Myriad Uranium Corp. (CSE: M) (OTCQB: MYRUF) (FSE: C3Q) announced on October 13, 2026, that it has agreed to acquire the Los Altares Uranium Project in central Chubut Province, Argentina — a district-scale land package spanning approximately 55,000 hectares across 23 properties. The transaction is structured as a share purchase agreement with Green Shift Commodities Ltd. (TSXV: GCOM), with consideration of $300,000 in cash and 1,571,268 Myriad common shares at a deemed price of $0.4455 each. The deal would significantly expand Myriad's uranium asset portfolio and establish a foothold in what the company describes as Argentina's premier uranium district.

Key Points

  • Myriad Uranium Corp. (CSE: M) is acquiring the Los Altares Uranium Project in Chubut, Argentina
  • Consideration is $300,000 cash plus 1,571,268 common shares at a deemed price of $0.4455 each
  • The project covers approximately 55,013 hectares across 23 properties; closing is expected on or before November 13, 2026, subject to exchange approvals and customary conditions
  • Investors may be watching for closing confirmation and Myriad's subsequent compilation of historical exploration data

Los Altares Project Scale and Location Within the Cerro Solo District

The Los Altares Project lies within the Cerro Solo uranium district of central Chubut Province, flanking the CNEA-held Cerro Solo deposit to the east and west. The project is divided into an East District — comprising the Arroyo Perdido and Perdido claim blocks — and a West District, which includes the Condor 1 and Pichiñán claims. Uranium mineralisation in the district is hosted in fluvial sandstones and conglomerates of the Cretaceous Chubut Group. The release states that previous interpretations place the prospective sandstone horizon approximately 150 to 200 metres below parts of the East District, providing an exploration rationale, though no hydrogeological or metallurgical work has confirmed ISR amenability.

Transaction Structure, Royalty Terms, and Strategic Shareholders

Under the share purchase agreement dated October 9, 2026, Myriad will acquire all issued and outstanding shares of Buenavida Metales S.A., the Argentine entity holding the mineral claims. The project will carry a 2% net smelter return royalty in favour of Green Shift, with Myriad retaining the right to repurchase half — equating to 1% — for $1 million. Shares issued to Green Shift are subject to a four-month hold period. The transaction also brings Green Shift, whose largest shareholder is Mega Uranium (TSX: MGA), onto Myriad's shareholder register, which the company describes as a strategic addition of leading uranium sector participants.

Permitting Status and Historical Drilling at Los Altares

Four East District properties — Arroyo Perdido Norte 1, 2 and 3, and Arroyo Perdido Sur 1 — are fully granted mining concessions with approved Environmental Impact Assessments. Seven additional properties hold approved EIAs and are advancing through title registration. Approximately 12,500 metres of historical drilling is understood to have been completed across the project, including 37 reverse-circulation holes reportedly drilled by Maple Minerals Exploration and Development Inc. The release cautions that the Qualified Person has not verified drilling totals, procedures, or results, and this historical information should not be relied upon as demonstrating mineralisation on the project.