Myriad Uranium closes Rush Rare Metals acquisition

Vancouver, British Columbia--(Newsfile Corp. - July 13, 2026) - Myriad Uranium Corp. (CSE: M) (OTCQB: MYRUF) (FSE: C3Q) ("Myriad" or the "Company") is pleased to announce that Rush Rare Metals Corp. ("Rush") has filed its management information circular (the "Circular") and related materials for Rush's annual general and special meeting (the "Meeting") of shareholders ("Rush Shareholders") at which, among other things, the Rush Shareholders will be asked to consider and vote on a special resolution (the "Arrangement Resolution") approving a statutory plan of arrangement (the "Arrangement") under which Myriad will acquire 100% of the issued and outstanding common shares of Rush (the "Rush Shares"). The Meeting is scheduled to take place on August 17, 2026 at 10:00 a.m. (Pacific time) at Suite 605, 1125 Howe Street, Vancouver, B.C. For the Arrangement to become effective, the Arrangement Resolution must first be approved at the Meeting by the affirmative vote of at least two-thirds (66 2 / 3 %) of the votes cast by Rush Shareholders.

On February 13, 2026, Myriad and Rush entered into an acquisition agreement and an arrangement agreement dated as of February 13, 2026 (together, the "Definitive Agreement") respecting the Arrangement. Under the Arrangement, Myriad will acquire all of the Rush Shares by issuing one Myriad common share (each, a "Myriad Share") for every 1.85 Rush Shares issued and outstanding, resulting in an exchange ratio of one (1) Rush Share to 0.5405 Myriad Shares (the "Exchange Ratio"). In addition, all of Rush's convertible securities will be replaced with Myriad convertible securities exercisable for Myriad Shares, with appropriate adjustments made to reflect the Exchange Ratio under the Arrangement.

Myriad's CEO Thomas Lamb commented: " The acquisition of Rush is a major catalyst for Myriad. It consolidates our ownership of the Copper Mountain Uranium Project to 100%, unifying ownership and operations in a natural next step following our highly successful development of the project to date. This should meaningfully increase our market cap, opening the door to increased institutional investment and supporting our planned uplisting to a major U.S. exchange.

Copper Mountain is one of the strongest uranium projects in the U.S. heartland, and it deserves maximum visibility and investor access in the U.S. " Rush has incorporated a subsidiary, 1577075 B.C. Ltd. ("Rush Spinco"), to which Rush has transferred all of its right, title and interest in and to its Boxi Property in Quebec and has funded $100,000 to support the formation or capitalization of Rush Spinco. As part of the Arrangement, Rush Shareholders will receive one (1) Rush Spinco share for each four (4) Rush Shares issued and outstanding, in addition to the Myriad Shares they will receive under the Arrangement.

Myriad's focus is wholly on achieving 100% ownership of Copper Mountain Uranium Project in Wyoming and continuing to unlock its value as quickly and efficiently as possible. Closing of the transaction remains subject to a number of conditions, including approval of the Rush Shareholders, approval of the British Columbia Supreme Court, approval of the Canadian Securities Exchange, standard closing deliverables and other customary conditions typical for transactions of this nature. Following completion of the transaction, Rush will become a wholly owned subsidiary of Myriad and will be delisted from the CSE.

The transaction does not require approval of Myriad shareholders. None of the securities to be issued pursuant to the Arrangement have been or will be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and any securities issuable in the transaction are anticipated to be issued in reliance upon available exemptions from such registration requirements pursuant to Section 3(a)(10) of the U.S. Securities Act and applicable exemptions under state securities laws.

This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities. Certain directors and officers of Myriad hold securities of Rush which will be exchanged for Myriad and Rush Spinco securities under the Arrangement, which exchange is considered to be a "related party transaction" as defined under Multilateral Instrument 61-101 ("MI 61-101"). This related party transaction is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as the fair market value of the transaction does not exceed 25% of Myriad's market capitalization of the Company, as determined in accordance with MI 61-101.

In considering and unanimously approving the transaction, there were no materially contrary views, abstentions (except for any abstentions required by corporate law) or material disagreements by any Myriad director. About Myriad Uranium Corp. Myriad Uranium Corp. holds a 75% interest in the Copper Mountain Uranium Project in Wyoming, USA, with a definitive agreement in place to acquire the remaining 25% via the acquisition of Rush Rare Metals Corp. Copper Mountain hosts multiple historic uranium deposits and past-producing mines, including the Arrowhead Mine (approximately 500,000 lbs U₃O₈ produced). Union Pacific conducted extensive exploration and development in the district during the late 1970s, including approximately 2,000 boreholes and advanced mine planning, before the uranium market downturn in 1980.

Union Pacific is estimated to have invested approximately C$125 million (2026 dollars) in the project, generating significant historical resource estimates. A news release detailing a comprehensive assessment of Copper Mountain's uranium endowment by Bendix Engineering for the US Department of Energy published in 1982 can be viewed here . Myriad holds a 10% free carried interest in the Red Basin Uranium Project, recently sold to 8VC- and Overmatch-backed Subatomic Industries.

Red Basin carries significant historical resource estimates from extensive drilling by Occidental Oil in the late 1970s, and also hosts vanadium, which has been designated a strategic and critical mineral by the U.S. government. Note the caution on historical estimates below. Myriad's 100%-owned Breccia Pipe Project in Arizona comprises at least 23 breccia pipes that are prospective for uranium and REEs.

One of the pipes, the Wate Pipe, was previously owned and explored by Energy Fuels and is the subject of a historical resource estimate. Note: A qualified person has not done sufficient work to classify the Copper Mountain, Red Basin, and Breccia Pipe Project historical estimates as current mineral resources or reserves and Myriad is not treating historical estimates as current resources or reserves. Myriad intends to conduct further work to determine whether the historical estimates can be verified and, if appropriate, supported by current mineral resource estimates.

For further information, please refer to Myriad's disclosure record on SEDAR+ ( www.sedarplus.ca ), contact Myriad by telephone at +1.604.418.2877, or refer to Myriad's website at www.myriaduranium.com . Myriad Contacts: Thomas Lamb President and CEO tlamb@myriaduranium.com Forward-Looking Statements This news release contains "forward-looking information" that is based on current expectations, estimates, forecasts and projections. This forward-looking information includes, among other things, each company's business, plans, outlook and business strategy.

The words "may", "would", "could", "should", "will", "likely", "expect," "anticipate," "intend", "estimate", "plan", "forecast", "project" and "believe" or other similar words and phrases are intended to identify forward-looking information. All statements in this news release, other than statements of historical facts, including statements regarding future estimates, plans, objectives, timing, assumptions or expectations of future performance are forward-looking statements and contain forward-looking information, including, but not limited to: the terms of the Arrangement, the completion of the Arrangement, including receipt of required shareholder, regulatory, court and CSE approvals; the ability of the parties to satisfy, in a timely manner, the other conditions to the closing of the Arrangement; the prospects of the combined company following completion of the Arrangement; that the anticipated benefits of the Arrangement will be realized; and the anticipated timing of completion of the Arrangement. Forward-looking information also involves known and unknown risks and uncertainties and other factors, which may cause actual events or results in future periods to differ materially from any projections of future events or results expressed or implied by such forward-looking information or statements, including, among others: the failure to obtain shareholder, regulatory, court or CSE approvals in connection with the Arrangement, failure to complete the Arrangement, failure to realize the anticipated benefits of the Arrangement or implement the business plan for the combined company, negative operating cash flow and dependence on third party financing, uncertainty of additional financing, no known current mineral reserves or resources, reliance on key management and other personnel, potential downturns in economic conditions, actual results of exploration activities being different than anticipated, changes in exploration programs based upon results, and risks generally associated with the mineral exploration industry, environmental risks, changes in laws and regulations, community relations and delays in obtaining governmental or other approvals and the risk factors with respect to Myriad set out in the Company's most recent annual management discussion and analysis and other filings which have been filed with the Canadian securities regulators and available under Myriad's profile on SEDAR+ at www.sedarplus.ca .

Although Myriad has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information or implied by forward- looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information.

Myriad does not undertake any obligation to update or reissue forward- looking information as a result of new information or events except as required by applicable securities laws. The CSE has not reviewed, approved or disapproved the contents of this news release. To view the source version of this press release, please visit https://www.newsfilecorp.com/release/304839 Newsfile Corp. July 13, 2026 - 2:00 AM PDT News by QuoteMedia www.quotemedia.com