Early Warning Press Release Regarding Rush Rare Metals Corp.

Rhea-AI Summary

Myriad Uranium (CSE: M, OTCQB: MYRUF, FSE: C3Q) has acquired 46,223,258 common shares of Rush Rare Metals through a statutory plan of arrangement, resulting in Myriad now owning 100% of Rush’s issued and outstanding shares.

As consideration under the Arrangement, Myriad issued 24,983,671 Myriad common shares to former Rush shareholders at a deemed price of $0.42 per share, for an aggregate value of $10,493,141.80. Prior to this transaction, Myriad held no Rush shares. The company also highlights its existing uranium-focused assets, including a 100% interest in the Copper Mountain Uranium Project in Wyoming, a 10% free carried interest in the Red Basin Uranium Project, and its 100%-owned Breccia Pipe Project in Arizona, all of which have historical uranium or REE resource estimates that Myriad plans to further evaluate.

Positive

• 100% ownership of Rush Rare Metals via 46,223,258 Rush Shares acquired
• All-share consideration of $10,493,141.80 preserves Myriad’s cash resources
• Issued 24,983,671 Myriad shares provides clear, quantified deal valuation at $0.42 per share

Negative

• Issuance of 24,983,671 new Myriad shares creates equity dilution for existing shareholders

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Vancouver, British Columbia--(Newsfile Corp. - August 24, 2026) - Myriad Uranium Corp. (CSE: M) (OTCQB: MYRUF) (FSE: C3Q) ("Myriad" or the "Company") announces that it has acquired an aggregate of 46,223,258 common shares ("Rush Shares") of Rush Rare Metals Corp. ("Rush") pursuant to a statutory plan of arrangement (the "Arrangement"), as previously announced by Myriad on August 21, 2026. Under the Arrangement, Myriad issued an aggregate of 24,983,671 Myriad common shares (each, a "Myriad Share") to Rush shareholders at a deemed price of $0.42 per Myriad Share, representing aggregate consideration of $10,493,141.80. Prior to the Arrangement, Myriad did not hold any Rush Shares. Following the Arrangement, Myriad holds 46,223,258 Rush Shares, representing 100% of the issued and outstanding Rush Shares.

The Form 62-103F1 - Required Disclosure under the Early Warning Requirements associated with this news release can be obtained from Rush's profile on SEDAR+ at www.sedarplus.ca. To obtain a copy of the report, please contact Mr. Lamb of Vancouver, British Columbia, at +1.604.418.2877 or tlamb@myriaduranium.com.

About Myriad Uranium Corp.

Myriad Uranium Corp. holds a 100% interest in the Copper Mountain Uranium Project in Wyoming, USA. Copper Mountain hosts multiple historic uranium deposits and past-producing mines, including the Arrowhead Mine (approximately 500,000 lbs U₃O₈ produced). Union Pacific conducted extensive exploration and development in the district during the late 1970s, including approximately 2,000 boreholes and advanced mine planning, before the uranium market downturn in 1980. Union Pacific is estimated to have invested approximately C$125 million (2026 dollars) in the project, generating significant historical resource estimates.

A news release detailing a comprehensive assessment of Copper Mountain's uranium endowment by Bendix Engineering for the US Department of Energy published in 1982 can be viewed here.

Myriad holds a 10% free carried interest in the Red Basin Uranium Project, recently sold to 8VC- and Overmatch-backed Subatomic Industries. Red Basin carries significant historical resource estimates from extensive drilling by Occidental Oil in the late 1970s, and also hosts vanadium, which has been designated a strategic and critical mineral by the U.S. government. Note the caution on historical estimates below.

Myriad's 100%-owned Breccia Pipe Project in Arizona comprises at least 23 breccia pipes that are prospective for uranium and REEs. One of the pipes, the Wate Pipe, was previously owned and explored by Energy Fuels and is the subject of a historical resource estimate.

Note: A qualified person has not done sufficient work to classify the Copper Mountain, Red Basin, and Breccia Pipe Project historical estimates as current mineral resources or reserves and Myriad is not treating historical estimates as current resources or reserves. Myriad intends to conduct further work to determine whether the historical estimates can be verified and, if appropriate, supported by current mineral resource estimates.

For further information, please refer to Myriad's disclosure record on SEDAR+ (www.sedarplus.ca), contact Myriad by telephone at +1.604.418.2877, or refer to Myriad's website at www.myriaduranium.com.

Myriad Contacts:
Thomas Lamb
President and CEO
tlamb@myriaduranium.com

Forward-Looking Statements

This news release contains "forward-looking information" that is based on the Company's current expectations, estimates, forecasts and projections. This forward-looking information includes, among other things, the Company's business, plans, outlook and business strategy. The words "may", "would", "could", "should", "will", "likely", "expect," "anticipate," "intend", "estimate", "plan", "forecast", "project" and "believe" or other similar words and phrases are intended to identify forward-looking information. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect, including with respect to the Company's business plans respecting the exploration and development of the Company's mineral properties, the proposed work program on the Company's mineral properties and the potential and economic viability of the Company's mineral properties. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: inability to verify historical data, no assurance of defining mineral resources, permitting, drilling delays and changes in economic conditions or financial markets; increases in costs; litigation; legislative, environmental and other judicial, regulatory, political and competitive developments; and technological or operational difficulties. This list is not exhaustive of the factors that may affect our forward-looking information. These and other factors should be considered carefully, and readers should not place undue reliance on such forward-looking information. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by applicable law.

The CSE has not reviewed, approved or disapproved the contents of this news release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/311256

FAQ

What did Myriad Uranium (OTCQB: MYRUF) announce about Rush Rare Metals on August 24, 2026?

Myriad Uranium announced it acquired 46,223,258 common shares of Rush Rare Metals, giving it 100% ownership. According to Myriad Uranium, this was completed via a statutory plan of arrangement, with consideration paid entirely in Myriad common shares.

How much did Myriad Uranium pay to acquire Rush Rare Metals, and in what form?

Myriad Uranium paid deemed consideration of $10,493,141.80, all in its own shares. According to Myriad Uranium, it issued 24,983,671 Myriad common shares at a deemed price of $0.42 per share to Rush shareholders under the arrangement.

How many shares of Rush Rare Metals does Myriad Uranium (MYRUF) now own after the arrangement?

Myriad Uranium now owns 46,223,258 common shares of Rush Rare Metals, representing 100% of Rush’s issued and outstanding shares. According to Myriad Uranium, it previously held no Rush shares before closing this statutory plan of arrangement.

What is the impact of the Rush Rare Metals acquisition on Myriad Uranium’s share count?

The acquisition resulted in the issuance of 24,983,671 new Myriad common shares to former Rush shareholders. According to Myriad Uranium, these shares were valued at a deemed price of $0.42, implying dilution for existing Myriad shareholders.

Where can investors find Myriad Uranium’s early warning report about its Rush Rare Metals holdings?

Investors can access the Form 62-103F1 early warning report on Rush Rare Metals’ profile on SEDAR+. According to Myriad Uranium, the report is available at SEDAR+ (www.sedarplus.ca) and can also be requested directly from the company’s contact.

What other uranium assets does Myriad Uranium (MYRUF) hold besides Rush Rare Metals?

Myriad Uranium holds a 100% interest in the Copper Mountain Uranium Project in Wyoming, a 10% free carried interest in the Red Basin Uranium Project, and the 100%-owned Breccia Pipe Project in Arizona. According to Myriad Uranium, these projects have historical resource estimates under review.