Myriad Uranium Strengthens Capital Base Through Over-Subscribed Private Placement

• Successfully closed over-subscribed private placement raising gross proceeds of $1,893,250
• Strategic investors join the company's shareholder base, strengthening market confidence
• Working capital position improved to roughly $3.2 million
• Chemical assays reveal significant previously undetected uranium mineralization at Copper Mountain
• Plan to expand permitted drilling operations from 50 to 70 boreholes advancing through regulatory approval

Myriad Uranium Corp. is a uranium exploration company with an earnable 75% interest in the Copper Mountain Uranium Project in Wyoming, USA. The company has built its portfolio around historically significant uranium assets, including the Copper Mountain project which hosts several known uranium deposits and historic uranium mines. The flagship Arrowhead Mine previously produced 500,000 pounds of uranium oxide, demonstrating the area's proven production potential.

Under CEO Thomas Lamb's leadership, Myriad has positioned itself to capitalize on the uranium sector's current momentum. The company recently expanded its asset base by acquiring the Red Basin Uranium Project in New Mexico, which contains near-surface historical resources.

Strategic Capital Raise Strengthens Financial Position

The completion of Myriad's non-brokered private placement represents more than just a successful fundraising effort. The over-subscribed nature of the financing suggests strong investor appetite for uranium exposure, particularly as the sector appears to be reaching what management describes as a key inflection point. The addition of strategic investors to the company's shareholder base could provide valuable industry connections and expertise beyond the immediate capital injection.

The timing of this capital raise appears deliberate, coinciding with significant developments at the company's primary asset. The strengthened balance sheet provides Myriad with the financial flexibility to pursue its exploration objectives without immediate pressure for additional financing. Working capital of roughly $3.2 million provides a solid foundation to execute near-term exploration plans.

The participation of directors and officers in the financing demonstrates management's confidence in the company's direction. The terms of the financing include warrants exercisable until July 2027, providing additional upside potential for investors while giving the company potential future capital access.

New Uranium Discovery Expands Project Potential

Recent chemical assay results from Copper Mountain have uncovered what CEO Thomas Lamb describes as significant "new" uranium mineralization that remained largely invisible to traditional gamma probe detection methods. 

"Chemical assays have revealed significant 'new' uranium at Copper Mountain that is mostly invisible to gamma probes," Mr. Lamb noted. 

This discovery builds upon historical work from the 1970s when fluorometric methods suggested additional mineralization that was subsequently overlooked in resource estimation processes. The company plans to send nearly 1,500 additional samples from 2024 drilling for chemical assay to systematically quantify this previously unrecognized mineralization.

Historical exploration at Copper Mountain involved extensive work by Union Pacific during the late 1970s, with substantial exploration and development investment. The discovery of additional uranium content could significantly expand the project's resource potential and economic viability.

Investment Outlook and Next Steps

The successful completion of Myriad's over-subscribed private placement strengthens the company's financial position while adding strategic investors to its shareholder base. The discovery of previously undetected uranium mineralization at Copper Mountain could significantly expand the project's resource potential.

Key takeaways for investors include the improved working capital position of roughly $3.2 million, the addition of strategic investors suggesting institutional confidence, and the potential for substantial resource expansion at Copper Mountain. The next major milestone will be the results from the extensive chemical assay program, which could provide clarity on the extent of additional uranium mineralization. These developments position Myriad to capitalize on improving conditions in the uranium sector.

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