Myriad Uranium Issues Stock Options

Vancouver, British Columbia--(Newsfile Corp. - April 11, 2023) - MYRIAD URANIUM CORP. (CSE: M) (OTCQB: MYRUF) (FSE: C3Q) ("Myriad" or the "Company") announced today that it has issued an aggregate of 1,425,000 stock options to directors, officers and consultants of the Company. Each option is exercisable for one common share at an exercise price of $0.31 per share for five years from the date of grant.

The options were granted in conjunction with the adoption by the Company of an amended and restated stock option plan (the "ESOP") under which the maximum number of common shares of the Company issuable is equal to 15% of the number of issued and outstanding common shares of the Company as of each "award date". A copy of the ESOP is available under the Company's disclosure record on SEDAR (www.sedar.com).

Certain directors and officers of the Company received stock options, and such issuance of stock options is considered to be a "related party transaction" as defined under Multilateral Instrument 61-101 ("MI 61-101"). This is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as the fair market value of such issuance of stock options does not exceed 25% of the market capitalization of the Company, as determined in accordance with MI 61-101.

About Myriad

Myriad Uranium Corp. is a Canadian mineral exploration company with a 100% option interest in over 1,800 km² of uranium exploration licences in the Tim Mersoï Basin, Niger. These licences are on-structure and surrounded by many of the most significant uranium deposits in Africa. Myriad also has a 50% interest in the Millen Mountain Property in Nova Scotia, Canada, with the other 50% held by Probe Metals Inc. For further information, please refer to the Company's disclosure record on SEDAR (www.sedar.com), contact the Company by telephone at +1.604.418.2877, or refer to the Company website at www.myriaduranium.com.

Myriad's factsheet is here. A CEO interview with Crux Investor which may be of interest is here.

ON BEHALF OF THE BOARD OF DIRECTORS

Thomas Lamb
President and CEO
tlamb@myriaduranium.com

Mineralization hosted on adjacent or nearby properties is not necessarily indicative of mineralization hosted on the Company's properties. This news release contains "forward-looking information" that is based on the Company's current expectations, estimates, forecasts and projections. This forward-looking information includes, among other things, the Company's business, plans, outlook and business strategy. The words "may", "would", "could", "should", "will", "likely", "expect," "anticipate," "intend", "estimate", "plan", "forecast", "project" and "believe" or other similar words and phrases are intended to identify forward-looking information. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect, including with respect to the Company's business plans respecting the exploration and development of the Company's mineral properties, the proposed work program on the Company's mineral properties and the potential and economic viability of the Company's mineral properties. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: changes in economic conditions or financial markets; increases in costs; litigation; legislative, environmental and other judicial, regulatory, political and competitive developments; and technological or operational difficulties. This list is not exhaustive of the factors that may affect our forward-looking information. These and other factors should be considered carefully, and readers should not place undue reliance on such forward-looking information. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by applicable law.

The CSE has not reviewed, approved or disapproved the contents of this news release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/162026