Myriad Uranium Chemical Assays Uncover Additional Uranium Zones at Canning Deposit

• Chemical assays from 706 additional samples identified 70 new mineralised intervals and extended 12 previously known intervals across multiple cut-off grades at the Canning deposit.
• Chemical assays averaged 20% higher than gamma probe readings, with grades above 500 ppm showing 50% higher values and grades exceeding 1,000 ppm averaging 60% higher uranium content.
• Five new intervals discovered at 500 ppm cut-off, including 841 ppm over 2.95 feet in borehole CAN0031 and 804 ppm over 2.95 feet in CAN0023.
• Plan of operations approved for 222 boreholes across the Copper Mountain project area, enabling expanded drilling beyond the Canning deposit.
• A 1982 Bendix study estimated a mineral endowment of 245 million pounds uranium in the central area (Myriad and partner control 70%) and 655 million pounds across the broader district (Myriad controls nearly one-third).

Myriad Uranium Corp. (CSE: M) (OTCQB: MYRUF) (FSE: C3Q) is a uranium exploration company holding an earnable 75% interest in the Copper Mountain Uranium Project in Wyoming. The project contains several known uranium deposits and historic mines, including the Arrowhead Mine, which produced 500,000 pounds of uranium oxide. Union Pacific conducted extensive exploration work at Copper Mountain in the late 1970s, drilling approximately 2,000 boreholes. The company also holds, subject to completing a geophysical survey, a 100% interest in the Red Basin Uranium Project in New Mexico.

Additional Chemical Assay Results and Grade Comparisons

The company collected 706 additional samples for chemical analysis after initial results indicated differences between gamma probe measurements and laboratory assays. The initial sample selection used a strict 100 ppm equivalent uranium cut-off based on gamma probe readings. Chemical assays from those samples returned higher grades, indicating radiometric disequilibrium in the system.

The pattern showed grade enhancement across different concentration ranges. Grades of 1,000 ppm or more measured by gamma probe averaged 60% higher in chemical assays. Grades above 500 ppm averaged 50% higher. Across all samples submitted, grades increased an average of 20%. The company collected 706 additional samples to close sampling gaps and extend intervals where uranium may not have been accounted for.

CEO Thomas Lamb commented:

"These new chemical assays, which extend 12 already-known intervals and reveal 70 new intervals across just 34 boreholes, build on the strong foundation established by the Bendix study. Combined with these new assay results, the Bendix data gives us a high level of confidence in Copper Mountain's uranium potential and provides a strong technical foundation for our next stage of exploration."

New and Extended Mineralised Intervals at Multiple Cut-Off Grades

The additional sampling identified new intervals across three cut-off grades. At 500 ppm cut-off, five entirely new intervals were reported. Notable intersections include 533 ppm over 4.92 feet from 220.74 feet to 225.66 feet in borehole CAN0019, 841 ppm over 2.95 feet from 201.39 feet to 204.34 feet in CAN0031, and 804 ppm over 2.95 feet from 547.43 feet to 550.38 feet in CAN0023.

At 200 ppm cut-off, 20 entirely new intervals were reported and 12 intervals were extended in length. At 100 ppm cut-off, 31 entirely new intervals were identified and 45 intervals were extended. The drilling was conducted using both diamond core and reverse circulation methods at the Canning deposit.

The 34 boreholes represent verification drilling of mineralisation identified in Union Pacific's late 1970s drilling programme. The boreholes tested a grade shell model above 0.05% equivalent uranium created from cross-sections. Revised grade interval tables showing the complete results are provided in the news release appendices.

Radiometric Disequilibrium and Sampling Programme Plans

Radiometric disequilibrium refers to the loss or gain of uranium and its daughter products during geological processes, which disrupts the equilibrium between parent isotopes and daughter products. The company's analysis showed disequilibrium has occurred within the Canning deposit, with individual grades often differing from spectral gamma probe measurements. The average ratio of chemical assay intervals to spectral gamma probe assay intervals is approximately 1.2.

The company notes that some historic reports stated closed can assays from Copper Mountain indicated little disequilibrium, though differences between gamma probe data and chemical assays were still observed. The cause of the observed disequilibrium remains unclear and could result from radon interference or leaching and remobilisation of uranium, radium or other daughter products.

The company plans to expand physical sampling to submit more samples for laboratory analysis in zones where higher uranium levels might exist compared to spectral gamma measurements. Additional high-resolution spectral analyses of samples will be conducted to determine the specific cause of disequilibrium.

CEO Thomas Lamb stated:

"These results bring significant additional uranium into the picture at Canning, and hopefully foretell what we will see across the project as we engage in extensive drilling under our recently-approved plan of operations which provides clearance for 222 boreholes across the Copper Mountain Project area."

Next Steps

The company has received approval for a plan of operations covering 222 boreholes across the Copper Mountain Project area. The drilling programme will extend beyond the Canning deposit to test other areas within the broader project. The company will endeavour to verify and go beyond historic resources estimated by Fluor and Union Pacific, including those totalling 16.55 million pounds. The Bendix study estimated that the central area at Copper Mountain could contain a mineral endowment of 245 million pounds uranium to a depth of 600 feet, with the broader district potentially hosting 655 million pounds. These estimates are historical and do not represent current mineral resources or reserves under NI 43-101 standards.

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