Mr. Peter Smith reports

RUSH RARE METALS PROVIDES UPDATE RESPECTING MERGER WITH MYRIAD URANIUM CORP.

Rush Rare Metals Corp. has filed a management information circular and related materials for Rush's annual general and special meeting of shareholders at which, among other things, the Rush shareholders will be asked to consider and vote on a special resolution, under which Myriad Uranium Corp. will acquire 100 per cent of the issued and outstanding common shares of Rush.

The meeting is scheduled to take place on Aug. 17, 2026, at 10 a.m. (Pacific time) at suite 605, 1125 Howe St., Vancouver, B.C. Mailing of the circular and related meeting materials has commenced and Rush shareholders should receive them shortly. The meeting materials can also be downloaded from Rush's issuer profile on SEDAR+. For the arrangement to become effective, the arrangement resolution must first be approved at the meeting by the affirmative vote of at least two-thirds (66.66 per cent) of the votes cast by Rush shareholders. The board of directors of Rush unanimously recommends that Rush shareholders vote for the arrangement resolution.

On Feb. 13, 2026, Myriad and Rush entered into an acquisition agreement and an arrangement agreement dated as of Feb. 13, 2026, respecting the arrangement. Under the arrangement, Myriad will acquire all of the Rush shares by issuing one Myriad common share for every 1.85 Rush shares issued and outstanding, resulting in an exchange ratio of one Rush share to 0.5405 Myriad share (the exchange ratio). In addition, all of Rush's convertible securities will be replaced with Myriad convertible securities exercisable for Myriad shares, with appropriate adjustments made to reflect the exchange ratio under the arrangement.

Peter Smith, Rush's chief executive officer, said: "Preliminary congratulations to management and shareholders for both Rush and Myriad for a highly successful collaboration as well as the impending merger. We've taken what was originally a small block of claims focused on the historic Arrowhead uranium mine, and through the serendipitous discovery of some highly valuable historical data, some strategic and timely expansions of the claim area, and some very successful early drilling and geophysical work, have turned Copper Mountain into one of North America's largest and most exciting uranium exploration projects. A special recognition to the Rush board, including Brad Newell, who first recognized the opportunity and was a critical early voice encouraging us to acquire the original claims, as well as to David Miller, who was part of the original vending group, guided us in our early land package additions, and also provided invaluable help in finding much of the early historical data we've relied on. Moreover, Rush directors Fabiana Lara and Tony Ricci were critical in guiding Rush in our collaboration with Myriad, as well as through the current merger process. Finally, I'd like to thank the Myriad team and Thomas Lamb in particular, whose unwavering dedication and perseverance at Copper Mountain has ultimately resulted in unlocking tremendous value. We at Rush are all thrilled with the progress Myriad has made, and feel the project is in excellent hands going forward. Through this merger, we believe Rush shareholders will greatly benefit, ultimately as Myriad shareholders, from a unified ownership of Copper Mountain, as well as from the outstanding abilities and demonstrated track-record of the Myriad team."

Rush has incorporated a subsidiary, 1577075 B.C. Ltd. (Rush Spinco), to which Rush has transferred all of its right, title and interest in and to its Boxi property in Quebec and has financed $100,000 to support the formation or capitalization of Rush Spinco. As part of the arrangement, Rush shareholders will receive one Rush Spinco share for each four Rush shares issued and outstanding, in addition to the Myriad shares they will receive under the arrangement. Myriad's focus is wholly on achieving 100-per-cent ownership of Copper Mountain uranium project in Wyoming and continuing to unlock its value as quickly and efficiently as possible.

Closing of the transaction remains subject to a number of conditions, including approval of the Rush shareholders, approval of the British Columbia Supreme Court, approval of the Canadian Securities Exchange, standard closing deliverables and other customary conditions typical for transactions of this nature. Following completion of the transaction, Rush will become a wholly owned subsidiary of Myriad and will be delisted from the CSE. The transaction does not require approval of Myriad shareholders.

About Rush Rare Metals Corp.

Rush Rare Metals is a mineral exploration company focused on its Boxi property located in the province of Quebec, Canada. Rush also owns the Copper Mountain project located in Wyoming, United States, which it has optioned to Myriad Uranium Corp. Rush currently has a 100-per-cent interest in the Boxi property and a 25-per-cent interest in the Copper Mountain project.

We seek Safe Harbor.