Vancouver, British Columbia--(Newsfile Corp. - October 7, 2026) - Myriad Uranium Corp. (CSE: M) (OTCQB: MYRUF) (FSE: C3Q) ("Myriad" or the "Company") announces that it has terminated its option agreement with Wedgemount Resources Corp. ("Wedgemount") relating to the Company's Arizona Breccia Pipe Project, executed on June 9, 2026, re-assuming 100% ownership of the portfolio of 24 individual breccia pipe prospects.

The breccia pipes share key geological characteristics with Energy Fuels' nearby Pinyon Plain Mine, which is often described as the highest-grade and most profitable uranium mine in the United States. They are the same solution-collapse breccia pipe deposit type, lie in the same district and are hosted in the same Colorado Plateau sedimentary sequence. There can be no assurance that any of the pipes will match the performance and social licence of Pinyon Plain.

"But of course it is our hope that one or more of our Arizona breccia pipes will match Pinyon Plain," commented Thomas Lamb, Myriad's CEO. "Several already boast high-grade historical intercepts, and one, the Wate Pipe, formerly held by Energy Fuels, carries a compelling historical inferred resource estimated by SRK in 2015. Energy Fuels' 2026 10-K refers to Wate as one of its pipeline projects; however, Myriad has now acquired the State lease covering Wate."

Highlights:

• Termination of the Wedgemount option returns 100% control of the Arizona Breccia Pipe Project to Myriad, with no consideration payable by either party. Myriad now better understands the Breccia Pipe Project's high grade and district scale potential.

• Adding the high-grade Arizona Breccia Pipe Project will provide Myriad with an additional pathway to deliver high-value, 100% owned U.S.-based uranium projects. This high-grade, capital-light opportunity will complement the Company's Copper Mountain Uranium Project in Wyoming, which has the potential to develop into a large-scale district play.

• The Breccia Pipe Project comprises 18 State Mineral Leases and 8 Split-Estate Mineral Claims totalling 6,080 acres and hosts 24 breccia pipe prospects.

• Energy Fuels' Pinyon Plain Mine, in the same district, targets the same style of breccia pipe mineralization and, according to Energy Fuels, is the highest-grade uranium mine in the United States.

• The Wate Pipe's 2015 historical inferred estimate of 71,000 tons at 0.79% eU₃O₈ (1.12 million lb) is comparable in scale to the initial 2012 inferred resource at Energy Fuels' Pinyon Plain (then the Canyon Mine) of 83,000 tons at 0.98% eU₃O₈ (1.63 million lb). Energy Fuels reports that actual mining at Pinyon Plain has exceeded its original projections. Pinyon Plain's results, including uranium mineralizsation and social licence, are not necessarily indicative of the outcome at the Wate Pipe. The Wate estimate is historical and not current under National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") (see "About the Wate Breccia Pipe Historical Resource Estimate" below).

• Several other pipes in the portfolio were drilled historically. Myriad knows the locations of many of the historical drill collars and has retained as a consultant a geologist who helped drill many of these holes in the 2000s.

• Next steps include modern geophysical and radiometric surveys, calibrated against historical drill holes and known resources, to build a portfolio of drill targets ahead of drilling. Breccia pipe mineralization is often high grade but can be highly localized, and Myriad believes these signatures will help it rank existing drill targets and identify new ones ahead of drilling.

Mr. Lamb continued: "Our breccia pipes have the potential to combine high grades, a small surface footprint, additional copper and REEs, and a capital-light path to development. Geophysics, social engagement, permitting, and drilling are all planned. We see the makings of a district-scale uranium play and a strong complement to our Copper Mountain Uranium Project in Wyoming, where Union Pacific drilled roughly 2,000 holes and planned a large-scale mine before the 1980 market downturn. Copper Mountain may have America's largest endowment of uranium. Endowment is not an NI 43-101 term, by the way."

Regional Geological Context and Nearby Operations

The Wate Pipe and the other targets in the Breccia Pipe Project are located in northern Arizona within the same regional district as Energy Fuels' Pinyon Plain Mine and are interpreted to be of the same breccia pipe-hosted uranium deposit type.

• Geological characteristics: The targets are all solution collapse breccia pipe uranium deposits, which are vertical cylindrical bodies of broken sedimentary rock (breccia) dropped down into caverns in underlying massive limestone on the Colorado Plateau. Uraninite, a reduced uranium ore mineral, accumulates within the permeable column of broken rock.
• Nearby operation: Pinyon Plain is an active uranium mining operation in the same district. Myriad considers the presence of an operating mine and regional processing infrastructure to be relevant for contextual information only. Energy Fuels' pre-feasibility study for Pinyon Plain outlined pre-mining reserves averaging 0.58% eU₃O₈, and Energy Fuels reports that actual mining results have exceeded those projections. In 2025, Pinyon Plain mined ore containing approximately 1.53 million pounds of U₃O₈ at an average grade of approximately 1.62% eU₃O₈. In the first half of 2026, it mined approximately 625,000 pounds at an average grade of approximately 0.91% U₃O₈, with total mining, transport and milling costs of approximately US$23 per pound recovered in Q2 2026 (see Energy Fuels news releases dated February 26, 2026 and August 5, 2026).
• Historically reported uranium mineralization: Wate's 2015 (SRK) historical estimate grade averaged 0.79% eU₃O₈ (historical, not current under NI 43-101; see details below). In addition, several other pipes are known to have been drilled and encountered mineralization.
• Depth and geometry: Arizona breccia pipes are typically mineralized between 1,000 and 1,800 feet depth, particularly at the level of the Hermit Shale, with a vertical extent of up to 600 feet and pipe diameters of 200 to 400 feet. Wate's mineralization was confirmed from 1,300 to 1,600 feet depth. Pinyon Plain's shaft extends to approximately 1,470 feet. Arizona breccia pipe deposits are commonly developed using underground access methods with relatively limited surface disturbance, although no current mining study has been completed by Myriad for the Wate Pipe.
• Low surface footprint: Breccia pipe deposits typically require less than 20 acres of surface disturbance, an advantage from environmental permitting and community relations perspectives. The Wate project previously held a mineral exploration permit on Arizona State lands, with an application filed to convert it to a mining lease. Myriad has not independently verified the current status of those historical permits or applications. Note that project-specific development methods and impacts would depend on future technical and permitting work.
• Access to infrastructure: The Project is located in northern Arizona with access to established infrastructure, including the Kaibab National Forest road network, and proximity to Energy Fuels' White Mesa Mill in Utah, the only operating conventional uranium mill in the United States.
• REE potential: Published technical literature (e.g. Wenrich, 2018) has noted the presence of rare earth element enrichment in some northern Arizona breccia pipe systems. Myriad has not completed sufficient work to determine the extent or economic significance of any REE mineralization on the Project.

Note: The nearby Pinyon Plain Mine is referenced for regional geological context only. Mineralization, grades, production and results on nearby properties are not necessarily indicative of mineralization on the Project. References to REE potential are based on published literature regarding some northern Arizona breccia pipe systems and not on current NI 43-101-compliant mineral resource estimates or economic studies for the Project.

About The Wate Breccia Pipe Historical Resource Estimate

The Breccia Pipe Project's principal asset is the Wate Pipe, a deposit formerly held by Energy Fuels Inc.

• SRK Consulting ("SRK") reported a historical inferred mineral resource estimate for the Wate Pipe of approximately 71,000 short tons containing 1.12 million pounds eU₃O₈ at an average grade of 0.79% eU₃O₈. This estimate is historical in nature and is not current under NI 43-101.
• The source of the historical resource estimate is a Technical Report titled "NI 43-101 Technical Report on Resources Wate Uranium Breccia Pipe - Northern Arizona, USA" prepared for Energy Fuels by SRK, dated March 10, 2015.
• The QP considers the historical estimation work completed by SRK to be reliable and considers the historical estimate to be relevant as exploration guidance.
• SRK determined that there was sufficient drillhole information to allow for definition of mineralized shapes for the mineralization. SRK modeled the mineralization in four discrete zones within the Wate Pipe and completed resource estimation by industry standard procedures that are compliant with CIM definitions for NI 43-101 reporting.
• SRK classified the estimate as "Inferred" according to the CIM Definitions and Standards (2014).
• There are no more recent estimates for this deposit.
• Data verification will be required to confirm the basis of the historical resource estimate and to determine whether it can be restated as a current mineral resource estimate compliant with CIM definitions for NI 43-101 reporting. If the original data is not available, additional drilling and sampling may be required.

Note: Myriad believes the historical estimate at Wate and prior drilling on certain targets indicate that the district warrants further exploration. A Qualified Person under NI 43-101 has not done sufficient work to classify the historical estimate as a current mineral resource or mineral reserve, and Myriad is not treating the historical estimate as current. Myriad intends to conduct further work to determine whether the historical estimate can be verified and, if appropriate, supported by a current mineral resource estimate.

Qualified Person

The scientific and technical information in this news release, including the eU₃O₈ methodology and historical disclosure, has been reviewed and approved by George van der Walt, MSc., Pr.Sci.Nat., FGSSA, a "Qualified Person" as defined under NI 43-101. Mr. van der Walt is a Principal Consultant with The MSA Group (Pty) Ltd, an independent consultancy, and is independent of the Company for the purposes of NI 43-101. A Qualified Person has not done sufficient work to verify historical exploration results or to classify the historical estimates referred to in this news release as current mineral resources or mineral reserves, and Myriad is not treating such historical estimates as current mineral resources or mineral reserves.

About Myriad Uranium Corp.

Myriad Uranium Corp. holds a 100% interest in the Copper Mountain Uranium Project in Wyoming, USA. Copper Mountain hosts multiple historic uranium deposits and past-producing mines, including the Arrowhead Mine (approximately 500,000 lbs U₃O₈ produced). Union Pacific conducted extensive exploration and development in the district during the late 1970s, including approximately 2,000 boreholes and advanced mine planning, before the uranium market downturn in 1980. Union Pacific is estimated to have invested approximately C$125 million (2026 dollars) in the project, generating significant historical resource estimates.

The Company's NI 43-101 Technical Report on Copper Mountain can be viewed here.

Myriad holds a 10% free carried interest in the Red Basin Uranium Project, recently sold to 8VC- and Overmatch-backed Subatomic Industries. Red Basin carries significant historical resource estimates from extensive drilling by Occidental Oil in the late 1970s, and also hosts vanadium, which has been designated a strategic and critical mineral by the U.S. government. Note the caution on historical estimates below.

Myriad's 100%-owned Arizona Breccia Pipe Project comprises at least 24 breccia pipes that are prospective for uranium and REEs. One of the pipes, the Wate Pipe, was previously owned and explored by Energy Fuels and is the subject of a historical resource estimate.

Note: A Qualified Person has not done sufficient work to classify the Copper Mountain, Red Basin, and Arizona Breccia Pipe Project historical estimates as current mineral resources or reserves and Myriad is not treating historical estimates as current resources or reserves. Myriad intends to conduct further work to determine whether the historical estimates can be verified and, if appropriate, supported by current mineral resource estimates.

Forward-Looking Statements

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. In particular, forward-looking information in this news release includes statements regarding the Company's plans for geophysical and radiometric surveys, permitting, community engagement and drilling on the Arizona Breccia Pipe Project; the use of historical drill data to generate drill targets; the potential for uranium, rare earth element and copper mineralization on the Project; the verification of historical estimates; and the effects of the termination of the Option Agreement. 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: inability to verify historical data, no assurance of defining mineral resources, permitting, drilling delays and 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/317789

Source: Myriad Uranium Corp.