Myriad Uranium's Strategic Geophysical Surveys and Exploration Upside at Copper Mountain and Red Basin

The global uranium market, driven by the resurgence of nuclear energy as a low-carbon power source, is witnessing renewed interest in underexplored legacy districts. Myriad Uranium, a junior explorer with a dual focus on New Mexico's Red Basin and Wyoming's Copper Mountain projects, is leveraging cutting-edge geophysical technologies to unlock high-grade, near-surface uranium targets. By combining historical data with modern airborne and ground surveys, the company is demonstrating exceptional exploration efficiency, positioning itself as a compelling early-stage play in a sector poised for growth.

Red Basin: High-Resolution Geophysics and Shallow Resource Potential

Myriad's Red Basin project in New Mexico exemplifies the power of targeted geophysical surveys in legacy districts. In November 2025, the company completed high-resolution ground radiometric and magnetic surveys, covering 160 line-km of magnetic data and 142 line-km of gamma mapping at 50-meter line spacing completed high-resolution ground surveys. These surveys revealed channel-like features potentially aligned with surface drainage patterns, suggesting subsurface roll-front deposits-a hallmark of permeable sandstone-hosted uranium mineralization revealed channel-like features.

Historical data from the 1950s to 1980s, including drilling by Gulf Oil and Occidental Petroleum, indicates that the Red Basin area could contain up to 45 million pounds of uranium trioxide (U3O8) in channelized deposits extending over a mile in length and hundreds of feet in width indicates the Red Basin area could contain. Myriad's geophysical results are now being used to optimize exploration targeting, with a focus on shallow deposits amenable to low-cost in-situ recovery (ISR) methods being used to optimize exploration targeting. This approach not only reduces capital intensity but also aligns with the industry's shift toward environmentally sustainable extraction techniques.

Copper Mountain: Revisiting Legacy Data with Modern Tools

While Red Basin emphasizes shallow, roll-front deposits, Myriad's Copper Mountain project in Wyoming highlights the potential of deep, structurally controlled uranium mineralization. Historical assessments from the 1980s, conducted by Bendix Field Engineering Corporation for the U.S. Department of Energy, estimated a potential endowment of 245 million pounds of uranium in the Canning Deposit's "Control Area" and 655 million pounds in the broader "Assessment Area" estimated a potential endowment. Myriad and its partner, Rush Rare Metals, control 70% of the Control Area and 29% of the Assessment Area control 70% of the Control Area.

Recent drilling in 2024–2025 has validated and expanded these historical estimates. A 222-borehole exploration program, approved in October 2025, identified uranium mineralization at depths exceeding 1,495 feet-far below the 600-foot limit of previous operators identified uranium mineralization at depths. Notably, borehole CAN0006 returned a peak grade of 8,060 ppm eU3O8, with 30 intervals exceeding 1,000 ppm and 70 new mineralized intervals identified in October–November 2024 drilling returned a peak grade of 8,060 ppm. These results, combined with a helicopter-borne radiometric and magnetic survey covering 191.8 km² in December 2025, are refining targets for future drilling refining targets for future drilling.

The project's geological setting-characterized by steeply dipping structures and unconformity-related mineralization-suggests potential for large, high-grade deposits. Historical Union Pacific drilling from the 1970s, which included 2,000 boreholes, identified seven uranium deposits and numerous prospects with estimated resources of 15.7–30.1 million pounds of eU3O8 identified seven uranium deposits. Myriad's modern drilling is now testing the limits of these historical estimates, with preliminary data indicating the potential to surpass them testing the limits of these historical estimates.

Strategic Implications: Efficiency and Upside in Legacy Districts

Myriad's strategy hinges on the efficient integration of historical data and advanced geophysics. At Red Basin, high-resolution ground surveys are reducing exploration risk by identifying shallow, ISR-friendly targets reducing exploration risk. At Copper Mountain, airborne surveys and deep drilling are unlocking the potential of structurally complex deposits that were previously constrained by outdated exploration methods unlocking the potential of structurally complex deposits. This dual approach not only accelerates resource delineation but also minimizes capital outlays compared to greenfield projects.

The company's market visibility initiatives, including a 12-month marketing program with Machai Capital, further underscore its focus on strategic communication underscore its focus on strategic communication. By aligning technical progress with investor engagement, Myriad is building a narrative of disciplined growth in a sector where exploration success is often undervalued until commercialization.

Investment Thesis: A Dual-Project Play in a Rising Market

With uranium prices supported by global nuclear expansion and regulatory tailwinds, Myriad's dual-project model offers a compelling risk-reward profile. Red Basin's shallow, high-grade potential and Copper Mountain's deep, large-scale endowment provide complementary upside. The use of geophysics to optimize targeting-whether through ground surveys at Red Basin or airborne data at Copper Mountain-ensures that exploration costs remain proportionate to the scale of the targets ensures that exploration costs remain proportionate.

For investors, the key metrics are clear: Myriad is transforming historical data into actionable insights, with recent drilling results at Copper Mountain suggesting a path to NI 43-101 compliant resources suggesting a path to NI 43-101 compliant resources. As the company advances permits and refines its exploration model, the potential for resource upgrades and strategic partnerships grows. In a market where supply constraints are tightening, Myriad's focus on legacy districts with modern tools positions it as a standout early-stage uranium explorer.