Mr. Thomas Lamb reports

MYRIAD URANIUM RE-ASSUMES 100% CONTROL OF HIGH-GRADE BRECCIA PIPES NEAR PINYON PLAIN MINE, TERMINATES WEDGEMOUNT OPTION

Myriad Uranium Corp. has terminated its option agreement with Wedgemount Resources Corp. relating to the company's Arizona breccia pipe project, executed on June 9, 2026, reassuming 100-per-cent ownership of the portfolio of 24 individual breccia pipe prospects.

The breccia pipes share key geological characteristics with Energy Fuels Inc.'s nearby Pinyon Plain mine, which is often described as the highest-grade and most profitable uranium mine in the United States. They are the same solution-collapse breccia pipe deposit type, lie in the same district and are hosted in the same Colorado Plateau sedimentary sequence. There can be no assurance that any of the pipes will match the performance and social licence of Pinyon Plain.

"But of course it is our hope that one or more of our Arizona breccia pipes will match Pinyon Plain," commented Thomas Lamb, Myriad's chief executive officer. "Several already boast high-grade historical intercepts, and one, the Wate pipe, formerly held by Energy Fuels, carries a compelling historical inferred resource estimated by SRK in 2015. Energy Fuels' 2026 10-K refers to Wate as one of its pipeline projects; however, Myriad has now acquired the state lease covering Wate."

Highlights:

• Termination of the Wedgemount option returns 100-per-cent control of the Arizona breccia pipe project to Myriad, with no consideration payable by either party. Myriad now better understands the breccia pipe project's high-grade and district-scale potential.
• Adding the high-grade Arizona breccia pipe project will provide Myriad with an additional pathway to deliver high-value, 100-per-cent-owned U.S.-based uranium projects. This high-grade, capital-light opportunity will complement the company's Copper Mountain uranium project in Wyoming, which has the potential to develop into a large-scale district play.
• The breccia pipe project comprises 18 state mineral leases and eight split-estate mineral claims totalling 6,080 acres and hosts 24 breccia pipe prospects.
• Energy Fuels' Pinyon Plain mine, in the same district, targets the same style of breccia pipe mineralization and, according to Energy Fuels, is the highest-grade uranium mine in the United States.
• The Wate pipe's 2015 historical inferred estimate of 71,000 tons at 0.79 per cent eU3O8 (equivalent triuranium octoxide) (1.12 million pounds) is comparable in scale with the initial 2012 inferred resource at Energy Fuels' Pinyon Plain (then the Canyon mine) of 83,000 tons at 0.98 per cent eU3O8 (1.63 million pounds). Energy Fuels reports that actual mining at Pinyon Plain has exceeded its original projections. Pinyon Plain's results, including uranium mineralization and social licence, are not necessarily indicative of the outcome at the Wate pipe. The Wate estimate is historical and not current under National Instrument 43-101, Standards of Disclosure for Mineral Projects (see "About the Wate breccia pipe historical resource estimate" below).
• Several other pipes in the portfolio were drilled historically. Myriad knows the locations of many of the historical drill collars and has retained, as a consultant, a geologist who helped drill many of these holes in the 2000s.
• Next steps include modern geophysical and radiometric surveys, calibrated against historical drill holes and known resources, to build a portfolio of drill targets ahead of drilling. Breccia pipe mineralization is often high grade but can be highly localized, and Myriad believes these signatures will help it rank existing drill targets and identify new ones ahead of drilling.

Mr. Lamb continued: "Our breccia pipes have the potential to combine high grades, a small surface footprint, additional copper and REEs [rare earth elements], and a capital-light path to development. Geophysics, social engagement, permitting and drilling are all planned. We see the makings of a district-scale uranium play and a strong complement to our Copper Mountain uranium project in Wyoming, where Union Pacific drilled roughly 2,000 holes and planned a large-scale mine before the 1980 market downturn. Copper Mountain may have America's largest endowment of uranium. Endowment is not an NI 43-101 term, by the way."

Regional geological context and nearby operations

The Wate pipe and the other targets in the breccia pipe project are located in northern Arizona within the same regional district as Energy Fuels' Pinyon Plain mine and are interpreted to be of the same breccia-pipe-hosted uranium deposit type.

• Geological characteristics: The targets are all solution-collapse breccia pipe uranium deposits, which are vertical cylindrical bodies of broken sedimentary rock (breccia) dropped down into caverns in underlying massive limestone on the Colorado plateau. Uraninite, a reduced uranium ore mineral, accumulates within the permeable column of broken rock.
• Nearby operation: Pinyon Plain is an active uranium mining operation in the same district. Myriad considers the presence of an operating mine and regional processing infrastructure to be relevant for contextual information only. Energy Fuels' prefeasibility study for Pinyon Plain outlined premining reserves averaging 0.58 per cent eU3O8, and Energy Fuels reports that actual mining results have exceeded those projections. In 2025, Pinyon Plain mined ore containing approximately 1.53 million pounds of U3O8 (triuranium octoxide) at an average grade of approximately 1.62 per cent eU3O8. In the first half of 2026, it mined approximately 625,000 pounds at an average grade of approximately 0.91 per cent U3O8, with total mining, transport and milling costs of approximately $23 (U.S.) per pound recovered in Q2 2026 (see Energy Fuels' news releases dated Feb. 26, 2026, and Aug. 5, 2026).
• Historically reported uranium mineralization: Wate's 2015 (SRK) historical estimate grade averaged 0.79 per cent eU3O8 (historical, not current under National Instrument 43-101; see details below). In addition, several other pipes are known to have been drilled and encountered mineralization.
• Depth and geometry: Arizona breccia pipes are typically mineralized between 1,000 and 1,800 feet depth, particularly at the level of the Hermit shale, with a vertical extent of up to 600 feet and pipe diameters of 200 to 400 feet. Wate's mineralization was confirmed from 1,300 to 1,600 feet depth. Pinyon Plain's shaft extends to approximately 1,470 feet. Arizona breccia pipe deposits are commonly developed using underground access methods with relatively limited surface disturbance, although no current mining study has been completed by Myriad for the Wate pipe.
• Low surface footprint: Breccia pipe deposits typically require less than 20 acres of surface disturbance, an advantage from environmental permitting and community relations perspectives. The Wate project previously held a mineral exploration permit on Arizona state lands, with an application filed to convert it to a mining lease. Myriad has not independently verified the current status of those historical permits or applications. Note that project-specific development methods and impacts would depend on future technical and permitting work.
• Access to infrastructure: The project is located in northern Arizona with access to established infrastructure, including the Kaibab National Forest road network, and proximity to Energy Fuels' White Mesa mill in Utah, the only operating conventional uranium mill in the United States.
• REE potential: Published technical literature (for example, Wenrich, 2018) has noted the presence of rare earth element enrichment in some northern Arizona breccia pipe systems. Myriad has not completed sufficient work to determine the extent or economic significance of any REE mineralization on the project.

Note: The nearby Pinyon Plain mine is referenced for regional geological context only. Mineralization, grades, production and results on nearby properties are not necessarily indicative of mineralization on the project. References to REE potential are based on published literature regarding some northern Arizona breccia pipe systems and not on current NI 43-101-compliant mineral resource estimates or economic studies for the project.

About the Wate breccia pipe historical resource estimate

The breccia pipe project's principal asset is the Wate pipe, a deposit formerly held by Energy Fuels:

• SRK Consulting reported a historical inferred mineral resource estimate for the Wate pipe of approximately 71,000 short tons containing 1.12 million pounds eU3O8 at an average grade of 0.79 per cent eU3O8. This estimate is historical in nature and is not current under NI 43-101.
• The source of the historical resource estimate is a technical report titled "NI 43-101 Technical Report on Resources Wate Uranium Breccia Pipe -- Northern Arizona, USA," prepared for Energy Fuels by SRK, dated March 10, 2015.
• The qualified person considers the historical estimation work completed by SRK to be reliable and considers the historical estimate to be relevant as exploration guidance.
• SRK determined that there was sufficient drill hole information to allow for definition of mineralized shapes for the mineralization. SRK modelled the mineralization in four discrete zones within the Wate pipe and completed resource estimation by industry-standard procedures that are compliant with CIM (Canadian Institute of Mining, Metallurgy and Petroleum) definitions for NI 43-101 reporting.
• SRK classified the estimate as inferred according to the CIM Definitions and Standards (2014).
• There are no more recent estimates for this deposit.
• Data verification will be required to confirm the basis of the historical resource estimate and to determine whether it can be restated as a current mineral resource estimate compliant with CIM definitions for NI 43-101 reporting. If the original data are not available, additional drilling and sampling may be required.

Note: Myriad believes the historical estimate at Wate and prior drilling on certain targets indicate that the district warrants further exploration. A qualified person under NI 43-101 has not done sufficient work to classify the historical estimate as a current mineral resource or mineral reserve, and Myriad is not treating the historical estimate as current. Myriad intends to conduct further work to determine whether the historical estimate can be verified and, if appropriate, supported by a current mineral resource estimate.

Qualified person

The scientific and technical information in this news release, including the eU3O8 methodology and historical disclosure, has been reviewed and approved by George van der Walt, MSc, PrSciNat, FGSSA, a qualified person as defined under NI 43-101. Mr. van der Walt is a principal consultant with The MSA Group Pty. Ltd., an independent consultancy, and is independent of the company for the purposes of NI 43-101. A qualified person has not done sufficient work to verify historical exploration results or to classify the historical estimates referred to in this news release as current mineral resources or mineral reserves, and Myriad is not treating such historical estimates as current mineral resources or mineral reserves.

About Myriad Uranium Corp.

Myriad Uranium holds a 100-per-cent interest in the Copper Mountain uranium project in Wyoming, United States. Copper Mountain hosts multiple historic uranium deposits and past-producing mines, including the Arrowhead mine (approximately 500,000 pounds 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 $125-million (2026 dollars) in the project, generating significant historical resource estimates.

Myriad holds a 10-per-cent 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-per-cent-owned Arizona breccia pipe project comprises at least 24 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 Arizona 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.

We seek Safe Harbor.