Myriad Provides Update Regarding the Recent Situation in Niger and Its Ongoing Geophysics Program
Vancouver, British Columbia--(Newsfile Corp. - July 27, 2023) - MYRIAD URANIUM CORP. (CSE: M) ("Myriad" or the "Company") announces that Myriad personnel are safe and operations have been unaffected by yesterday's coup d'etat in Niger. The Company's current high resolution magnetometer and magnetotellurics (AMT) surveys along the Azouza fault within the Afouday licence continue uninterrupted. 2,452 kilometres of 50m-spaced magnetometer lines have been flown, with an additional 517 line-kilometres planned at Afouday before we pause on or before August 10th.
Myriad's CEO Thomas Lamb stated "We strongly echo the recent statements of our fellow Canadian companies Goviex and Global Atomic regarding Niger: We believe in the potential of the country and its people. We remain dedicated to contributing to its social and economic development. Niger has been a pro-mining country for over 5 decades, and despite periodic changes in government, has never experienced an interruption in its uranium mining activities. This long-standing stability in the mining sector is a testament to the country's resilience and its commitment to development. Myriad hopes for a quick and peaceful resolution of the current situation and reaffirms its commitment to Niger and its people.
Our teams in the capital Niamey and in the field near Agadez report that the situation is calm, that their work is uninterrupted, and that ongoing geophysics work is generating highly promising data along the Azouza Fault within the Company's Afouday licence. This area within Afouday was the focus of particular attention by Areva. They drilled relatively shallow holes around but not into the fault, and then shot seismic lines which indicated potential untested uranium traps. Again, they never tested the Azouza fault itself and these potential traps, which is exactly what Myriad intends to do. The French ran out of time to emulate nearby Global Atomic.
We note that the rainy season has commenced which can reduce line-kilometre production and will result in us pausing on approximately August 10th, but the data being produced is even better and more compelling than we'd expected. We are as excited as ever about our potential to make world-class discoveries near Dasa and Imouraren."
Myriad Uranium Corp. is a Canadian mineral exploration company with 100% option interest in over 1,800 km2 of uranium exploration licenses in the Tim Mersoï Basin, Niger. These licenses are surrounded by many of the most significant uranium deposits in Africa, including Orano's 384 Mlbs eU3O8 Imouraren, Global Atomic's 236 Mlbs Dasa, and Goviex's 100 Mlbs Madaouela, and on the same fault structures. 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.sedarplus.ca), contact the Company by telephone at +1.604.418.2877, or refer to the Company website at www.myriaduranium.com.
President and CEO
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/175195