CORRECTION FROM SOURCE: Myriad Uranium Announces Preliminary Radiometric Results from Lucky Cliff Drilling

Myriad discloses only historical uranium estimates, not current resources or reserves.

What the company is saying

Myriad Uranium Corp. presents a historical uranium estimate of 26.63 million pounds eU₃O₈ in 48.95 million tonnes at 269 ppm, using a 100 ppm cut-off, for its 100%-owned Copper Mountain project in Wyoming, USA. The company emphasizes these figures are historical, originating from Rocky Mountain Energy Company reports summarized in a 1979 document. It repeatedly clarifies that a Qualified Person has not verified these estimates as current resources or reserves and that Myriad is not treating them as such. The narrative highlights Myriad’s 10% free carried interest in the Red Basin project, recently sold to Subatomic Industries, and ownership of the Breccia Pipe Project in Arizona with at least 23 uranium- and REE-prospective pipes. The announcement stresses the scale of historic work, referencing Union Pacific’s C$125 million (2026 dollars) investment and past production at Arrowhead Mine, but does not claim any current economic value. Tone remains neutral and factual, with forward-looking statements limited to intentions to verify historical estimates.

What the data suggests

The only quantified resource figure is a historical estimate: 26.63 million pounds eU₃O₈ in 48.95 million tonnes at 269 ppm, based on a 1979 report. No current drilling, assay, or production data is disclosed for any project. Union Pacific’s cited C$125 million (2026 dollars) investment and the Arrowhead Mine’s 500,000 pounds U₃O₈ production are both historical and not attributable to Myriad’s present operations. Myriad’s 10% free carried interest in Red Basin is mentioned, but without any numerical resource or financial data for that project. The Breccia Pipe Project is described as containing at least 23 pipes, but no grades, tonnages, or economic metrics are provided. There is no evidence of current revenue, expenses, cash position, or operational progress. The data is transparent about its historical nature and limitations, but does not support any claim of present value or near-term economic impact.

Analysis

The announcement is primarily a clarification of historical resource estimates and project interests, with explicit caveats that these are not current mineral resources or reserves. The language is factual and avoids promotional or exaggerated claims, repeatedly noting that a Qualified Person has not verified the historical estimates and that Myriad is not treating them as current resources. Only one forward-looking statement is present, regarding the company's intention to conduct further verification work. There is no discussion of immediate or future earnings, production, or profitability, nor is there any indication of a large capital outlay by Myriad itself. The only capital figure cited is a historical investment by Union Pacific, not attributable to Myriad. Overall, the narrative is proportionate to the evidence, with no hype or inflation detected.

Risk flags

• ●Resource classification risk is high: all uranium figures are historical, not verified by a Qualified Person, and not compliant with current NI 43-101 standards. This means the numbers cannot be relied upon for investment or development decisions.
• ●Disclosure risk is material: the announcement contains no current financial, operational, or technical data, making it impossible to assess Myriad’s present financial health, project progress, or ability to fund verification work.
• ●Execution risk is significant: advancing historical estimates to current resources typically requires substantial drilling, technical studies, and permitting, none of which are described or budgeted in this announcement.

Bottom line

This announcement provides only historical uranium resource estimates with explicit caveats that they are not current, verified, or NI 43-101 compliant. No operational, financial, or technical progress is reported, and there is no evidence of near-term catalysts or value creation. The company’s interests in Red Basin and the Breccia Pipe Project are described without supporting data or timelines. Investors cannot infer any current asset value or project advancement from this disclosure. The most important takeaway is that Myriad’s uranium projects remain at the historical data stage, with all value contingent on future verification work that is neither scheduled nor funded in this release. This announcement is not actionable for investment decisions until current, independently verified resource estimates or operational milestones are disclosed.

Announcement summary

(CSE: M) (OTCQB: MYRUF) Myriad Uranium Corp. advises that the historical estimate of 26.63 Mlbs eU₃O₈ is contained in 48.95 Mt at 269 ppm eU₃O₈, using a 100 ppm cut-off. The historical estimate was compiled from internal Rocky Mountain Energy Company reports, summarised in a report titled "Copper Mountain Exploration Project Report" by Southard, G.G., et. al. (1979). Myriad Uranium Corp. holds a 100% interest in the Copper Mountain Uranium Project in Wyoming, USA. Copper Mountain hosts multiple historic uranium deposits and past-producing mines, including the Arrowhead Mine (approximately 500,000 lbs U₃O₈ produced). Union Pacific is estimated to have invested approximately C$125 million (2026 dollars) in the project, generating significant historical resource estimates. Myriad holds a 10% free carried interest in the Red Basin Uranium Project, recently sold to 8VC- and Overmatch-backed Subatomic Industries. Myriad's 100%-owned Breccia Pipe Project in Arizona comprises at least 23 breccia pipes that are prospective for uranium and REEs.

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