British Columbia’s VancouverDecember 5, 2023 (Newsfile Corp.) – The CSE: M, OTCQB: MYRUF, FSE: C3Q, and Myriad Uranium Corp. (hereafter, “Myriad” or the “Company”) are happy to announce that they will be holding a non-brokered private placement with a maximum amount of $500,000 at a price of $0.15 per unit (the “Financing”). One common share and half of a share purchase warrant will make up each unit. After the date of issuance, the holder of each complete warrant will have eighteen (18) months to acquire one common share at a price of $0.25. In conjunction with the Financing, finder’s fees may be paid by the Company.
Per relevant Canadian securities rules, any securities issued under the Financing will be subject to a four-month hold period. The funds from the financing will be used by the company for general operating capital.
Any securities mentioned in this news release are not being offered for sale or solicited for purchase in the United States by means of this announcement. Under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), such securities have not been and will not be registered.
Unless registered under the U.S. Securities Act and applicable state securities laws, or in accordance with an exemption from such registration requirements, may not be offered or sold within the United States, or to or for the account or benefit of persons in the United States or “U.S. Persons,” as such term is defined in Regulation S promulgated under the U.S. Securities Act.
With an earnable 75% stake in the 1,911-acre Copper Mountain Uranium Project in Wyoming, USA, Myriad Uranium Corp. is a uranium exploration firm. Numerous established uranium resources and former uranium mines, such as the Arrowhead Mine, which produced 500,000 pounds of eU3O8, are located in Copper Mountain. Rocky Mountain Energy, a division of Union Pacific, conducted a great deal of drilling and development on Copper Mountain. They also constructed a leach pad and a mining plan for one of the deposits there. Ceasing operations in 1980 prevented mining from starting because of declining uranium prices.
At Copper Mountain, almost 2,000 boreholes have been dug, and there is a lot of untapped exploration potential in the project area. The exploration and development of Copper Mountain is anticipated to have cost Rocky Mountain Energy US$74 million in 2023 dollars. This resulted to the generation of substantial historical resource estimations, which are presented below.
Moreover, Myriad has the option to acquire up to 100% ownership of more than 1,800 km2 of uranium exploration licences in the Tim Mersoï Basin, Niger, of which it now owns 80%.Many of the largest uranium deposits in Africa, such as Orano’s 384 Mlbs eU3O8 Imouraren, are located all around these licences.,