Myriad Uranium Corp. (CSE: M) has announced the closing of its acquisition of the Los Altares Uranium Project in Chubut Province, Argentina, from Green Shift Commodities Ltd. The transaction, originally announced on October 13, 2026, gives Myriad 100% ownership of 55,000 hectares located on strike with Cerro Solo, described by the company as one of Argentina's largest uranium deposits. The deal expands Myriad's multi-jurisdictional uranium portfolio and positions it within what the company calls Argentina's most important uranium district.

Key Points

  • Myriad Uranium Corp. (CSE: M, OTCQB: MYRUF, FSE: C3Q)
  • Myriad has closed its 100% acquisition of the Los Altares Uranium Project in central Chubut, Argentina from Green Shift Commodities Ltd.
  • Consideration comprised $300,000 cash plus 1,571,268 common shares at a deemed price of $0.4455 per share, representing $700,000 in share consideration; a 2% NSR royalty was also granted, with 1% repurchasable for $1 million
  • Investors may be watching for results of additional technical work required to validate the project's in-situ recovery potential

Los Altares Transaction Structure and Consideration Paid

Pursuant to a share purchase agreement dated October 9, 2026, Myriad acquired all issued and outstanding shares of Buenavida Metales S.A., the Argentine-registered entity holding the project's mineral claims and related assets. Myriad paid $300,000 in cash and issued 1,571,268 common shares to Green Shift at a deemed price of $0.4455 per share, representing $700,000 in share consideration. Those shares are subject to a four-month hold period expiring March 1, 2027. Myriad also granted a 2% net smelter return royalty to Green Shift, with the option to repurchase half of that royalty for $1 million.

Strategic Rationale and Cerro Solo District Positioning

The release states that Los Altares includes granted concessions, approved environmental impact assessments, and significant historical drilling. CEO Thomas Lamb noted in the announcement that the project is on strike with Cerro Solo and near the historical Los Adobes mine. The depth of the prospective sandstone horizon is cited as providing exploration rationale to test for in-situ recovery potential, though the company acknowledges that additional technical work will be required to validate this thesis. The release also states the deal brings sector shareholders onto Myriad's register.

Myriad's Expanding Uranium Portfolio Across Multiple Jurisdictions

With the Los Altares closing, Myriad now holds uranium assets across four jurisdictions. These include the 100%-owned Copper Mountain Uranium Project in Wyoming, a 10% free carried interest in the Red Basin Uranium Project, the 100%-owned Breccia Pipe Project in Arizona, and now the Los Altares project in Argentina. The company also announced the issuance of 150,000 stock options to a consultant, exercisable at $0.39 per share until October 30, 2031, with immediate vesting.