Myriad Uranium Corp
Primary ticker: CSE: M, OTCQB: MYRUF, FRA: C3Q
Stage of development: Exploration
Primary minerals: Uranium
Project to promote: Uranium in Wyoming
Project location: Wyoming
Website: myriaduranium.com
Myriad Uranium Corp. holds a 75% earnable interest in the Copper Mountain Uranium Project, which saw US$78m (2024$) in expenditures by Union Pacific during the 1970s. Union Pacific drilled 2,000 boreholes, discovered 7 uranium deposits, and developed a 6-pit mine plan, estimating resources of 15.7 to 30.1 Mlbs eU3O8 with known and speculated targets >65 Mlbs. Estimates are historical and not current under NI 43-101. Myriad Uranium intends to bring estimates current focusing on the ‘High Grade Zone’, which hosts the largest estimated historical resources.
Financials
Management Profile
Thomas Lamb – CEO
Thomas Lamb has 20 plus years of mineral sector and pubco experience, many of those specific to exploration in Africa. He co-founded M2 Cobalt (sold to Jervois Global), Goldgroup, Rift Copper, and J2 Metals. He is a former Jervois executive, and speaks French, English and Russian. He is a graduate of London Business School, holding MSc, JD, and BA degrees.
What is your rationale for taking part in 121 Mining Investment?
We want to increase awareness of Myriad, since we recently acquired interest in our Wyoming project. We will have new developments to announce at and before 121.
What recent news would you like to highlight to investors attending?
Myriad Uranium Corp. (CSE: M) (OTCQB: MYRUF) (FSE: C3Q) (“Myriad” or the “Company“) is pleased to announce the results of a ground magnetometer geophysical survey completed at the Canning Deposit which is located at the centre of the Copper Mountain Uranium Project, covering approximately 4,200 acres in Wyoming, U.S.A. The completed ground magnetometer survey is part of Myriad’s maiden 2024 exploration program. Next comes exploration drilling, which the Company anticipates will commence in the coming weeks. The Copper Mountain Uranium Project contains numerous historical estimates of uranium deposits, past-producing uranium mines, exploration targets, and advanced prospects (see Figures 1 and 2 below).
Myriad is planning a maiden exploration drill program targeting the Canning Deposit to confirm, and if possible, expand upon the historical drilling and historical resource estimates. Historical drilling data and results from the recent ground magnetometer survey are being combined to optimise the Company’s drilling strategy.
What are your key goals in 3 months, 6 months, 12 months?
3 Months:
(1) Increase awareness of Myriad Uranium;
(2) Begin drilling at Copper Mountain
(3) complete our anticipated private placement
(4) complete acquisition of targeted acreage
6 Months:
(1) Publish drill results and work towards maiden resource estimate
(2) enhance investor awareness
12 Months:
Announce a significant discovery and continue drilling at Copper Mountain
What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?
We have interest in a high potential uranium asset, and we have a strong technical and management team; this will help us deal with the ordinary operational and market condition challenges that are part of our business. Also, the US and specifically Wyoming’s government is highly supportive and the country has a large pool of uranium sector talent we can access.
What do you think makes your company such a compelling investment?
Myriad is advancing a very exciting uranium project located in Wyoming, USA. The project saw an enormous expenditure of money and resources by Union Pacific throughout the 1970s (upwards of US$74 million in 2023 dollars). The project was nearly “mine ready” in 1979 when the Three Mile Island accident occurred and America’s uranium sector more or less dissolved. Now uranium is back, with prices near 16-year highs. Not only are prices rising fast, there is a massive bipartisan push to ensure America’s nuclear fuel independence, leading to a flood of capital (and M&A attention) into Wyoming, the historic centre of America’s uranium sector.
Ownership of our project is now unified — for the first time since 1981 — and we are getting to work leveraging Union Pacific’s 2,000 boreholes, leachability test work (~90s% with no mill), and ISR test work (we’re cautiously optimistic). This project also has very exciting exploration potential.
We have a strong technical team, very tight share structure, strong cash balance, and supportive shareholders. We believe we will re-rate significantly upwards once we have increased awareness.
What are the top 3 key investor takeaways?
1) Recently the U.S. has committed to repatriating uranium production and reactor fuel manufacturing. (H.R.1042 – Prohibiting Russian Uranium Imports Act) “This new law re-establishes America’s leadership in the nuclear sector.”
2) As a result, new, massive investment in the U.S. uranium industry is incoming. It will be in large part centered on Wyoming. The uranium price is forecast to rise significantly from here.
3) Myriad holds an earnable 75% interest in the Copper Mountain Uranium Project in Wyoming.