In the wake of growing energy security concerns and the push for domestic uranium production in the United States, Myriad Uranium Corp. has positioned itself at the forefront of this critical industry shift. With its strategic interest in the Copper Mountain Uranium Project located in Wyoming, Myriad aims to capitalize on the project's historical significance and untapped potential. The company's experienced leadership and technical team are set to navigate the complexities of uranium exploration, leveraging both historical data and modern geological insights.
The Copper Mountain district in Wyoming, spanning approximately 3,000 acres, represents a significant opportunity in uranium mining, reflecting a rich history and a promising future within the United States' broader uranium mining revival. From 1955 to 1970, the Arrowhead Mine, located at the heart of this project area, was a productive uranium site, yielding around 500,000 pounds of eU3O8. Today, with the United States and Wyoming exhibiting strong bipartisan support for uranium mining, the district's potential is being reevaluated and expanded upon with renewed interest and investment.
Central to the Copper Mountain district is the Canning Deposit, a site of considerable historical investment by Union Pacific until the Three Mile Island incident halted progress. The area, now known for its extensive exploration including over 2000 drill holes, alongside other historic uranium deposits, falls within or is in the process of being incorporated into the claims held by the project. A critical development in understanding the area's potential came with the completion of a 43-101 Technical Report in March 2023, which highlighted not only the known mineralization at the Arrowhead Mine and North Canning Deposit but also underscored the district's past production success. This report, along with newly acquired data revealing historic resource estimates and mine plans, sets the stage for a comprehensive exploration and development strategy.
The district's geology is notably diverse and uranium-rich, featuring both hard rock and sandstone potential. The presence of high-grade uranium in episyenite, alongside mineralization associated with amphibolite schists and long-lived structural features, suggests significant untapped potential. These geological characteristics, combined with historical and new data, point towards the likelihood of discovering world-class uranium deposits within the project's scope.
The district's geology is notably diverse and uranium-rich, featuring both hard rock and sandstone potential. The presence of high-grade uranium in episyenite, alongside mineralization associated with amphibolite schists and long-lived structural features, suggests significant untapped potential. These geological characteristics, combined with historical and new data, point towards the likelihood of discovering world-class uranium deposits within the project's scope.
The recent acquisition of a trove of historical data, including detailed resource estimates and mine plans from a subsidiary of Union Pacific, has further enriched the project's resource base. These documents suggest that the Copper Mountain district could hold between 15.7 and 63.8 million pounds of eU3O8, with several sites already demonstrating their suitability for heap leach mining and possibly in-situ recovery (ISR) methods. Myriad Uranium Corp.'s strategy to explore the possibility of open-pit mining operations, supported by a central processing facility, reflects an ambitious approach to leveraging the district's "brownfield" exploration potential for significant uranium discoveries.
The strategic partnership between Myriad Uranium Corp. and Rush Rare Metals, formalized through a Property Option Agreement, underscores the commitment to advancing the project. This agreement, which allows for a progressive earn-in to the project based on investment milestones, coupled with joint venture arrangements upon fulfillment of these conditions, represents a forward-looking approach to resource development. The collaboration aims not only to explore and potentially develop the rich uranium resources within the Copper Mountain district but also to contribute to the revitalization of the U.S. uranium mining sector, aligning with national interests and energy security objectives.
In summary, the Copper Mountain Uranium Project stands as a beacon of potential in the uranium mining industry, buoyed by historical production success, robust geological data, and strategic partnerships. Its development aligns with both the resurgence of interest in nuclear energy and the strategic emphasis on domestic uranium production, positioning the project as a key player in meeting future energy demands.
Myriad Uranium Corp's leadership and technical expertise are spearheaded by a diverse group of professionals within its Management, Board of Directors and Technical Committee, ensuring a broad range of skills and experiences to guide the company's strategic direction and technical operations. Highlighted individuals include:
CEO, Thomas Lamb, an alumnus of London Business School, boasts an impressive educational background with MSc, JD, and BA degrees. He brings over two decades of public company experience, particularly in African exploration, to the table. Lamb has co-founded several ventures, including M2 Cobalt (which was acquired by Jervois Global), Goldgroup, Rift Copper, and J2 Metals, and has previously held an executive position at Jervois. He is multilingual, fluent in French, English, and Russian. Lamb also emerges as the second-largest shareholder on NOBO, consistently investing in every funding round.
Senior Geologist, George van der Walt, stands out as a distinguished Senior Economic Geologist, boasting an extensive background in uranium exploration and development. Notably, he spearheaded the exploration and development efforts for Peninsula's expansive Karoo uranium project in South Africa. His expertise spans a broad spectrum of geological formations, including the Bushveld Complex PGE-Cu-Ni, lithium, and rare metal pegmatites. Presently, he occupies the pivotal role of Head of Exploration Services at The MSA Group. This esteemed multinational consulting firm maintains a strong presence across the globe, with offices located in South Africa, Egypt, Saudi Arabia, and Kazakhstan.
ISR / ISL Uranium Expert, David Miller is an experienced economic geologist and former politician from Wyoming, with a specialization in uranium exploration, development, and mining. Throughout his distinguished career, he has held key positions at leading companies such as Utah International, Areva, and Strathmore Minerals, serving as CEO at the latter. Renowned in the nuclear and energy sectors, particularly for his expertise in ISR/ISL uranium extraction techniques, Miller has been quoted as a uranium authority by major media outlets including the New York Times, BBC, CNBC, and CNN.
The stock is listed on three different exchanges, enhancing its accessibility to a wide range of investors globally. It trades on the Canadian Securities Exchange (CSE) under the symbol "M," on the Over-The-Counter (OTC) markets in the United States with the ticker "MYRUF," and on the Frankfurt Stock Exchange (FRA) under "C3Q." This multi-exchange listing allows the company to tap into diverse investment pools across North America and Europe, offering varied opportunities for investor engagement.
Myriad stands out for its low share count and significant insider ownership, with insiders holding 46% of shares. The CEO, notably the second-largest shareholder on the NOBO list, consistently invests in every funding round. A top-3 global uranium trading house also holds a stake in the company, adding to its credibility. The management team is well-regarded for their history of successfully building and selling companies, while the technical team is recognized for their leadership and expertise in their respective fields.
Myriad is dedicated to preserving shareholder value through minimal dilution, ensuring a robust and tightly held share structure without resorting to the issuance of undervalued stock, maintaining a low float. The current composition of our capital includes 34.2 million shares issued and outstanding, complemented by 5.1 million options and 11.9 million warrants, culminating in a total of 51.2 million shares when fully diluted.
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