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About Myriad Uranium Corp
Myriad Uranium Corp (OTCQB: MYRUF) is a uranium exploration company headquartered in Vancouver, Canada, focused on acquiring, developing, and advancing high-potential uranium projects in North America. With an earnable 75% interest in the Copper Mountain Uranium Project in Wyoming, USA, and a 100% interest in the recently acquired Red Basin Uranium Project in New Mexico, USA, Myriad is strategically positioned to capitalize on the increasing global demand for uranium as a critical energy resource.
Core Business and Exploration Projects
Myriad’s flagship Copper Mountain Uranium Project spans approximately 9,320 acres in Wyoming, a region historically recognized as one of the world’s premier uranium jurisdictions. The project includes several known uranium deposits and former uranium mines, such as the Arrowhead Mine, which produced 500,000 lbs of U3O8. Extensive historical exploration, including over 2,000 boreholes drilled by Union Pacific during the 1970s, revealed significant uranium mineralization across multiple zones. Myriad’s 2024 maiden drill program validated historical data, uncovered deeper mineralization, and demonstrated the project’s potential for both high-grade and large-scale uranium resources.
The Red Basin Uranium Project, located in the Datil Mountains-Pietown Uranium District of New Mexico, encompasses 1,776 acres and hosts historical estimates of 1.5 to 6.5 million lbs of U3O8 (inferred). Historical drilling by Gulf Oil Corporation identified near-surface roll-front uranium deposits, with grades averaging 0.31% U3O8. This project complements Myriad’s portfolio by offering high-grade, near-surface exploration potential with significant expansion opportunities.
Industry Context and Strategic Positioning
Myriad operates within the uranium exploration industry, a sector experiencing renewed interest due to the global transition toward clean energy and the increasing adoption of nuclear power. Uranium is a critical mineral for nuclear energy production, and the need for secure, domestic supply chains in North America further elevates its strategic importance. Myriad differentiates itself by focusing on historically underexplored but resource-rich areas, leveraging extensive historical data to reduce exploration risk and costs.
Key competitive advantages include its access to historical exploration data, partnerships with experienced technical advisors, and a focus on jurisdictions with favorable regulatory environments for uranium mining. The company’s projects are strategically located near existing infrastructure, enhancing their economic viability.
Exploration and Development Approach
Myriad employs a systematic exploration approach, combining modern geophysical techniques with historical drilling data to identify and delineate uranium resources. At Copper Mountain, the company’s maiden drill program exceeded expectations by confirming high-grade uranium mineralization across a strike length of 2,500 feet and identifying new mineralization at depths below historical drilling limits. At Red Basin, Myriad plans to conduct geophysical surveys and targeted drilling to validate historical resource estimates and explore untapped potential.
Significance in the Uranium Market
Myriad Uranium Corp’s projects align with the growing demand for uranium driven by the expansion of nuclear energy as a clean and reliable power source. The company’s focus on North American projects positions it to contribute to the region’s energy security while capitalizing on favorable market dynamics. By unlocking the potential of historically significant uranium deposits, Myriad aims to establish itself as a key player in the uranium exploration sector.
Myriad Uranium Corp. (CSE: M, OTCQB: MYRUF, FSE: C3Q) announced a non-brokered private placement of 20 million units at $0.25 per unit, raising $5 million. Each unit includes one common share and a half-share purchase warrant, with each full warrant allowing the purchase of one share at $0.30 within 24 months. Issued securities will be subject to a four-month hold period. The proceeds will fund exploration of the company's mineral properties and general working capital. Finder's fees may be paid in connection with the financing. The securities are not registered for sale in the U.S.
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