Copper Mountain – Myriad Uranium Corp.

Copper Mountain, Wyoming, USA

We are at an exciting early stage in the uranium cycle.
Uranium price is rising fast ($30 to over $90/lb in 18 months).
Junior uranium equities will follow the majors upwards.
Last cycle, quality juniors like Myriad went parabolic.
U.S. consumes ~50,000,000 lbs of uranium per year but produces just ~165,000 lbs.
This is about to dramatically change as the U.S. focuses on securing domestic supply. $2.7 billion recently approved.
A high proportion of U.S. investment will be deployed in Wyoming, the centre of the U.S. uranium sector.

3 of 4 current producing U.S. mines are in Wyoming
Sen. John Barrasso (R-WY) is leading the charge to ban Russian uranium, increase US production, secure U.S. uranium independence
Bipartisan support

75% earnable interest; path to 100%.
It is the first time since 1982 that there is unified ownership of the entire project area.
Union Pacific drilled 2,000+ boreholes, identified 6+ deposits, and was planning a mine centred on North Canning.
They estimated the potential of 2 of the deposits at up to 63.8 Mlbs, and estimated resources between 15.7 and 30.1 Mlbs (non-43-101).
Ore is highly leachable (~90-95% recoveries).
Historic and present-day experts cautiously optimistic re ISR.
New Knob Prospect: target 0.5 Mlbs at 0.15% with significant potential for expansion (non-43-101).

50 ppm background in the granites
“Modern” techniques could lead to new uranium discoveries.
Union Pacific in the 1970s was focused on medium grade bulk deposits. High grade structures not yet evaluated. They will be followed-up.
High grade is associated with amphibolite schists, a feature shared with Beaver Lodge (Athabasca) and other high grade districts globally.
New genetic models suggest a high chance for discovery of world-class deposits in both the hard rock and sandstone.

Union Pacific had planned a mine at Copper Mountain but aborted in 1980 as prices fell.
Evaluated as a medium grade, very large volume deposit, with potential for open pit mining
Potential for hub and spoke production from one or several open pit mines with a central processing plant
Data confirms ore highly amenable to leach (mid-90s%), with ISR potential.

Significant historic eU3O8 high grade intervals recently announced.
The intervals relate to 82 boreholes drilled into the “High Grade Zone”, an area slated for open-pit mining by Union Pacific.
Results indicate high grade material is relatively close to surface and gives Myriad a clearer path to production than previously thought.
New understanding of uranium mineralization at Copper Mountain may lead to increases in grades and volumes in this zone and elsewhere.

Union Pacific had intended the area to be the centre of a three-pit mine they were planning in the late 1970s.
The cross-sections include a significant number of high-grade intervals (up to 0.385% eU3O8) and many long, mineralized intervals (up to 291 feet).
Grade-Thickness (GT) products range from the minimum selected 0.3 ft% (equivalent to 0.1% over 3 feet) to 11.55 ft% (represented by 0.05% eU3O8 over 231 feet).
Within the data set compiled, there are 56 intervals >0.1% eU3O8 and 8 intervals >0.2% eU3O8

In March, 2024, U.S. Congress allocated $2.7 Billion to fund the recently enacted ‘Nuclear Fuel Security Act’ (NFSA), its largest cash infusion into U.S. Uranium in decades.
The NFSA is intended to boost domestic U.S. production of enriched uranium and end reliance on imports from Russia.
The passage of the $2.7 Billion NFSA funding brings the previously hibernating Uranium Reserve back into action, a program aimed at providing an emergency stockpile of uranium fuel in the U.S., while boosting domestic uranium production by U.S. miners.
Foreign imports currently provide nearly 100% of U.S. reactor fuel requirements. This will also put an end to backdoor funding of Putin’s war on Ukraine.
U.S. uranium production will rise from 165,000 lbs/yr to 50,000,000 lbs/yr.
Wyoming, the center of the U.S. uranium sector, is about to boom.

Property Option Agreement signed by Myriad Uranium Corp. and Rush Rare Metals on October 18, 2023.
75% earnable interest.
$1.5M spend within 2 years to earn 50%, $4M within 4 years to earn 75%.
Switch to 75/25 Joint Venture upon completion of spend requirements.
Upfront payment of $135,000 (paid).
Upfront share issuance of 575,000 common shares to Rush (issued).
$150,000 in Myriad shares payable at 1st anniversary, $250,000 in shares payable at 2nd anniversary.
Upon completion of a Preliminary Economic Assessment or Prefeasibility Study, $2,500,000 in shares issued to Rush
First C$50 million in net proceeds of production to be shared 50/50 (or equivalent economics).
For more details, see Myriad’s Oct 20, 2023 News Release.