3Q) ("Myriad" or the "Company"), which holds an earnable 75% interest in the Copper Mountain Uranium Project in Wyoming, USA, is pleased to announce that it is accelerating its option to acquire an initial 50% interest in Copper Mountain by issuing an aggregate of 1,093,702 Myriad common shares (each, a "Share") to Rush Rare Metals Corp. ("Rush") under the property option agreement dated October 18, 2023, as amended (see announcements here and here). Myriad is eligible to accelerate because its qualifying expenditures at Copper Mountain have now exceeded $1,500,000. Upon issuance of the Shares, Myriad will have met its obligations for 2024 and accelerated its 2025 payments, thereby securing 50% ownership. The maiden drill program at Copper Mountain is well underway and the Company is focused on meeting all its obligations under the option agreement expeditiously to cement full 75% ownership.

Thomas Lamb, Myriad's CEO, said, "Based on our historic data and the success of our field program thus far in validating that data, we are more and more convinced of the potential scale and quality of the Copper Mountain Uranium Project. We will continue to move forward aggressively with our work programs to unlock the potential of the Project and to earn our full 75% as quickly as practicable."

The 1,093,702 Shares have an aggregate value of $400,000, representing a deemed price per Share of approximately $0.365, calculated based on the 10 day value-weighted average price of the Company's common shares, as stipulated in the option agreement. Upon issuance, expected to be on October 25, 2024, the Shares will be subject to a hold period of four months and a day pursuant to applicable securities laws.

Peter Smith, Rush's CEO, said, "Myriad has done an outstanding job as our earn-in partner at Copper Mountain. Not only have they vastly expanded the project's overall potential by spearheading large-scale expansion of the claim area, which now includes several new highly prospective zones, all based on our cache of historical data and tens of millions in previous exploration spending by Union Pacific and others, but they have also started an extensive drill program which we hope will start to confirm and expand on some already highly significant historical resources. We are certainly lucky to have them as a partner, and we very much welcome their increased ownership interest in the project. Both Myriad and Rush stand to benefit from our expanding understanding of the massive potential of Copper Mountain in Wyoming, arguably the world's best uranium jurisdiction today."

Marketing Agreement

Myriad also announces that it has entered into a consulting services agreement dated as of October 21, 2024 with Arrow Park Capital Corp. ("Arrow"), pursuant to which Arrow will provide advertising services and social media management. The term of the agreement starts October 21, 2024 and runs to January 31, 2025. During the term, Myriad will pay Arrow $32,500, plus applicable taxes, for the services to be provided. Arrow is arm's length to Myriad, and neither Arrow nor any of its principals currently own or control any securities of Myriad. Arrow can be contacted at #122, 234-5149 Country Hills Blvd. NW, Calgary, AB T3A 5K8; Tel: (647) 567-9840; tastockscom@gmail.com.

About Myriad Uranium Corp.

Myriad Uranium Corp. is a uranium exploration company with an earnable 75% interest in the Copper Mountain Uranium Project in Wyoming, USA. Copper Mountain hosts several known uranium deposits and historic uranium mines, including the Arrowhead Mine which produced 500,000 lbs of eU3O8. Copper Mountain saw extensive drilling and development by Union Pacific during the late 1970s including the development of a mine plan to fuel a planned fleet of California Edison reactors. Operations ceased in 1980 before mining could commence due to falling uranium prices. Approximately 2,000 boreholes have been drilled at Copper Mountain and the project area has significant exploration upside. Union Pacific is estimated to have spent C$117 million (2024 dollars) exploring and developing Copper Mountain, generating significant historical resource estimates which are detailed here. A recent detailed update with Crux Investor can be viewed here. The Company's presentation can be viewed here . News releases regarding historical drilling can be viewed here and here.

Myriad also has a 50% interest in the Millen Mountain Property in Nova Scotia, Canada, with the other 50% held by Probe Gold Inc. For further information, please refer to Myriad's disclosure record on SEDAR+ (www.sedarplus.ca), contact Myriad by telephone at +1.604.418.2877, or refer to Myriad's website at www.myriaduranium.com.

Myriad Contacts:
Thomas Lamb
President and CEO
tlamb@myriaduranium.com

Forward-Looking Statements

This news release contains "forward-looking information" that is based on the Company's current expectations, estimates, forecasts and projections. This forward-looking information includes, among other things, the Company's business, plans, outlook and business strategy. The words "may", "would", "could", "should", "will", "likely", "expect," "anticipate," "intend", "estimate", "plan", "forecast", "project" and "believe" or other similar words and phrases are intended to identify forward-looking information. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect, including with respect to the Company's business plans respecting the exploration and development of the Company's mineral properties, the proposed work program on the Company's mineral properties and the potential and economic viability of the Company's mineral properties. Forward-Looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: changes in economic conditions or financial markets; increases in costs; litigation; legislative, environmental and other judicial, regulatory, political and competitive developments; and technological or operational difficulties. This list is not exhaustive of the factors that may affect our forward-looking information. These and other factors should be considered carefully, and readers should not place undue reliance on such forward-looking information. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by applicable law.

The CSE has not reviewed, approved or disapproved the contents of this news release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/227255

FAQ

What percentage of the Copper Mountain Uranium Project is Myriad Uranium Corp. (MYRUF) acquiring?

Myriad Uranium Corp. is accelerating its option to acquire an initial 50% interest in the Copper Mountain Uranium Project.

How many shares is Myriad Uranium Corp. (MYRUF) issuing to Rush Rare Metals Corp. on October 25, 2024?

Myriad Uranium Corp. is issuing 1,093,702 common shares to Rush Rare Metals Corp.

What is the value of the shares Myriad Uranium Corp. (MYRUF) is issuing for the Copper Mountain project option?

The 1,093,702 shares being issued have an aggregate value of $400,000, with a deemed price of approximately $0.365 per share.

What marketing agreement has Myriad Uranium Corp. (MYRUF) entered into on October 21, 2024?

Myriad has entered into a consulting services agreement with Arrow Park Capital Corp. for advertising and social media management services from October 21, 2024, to January 31, 2025.

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