Myriad Uranium Reports on Recent Ground Magnetometer Survey at the Copper Mountain Uranium Project, Wyoming

Core Insights - Myriad Uranium Corp. is advancing its exploration efforts at the Copper Mountain Uranium Project, focusing on the Canning Deposit, which has significant historical uranium resource estimates [8][24] - The company has completed a high-resolution ground magnetometer survey that revealed previously unknown magnetic lows potentially related to uranium mineralization, and plans to commence drilling soon [7][9][10] Group 1: Project Overview - Myriad holds a 75% earnable interest in the Copper Mountain Uranium Project, which underwent approximately US$78 million in exploration and development expenditures by Union Pacific during the 1970s [3][24] - Union Pacific drilled over 2,000 boreholes and discovered 7 uranium deposits at Copper Mountain, with estimated resources between 15.7 and 30.1 million pounds of U3O8 [4][24] - The Canning Deposit is the largest historical estimate at Copper Mountain, containing between 8.79 and 19 million pounds of U3O8, and Myriad intends to focus its initial exploration efforts there [5][24] Group 2: Exploration Activities - The recent ground magnetometer survey covered approximately 571 acres and is part of Myriad's maiden 2024 exploration program, with drilling anticipated to start in the coming weeks [8][12] - The survey results are being integrated with historical drilling data to optimize the upcoming drilling strategy, targeting high-grade zones and deeper structures [7][10][11] - Myriad's exploration program aims to convert historical uranium resources into current categories under National Instrument 43-101, leveraging modern analysis techniques [10][11] Group 3: Historical Estimates and Data Interpretation - Historical estimates from Union Pacific are considered relevant but not current under NI 43-101, and Myriad is cautious about relying on these estimates as indicators of current resources [6][18] - The magnetometer survey has improved the understanding of the geological structures believed to control mineralization, indicating potential for higher grades at greater depths than previously explored [15][17] - The company plans to verify historical estimates through digitization of available data, re-logging, and re-drilling to establish current mineral resources [20][22]