Myriad Uranium Completes High-Resolution Ground Geophysics at Red Basin, Secures 100% Ownership, and Launches Market Awareness Program

Rhea-AI Summary

Myriad Uranium (OTCQB: MYRUF) completed high-resolution ground magnetic and radiometric surveys over its Red Basin claims in New Mexico and has earned a 100% interest in 86 lode claims covering ~1,776 acres following an option agreement dated January 30, 2025. The surveys collected 160 line-km magnetic and 142 line-km gamma data to help refine exploration targeting; final outputs are expected in the coming weeks. Myriad engaged Machai Capital for a 12-month market awareness program, paying $300,000 plus GST and issuing 300,000 stock options exercisable at $0.35 until November 25, 2027 (vest Mar 25, 2026). Historical resource estimates are described as not verified and not treated as current resources.

Positive

• Earned 100% interest in 86 Red Basin lode claims (~1,776 acres)
• Completed 160 line-km magnetic survey and 142 line-km gamma survey
• Engaged Machai for 12-month market awareness program with $300,000 fee

Negative

• Issued 300,000 stock options exercisable at $0.35 (possible dilution)
• Historical resource estimates remain unverified and not current resources

News Market Reaction

+9.49%

1 alert

+9.49% News Effect

On the day this news was published, MYRUF gained 9.49%, reflecting a notable positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Red Basin claims: 86 lode claims Project area: 1,776 acres Magnetic survey length: 160 line-km +5 more

8 metrics

Red Basin claims 86 lode claims Original claim areas in Red Basin Project, New Mexico

Project area 1,776 acres Area covered by Red Basin claims (~719 hectares)

Magnetic survey length 160 line-km High-resolution ground magnetic survey at Red Basin

Gamma survey length 142 line-km Ground gamma mapping over same grid area

Historical U3O8 grade 0.31% U3O8 1980 DOE estimate of 1.6M lbs U3O8 at Red Basin

Marketing fee $300,000 Cash payment to Machai Capital under 12-month agreement

Stock options granted 300,000 options Options to Machai at $0.35, expiring Nov 25, 2027

Option exercise price $0.35 Exercise price per share under Machai option grant

Market Reality Check

Price: $0.3901 Vol: Volume 155,924 is 0.29x t...

low vol

$0.3901 Last Close

Volume Volume 155,924 is 0.29x the 20-day average of 542,995, indicating muted trading interest pre-news. low

Technical Price at $0.23135 is trading above the 200-day MA of $0.22.

Peers on Argus

MYRUF was down 2.85% while peers like CAMZF (+0.78%), IMTCF (+3.64%), and NBRFF ...

MYRUF was down 2.85% while peers like CAMZF (+0.78%), IMTCF (+3.64%), and NBRFF (+8.25%) were flat-to-up, suggesting a stock-specific move rather than a sector-wide trend.

Historical Context

5 past events · Latest: Dec 08 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Dec 08	Project earn-in milestone	Positive	-5.4%	Earned 75% interest in Copper Mountain after >$5.5M in spending.
Dec 04	Geophysical survey update	Positive	+0.3%	Completed large-scale airborne survey at Copper Mountain with data pending.
Nov 26	Red Basin progress	Positive	+9.5%	Completed Red Basin ground geophysics, secured 100% interest, began marketing.
Nov 13	Equity financing	Neutral	+0.1%	Closed C$8.603M bought-deal private placement to fund U.S. uranium projects.
Nov 05	Media interview	Neutral	+22.1%	CEO interview feature aimed at investor engagement and visibility.

Pattern Detected

News around project advancement and marketing has often coincided with positive price moves, but there is at least one instance where a major project milestone saw a negative reaction.

Recent Company History

Over the last months, Myriad Uranium has advanced multiple U.S. uranium projects and its capital position. On Nov 13, 2025, it closed a C$8.603M bought deal to fund Copper Mountain and Red Basin. On Nov 26, 2025, it reported completing Red Basin geophysics and securing 100% claim ownership, alongside a new market awareness program, which coincided with a +9.49% move. Subsequent Copper Mountain survey results and a 75% earn-in showed mixed market reactions, while a media interview on Nov 5 aligned with a strong +22.08% gain.

Market Pulse Summary

The stock moved +9.5% in the session following this news. A strong positive reaction aligns with pri...

Analysis

The stock moved +9.5% in the session following this news. A strong positive reaction aligns with prior responses to Red Basin news, where this announcement previously saw a +9.49% move. The market may have focused on the transition to 100% ownership, detailed geophysical work, and the 12‑month marketing push. However, gains in the past have sometimes reversed after milestones, and the project’s historical resource figures are explicitly described as non‑current, which adds uncertainty to how much value the new data ultimately supports.

Key Terms

roll-front deposits, in-situ recovery, gamma mapping, scintillation detector, +4 more

8 terms

roll-front deposits technical

"Mineralisation is hosted in thick sections of channelized roll-front deposits hosted in permeable sandstones"

Roll-front deposits are concentrations of uranium that form in porous rock where oxygen-rich groundwater meets reduced conditions, causing dissolved uranium to precipitate into crescent-shaped layers along the moving front—think of a rust-colored stain spreading through a sponge. For investors, knowing a deposit is roll-front signals likely shallow, horizontally continuous ore that can be easier and cheaper to mine but may carry specific environmental and permitting risks that affect project costs and timelines.

in-situ recovery technical

"options that could be considered, including in-situ recovery."

In-situ recovery is a mining method that extracts a valuable material by dissolving it underground and pumping the solution to the surface instead of digging or blasting rock. For investors, it matters because this approach often lowers upfront construction costs, shortens development time and reduces visible land disturbance, but it also brings regulatory, environmental and groundwater risks that can affect project timelines, operating costs and valuation.

gamma mapping technical

"Gamma mapping covered 142 line-km over the same grid area."

Gamma mapping is a chart or dataset showing where options' gamma — the rate at which an option’s price-sensitivity to the underlying stock changes as the stock moves — is concentrated across strike prices and expirations. Investors care because clusters of gamma can act like pressure points: as the stock moves, market makers and traders hedge and their buying or selling can amplify price swings and affect liquidity, helping anticipate short-term volatility and trading risk.

scintillation detector technical

"connected to a Ludlum 44-10 scintillation detector."

A scintillation detector is a device that senses ionizing radiation by converting invisible high-energy particles or rays into tiny flashes of visible light, which are then turned into an electrical signal and counted. Investors care because these detectors are essential components in medical imaging, nuclear safety, security screening and industrial inspection—areas that drive steady demand, regulatory scrutiny and potential revenue for companies that make or supply the technology.

NaI (Tl) crystal technical

"The 44-10 uses a 2" × 2" NaI (Tl) crystal, which provides high sensitivity"

A NaI(Tl) crystal is a clear salt crystal given a tiny amount of thallium so it flashes visible light when struck by gamma rays or X‑rays, acting as the light-producing element (a “scintillator”) inside radiation detectors and medical imaging gear. Investors care because its performance, supply and regulatory acceptance directly affect the cost, reliability and sales of diagnostic scanners, security monitors and other devices—think of it as the light bulb inside a radiation camera, where shortages or better alternatives change market value.

open pit technical

"The host formations are amenable to open pit or underground mining"

A large, surface excavation where rock and soil are removed in stepped layers to reach and extract mineral deposits; picture a terraced, man‑made quarry reaching down to the ore. It matters to investors because open‑pit operations tend to produce high volumes at lower unit cost but require large up‑front investment, long operating life, and carry visible environmental and permitting risks that can affect production, costs and company value.

underground mining technical

"amenable to open pit or underground mining and possibly in-situ leaching."

Underground mining is the process of extracting minerals, metals or other resources by creating tunnels and chambers below the Earth’s surface rather than digging open pits. For investors, it matters because these operations are typically more expensive, slower to expand, and carry higher safety, technical and regulatory risks — like running a complex, deep basement project compared with harvesting fruit from trees — which affects production forecasts, costs and long-term value.

in-situ leaching technical

"open pit or underground mining and possibly in-situ leaching."

In-situ leaching is a mining method that extracts minerals by circulating a liquid through underground rock to dissolve the target metal, then pumping the mineral-rich fluid to the surface for recovery. Investors care because it often costs less and disturbs less land than traditional digging, but it brings regulatory, environmental and groundwater risks that can affect permits, cleanup obligations, operating costs and a project’s timeline and value.

AI-generated analysis. Not financial advice.

Vancouver, British Columbia--(Newsfile Corp. - November 26, 2025) - Myriad Uranium Corp. (CSE: M) (OTCQB: MYRUF) (FSE: C3Q) ("Myriad" or the "Company") is pleased to announce that it has completed ground radiometric and magnetic surveys over the original claim areas that were the subject of the 100% earn-in to the Red Basin Project, New Mexico The area is comprised of 86 lode claims in the Red Basin area of the Datil Mountains – Pietown Uranium District, Catron County, New Mexico, USA covering approximately 1,776 acres (approximately 719 hectares). The completion of this phase of work fulfils Myriad's earn-in requirements under the option agreement dated January 30, 2025 (the "Option Agreement") (announcement here) with First American Uranium Inc. and its 60%-owned subsidiary, First American Energy Fuels Ltd. respecting the claims, and Myriad has now earned a 100% interest in and to the claims.

Myriad also announces the engagement of Machai Capital to enhance investor awareness. Further details are provided below.

Thomas Lamb, Myriad's CEO, commented "We are delighted to complete this earn-in to 100% ownership of Red Basin. The entire basin is estimated to contain up to 45 Mlbs of uranium and our acreage within it is excellent, comprising the vast majority of historical drilling and known resources. Mineralisation is hosted in thick sections of channelized roll-front deposits hosted in permeable sandstones from surface to depths of less than 450 feet. The setting and nature of the mineralisation suggests there may be numerous extraction options that could be considered, including in-situ recovery. We are currently advancing a large-scale exploration permit for the project and this high-resolution ground survey will help us optimise it.

"We are also pleased to announce a significant new investment in investor awareness with the engagement of Machai Capital. With recent milestones achieved and additional developments on the horizon, this is the right moment to expand our international visibility as we advance our projects."

Ground Geophysical Survey Parameters and Results

The ground magnetic and radiometric surveys were conducted at 50 m line spacing along a north-south orientation.

• The magnetic survey was completed with 160 line-km of total data collected. Crews operated a Geometrics MagEx portable cesium-vapor magnetometer paired with a Geometrics MagStation base station for diurnal corrections. Both the rover and base sampled at 5 Hz. With an average walking speed of ~4 km/h, the resulting station spacing was roughly 0.2 m.

• Gamma mapping covered 142 line-km over the same grid area. The crew used an ERG RadScout mapping system consisting of RadScout software on a Juniper handheld, receiving counts from a Ludlum Model 3000 meter connected to a Ludlum 44-10 scintillation detector. The 44-10 uses a 2" × 2" NaI (Tl) crystal, which provides high sensitivity for total-count gamma surveys. Sampling was at 1 Hz, giving an average station spacing of ~1 m.

The recorded line paths for the data collection are shown in Figure 1 and preliminary output images are shown in Figure 2. Final data and outputs are expected in the coming weeks. The magnetic image shows channel-like features that appear to correlate with existing drainage patterns for the most part but may also give indication of sub-surface channels. Further interpretation and ground-truthing of the data and its determination of its utility for exploration targeting is still planned.

Figure 1: Ground survey line paths for recorded data

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6301/276002_69309881a4dc69ce_002full.jpg

Figure 2: Preliminary image outputs for the ground radiometric and magnetic surveys

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6301/276002_69309881a4dc69ce_003full.jpg

Geology and Mineralisation at Red Basin

Exploration and minor production in the Red Basin district dates back to the 1950s with approximately 1,194 pounds of U₃O₈ produced from ore with an average grade of 0.17% U₃O₈ (McLemore & Chenoweth, 2017). No formal production is known to have occurred within the Project area itself. Gulf Oil and Occidental Petroleum drilled more than 1,050 holes in the Red Basin Project area in the late 1960s through the early 1980s, most of which are located within Myriad's current claim areas.

Mineralisation is hosted in channelised roll-front deposits within permeable sandstones of the Crevasse Canyon Formation and pre-Baca Formation paleosols. Historical drilling on the Project has delineated a thick section of roll-front type uranium-vanadium mineralisation cropping out on the surface to approximately 450 feet down dip. The meandering uranium-vanadium bearing sandstones can be more than a mile in length and 600 or more feet wide. The host formations are amenable to open pit or underground mining and possibly in-situ leaching.

A 1980 assessment of uranium resources in the Colorado Plateau physiographic province (U.S. Department of Energy, 1980) estimated that Myriad's Red Basin Project contains approximately 1.6 million pounds U₃O₈ at an average grade of 0.31% U₃O₈. In 2012, Rio Grande Resources commenced a geologic evaluation of the drill hole gamma ray electric logs. Stratigraphic cross-sections were constructed, two separate roll-fronts were mapped, and additional resources were estimated. Readers are cautioned that historical resource estimates should not be relied upon to judge the quality of exploration potential of the Red Basin Project (see note on Historical Estimates).

An Open-File report (No. 138) produced by the New Mexico Bureau of Mines and Minerals (Chamberlin, 1981) indicates that the Red Basin area could contain as much as 30 – 45 million pounds of U₃O₈. In addition, the deposits could contain significant amounts of associated vanadium, up to 1.64% V₂O₅, as reported by Bachman et al. (1957).

Market Awareness Program

The Company has engaged Machai Capital Inc. ("Machai") for a 12-month term to provide digital marketing services including content creation, social media marketing, email marketing, and search engine optimisation. Machai is an arms-length marketing, advertising and public awareness firm based in Vancouver, British Columbia.

Upon execution of an agreement dated November 25, 2025, Myriad paid Machai $300,000 (plus GST) and issued 300,000 stock options of the Company to Machai. Each stock option is exercisable for one common share of the Company at an exercise price of $0.35 until November 25, 2027. The options vest March 25, 2026.

Machai is arm's length to Myriad and, to the knowledge of Myriad, other than the stock options issued under the agreement, neither Machai nor its principals have any present equity interest in the Company's securities, directly or indirectly, or any right to acquire any equity interest. Machai can be reached at #101 – 17565 58th Avenue, Surrey, BC V3S 4E3; Tel: (604) 375-0084, Email: suneal@machaicapital.com.

Historical Estimates

While Myriad Uranium has determined that the historical estimates described in this news release are relevant to the Red Basin Project area and are reasonably reliable given the authors and circumstances of their preparation, and are suitable for public disclosure, readers are cautioned not to place undue reliance on these historical estimates as an indicator of current mineral resources or mineral reserves at the Project area. A qualified person (as defined under NI 43-101) has not done sufficient work to classify any of the historical estimates as current mineral resources or mineral reserves, and Myriad Uranium is not treating the historical estimates as a current mineral resource or mineral reserve. Also, while the Red Basin claims contain all or most of each deposit referred to, some of the resources may be located outside the current Red Basin Project area. Furthermore, the estimates are decades old and based on drilling data for which the logs are not available to Myriad.

From Myriad Uranium's viewpoint, limitations include that the Company has not been able to verify or validate historical data. To verify the historical estimates and potentially re-state them as current resources, a program of digitization of available data would be required. This must be followed by re-logging and/or re-drilling to generate new data to the extent necessary that it is comparable with the original data, or new data that can be used to establish the correlation and continuity of geology and grades between boreholes with sufficient confidence to estimate mineral resources.

Qualified Person

The scientific or technical information in this news release respecting the Company's Red Basin Project has been approved by George van der Walt, MSc., Pr.Sci.Nat., FGSSA, a Qualified Person as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Mr. van der Walt is employed by The MSA Group (Pty) Ltd (MSA), a leading geological consultancy providing services to the minerals industry, based in Johannesburg, South Africa. He has more than 20 years industry experience and sufficient relevant experience in the type and style of mineralisation to report on exploration results.

The information and interpretations thereof are based on the Qualified Person's initial review of historical reports, which were recently obtained by the Company. The information did not include original data such as drilling records, sampling, analytical or test data underlying the information or opinions contained in the written documents. Therefore, the Qualified Person has not reviewed or otherwise verified the information and has not done sufficient work to classify the historical estimates as current mineral resources or mineral reserves. The Qualified Person considers the information to be relevant based on the amount and quality of work undertaken and reported historically.

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 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. The Company also holds a 100% interest in the Red Basin Uranium Project in New Mexico, which has a near-surface mineralisation, with significant upside potential. 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. The final news release regarding chemical assays of 2024 Copper Mountain drilling can be viewed here. 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.

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; access to minerals where the surface rights above them have not been settled; 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/276002

FAQ

What did Myriad Uranium (MYRUF) announce on November 26, 2025 about Red Basin?

Myriad announced completion of ground radiometric and magnetic surveys and that it has earned a 100% interest in 86 Red Basin claims (~1,776 acres).

How much survey data did Myriad collect at Red Basin (MYRUF)?

The company collected 160 line-km of magnetic data and 142 line-km of gamma (radiometric) data over the claim area.

What are the terms of the Machai Capital engagement for MYRUF?

Myriad paid Machai $300,000 plus GST and issued 300,000 stock options exercisable at $0.35 until Nov 25, 2027; options vest Mar 25, 2026.

Does Myriad (MYRUF) treat historical Red Basin estimates as current resources?

No; the company cautions the historical estimates are unverified, not classified as current mineral resources, and should not be relied upon as such.

What potential uranium size has been reported for the Red Basin area cited by Myriad (MYRUF)?

An open-file report is cited that suggests the Red Basin area could contain as much as 30–45 million pounds U3O8, but these are historical estimates and unverified.