Wyoming Uranium Explorer Secures 100% Copper Mountain Ownership

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1. Ownership and Share Structure Information

The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.

Myriad Uranium Corp. (M:CSE; MYRUF:OTCMKTS) has completed its acquisition of Rush Rare Metals Corp., securing full ownership of the Copper Mountain Uranium Project in Wyoming. The transaction closed after final court approval and gives the company 100 percent control of a district-scale uranium asset with multiple historical deposits.

The deal closed when Myriad issued 24,983,671 common shares at a deemed price of CA$0.42 each, for total consideration of CA$10,493,141.80. Following completion of the arrangement, Myriad holds 46,223,258 Rush shares, representing 100% of Rush's issued and outstanding common shares. Myriad previously held no shares in Rush.

Why Full Ownership Matters for Retail Investors Now

Retail investors often look for clean corporate structures before committing capital. With 100 percent ownership now in hand, Myriad has eliminated the remaining minority ownership structure at Copper Mountain, giving it full control over exploration and development decisions. The timing aligns with a uranium market that continues to show structural supply shortfalls.

Key Investor Takeaways

• Myriad now owns 100 percent of the Copper Mountain Uranium Project after acquiring all outstanding shares of Rush Rare Metals.
• Phase II drilling at Lucky Cliff identified broad near-surface uranium-mineralized intervals in all four holes completed as of August 20, based on preliminary gamma-probe equivalent uranium results.
• Global uranium contracting remains below annual reactor consumption for the 14th straight year, supporting long-term price fundamentals.
• Three research firms recently expressed positive views on Myriad, with Red Cloud Securities maintaining a CA$1.25 price target and HoldCo Markets raising its target to CA$0.95. VSA Capital reiterated its Speculative Buy rating.
• The company maintains a market capitalization of roughly CA$46.5 million with 110.7 million shares outstanding.
• Preparation for a U.S. exchange listing is 80 percent complete, according to the July 2026 investor presentation.

Company Position After the Merger

Myriad's July 2026 investor deck had already flagged the Rush merger as the final step to consolidate 100 percent of Copper Mountain. The project covers more than 18,000 acres and contains seven historical deposits plus additional mineralized prospects. With full ownership secured, the company can now advance exploration programs without partner approvals.

Exploration Program and Next Catalysts

Myriad's July 2026 investor deck outlined a three-stage exploration program for the Copper Mountain Uranium Project, while the company's 2026 investor materials incorporated the staged approach into its Phase II exploration plans.

Stage 1 targets verification of historical mineralization with up to 15 holes totaling 2,300 meters. As of August 20, four holes totaling 716.6 meters had been completed at Lucky Cliff, with all four intersecting multiple near-surface uranium-mineralized intervals.

Stage 2 will expand on those results and test additional targets identified through the 2,114-line-kilometer airborne magnetic and radiometric survey.

Stage 3 remains contingent on positive results and would focus on resource delineation drilling aimed at supporting a maiden NI 43-101 mineral resource estimate.

Uranium Market Context and Sector Timing

FX Empire wrote on August 21 that uranium had maintained a bullish price structure despite interest-rate risks.

According to an August 25 report by Jackson Chen, utility contracting volumes remain well below the levels needed to replace annual reactor consumption. European coverage is projected to fall sharply after 2030, while U.S. coverage drops to single digits by 2033 under current contracts.

A separate uranium market data source from Trading Economics on August 25 showed uranium at US$89.55 per pound, up 20.04% over the preceding year.

Analyst Views and Valuation Context

VSA Capital reiterated a Speculative Buy rating after the initial Lucky Cliff results and noted that final court approval removed the last material execution risk on the path to 100 percent ownership.

Red Cloud Securities maintained its BUY (S) rating and CA$1.25 target, citing upcoming chemical assays and a potential U.S. uplisting as near-term catalysts.

HoldCo Markets raised its price objective to CA$0.95 after increasing its NAV multiple to 0.65x, citing the cleaner ownership structure.

Share Structure and Near-Term Events¹

As of August 25, 2026, Myriad Uranium Corp. has a market cap of CA$46.50 million, with 110.70 million shares outstanding. The company's 52-week range is CA$0.22-CA$0.70, as of August 25, 2026. Institutions own 5.50 percent of shares, while Management & Insiders own 4.40 percent. 

Upcoming milestones include additional Phase II assay results, Stage 2 drilling, and continued work toward a U.S. exchange listing. The company also holds a partner-funded Arizona breccia-pipe portfolio that requires no immediate capital from Myriad.

Common Questions from Investors

What percentage of Rush Rare Metals did Myriad acquire? Myriad acquired 46,223,258 Rush shares pursuant to the statutory plan of arrangement, representing 100 percent of Rush's issued and outstanding shares.

How many meters has Myriad drilled at Lucky Cliff to date? Four holes totaling 716.6 meters were completed by August 20, 2026, with all holes intersecting near-surface uranium mineralization.

What is the current long-term uranium price referenced in recent reports? The long-term uranium price reached US$94 per pound, its highest level in 18 years, according to the August 25 market update.

Does Myriad have any partner-funded projects outside Wyoming? Yes, the company holds a 23-target Arizona breccia-pipe portfolio under a three-year option agreement with Wedgemount Resources that is fully funded by the partner.