Myriad Uranium Earns 75% Interest in Copper Mountain, a Key Milestone for the Company

Rhea-AI Summary

Myriad Uranium (OTCQB: MYRUF) announced on December 8, 2025 that it has earned a 75% interest in the Copper Mountain Uranium Project in Wyoming by spending over $5.5 million on eligible expenditures under the option agreement with Rush Rare Metals dated October 18, 2023, as amended.

The company's 75% interest and Rush's 25% interest are subject to certain underlying NSR royalties. Management said first-phase drilling and exploration have significantly exceeded expectations.

Positive

• Earned 75% interest in Copper Mountain by spending over $5.5 million
• First-phase drilling and exploration significantly exceeded expectations

Negative

• Rush retains a 25% interest in the Project
• Myriad's 75% interest is subject to underlying NSR royalties

Argus Dec 8 session

-5.39% close to close Open Argus

Details

News Market Reaction – MYRUF

On Dec 8, the day this news came out, MYRUF closed 5.39% below the previous close.

Data tracked by StockTitan Argus for the Dec 8 session.

Key Figures

Earned project interest: 75% Partner project interest: 25% Project expenditures: over $5.5 million

Earned project interest

75%

Interest in Copper Mountain Uranium Project under option agreement

Partner project interest

25%

Rush Rare Metals interest in Copper Mountain Project

Project expenditures

over $5.5 million

Eligible expenditures to earn 75% interest under Option Agreement

Historical Context

5 past events · Latest: Dec 08

5 events

1. Dec 08

   Project milestone

   24h Move

   -5.4%

   Earned 75% interest in Copper Mountain after >$5.5M spend.

2. Dec 04

   Exploration update

   24h Move

   +0.3%

   Completed large-scale radiometric and magnetic survey at Copper Mountain.

3. Nov 26

   Asset consolidation

   24h Move

   +9.5%

   Secured 100% interest in Red Basin claims and advanced geophysics work.

4. Nov 13

   Financing

   24h Move

   +0.1%

   Closed C$8.603M bought-deal private placement to fund projects.

5. Nov 05

   Media coverage

   24h Move

   +22.1%

   CEO interview publication preceded a strong upside move.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

nsr royalties, option agreement

2 terms

nsr royalties financial

"Myriad's 75% interest and Rush's 25% interest in the Project are subject to certain underlying NSR royalties."

NSR royalties are a share of the revenue from mined metals paid to a royalty holder after the ore is processed and sold — similar to taking a toll on each unit of finished product rather than owning part of the mine. They matter to investors because they provide a potential long-term cash flow tied to production levels and commodity prices without the costs and risks of running a mine, making them a way to gain exposure to mining profits with different risk and return characteristics than owning equity.

option agreement financial

"eligible expenditures under the property option agreement (the "Option Agreement") with Rush Rare Metals Corp."

An option agreement is a contract that gives one party the right, but not the obligation, to buy or sell a specific asset (like company shares or property) at a pre-agreed price within a set time period. Think of it like a reservation or ticket that holds a purchase at today’s terms for later — it matters to investors because it can create potential future value or liability, change ownership stakes, and affect share dilution and company control.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Vancouver, British Columbia--(Newsfile Corp. - December 8, 2025) - Myriad Uranium Corp. (CSE: M) (OTCQB: MYRUF) (FSE: C3Q) ("Myriad" or the "Company") is pleased to announce that it has earned a 75% interest in the Copper Mountain Uranium Project in Wyoming, USA (also, the "Project") by spending over $5.5 million on eligible expenditures under the property option agreement (the "Option Agreement") with Rush Rare Metals Corp. ("Rush") dated October 18, 2023, as amended. Myriad's 75% interest and Rush's 25% interest in the Project are subject to certain underlying NSR royalties.

Myriad's CEO Thomas Lamb commented:

"Reaching the 75% expenditure threshold is an important milestone for the Company, and it comes at a moment when the scale and potential of Copper Mountain are becoming increasingly clear. Our first phase of drilling and exploration has significantly exceeded expectations and the Project has the potential to be one of America's largest."

About Myriad Uranium Corp.

Myriad Uranium Corp. is a uranium exploration company which holds a 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 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. News releases regarding chemical assays of 2024 Copper Mountain drilling can be viewed here and 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/277243

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Myriad Uranium (MYRUF) announce on December 8, 2025 about Copper Mountain?

Myriad announced it earned a 75% interest in the Copper Mountain Project after spending over $5.5 million on eligible option expenditures.

How much did Myriad spend to earn 75% of Copper Mountain (MYRUF)?

Myriad spent over $5.5 million on eligible expenditures to reach the 75% earn-in threshold.

Who holds the remaining ownership of the Copper Mountain Project after Myriad's earn-in?

Rush Rare Metals holds the remaining 25% interest in the Project.

Are there royalties affecting Myriad's interest in Copper Mountain (MYRUF)?

Yes, both Myriad's 75% interest and Rush's 25% interest are subject to certain underlying NSR royalties.

Where is the Copper Mountain Uranium Project located for Myriad (MYRUF)?

The Copper Mountain Uranium Project is located in Wyoming, USA.

What did Myriad say about its drilling results at Copper Mountain (MYRUF)?

The company stated that its first-phase drilling and exploration significantly exceeded expectations.