Myriad Uranium Corp. (CSE: M) has released preliminary gamma probe equivalent uranium results from five boreholes drilled at its 100%-owned Copper Mountain Uranium Project in central Wyoming. The announcement highlights a standout interval of 34.29 metres grading 399 ppm eU₃O₈ — one of the longest intervals recorded in modern drilling at the project. Separately, the company disclosed a non-cash financial restatement relating to share-based compensation that investors may wish to review before relying on previously filed statements.

Key Points

  • Myriad Uranium Corp. (CSE: M, OTCQB: MYRUF, FSE: C3Q)
  • Five Phase II boreholes at Hesitation and Arrowhead returned 22 discrete mineralised intervals above 100 ppm eU₃O₈, with 4 of 5 holes intersecting mineralisation
  • Longest interval: 34.29 metres at 399 ppm eU₃O₈ with a peak grade of 1,511 ppm; highest peak grade across all holes was 1,648 ppm eU₃O₈ in ARR0003DD
  • Investors should note results are preliminary radiometric estimates, not chemical assays, and are subject to laboratory verification; financial restatement adds approximately $595,000 non-cash expense

Hesitation and Arrowhead Borehole Results Extend Copper Mountain Mineralisation

Myriad completed two holes at the Hesitation deposit and three at Arrowhead for a combined 797.1 metres of drilling. Hole HES0001BDD delivered the standout result: a 34.29-metre interval grading 399 ppm eU₃O₈ from 107.15 metres depth, including 20.27 metres at 520 ppm and a peak grade of 1,511 ppm. The highest single peak grade across the five-hole programme was 1,648 ppm eU₃O₈ in ARR0003DD at 11.6 metres depth. CEO Thomas Lamb stated these results continue to exceed the company's expectations and described the project's uranium endowment as potentially one of America's largest.

Phase II Programme Targets Verification of Copper Mountain's Historical Resource

The ongoing Phase II drill programme carries two primary objectives: verifying the mineralisation underpinning a historical estimate of 26.63 million pounds eU₃O₈ and generating modern data to support a future maiden mineral resource estimate. Myriad has also outlined an Exploration Target of 1,111 to 2,971 Mt at 100 ppm eU₃O₈ based on a 1982 Bendix Engineering assessment for the U.S. Department of Energy. A Qualified Person has not done sufficient work to classify the historical estimate as current mineral resources or reserves, and Myriad is not treating those estimates as current resources or reserves.

Non-Cash Financial Restatement to Adjust Share-Based Compensation Figures

Myriad separately disclosed it will restate its financial statements for the year ended April 30, 2026, and the interim period ended July 31, 2026, to correct accounting for non-cash share-based compensation under IFRS 2. The preliminary estimate adds approximately $595,000 of non-cash expense to the annual statements. The company states the restatement will not affect cash balances, liabilities, total net assets, or operating cash flows, and has no impact on exploration activities. Investors are cautioned not to rely on the previously filed financial statements until restated documents have been filed with updated CEO and CFO certifications.