Myriad Uranium Advances Wyoming Flagship with Technical Report and Scaled Drilling Plan

• Myriad voluntarily filed an NI 43-101 Technical Report for the Copper Mountain Uranium Project, effective March 31, 2026, now available on SEDAR+ and the company's website.
• Phase II drilling is initially planned at 4,500 metres, with contingent expansion to between 7,000 and 10,000 metres or more, subject to results and funding conditions.
• A three-stage exploration strategy targets data verification, mineralisation expansion, and progress toward a maiden NI 43-101 mineral resource estimate.
• An indicative work programme budget of approximately US$5.95 million, inclusive of contingency, is recommended over a 12-month period.
• The company has granted 1,475,000 stock options at C$0.50 per share and 1,095,000 restricted share units (RSUs) to directors, officers, and consultants.

Myriad Uranium Corp. (CSE: M | OTCQB: MYRUF | FSE: C3Q) is a Canadian-based mineral exploration company focused on uranium assets in the United States. Its principal asset is the Copper Mountain Uranium Project in Fremont County, Wyoming, where the company holds a 75% interest with an agreement in place to acquire the remaining 25% from Rush Rare Metals Corp. Copper Mountain is a historically active uranium district with multiple past-producing mines, including the Arrowhead Mine, which produced an estimated 500,000 pounds of uranium oxide (U3O8). Union Pacific previously invested an estimated C$117 million (in 2024 dollars) exploring and developing the property before a uranium market downturn in 1980. Myriad also holds the Red Basin Uranium Project in New Mexico, which it has agreed to divest to Subatomic, a new venture backed by leading US technologists, while retaining a 10% free carried interest and entering a strategic alliance with the buyer.

NI 43-101 Technical Report Filing for Copper Mountain Uranium Project

National Instrument 43-101 (NI 43-101) is a Canadian securities regulation that establishes mandatory standards for how companies disclose technical information about their mineral projects to investors. It requires that a qualified, independent expert review and approve the disclosed technical data. Myriad voluntarily filed its NI 43-101 Technical Report for Copper Mountain on April 15, 2026, with an effective date of March 31, 2026. The report was authored by George van der Walt, MSc., Pr.Sci.Nat., FGSSA, the company's consulting geologist, acting as the designated Qualified Person under the standard.

The report brings together technical work accumulated over the past 15 months and earlier decades. It incorporates data from Myriad's maiden drill programme completed in November 2024, follow-up chemical assay results reported through 2025, a comprehensive review of Bendix Engineering's 1982 uranium endowment assessment commissioned by the US Department of Energy, and high-resolution airborne geophysical surveys completed in December 2025. A notable finding from the 2025 assay programme was the confirmation of extensive positive disequilibrium across the project. In uranium exploration, positive disequilibrium means the actual uranium content measured by chemical analysis is higher than what initial radiometric (radiation-detecting) probe readings suggest, indicating relatively intact, younger mineralisation.

As of the report date, no NI 43-101 compliant mineral resources or mineral reserves have been defined at Copper Mountain. Historical estimates referenced in the report were produced under older standards and cannot be treated as current resources under today's regulatory requirements. The voluntary filing provides a transparent, independently reviewed technical foundation to guide Phase II exploration and support future resource estimation and regulatory permitting work.

Phase II Drill Programme Planning and Exploration Strategy

Building on the results of its maiden drill campaign, Myriad has designed a three-stage Phase II exploration programme to test and expand the known mineralisation at Copper Mountain. Stage 1 focuses on data verification and mineralisation confirmation at a selection of known historical targets, including Lucky Cliff, Arrowhead, Mint, Hesitation, and Gem, applying modern QAQC (quality assurance and quality control) protocols to validate historical grades and geological interpretations. Stage 2 covers mineralisation expansion and the testing of new targets, with step-out drilling extending the boundaries of known historical areas and first-pass drilling at high-priority prospects identified through the Bendix studies and corroborated by the recent geophysical surveys.

Stage 3, contingent on positive outcomes from the earlier stages, covers resource delineation and preliminary technical studies, including infill drilling to support a maiden NI 43-101 mineral resource estimate and early-stage metallurgical and geotechnical screening. 

CEO Thomas Lamb commented: 

"We are entering Phase II with a high level of conviction. Our maiden drill program surpassed expectations by a significant margin, confirming extensive positive disequilibrium and validating Copper Mountain as a genuinely world-class exploration address. The extraordinary Bendix assessment suggests Copper Mountain may host one of America's largest undeveloped uranium endowments. The results of our recent high-resolution airborne geophysics have opened vast new target areas we are only beginning to understand. The picture that emerges is one of remarkable district-scale potential. The Phase II program we announce today, initially 4,500 metres and structured to scale to 10,000 metres and well beyond, is designed to systematically convert that potential into demonstrable value. With Mother Nature's cooperation, we have an excellent chance at results that fundamentally re-rate Myriad in the eyes of the market."

The programme's initial target of 4,500 metres is designed to scale contingently to 7,000, 10,000 metres or beyond, based on results and available funding. This structure allows the company to address each geological stage before committing to subsequent phases of capital deployment. The exploration targets are conceptual in nature, based on geological interpretation, structural favourability, and historical drilling density, and there is no certainty that further work will result in the delineation of mineral resources.

Indicative Work Programme Budget and Corporate Governance

The Technical Report recommends an indicative budget of approximately US$5.95 million, inclusive of contingency, to carry out the initial stages of the Phase II work programme over 12 months. The budget is designed to cover drilling, sampling, QAQC protocols, preliminary metallurgical and geotechnical studies, and responsible environmental management, all of which are required to advance the project toward a maiden mineral resource estimate and meet future permitting requirements. 

Chairman Simon Clarke stated: 

"The next phase of drilling has been planned following extensive and methodical work to fully interpret drill results while overlaying extensive historic data and information and further refining targets utilizing the strong geophysical signatures generated through the recent magnetic and radiometric surveys. The Company is well positioned with a strong balance sheet and the working capital required to fully support and implement the recommended work program set out in our updated Technical Report. We are very excited to commence the next phase of drilling at Copper Mountain with the goal of showcasing the greater potential of the Copper Mountain Project beyond the core historic deposits."

Alongside the programme update, Myriad announced new equity-based incentives for its directors, officers, and consultants. The company granted 1,475,000 stock options, each exercisable at C$0.50 per share for a five-year period, and 1,095,000 RSUs that vest in equal thirds on the first, second, and third anniversaries of the grant date. Accelerated vesting applies in the event of a change of control, the sale of a material company asset, or the closing price of the company's shares reaching C$1.00 or above on the Canadian Securities Exchange (CSE). The RSUs expire on 31 December 2029.

These grants are classified as related party transactions under Multilateral Instrument 61-101 but qualify for exemptions from formal valuation and minority shareholder approval requirements, as the aggregate fair market value falls below 25% of the company's market capitalisation. The company's board unanimously approved the transactions with no materially contrary views or abstentions beyond those required by corporate law.

Outlook

With its NI 43-101 Technical Report now on the public record and a Phase II drill programme in place, Myriad's stated near-term milestones include commencing the initial 4,500-metre drilling campaign, advancing through data verification and mineralisation expansion at priority historical and new targets, and generating the technical data required to support a maiden NI 43-101 mineral resource estimate. Subsequent activities beyond the initial 12-month programme remain contingent on technical success.

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