Myriad Uranium to Receive US$2.5 Million from Red Basin Sale While Retaining Interest and Pursuing New U.S. Uranium Projects with Subatomic

• Myriad agreed to sell the Red Basin Uranium Project in New Mexico to Subatomic Red Basin, LLC for US$2,500,000 in cash, payable in full at closing.
• The transaction represents an over 6x return on Myriad's original C$525,000 acquisition cost from approximately one year ago, excluding the retained interest.
• Myriad will keep a 10% free carried interest in Red Basin, meaning it retains a share of any future production revenues without contributing to ongoing project costs.
• Myriad and Subatomic will form a strategic alliance to jointly pursue uranium opportunities across the United States beyond Red Basin.
• Closing is expected on or before 17 April 2026, subject to due diligence and the execution of the carry and alliance agreements.

Myriad Uranium Corp. (CSE: M / OTCQB: MYRUF / FSE: C3Q) is a Canadian-based uranium exploration company focused on domestic U.S. uranium assets. Its primary project is the Copper Mountain Uranium Project in Wyoming, where it holds a 75% interest and has a binding agreement to acquire the remaining 25% from Rush Rare Metals Corp. Copper Mountain is home to several historic uranium deposits and past-producing mines, including the Arrowhead Mine, which produced approximately 500,000 pounds of uranium oxide (U3O8). Union Pacific conducted extensive exploration in the district during the late 1970s, including roughly 2,000 drill holes and advanced mine planning, before withdrawing following a downturn in uranium markets in 1980. That body of work is estimated to have cost the equivalent of approximately C$117 million in today's dollars, generating significant historical resource estimates. Prior to this transaction, Myriad also held a 100% interest in the Red Basin Uranium Project in New Mexico.

Red Basin Sale Delivers Over 6x Return on Capital for Myriad Shareholders

Myriad acquired the Red Basin Uranium Project in New Mexico for approximately C$525,000 roughly one year ago. The agreement to sell it to Subatomic Red Basin, LLC for US$2,500,000 in cash represents an over 6x return on that original investment. That return figure excludes the 10% carried interest Myriad is retaining in the project.

The sale proceeds are payable in full at closing, meaning Myriad receives the entire US$2.5 million as a single cash payment. The Company has indicated it intends to direct capital toward its flagship Copper Mountain project in Wyoming. The transaction converts the New Mexico land holding into a cash position while retaining Myriad's exposure to Red Basin through the carried interest.

CEO Thomas Lamb commented:

"Myriad is thrilled to partner with Subatomic in our Red Basin project, producing a wonderful return on capital that is highly accretive for our shareholders, but more importantly, forming a strategic alliance with a new uranium partner, who will advance the project while we maintain exposure to it through our retained interest."

Myriad Retains 10% Free Carried Interest While Refocusing on Copper Mountain

A free carried interest means that Myriad retains a percentage ownership stake in Red Basin without being required to fund ongoing exploration or development costs. Subatomic assumes those financial responsibilities going forward, and Myriad receives its 10% share of any future production or project proceeds without additional capital outlay.

With the sale agreed, Myriad's focus shifts to Copper Mountain. The Wyoming project has a documented exploration history, with Union Pacific having conducted approximately 2,000 drill holes and advanced mine planning in the late 1970s before uranium markets declined in 1980, leaving behind significant historical resource estimates. In March 2026, Myriad doubled its land position at Copper Mountain and reported preliminary results from a high-resolution geophysics programme, with ground-truthing work currently under way.

The incoming US$2.5 million provides Myriad with capital to direct toward Copper Mountain's next exploration phases. The Company holds a binding agreement to acquire the remaining 25% interest in Copper Mountain from Rush Rare Metals Corp., which would bring its ownership to 100% upon completion.

Strategic Alliance with Subatomic Opens Door to New U.S. Uranium Opportunities

Alongside the asset sale, Myriad and Subatomic have agreed to form a strategic alliance to jointly explore and develop uranium projects in the United States beyond Red Basin. Subatomic Industries Corporation is backed by 8VC and Overmatch Ventures, combining technical mining expertise with a technology-oriented approach to resource development.

Subatomic CEO Timothy Chilleri commented:

"We are thrilled to partner with Tom and the Myriad board using a new model oriented around partnership and American uranium production. This partnership with Myriad Uranium is a defining milestone for the company. As power generation demand soars, the world is experiencing a structural paradigm shift that will reshape economies for decades to come. Uranium is the essential feedstock powering nearly 10% of global electricity needs. As the megatrends of energy and decarbonisation accelerate, nuclear power will play an increasingly larger role. We are excited to partner with Myriad to advance the Project while exploring opportunities for resource growth."

Subatomic CEO Thomas Lamb also noted:

"What is already clear is that the potential for nuclear energy to provide uninterruptible, clean power solutions for the technology sector is attracting a new class of investors into uranium, and into domestic U.S. sources of uranium in particular. Myriad is well-positioned to benefit from this accelerating trend, and we look forward to updating shareholders on key developments as they unfold as we partner with Subatomic."

Looking Ahead

The Red Basin sale is expected to close on or before 17 April 2026. Remaining conditions include the completion of due diligence by Subatomic and the execution of both the carry agreement and the strategic alliance agreement. Myriad has stated it will provide updates as those agreements are finalised. Concurrently, the Company is advancing exploration activity at Copper Mountain, with geophysics interpretation and ground-truthing programmes currently under way. Management has indicated that further details about Subatomic and the broader scope of the alliance will be disclosed in due course.

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