Vancouver, British Columbia–(Newsfile Corp. – July 12, 2024) – Myriad Uranium Corp. (CSE: M) (OTCQB: MYRUF) (FSE: C3Q) (“Myriad Uranium” or the “Company”) is pleased to report on a recent scale at the Copper Mountain Uranium Project (the “Project”), located in Wyoming, United States. The on-site call was carried out through Thomas Lamb, the company’s chairman and chief executive, and George van der Walt, a qualified expert. user and member of the company’s technical committee.
Myriad Uranium’s flagship asset, the Copper Mountain uranium project, was the subject of $78 million ($2024) in exploration and development spending through Union Pacific in the 1970s. During this time, Union Pacific drilled more than 2,000 wells and discovered 7 uranium. deposits and customers. This resulted in the progression of a six-pit mine plan targeting the Canning deposit (Figure 3), based on estimates of old resources in the seven uranium deposits (excluding other old customers and past generating mines) from 15. 7 to 30. 1. million pounds. MLB”). Union Pacific had also estimated that the overall outlook for known and speculated targets may exceed 65 million pounds, based on extensions of existing targets and similar geological models for the surrounding area. These estimates are old and do not exist according to NI 43-101.
Thomas Lamb, chief executive, commented: “During our stopover on site, we were able to verify the accuracy of the well locations in our body of knowledge. In particular, the drilling locations we have at our disposal relate to the “Area of Special Interest” or “High Grade Zone” at North Canning, where Union Pacific has drilled mineralized intersections up to 291 feet with grades ranging up to 3,850 . ppm, it seems to be able to be located without problems with a handheld GPS. This will make it much easier to plan and guide our next drilling program. Some of the wells drilled in the 1970s were left intact or open after drilling, wooden stakes were discovered on the surface with well numbers etched on steel tags that we were able to cross-reference with the knowledge of former Union Pacific drilling. , Sir . Walt and I also stopped at the former Arrowhead uranium mine, at the center of the Copper Mountain uranium project. During its operation in the 1950s, Arrowhead produced 500,000 pounds of 0. 15% uranium and would possibly involve other significant quantities of uranium, none of which were included. in Union Pacific’s historic feasibility studies. Measurements at Arrowhead taken with an RS 230 (uncalibrated) spectrometer at the site scale show readings of up to 750 ppm uranium in the sediments between the conglomerate boulders at the surface (Figure 3).
George van der Walt, a qualified person and member of the Company’s Technical Committee, commented that “the ability to locate old drilling positions on the Copper Mountain floor gives us the opportunity to plan long-term activities, such as drilling, much more effectively. ” effective way. This is a very positive end result from our on-site visit.
Historical estimates
Although Myriad Uranium has decided that the old estimates described in this press release are applicable to the domain of the Copper Mountain Project and are fairly reliable given the authors and cases of their preparation, and are suitable for public disclosure, readers are cautioned not to place undue confidence. in those old estimates as an indicator of existing mineral resources or mineral reserves in the allocation domain. A qualified user (as explained in NI 43-101) has not done enough painting to classify old estimates as existing mineral resources or mineral reserves, and Myriad Uranium does not treat old estimates as mineral resources or existing mineral reserves. In addition, the Copper Mountain Project’s domain comprises all or the maximum of each disputed deposit, some of the disputed resources would possibly be located outside of the existing domain of the Copper Mountain Project. In addition, the estimates are decades old and based on drilling data for which records are often not available today. Therefore, old resource estimates should not be unduly relied upon.
The inherent limitations of old estimates come with the fact that the nature of the mineralization (hosted fracture) makes the estimate from drilling knowledge less reliable than that of other types of deposits (e. g. those that are thick and uniform). From Myriad Uranium’s perspective, the limitations come from the fact that the company has not been able to verify the data itself and that the estimate could be positive compared to upcoming work that implemented a “delayed fission neutron” system ( LFN) to calculate the laws. , the DFN is debatable because some experts consider its technique to be too conservative. However, it implemented in upcoming resource estimates through Union Pacific for Copper Mountain.
Qualified Person
The clinical or technical data contained in this press release relating to the Company’s Copper Mountain Project has been approved by George van der Walt, MSc. , Pr. Sci. Nat. , MGSSA, a Qualified Person as explained in National Regulations 43-101. – Mining Project Disclosure Standards. It is based on the Qualified Person’s initial review of old reports recently received through the Company. The data does not come from original knowledge, such as drilling logs, sampling, research or verification of the knowledge underlying the data or reviews contained in written materials. Therefore, the Qualified Person has not reviewed or otherwise verified the data and has not made sufficient paintings to classify the old estimates as existing mineral resources or mineral reserves. The qualified user considers that the data is applicable based on the quantity and quality of the paintings previously made and reported. A deeper review of all available original knowledge will be carried out and presented in more detail in long-term releases.
Mr. van der Walt is engaged through The MSA Group (Pty) Ltd (MSA), a leading geological consulting company offering to the mining industry, founded in Johannesburg, South Africa. He has more than 20 years of experience in the industry and enough applicable experience. in the type and flavor of mineralization to inform exploration results.
About Myriad Uranium Corp.
Myriad also owns a 50% interest in Millen Mountain’s assets in Nova Scotia, Canada, with the remaining 50% held through Probe Metals Inc. , and an 80% interest in uranium exploration licenses in NigerArray. For more data, please refer to the Myriad Data Presentation. on SEDAR (www. sedarplus. ca), contact Myriad by phone at 1. 604. 418. 2877 or through Myriad’s website at www. myriaduranium. com.
A myriad of contacts: Thomas LambPresident and CEO ejecutivotlamb@myriaduranium. com
Forward-Looking Statements
Mineralization hosted in adjacent or nearby tenements is not necessarily indicative of mineralization hosted in the Company’s tenements. This press release comprises “forward-looking data” that are based on the Company’s existing expectations, estimates, forecasts and projections. This forward-looking data includes, among other things, the Company’s activities, plans, customers and business strategy. The words “possibly”, “could”, “could”, “would”, “probably”, “expect”, “anticipate”, “intend”, “estimate”, “plan”, “forecast”, “project” and “believe” or other similar words and expressions are intended to identify forward-looking data. The reader is cautioned that assumptions used in the preparation of any forward-looking information are likely to prove incorrect, adding with respect to the Company’s business plans relating to the exploration and progress of the Company’s mineral homes, the proposed paints in the Homes company minerals. and the prospective and economic viability of the Company’s mineral tenements. Forward-looking data is subject to known and unknown risks, uncertainties and other points that could cause the actual results, point of business, functionality or achievements of the Company to be materially different from those expressed or implied. through these prospective data. These items include, but are not limited to: adjustments in economic situations or money markets; higher costs; dispute; legislative, environmental and other judicial, regulatory, political and competitive progressions; and technological or operational difficulties. This list is not exhaustive of points that would possibly affect our prospective data. These and other points deserve careful consideration and readers deserve not to place undue reliance on such forward-looking data. The Company does not intend, and expressly disclaims any goal or obligation, to update or revise any forward-looking data, whether as a result of new data, long-term occasions or otherwise, unless required by applicable law .
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