Myriad Uranium Exercises Initial 50% Option On Rush's Copper Mountain Project
Myriad Uranium has exercised its option to acquire an initial 50% interest in Rush Rare Metals' Copper Mountain uranium property in Wyoming. As part of the agreement, Myriad has issued 1,093,702 common shares to Rush, valued at $400,000 (approximately $0.365 per share). The shares are subject to a four-month hold period ending February 26, 2025. The Copper Mountain project has been expanded to include multiple uranium occurrences, identified through significant historical exploration investment. New drilling operations are underway to confirm historical data, with results expected soon.
Myriad Uranium ha esercitato la sua opzione per acquisire un iniziale 50% di interesse nella proprietà uranium di Copper Mountain della Rush Rare Metals in Wyoming. Come parte dell'accordo, Myriad ha emesso 1.093.702 azioni ordinarie a Rush, valutate 400.000 dollari (circa 0,365 dollari per azione). Le azioni sono soggette a un periodo di blocco di quattro mesi, che terminerà il 26 febbraio 2025. Il progetto Copper Mountain è stato ampliato per includere molteplici occurrence di uranio, identificate grazie a significativi investimenti storici in esplorazione. Nuove operazioni di perforazione sono in corso per confermare i dati storici, con risultati attesi a breve.
Myriad Uranium ha ejercido su opción para adquirir un 50% de interés en la propiedad de uranio Copper Mountain de Rush Rare Metals en Wyoming. Como parte del acuerdo, Myriad ha emitido 1.093.702 acciones comunes a Rush, valoradas en 400.000 dólares (aproximadamente 0,365 dólares por acción). Las acciones están sujetas a un período de bloqueo de cuatro meses que finaliza el 26 de febrero de 2025. El proyecto Copper Mountain se ha ampliado para incluir múltiples ocurrencias de uranio, identificadas a través de una significativa inversión histórica en exploración. Se están llevando a cabo nuevas operaciones de perforación para confirmar los datos históricos, con resultados esperados pronto.
Myriad Uranium는 와이오밍에 있는 Rush Rare Metals의 Copper Mountain 우라늄 자산에 대한 초기 50% 지분 인수를 선택했습니다. 계약의 일환으로, Myriad는 Rush에게 400,000달러 (주당 약 0.365달러)로 평가된 1,093,702주를 발행했습니다. 이 주식은 2025년 2월 26일에 종료되는 4개월의 홀딩 기간의 적용을 받습니다. Copper Mountain 프로젝트는 상당한 역사적 탐사 투자를 통해 확인된 여러 우라늄 발생지를 포함하도록 확대되었습니다. 역사적 데이터를 확인하기 위한 새로운 시추 작업이 진행 중이며, 조만간 결과가 예상됩니다.
Myriad Uranium a exercé son option pour acquérir un 50% d'intérêt initial dans la propriété uranifère Copper Mountain de Rush Rare Metals au Wyoming. Dans le cadre de l'accord, Myriad a émis 1.093.702 actions ordinaires à Rush, d'une valeur de 400.000 dollars (environ 0,365 dollars par action). Les actions sont soumises à une période de blocage de quatre mois se terminant le 26 février 2025. Le projet Copper Mountain a été élargi pour inclure plusieurs occurrences d'uranium, identifiées grâce à un investissement historique significatif dans l'exploration. De nouvelles opérations de forage sont en cours pour confirmer les données historiques, avec des résultats attendus prochainement.
Myriad Uranium hat seine Option ausgeübt, um einen initialen 50%-Anteil an der Uran-Immobilie Copper Mountain der Rush Rare Metals in Wyoming zu erwerben. Im Rahmen der Vereinbarung hat Myriad 1.093.702 Stammaktien an Rush ausgegeben, die mit 400.000 USD (ungefähr 0,365 USD pro Aktie) bewertet sind. Die Aktien unterliegen einer viermonatigen Haltedauer, die am 26. Februar 2025 endet. Das Copper Mountain-Projekt wurde erweitert, um mehrere Uranvorkommen zu beinhalten, die durch bedeutende historische Erkundungsinvestitionen identifiziert wurden. Neue Bohrarbeiten werden durchgeführt, um historische Daten zu bestätigen, wobei bald mit Ergebnissen gerechnet wird.
- Acquisition of 50% interest in Copper Mountain uranium property
- Payment of $400,000 in shares to Rush Rare Metals
- Project expansion covering multiple uranium occurrences
- Active drilling program in progress
- Share issuance may result in dilution for existing shareholders
- Four-month share lock-up period restricts immediate liquidity
VANCOUVER, BC / ACCESSWIRE / October 28, 2024 / Rush Rare Metals Corp. (CSE:RSH) ("Rush" or the "Company) is pleased to advise that Rush's earn-in partner on the Copper Mountain uranium property in Wyoming, Myriad Uranium Corp. (CSE:M)(OTCQB:MYRUF)(FRA:C3Q) ("Myriad"), has exercised its option to acquire an initial
In conjunction with Myriad's exercise of the option, Myriad has issued to Rush an aggregate of 1,093,702 Myriad common shares (each, a "Share") having an aggregate value of
Peter Smith, Rush's CEO, commented "We are very excited to be joined with Myriad in developing this extraordinary project at Copper Mountain. The project area has been continuously and systematically expanded to now cover a multitude of highly prospective uranium occurrences, all originally identified through tens of millions in exploration spending, and we have now also started the process of confirming all this historical data with new drilling. With uranium demand and the need for North American supply increasing, and with Wyoming quickly being recognized as the world's premier uranium exploration jurisdiction, everything appears to be lining up very well for Copper Mountain - we very much look forward to releasing more drilling results very soon."
About Rush Rare Metals Corp.
Rush Rare Metals Corp. is a mineral exploration company focused on its Boxi Property located in the Province of Québec, Canada. Rush also owns the Copper Mountain Project located in Wyoming, USA, which it has optioned to Myriad Uranium Corp. Rush currently has a
Rush Contacts:
Peter Smith
Chief Executive Officer
psmith@rushraremetals.com
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SOURCE: Rush Rare Metals Corp.
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FAQ
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