Myriad Uranium Appoints Eduards Smirnovs as Industry Advisor

Rhea-AI Summary

Myriad Uranium Corp (CSE: M, OTCQB: MYRUF) has appointed Eduards Smirnovs as external Industry Advisor. Smirnovs brings extensive uranium sector expertise, having served as CEO of both Uranium One Inc. and Lotus Resources. His experience includes overseeing six producing mines and three construction-ready projects at Uranium One Inc., as well as leading Lotus Resources' efforts to refurbish a past-producing mine.

The appointment comes amid an anticipated uranium sector resurgence following President Trump's March 20, 2025 Executive Order designating uranium as a critical mineral. Smirnovs' experience with Uranium One Americas Inc. operations, including the Shootaring Canyon Uranium Mill in Utah and Irigaray Central Processing Plant in Wyoming, aligns with Myriad's U.S. uranium project development goals.

As part of the appointment, Myriad has granted Smirnovs 150,000 stock options at $0.26 per share, exercisable over five years with staggered vesting periods through March 31, 2026.

Positive

• Appointment of highly experienced uranium sector specialist with CEO-level expertise
• Strategic alignment with U.S. government's emphasis on domestic uranium supply
• Projects located in established uranium jurisdictions with historical resources

Negative

• Stock option grant of 150,000 shares represents potential dilution for existing shareholders

News Market Reaction

-0.91%

1 alert

-0.91% News Effect

On the day this news was published, MYRUF declined 0.91%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Vancouver, British Columbia--(Newsfile Corp. - April 1, 2025) - Myriad Uranium Corp. (CSE: M) (OTCQB: MYRUF) (FSE: C3Q) ("Myriad" or the "Company") is pleased to announce that Eduards Smirnovs has been appointed external Industry Advisor to the Company.

Mr. Smirnovs is a highly regarded uranium sector specialist with extensive experience in mine-to-port uranium operations and uranium exploration. He has held senior management positions with leading uranium companies, including Uranium One Inc. and Lotus Resources, where he ultimately served as Chief Executive Officer of both organizations. Mr. Smirnovs' career includes a five-year tenure at Uranium One Inc., a major uranium producer operating six producing mines, three construction-ready projects, and a global exploration portfolio. He also led Lotus Resources, an emerging uranium producer focused on refurbishing and restarting a past-producing mine. Most recently, Mr. Smirnovs has provided advisory services as subject matter specialist to executive teams operating mining, private equity and commodity trading businesses.

Myriad CEO Thomas Lamb commented: "We are delighted to welcome Mr. Smirnovs to Myriad as an external Industry Advisor. His deep operational and commercial expertise aligns well with our strategic growth plans and represents a strong endorsement of our Company's potential. This appointment reinforces our commitment to advancing Myriad's U.S. uranium projects in light of the anticipated resurgence in the uranium sector, following President Trump's March 20, 2025, Executive Order designating uranium as a critical mineral and various federal and state initiatives. Mr. Smirnovs' prior experience overseeing Uranium One Americas Inc. operations, including the Shootaring Canyon Uranium Mill in Utah and the Irigaray Central Processing Plant in Wyoming with associated portfolios of uranium projects, provides invaluable insight as we position Myriad for future growth. Both of these past-producing operations with significant historical resources, which were subsequently acquired by Anfield Resources and Uranium Energy, have in recent years advanced their development and reached commercial production decisions."

Mr. Smirnovs commented: "Myriad's uranium projects in the U.S. are well-positioned for continued development, with large historical resources and significant upside potential in key uranium jurisdictions such as Wyoming and New Mexico. The U.S. government's increasing emphasis on securing domestic uranium supply has created strong incentives for the restart of past-producing mines and the advancement of exploration projects. This support provides a solid foundation for Myriad to advance its projects and potentially contribute to the growth of domestic uranium resources. I look forward to working with Myriad's management team and assisting in shaping the Company's commercial strategy as it advances its U.S. uranium projects."

Stock Options Grant
In connection with this appointment, the Company has granted 150,000 stock options to Mr. Smirnovs. Each option is exercisable for one common share at $0.26 for five years. 50,000 options vest immediately, 50,000 options vest on September 30, 2025, and the remaining 50,000 options vest on March 31, 2026.

About Myriad Uranium Corp.
Myriad Uranium Corp. is a uranium exploration company with an earnable 75% interest in the Copper Mountain Uranium Project in Wyoming, USA. Copper Mountain hosts several known uranium deposits and historic uranium mines, including the Arrowhead Mine which produced 500,000 lbs of U₃O₈. Copper Mountain saw extensive drilling and development by Union Pacific during the late 1970s including the development of a mine plan to fuel a planned fleet of California Edison reactors. Operations ceased in 1980 before mining could commence due to falling uranium prices. Approximately 2,000 boreholes have been drilled at Copper Mountain and the Project Area has significant exploration upside. Union Pacific is estimated to have spent C$117 million (2024 dollars) exploring and developing Copper Mountain, generating significant historical resource estimates which are detailed here. The results of Myriad's 2024 drill campaign at Copper Mountain are detailed here and here. The Company also recently acquired, subject to completing a geophysical survey this year, a 100% interest in the Red Basin Uranium Project in New Mexico, which has a near-surface historical resource (non-43-101) of 0.5 Mlbs indicated and 1.5 to 6.5 Mlbs inferred at grades from 1,700 to 3,100 ppm with significant upside potential. The announcement can be viewed here. Our Crux Investor overview page including recent interviews can be viewed here. The Company's presentation can be viewed here. News releases regarding historical drilling can be viewed here and here. Myriad also has a 50% interest in the Millen Mountain Property in Nova Scotia, Canada, with the other 50% held by Probe Gold Inc.

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: 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/246885

FAQ

What experience does Eduards Smirnovs bring to Myriad Uranium (MYRUF)?

Smirnovs brings experience as former CEO of Uranium One Inc. and Lotus Resources, managing six producing mines, three construction-ready projects, and extensive uranium operations expertise.

How many stock options did Myriad Uranium (MYRUF) grant to Eduards Smirnovs?

Myriad granted 150,000 stock options at $0.26 per share, vesting in three tranches through March 31, 2026.

What is the significance of Trump's March 2025 Executive Order for Myriad Uranium (MYRUF)?

The Executive Order designated uranium as a critical mineral, creating stronger incentives for domestic uranium production and project development.

Which key U.S. uranium jurisdictions is Myriad Uranium (MYRUF) focused on?

Myriad's uranium projects are located in Wyoming and New Mexico, featuring large historical resources with significant upside potential.