Myriad Uranium Agrees to Acquire 55,000-Hectare Los Altares Uranium Project in Argentina’s Chubut Province

• Acquisition Terms: Myriad Uranium will acquire 100% of Los Altares for $300,000 in cash and 1,571,268 common shares at a deemed price of $0.4455 per share.
• Project Scale: The project covers 55,013 hectares across 23 properties in the Cerro Solo uranium district of central Chubut Province.
• Permitting Status: Four East District properties are fully granted mining concessions with approved Environmental Impact Assessments (EIAs), and seven more hold approved EIAs while title registration advances.
• Historical Drilling: Approximately 12,500 metres of historical drilling is understood to have been completed on the project, subject to verification by a Qualified Person.
• Mining Framework: Chubut’s current mining framework restricts open-pit mining but supports in-situ recovery (ISR).

Myriad Uranium Corp. (CSE: M) (OTCQB: MYRUF) is a Canada-based uranium exploration company with projects in the United States and a pending acquisition in Argentina. It holds 100% of the Copper Mountain Uranium Project in Wyoming, which contains several historic deposits and past-producing mines, including the Arrowhead Mine, where approximately 500,000 pounds of uranium oxide was produced. Union Pacific explored the district extensively in the late 1970s, completing around 2,000 boreholes before the 1980 market downturn. Myriad Uranium also holds a 10% free carried interest, meaning a share of the project without funding obligations, in the Red Basin Uranium Project, recently sold to Subatomic Industries, and owns the Breccia Pipe Project in Arizona, which includes at least 23 breccia pipes (vertical columns of broken rock) prospective for uranium and rare earth elements.

Acquisition of 55,000-Hectare Los Altares Uranium Project in Argentina’s Cerro Solo District

Los Altares lies within the San Jorge Basin and flanks the Cerro Solo deposit, held by Argentina’s National Atomic Energy Commission (CNEA), to the east and west. The project is divided into two parts: the East District, which includes the Arroyo Perdido and Perdido claim blocks, and the West District, which includes the Condor 1 and Pichiñán claims. The 23 properties consist of three exploration permits, one granted and two in process, and twenty exploitation permits, four granted and sixteen in process.

The acquisition is structured as a share purchase agreement dated October 9, 2026, with Green Shift Commodities Ltd. (TSXV: GCOM). Myriad Uranium will acquire all shares of Buenavida Metales S.A., the Argentine company holding the project’s mineral claims and other assets. Green Shift will retain a 2% net smelter return royalty, a payment of 2% of net revenue from any future production, and Myriad Uranium may repurchase half of this royalty for $1 million.

The deemed share price of $0.4455 is the volume-weighted average trading price of Myriad Uranium’s shares on the CSE over the 10 trading days before the agreement took effect, and the shares will carry a four-month hold period. 

President and CEO Thomas Lamb said:

“The acquisition of a 100% interest in Los Altares continues Myriad’s strategy of acquiring projects with low up-front and ongoing costs and strong leverage to the uranium price.”

District-Scale Position On Strike With Cerro Solo and Near Historical Los Adobes Mine

Los Altares lies on strike with Cerro Solo, meaning along the same geological trend. Cerro Solo is reported to contain 4,420 tonnes of uranium, approximately 9.7 million pounds of uranium oxide, under the International Atomic Energy Agency classification system, which differs from the Canadian NI 43-101 reporting standard. UrAmerica’s nearby Meseta Central deposit has a reported Inferred Mineral Resource of 19.1 million pounds. Mineralisation on these neighbouring properties is not necessarily indicative of mineralisation at Los Altares.

CNEA mined the Los Adobes and Cerro Cóndor deposits by open pit between 1977 and 1979 and processed the ore at the nearby Pichiñán plant, the only uranium production in the district to date. On Los Altares, Maple Minerals Exploration and Development Inc. reportedly drilled 37 reverse-circulation holes on the Arroyo Perdido claim block before Mega Uranium acquired the interests in 2006. The East District also surrounds CNEA’s Arroyo Perdido prospect.

The four granted mining concessions with approved EIAs are Arroyo Perdido Norte 1, 2 and 3, and Arroyo Perdido Sur 1, all in the East District. An EIA is an environmental review that must be approved before mining-related activity can proceed. Previous interpretations place the host sandstone layer approximately 150 to 200 metres below parts of the East District.

Strategic Argentine Jurisdiction Advancing Uranium Self-Sufficiency Amid Deepening US-Argentina Critical Minerals Cooperation

Argentina is pursuing uranium self-sufficiency for its nuclear reactor fleet, while cooperation between the United States and Argentina on critical minerals continues to deepen. At the provincial level, a resolution issued by Chubut’s Ministry of Hydrocarbons on April 11, 2025, restricts open-pit methods but supports the development of ISR. ISR recovers uranium by circulating a solution through underground rock and pumping it back to surface through wells, without open-pit excavation. Additional technical work would be required to determine whether any mineralisation discovered at Los Altares is suitable for this method.

The project is accessed via Highway 25 from Trelew, about 300 kilometres to the east, to Paso de Indios, a serviced town with grid power. From there, gravel roads and farm tracks reach the claims across flat to gently rolling terrain.

The transaction will add Green Shift, whose largest shareholder is Mega Uranium (TSX: MGA), to Myriad Uranium’s shareholder register. 

President and CEO Thomas Lamb said:

“We’re very pleased to deepen these strategic relationships, which we believe could assist us in unlocking value across our portfolio.”

Milestones and Next Steps

Closing is expected on or before November 13, 2026, subject to approval from the TSX Venture Exchange and the CSE, if required, and customary closing conditions. After closing, Myriad Uranium plans to obtain, compile and evaluate the project’s historical drilling records and develop an exploration plan, with material historical information to be reported only after review by a Qualified Person. Los Altares will join Copper Mountain and the Breccia Pipe Project in Myriad Uranium’s portfolio.

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