Interview with Thomas Lamb, CEO of Myriad Uranium Corp.
Our previous interview: https://www.cruxinvestor.com/posts/made-in-america-myriad-uranium-csem-americas-uranium-gap-the-wyoming-project-closing-it-10614
Recording date: 16th September 2026
Myriad Uranium Corp. (CSE:M) is a US-focused uranium exploration company whose flagship asset, the Copper Mountain Uranium Project in Fremont County, Wyoming, carries one of the largest historical uranium resource bases in the country. The project was extensively drilled in the 1970s by Union Pacific which delineated seven deposits and designed a conventional six-pit mine plan before uranium prices collapsed following the Three Mile Island incident in 1979. Those historical efforts left behind a resource estimate of 26.63 Mlbs eU₃O₈ in 48.95 Mt at 269 ppm, and a separate 1982 U.S. Department of Energy-commissioned study (Bendix Field Engineering) identified an exploration target of up to 655 Mlbs across a wider assessment area. Neither figure is a current, NI 43-101-compliant mineral resource, and Myriad is careful to flag both as historical and, in the case of the exploration target, conceptual.
Myriad has spent the past two years re-testing that legacy. A 34-hole Phase I programme at the Canning deposit, completed in November 2025, found that modern laboratory assays consistently outperformed the historical gamma-probe grades - by 20% at a 200 ppm cut-off, rising to 60% at 1,000 ppm - a pattern the company attributes to radiometric disequilibrium not captured by 1970s-era probe technology alone. That result underpins the current Phase II programme, a roughly 5,000-metre, two-stage effort launched in July 2026 and funded from the company's own cash position (approximately $10 million against a budgeted $6 million spend). Stage 1 is retesting the historic deposits - Gem, Hesitation, Arrowhead, Mint and continued work at Canning - while Stage 2 is testing new ground identified through district-wide radiometric and magnetic surveying, including the Lucky Cliff prospect, where four holes returned 50 mineralised intervals above 100 ppm eU₃O₈ entirely outside the historic resource footprint.
Corporately, Myriad consolidated 100% ownership of Copper Mountain in August 2026 via merger with Rush Rare Metals Corp - the first time the district has had a single owner in nearly 50 years - and is preparing a NASDAQ or NYSE American listing application, described as roughly 80% complete. The company also holds a 23-target breccia pipe exploration portfolio on the Arizona Strip near Energy Fuels' high-grade Pinyon Plain Mine, optioned to Wedgemount Resources on a partner-funded earn-in structure, and retains a 10% free carried interest plus a strategic alliance in the Red Basin Project in New Mexico, sold in May 2026 to technology-investor-backed Subatomic for a better-than-6x cash-on-cash return.
As of September 2026, Myriad had approximately 140.1 million shares outstanding (195.0 million fully diluted) and a market capitalisation near C$67.3 million, with no reported short interest. CEO Thomas Lamb has framed the company's capital approach around avoiding the fate of peers that funded large resource-confirmation drilling programmes without a corresponding re-rating, positioning Copper Mountain's next drill results due through the remainder of Phase II as the key near-term catalyst for the stock.
Learn more: https://www.cruxinvestor.com/companies/myriad-uranium
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What is Company Interviews?
An insight into junior mining and opportunities to invest.
Company Interviews, a Crux Investor show, exists to cut through the jargon, bias and bluster.
Matthew Gordon, and guest host Merlin Marr-Johnson hone in on the important factors that indicate a company's strong footing for growth and success.