Wedgemount options up to 75% stake in Arizona uranium-REE breccia pipe project from Myriad Uranium

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  • Wedgemount entered a 3-year option with Myriad Uranium to acquire up to 75% of an Arizona breccia pipe uranium-REE project.
  • The package covers 15 state mineral leases, 8 split-estate claims, 5,600 acres; two pending awards could lift the total to 6,080 acres.
  • Earn-in terms include USD 75,000 cash, Cdn 4 million of qualifying expenditures, share issuance to lift Myriad to 9.9% ownership.
  • Targets total 23; the Wate Pipe carries a 2015 historical estimate of 1.12 million lbs eU3O8 at 0.79% grade.
  • Myriad can earn back to 50% by funding the next Cdn 5 million, creating a 50/50 joint venture.


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