MYRIAD URANIUM CORP. provided the following update. Background Myriad holds 100% option interests in over 1,800 km of exploration licences in the Tim Mersoï Basin, Niger, one of the world's most prospective uranium districts.

The Company's four licenses (Agebout, Afouday, Tagait 2, and Tagait 3) are immediately adjacent to or within 25-50 kilometres of some of the world's most significant uranium deposits. All four of Myriad's licences were previously held by Orano (reference to Orano includes its predecessor entities such as Areva and Cogema). Orano dropped claims throughout the Tim Mersoï Basin in and around 2013, in the aftermath of the Fukushima accident and during a period of extremely low uranium prices.

However, throughout this period Orano did continue to focus on its "mine of the future", Imouraren. Uranium mineralization within the Basin is related to roll-front style deposition in westerly-dipping sandstone formations, but is strongly controlled by regional structures, particularly the major north-south trending Arlit Fault, along which most of the major deposits are located. This includes Imouraren, Cominak, and Somair.

In recent years it has been discovered that major deposits can also be found along secondary fault structures, such as the Dasa and Madaouela deposits, which lie on the Azouza, Adrar Emoles and Madaouela Faults. At combined resources of over 250 Mlbs eU3O8, Dasa is not only very large, but it is also currently the highest grade uranium project under development in Africa. Dasa's owner, Global Atomic, recently reported remarkably high exploration grades, such as 43.6 m at 3.0% eU3O8 from 549.2 m, which contained 4.48 m at 6.38%, 0.7 m at 13.63%, and 3.4 m at 7.48%.

The data has directed the Company to several high priority target areas where additional Dasa-and- Imouraren-like discoveries are possible. Myriad can also leverage recent discoveries in the Tim Mersoï Basin, in particular Global Atomic's Dasa, which has revealed that very high uranium grades can also be found in secondary fault structures adjacent to the main Arlit fault, and at depths not previously investigated, which leaves some highly interesting "gaps" in Orano's previous exploration work on its licences. Agebout: The Arlit and Madaouela Faults intersect within Agebout approximately 10 km north of Orano's "mine of the future", Imouraren.

This is regarded as a prime target for further exploration. Orano had themselves previously developed a plan to conduct intensive drilling in the area, but abandoned it post-Fukushima as a part of Orano's larger strategy to cut back on licence areas and focus on Imouraren. Myriad now holds this area and will have an opportunity to test Orano's planned exploration strategy.

Further east within Agebout, Orano's radiometric surveys identified numerous surface anomalies. Orano conducted wide-spaced drilling in this area, consisting of 39 boreholes at 800 m centres along 5.5 km spaced lines, specifically targeting locations around surface anomalies. The known major fault zones were not fully tested, nevertheless 10 of those boreholes intersected mineralized intervals in excess of 100 ppm eU.

Historical drill logs were used to identify anomalous holes and depths, but Myriad will not speculate on grades beyond that without first conducting verification logging. Taking into account more recent insights regarding mineralization in the Tim Mersoï Basin, in particular that high grade mineralization may occur in deeper stratigraphic horizons, the south-east part of Agebout also represents a prime targeting location. Afouday:The Arlit Fault hosts the Imouraren deposit, located 50 km to the north, while the Azouza Fault hosts the Dasa deposit, located 30 km to the north-east, and the Azilek deposit, located 55 km to the south-west.

This area saw significant exploration until 2010. Orano conducted relatively shallow wide-spaced drilling of 94 boreholes at 800 m centres along 1.5 km (and wider) spaced lines in the eastern half of the property. Prime locations along the known major fault zones, particularly Azouza, were not fully tested, nor were any of the holes drilled to a depth where later high-grade intercepts were found at Dasa, with intercepts as high as 0.7 m at 13.63% eU3O8 at 551 m. Nevertheless, 15 of the historical boreholes intersected mineralized intervals in excess of 100 ppm eU, with the frequency of uranium occurrences seeming to increase with depth.

Tagait 2 and Tagait 3: The Tagait 2 and 3 properties are immediately adjacent to each other and located approximately 25 km south and south-east of the Afouday property. The Arlit Fault intersects on Tagait 2 with other potentially significant faults, and as the company has recently learned from discoveries at Dasa and elsewhere, secondary faults running away from Arlit should not be overlooked as potential exploration targets. Any planned activities of Orano to conduct further exploration at Tagait 2 and Tagait 3 were interrupted by the decision of Orano to relinquish a number of its Niger exploration licences following the Fukushima disaster.

Historic data obtained by Myriad indicates that at least 11 of the 28 boreholes encountered mineralization in excess of 100 ppm eU. Of particular interest are three consecutive anomalous boreholes running along a north-west to south-east fault in Tagait 3. The Tagait licences are geologically very interesting and, like the other areas, represent largely under- explored terrain (each Tagait licence is over 400 km in extent). Tagait 2 and Tagait 3 are respectively traversed by the Arlit and Adrar Emoles faults.

Moreover, several secondary faults which run through both licence areas host significant deposits to the west and south-east of the Tagait licence boundaries. Quite simply, this is exciting ground that needs to be explored further. The Road Ahead Myriad is currently developing a phased exploration plan, which is anticipated to include: Current – First Quarter 2023- Further examination and analysis of historic data.

Field-based confirmation of surface radiation anomalies and related geologic observations (currently underway). Construction of more detailed geologic maps and cross sections from existing data to identify and constrain the target horizons and depths. Second Quarter and Third Quarter 2023: Possible high resolution magnetic geophysical surveys to better constrain the primary fault locations for drill targeting.

Surveying selected historic boreholes to confirm previous uranium occurrences. Fourth Quarter 2023- Reconnaissance test drilling at selected locations based on assessment of the data. 2024 and beyond: Target and resource delineation drilling, based on success of the earlier phases.