Myriad Now Holds 80% Interest in Niger Properties
Vancouver, British Columbia--(Newsfile Corp. - August 31, 2023) - MYRIAD URANIUM CORP. (CSE: M) (OTCQB: MYRUF) (FSE: C3Q) ("Myriad" or the "Company") announces that Loxcroft Resources Ltd. has waived the Company's obligation to incur additional exploration expenses to earn an 80% interest in over 1,800 km2 of uranium exploration licenses in the Tim Mersoï Basin, Niger (the "Niger Projects"), and therefore Myriad now holds an 80% interest in the Niger Projects. The Niger Projects are surrounded by many of the most significant uranium deposits in Africa and are located on the same fault structures as Orano's 384 Mlbs eU3O8 Imouraren, Global Atomic's 236 Mlbs Dasa, and Goviex's 100 Mlbs Madaouela.
Myriad's CEO Thomas Lamb stated, "Since August 2022 when we executed our option agreement, Loxcroft has been our steadfast partner in Niger, sharing our commitment to the country and our conviction that we have a real chance at making one or even several world-class uranium discoveries there. This gesture by Loxcroft eliminates almost $1.7 million in spending requirements and transforms us from optionholder into an 80% owner. It's an enormous boost. Myriad has another 5 years to earn up to 100% of the Niger Projects."
He continued, "Niger has produced and exported uranium uninterrupted for over 50 years, through numerous changes of government. The sector provides much-needed employment and revenue streams for the country. In due course the political situation will stabilise and we and our fellow participants in the minerals sector will continue investing in the country. We reaffirm our commitment to Niger and its people."
Please refer to the Company's August 17, 2022 news release for details regarding the option agreement between Myriad and Loxcroft.
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.sedar.com), 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.
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