Myriad Uranium expands Copper Mountain Project to 9,320 acres

Myriad Uranium has announced the expansion of the Copper Mountain Project Area, increasing its size from approximately 4,200 acres to approximately 9,320 acres.

The expansion was guided by data from the company's 2024 maiden drill program, historical information, and input from Jim Davis, former General Manager of Union Pacific's exploration program at Copper Mountain in the 1970s. The newly-acquired areas include various prospects known as Railroad, Steffen Hill, Cedar Ridge, Mole, West Mesa, and Lucky Cliff, as well as extensions into known mineralisation areas such as Fuller/Utah, Mint, Arrowhead, Midnight, and Knob.

Thomas Lamb, Chief Executive Officer of Myriad Uranium, stated, "I've referred to the blue sky potential of Copper Mountain in the past, but perhaps without the emphasis it deserved, since we didn't have all key areas tied up. But now I feel more comfortable doing so. During the 1970s Union Pacific estimated the potential of known deposits and prospects within their areas at Copper Mountain at over 65 Mlbs. But subsequent estimates by experts such as Bendix (for the US Department of Energy) and the authors of a 2010 comprehensive data review for Neutron Energy (now part of enCore) put the district's potential even higher. All the historical reports suggest something similar: 'Field work, drilling and evaluations of the data produced has established that there is potentially a very large resource of uranium at Copper Mountain. Perhaps as much as several hundred million pounds. - Neutron Energy, 2010'."

The newly-acquired areas are believed to contain uranium mineralisation at surface or subsurface, and may also be prospective for other minerals. According to historical reports, several areas showed indications of uranium deposits.

Lamb further explained, "We intend to control the key areas that will enable us to test this potential. Previous exploration has shown that the newly-acquired areas have exciting potential and could significantly increase our mineral endowment at Copper Mountain. I should remind readers that all of the estimates of potential I refer to, and, indeed, any other estimates in this news release, are 'historical estimates'."

Additional insights from geological assessments suggest that deeper mineralisation may exist across the Copper Mountain District due to thrust faulting, potentially influenced by historical drilling data, and these notions are being explored further.

Lamb noted the enduring belief in the vast uranium potential, quoting Jim Davis and D.T. Wilton (2010): "The Copper Mountain Uranium District has an enormous uranium endowment in the granites which make up the core of the Owl Creek mountain range. This uranium endowment, mobilized by extensive hydrothermal solutions acting within a complex structural system and demonstrated host situations, represents an attractive potential for large uranium deposits based on world class models, including the French granites; Nabarlek, Australia and Beaverlodge, Canada."

The company has entered into a financial advisory services agreement with VSA Capital Limited to provide financial advisory and research services. This agreement commenced on 15 January 2025, with services being rendered for an initial term until 15 January 2027.

Andrew Monk, CEO of VSA Capital, commented on the partnership: "The fundamental and geopolitical backdrop to the uranium market is rapidly evolving and securing transparent and reliable supply is becoming increasingly important, particularly for the USA and North America. VSA Capital is pleased to be working with Myriad Uranium providing the company with the necessary strategic and corporate financial advice as they seek to advance their portfolio of assets in Wyoming. We will seek to leverage our significant expertise in the mining sector to support Myriad and its stakeholders' objectives."

The latest developments at Copper Mountain reflect a strategic expansion aimed at exploiting the site's momentum from historical investments, with expectations of improved resource estimations subject to further verification of historical data.