Myriad Uranium secures 75% ownership of Wyoming’s Copper Mountain after major expenditures, strengthening control as early exploration shows exceptional project potential.
Myriad Uranium Corp. has announced a major milestone in its ongoing expansion efforts, confirming that it has officially earned a 75% ownership interest in the Copper Mountain Uranium Project located in Wyoming, USA. This significant achievement comes after the company successfully invested more than USD 5.5 million in qualifying expenditures as mandated under the existing Property Option Agreement. The agreement was originally signed with Rush Rare Metals Corp. on October 18, 2023, and has since been amended to accommodate evolving work plans and financial structures. As outlined in the agreement, Myriad now holds a substantial majority interest of 75%, while Rush Rare Metals retains the remaining 25% stake. Both ownership positions remain subject to specific underlying net smelter return (NSR) royalties that were established prior to the current exploration activities.
This development marks a pivotal point in Myriad Uranium’s strategic objectives, especially as the company continues positioning itself within the United States’ growing uranium exploration and supply landscape. The Copper Mountain Project has been gaining attention due to its promising geological features, historical data, and increasing potential as one of the more robust uranium projects within the region. By meeting its expenditure requirement, Myriad has not only advanced its contractual obligations but also strengthened its operational control, giving it more influence over future exploration decisions, technical planning, and overall project direction.
Thomas Lamb, CEO of Myriad Uranium, highlighted the significance of this accomplishment, noting that achieving the 75% expenditure threshold represents far more than just a financial benchmark. In his statement, Lamb emphasized that this milestone corresponds with crucial new insights into the actual size, scale, and growing potential of the Copper Mountain Project. According to him, the company’s initial phase of drilling and exploration activities has performed “well beyond expectations,” offering richer results and geological data than previously anticipated.
Lamb further stated that the momentum generated during the first phase has not only validated the company’s confidence in the project but has also reshaped internal projections regarding what Copper Mountain may ultimately contribute to the broader U.S. uranium supply network. With global interest in uranium rising due to its role in clean energy systems and nuclear power generation, developing a large-scale uranium project in a stable and resource-friendly jurisdiction like Wyoming offers significant long-term strategic advantages.
The CEO also expressed optimism about upcoming exploration phases, indicating that the company’s strengthened ownership position allows it to accelerate work programs, streamline decision-making, and pursue innovative approaches that could unlock even more value. With the latest progress, Myriad Uranium views Copper Mountain as a potential cornerstone project—one that may eventually stand among the largest uranium assets in the United States, contributing both to national energy security and to the company’s growth trajectory.
