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Myriad Uranium to Acquire Los Altares Uranium Project in Argentina for $300,000 and Stock

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MCA$0.4450 −4.30%

Myriad Uranium Corp. (CSE:M) has agreed to acquire full ownership of the Los Altares Uranium Project located in Chubut, Argentina. Under the deal, the company will pay $300,000 in cash and issue 1,571,268 common shares valued at a deemed price of $0.4455 per share. The seller will retain a 2% net smelter return royalty, with Myriad holding an option to buy back 1% of the royalty for $1 million.

The transaction adds 55,013 hectares of exploration property in the Cerro Solo district to Myriad's portfolio. The low upfront cash cost allows the company to conserve capital while expanding its asset base, though the share issuance dilutes existing equity holders. The property features existing concessions and Environmental Impact Assessments. Regional rules in Chubut prohibit open-pit mining, so future operational viability relies on in-situ recovery methods, which are supported locally.

Closing is anticipated on or before November 13, 2026, subject to required regulatory approvals. Investors will monitor regulatory progress and subsequent exploration work to evaluate the project's long-term potential.

Key points

  • Myriad Uranium Corp. is acquiring 100% of the 55,013-hectare Los Altares Uranium Project in Chubut, Argentina.
  • Deal terms include $300,000 in cash and 1,571,268 common shares at a deemed price of $0.4455 per share.
  • The seller receives a 2% NSR royalty, with Myriad holding an option to buy back 1% for $1 million.
  • Chubut restricts open-pit mining but supports in-situ recovery, which aligns with project development.
  • The transaction is expected to close by November 13, 2026, subject to regulatory approvals.

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Questions and answers

What are the terms of Myriad Uranium's acquisition of the Los Altares project?

Myriad Uranium agreed to pay $300,000 in cash and issue 1,571,268 shares at $0.4455 per share, alongside a 2% NSR royalty to the seller.

Where is the Los Altares Uranium Project located?

The project covers 55,013 hectares in the Cerro Solo district of Chubut, Argentina.

When is the Los Altares acquisition expected to close?

The deal is expected to close on or before November 13, 2026, subject to regulatory approvals.