Mr. Thomas Lamb reports

ENCOURAGING HIGH-PRESSURE SLURRY ABLATION TEST RESULTS AT MYRIAD'S COPPER MOUNTAIN URANIUM PROJECT

Myriad Uranium Corp. has released the results of an initial testing campaign conducted by DISA Uranium Corp. in 2026 with samples from Myriad Uranium. The primary objective of testing was to determine how efficiently DISA's high-pressure slurry ablation technology (HPSA) could concentrate uranium and improve recovery of uranium from the concentrated mass fraction.

Myriad's chief executive officer, Thomas Lamb, commented: "Wyoming's DISA Uranium, in partnership with IsoEnergy and with backing from other uranium industry leaders, has developed a slurry ablation technology, which is potentially tailor-made for Copper Mountain's uraniferous material. Simply put, initial tests confirm that the process can reduce rock mass by about 70 per cent, while producing a threefold increase in grade. More testing will be required at scale, but this is a highly encouraging initial result."

HPSA test results indicate the following:

• Effective particle size reduction (setting up the size-based separation that follows);
• Meaningful reduction of uranium in the clean coarse material achieved (74.5 per cent to 87.9 per cent). Most of the uranium was successfully stripped out of the coarse rock, which is typically discarded as waste;
• 78.8-per-cent reduction in Ra-226 activity and an 83.5-per-cent reduction in Th-230 activity, leaving cleaner waste material for handling and disposal;
• Calculated recoveries of uranium in the fines concentrate were 83.9 per cent (over the first-time interval sample) and 90.6 per cent (over the second time interval sample). This is only a marginal increase in recovery over a longer period of ablation;
• HPSA test results indicate that with minimal particle collisions, the process concentrated 83.9 per cent of the uranium into 29.3 per cent of the overall mass, that is a roughly 70 per cent reduction in mass requiring further processing, while keeping most of the uranium;
• Improved recovery of the concentrated mass fraction, leaving a cleaner coarse (waste) fraction. More uranium ends up in the small concentrate stream, and what is left over (the coarse material) is correspondingly cleaner/lower grade, meaning less material requiring further processing;
• Early leach testing by Hazen Research (1976) for Union Pacific found greater than 92 per cent uranium recovery (with most samples greater than 96 per cent) using a dilute sulphuric acid leach. This, combined with a preconcentration method such as HPSA, could result in significant overall reduction in beneficiation costs.

DISA Uranium's HPSA methodology and results

Myriad provided approximately 50 kilograms of sample material from its 2024 drilling campaign at Canning to DISA Uranium for HPSA testing. The HPSA process involves the collision of two slurry streams at high pressures to liberate minerals from gangue material for recovery in the fines concentrate. As particles collide at high velocities inside the HPSA collision chamber, they fracture at their natural grain boundary lines, which allows minerals to be liberated and recovered. Samples were collected at various time intervals in the unit to show increased liberation and recoveries over time.

The objectives of testing were to:

• Provide elemental analysis before and after HPSA processing;
• Analyze uranium and overall mass shifts at different collision intervals throughout HPSA processing;
• Determine elemental recoveries in the minus 53-micrometre size fraction post-HPSA processing.

The composite sample was subjected to initial material characterization to determine particle size distribution (PSD), ICP-MS for uranium and radionuclide activity analysis for Ra-226 and Th-230. This was followed by HPSA testing in a batch-style HPSA unit under set parameters and variable testing times. Collected samples were then characterized by a PSD and ICP-MS for uranium. The elemental analysis by ICP-MS for uranium and radionuclide activity analysis for Ra-226 and Th-230, was performed by a third party laboratory (Energy Labs).

ICP-MS results indicated that the total percent reduction of uranium concentration ranged from 74.5 per cent to 87.9 per cent; the total per cent recovery to the fines concentrate ranged from 83.9 per cent to 90.6 per cent. At the first time interval, 83.9 per cent of the uranium was recovered in 29.3 per cent of the mass. At the second time interval, the recovery of uranium increased by 6.72 per cent, with an additional 8.19 per cent of the mass in the fines concentrate relative to first (Table 1).

The radionuclide activity analysis indicated successful reduction in contaminants in the clean coarse material. For time sample 1, the per cent reduction of Ra-226 activity was 78.8 per cent and the per cent reduction of Th-230 activity was 83.5 per cent.

Conclusion

The results of the testing campaign indicated that HPSA processing was successful in uranium liberation and recovery. Meaningful size reduction was also achieved. The per cent reduction of uranium in the clean coarse material ranged from 74.5 per cent to 87.9 per cent. Meaningful reduction in radionuclide activity was also achieved. Significant amounts of uranium were recovered in the fines concentrate. ICP-MS indicated that HPSA technology was able to concentrate 83.9 per cent of the uranium in 29.3 per cent at the first time interval, and 90.6 per cent of the uranium was concentrated in 37.5 per cent of the mass at the second time interval sample. Uranium concentration in the fines concentrate was found to increase with additional turnovers. Results of a full-scale operation are expected to align closely with the first time interval taken from the laboratory batch system, but this can easily be engineered and optimized depending on target recoveries and mass pull.

This testing demonstrated that the HPSA technology can improve the recovery of uranium for the material provided by Myriad Uranium. Future testing would be beneficial to continue to optimize and improve selective liberation of the uranium particles for increased recovery.

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, PrSciNat, FGSSA, a qualified person as defined under National Instrument 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 holds a 100-per-cent interest in the Copper Mountain uranium project in Wyoming, United States. Copper Mountain hosts multiple historic uranium deposits and past-producing mines, including the Arrowhead mine (approximately 500,000 pounds 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 $125-million (2026 dollars) in the project, generating significant historical resource estimates.

A news release detailing a comprehensive assessment of Copper Mountain's uranium endowment by Bendix Engineering for the United States Department of Energy published in 1982.

Myriad holds a 10-per-cent 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.

Myriad's 100-per-cent-owned Breccia Pipe project in Arizona comprises at least 23 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 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.

We seek Safe Harbor.