Myriad Uranium Announces Further Strong Phase II Drill Results from Copper Mountain

Myriad reports thick, high-grade uranium intervals at Copper Mountain, but results remain preliminary.

What the company is saying

Myriad Uranium Corp. (CSE:M, OTCQB:MYRUF, FSE:C3Q) is highlighting preliminary gamma probe equivalent uranium (eU₃O₈) results from five new boreholes at its 100%-owned Copper Mountain Uranium Project in central Wyoming. The company frames the Phase II drill program as exceeding expectations, emphasizing a 34.29-metre interval grading 399 ppm eU₃O₈ with a peak of 1,511 ppm in hole HES0001BDD, and a highest single value of 1,648 ppm in ARR0003DD. CEO Thomas Lamb positions these results as evidence of potentially one of America's largest uranium endowments and underscores the program’s dual goals: verifying mineralisation underpinning the historical resource estimate of 26.63 Mlbs eU₃O₈ and generating data for a maiden resource estimate. The release stresses that all results are preliminary, derived from downhole radiometric logging and subject to laboratory assay verification with full QAQC protocols. The company is transparent about the limitations of historical resource estimates, stating that a Qualified Person has not classified them as current resources or reserves, and that true widths of intervals have not yet been determined.

What the data suggests

The five-hole, 797.1-metre program intersected mineralisation above 100 ppm eU₃O₈ in four holes, with 22 intervals exceeding this threshold. The standout interval is 34.29 metres at 399 ppm eU₃O₈ from 107.15 m in HES0001BDD, including 20.27 metres at 520 ppm and two sub-intervals above 1,000 ppm (1.22 m at 1,079 ppm and 0.76 m at 1,360 ppm). ARR0003DD returned a peak of 1,648 ppm at 11.6 m. Historical estimates for Hesitation and Arrowhead are 2.20 Mlbs at 250 ppm and 0.47 Mlbs at 700 ppm eU₃O₈, respectively, with Copper Mountain’s total historical estimate at 26.63 Mlbs eU₃O₈ in 48.95 Mt at 269 ppm. The Arrowhead area previously produced 500,000 pounds at 0.15% U₃O₈. The Exploration Target, based on a 1982 Bendix study, is 1,111–2,971 Mt at 100 ppm or 222–594 Mt at 500 ppm eU₃O₈, but these are conceptual and not yet validated by current work. All grades are radiometric equivalents, not chemical assays, and may be affected by borehole and geological factors. The company is clear that true widths are unknown and that laboratory assays are pending, so these results should be treated as indicative but not definitive.

Analysis

The announcement provides detailed and specific preliminary drilling results, including interval lengths, grades, and locations, which are all realised and measurable facts. The tone is positive, but the language remains proportionate to the evidence, with clear caution that results are preliminary and subject to laboratory verification. Forward-looking statements are present, mainly regarding the intent to verify historical resources and generate a maiden resource estimate, but these are framed as objectives rather than achievements. There is no evidence of exaggerated claims about imminent production or economic impact, and the company explicitly notes the limitations of historical estimates and the need for further work. No large capital outlay or immediate financial impact is disclosed, and the operational update is consistent with standard exploration-stage reporting. The gap between narrative and evidence is minimal, as the company avoids overstatement and provides appropriate context for all claims.

Risk flags

• ●All uranium grades are preliminary radiometric estimates and may differ from laboratory assay results due to disequilibrium, borehole conditions, and probe calibration; this introduces uncertainty about the true grade and continuity of mineralisation.
• ●Historical resource estimates for Copper Mountain, Hesitation, and Arrowhead are not compliant with current reporting standards and have not been verified by a Qualified Person, so they cannot be relied upon for investment or development decisions.
• ●Reported mineralised intervals are downhole lengths, not true widths; without knowing the geometry of mineralisation, the actual size and economic potential of the deposit remain unclear.
• ●The company has not disclosed a timeline for laboratory assay results or for advancing to a compliant resource estimate, which could delay investor clarity on project scale and quality.
• ●The Exploration Target is based on a decades-old third-party study and has not been validated by current drilling; relying on these conceptual figures may overstate the project's near-term potential.

Bottom line

Myriad Uranium’s latest drilling at Copper Mountain has delivered thick and locally high-grade uranium intervals, with the best being 34.29 metres at 399 ppm eU₃O₈ and a peak of 1,648 ppm. These results are promising for scale but are preliminary radiometric readings, not yet confirmed by laboratory assays. Historical resource and exploration target figures are large but remain unverified and non-compliant with current standards. The company is transparent about these limitations and the need for further work, but the timeline to a compliant resource and economic assessment is undefined and likely long. Investors should treat these results as early-stage indicators of potential, not as a basis for near-term value realisation. The most important takeaway is that while the technical results are encouraging, confirmation and resource definition will require more time and data.

Announcement summary

(CSE:M) (OTCQB:MYRUF) (FSE:C3Q) Myriad Uranium Corp. announced preliminary gamma probe equivalent uranium (eU₃O₈) results from five boreholes drilled at the Hesitation and Arrowhead deposits at its 100%-owned Copper Mountain Uranium Project in central Wyoming. The Phase II drill program aims to verify mineralisation supporting the historical resource estimate of 26.63 million pounds (Mlbs) eU₃O₈ and to generate modern data for a future maiden mineral resource estimate. Myriad completed two holes at Hesitation and three at Arrowhead, totaling 797.1 metres (2,615 feet) of drilling. Four out of five holes intersected mineralisation above a 100 ppm threshold, with 22 discrete mineralized intervals exceeding 100 ppm eU₃O₈. The longest mineralized interval was 34.29 metres (112.5 feet) grading 399 ppm eU₃O₈ from 107.15 m, with a peak grade of 1,511 ppm in hole HES0001BDD. The highest peak grade intercepted was 1,648 ppm eU₃O₈ in hole ARR0003DD at 11.6 m. Notable intervals include 20.27 metres at 520 ppm and two intersections above 1,000 ppm eU₃O₈. At Hesitation, historical estimates from 1977 reported 4.38 Mt containing 2.20 Mlbs at an average grade of 250 ppm eU₃O₈. At Arrowhead, historical estimates indicated 0.31 Mt containing 0.47 Mlbs at an average grade of 700 ppm eU₃O₈. The overall historical estimate for Copper Mountain is 26.63 Mlbs eU₃O₈ contained in 48.95 Mt at 269 ppm eU₃O₈, using a 100 ppm cut-off. The Arrowhead mine area historically produced approximately 500,000 pounds at an average grade of 0.15% U₃O₈ until 1964. The Exploration Target, based on a 1982 Bendix Field Engineering Corporation assessment, is 1,111 to 2,971 Mt at 100 ppm eU₃O₈ or 222 to 594 Mt at 500 ppm eU₃O₈. Downhole logging was conducted by Century Geophysical using the Uranium E-Log Suite, and uranium grade estimates were calculated using the OREGRADE system. All eU₃O₈ grades are radiometric estimates and will be verified by laboratory assays, including QAQC protocols. The Hesitation deposit is located approximately 400 m (1,300 ft) east of the main Canning deposit, and Arrowhead is approximately 500 m (1,600 ft) west of Canning. Borehole details include HES0001BDD (TD 215.2 m), HES0002DD (TD 163.7 m), ARR0001DD (TD 91.4 m), ARR0002DD (TD 152.4 m), and ARR0003DD (TD 174.3 m). The historical estimates are not current mineral resources or reserves and require re-drilling for verification. The company cautions that reported intervals are downhole lengths and do not represent true widths, which have not yet been determined.

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