Myriad Uranium (CSE:M) - From Historical Data to Drill-Confirmed Resource: The Phase 2 Plan

Interview with Thomas Lamb, CEO, Myriad UraniumOur previous interview: https://www.cruxinvestor.com/posts/myriad-uranium-corp-csem-radiometric-breakthrough-expands-drill-plans-9453Recording date: 6th May 2026Myriad Uranium is advancing a strategic shift from historical resource estimation to active development at its flagship Copper Mountain project in Wyoming, following the release of a comprehensive NI 43-101 technical report. The report confirms a 27 million pound historical uranium resource and highlights a much larger 655 million pound uranium endowment identified by U.S. Department of Energy assessments, establishing a strong foundation for future growth.The company is launching a 4,500-meter Phase 2 drilling program aimed at validating historical data and expanding known deposits. This program will focus on seven previously identified deposits, peripheral targets with limited past drilling, and entirely new zones identified through recent geophysical surveys. A key factor underpinning potential upside is radioactive disequilibrium, which historically caused uranium grades to be underestimated. Modern assay techniques suggest grades could be 20–60% higher than previously recorded, with possible extensions in mineralized intervals.Financially, Myriad is strengthening its position through the sale of a 90% stake in its Red Basin project in New Mexico for $2.5 million USD, while retaining a 10% carried interest. The deal, backed by technology-focused investors, reflects growing interest from the tech sector in uranium as a strategic resource for powering AI and data infrastructure. Proceeds from the transaction are expected to increase the company’s cash reserves to approximately $11–12 million CAD, funding ongoing exploration with minimal dilution.Myriad is also progressing toward a listing on a major U.S. exchange and completing a merger to consolidate ownership of Copper Mountain. Combined with new exploration targets and strong financial backing, the company is positioning itself to capitalize on rising uranium demand and increasing geopolitical focus on domestic energy security.Learn more: https://www.cruxinvestor.com/companies/myriad-uraniumSign up for Crux Investor: https://cruxinvestor.com