Myriad Uranium Grants Stock Options and RSUs

Rhea-AI Summary

Myriad Uranium Corp. (CSE: M) (OTCQB: MYRUF) has announced the granting of 225,000 incentive stock options to consultants and 1,095,000 restricted share units (RSUs) to directors, officers, and consultants. The options vest immediately and can be exercised at $0.40 per share within five years. The RSUs will vest in three equal portions over three years, with potential accelerated vesting triggered by: a change in company control, sale of material assets, or if the stock price reaches $1.00 or higher on the Canadian Securities Exchange.

Positive

• None.

Negative

• Share dilution through issuance of 1,320,000 new equity instruments (225,000 options and 1,095,000 RSUs)

Vancouver, British Columbia--(Newsfile Corp. - January 29, 2025) - Myriad Uranium Corp. (CSE: M) (OTCQB: MYRUF) (FSE: C3Q) ("Myriad" or the "Company") announces that it has granted an aggregate of 225,000 incentive stock options (the "Options") to certain of its consultants and an aggregate of 1,095,000 restricted share units ("RSUs") to certain of its directors, officers and consultants.. Each Option vests immediately and is exercisable to acquire one common share of the Company at $0.40 for a period of five years from the date of grant. One-third of the RSUs vest on the first, second and third anniversaries of the date of grant, subject to accelerated vesting in the event of: a change of control of the Company; the sale by the Company of a material asset of the Company (as determined by the Company's board of directors); or the closing price of the common shares of the Company on the Canadian Securities Exchange is $1.00 or greater at any time.

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. To date, Myriad has earned a 50% interest in the Project. Copper Mountain hosts several known uranium deposits and historical 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. Myriad recently concluded a 34-hole maiden drill program in November 2024 which encountered significant high grade uranium mineralisation that exceeded expectations, provided verification of historical exploration work, and encountered mineralisation in deeper zones, which opens exciting new potential for the Copper Mountain Uranium Project. A comprehensive news release regarding the drilling can be viewed 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.

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; access to minerals where the surface rights above them have not been settled; 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/238802

FAQ

What is the exercise price of Myriad Uranium's (MYRUF) newly granted stock options?

The stock options granted by Myriad Uranium (MYRUF) have an exercise price of $0.40 per share.

How many RSUs did Myriad Uranium (MYRUF) grant in January 2024?

Myriad Uranium (MYRUF) granted 1,095,000 restricted share units (RSUs) to directors, officers, and consultants.

What is the vesting schedule for Myriad Uranium's (MYRUF) newly issued RSUs?

The RSUs vest in three equal portions over three years, with one-third vesting on each anniversary of the grant date.

What conditions trigger accelerated vesting of Myriad Uranium's (MYRUF) RSUs?

Accelerated vesting occurs upon a change of control, sale of material assets, or if the stock price reaches $1.00 or higher on the Canadian Securities Exchange.