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

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.