Wedoany.com Report-Dec.11, Myriad Uranium Corp. (CSE: M, OTC: MYRUF), headquartered in Vancouver, announced that it has completed the required expenditures to earn a 75% interest in the Copper Mountain uranium project located in Wyoming, United States. The company has invested more than US$5.5 million in qualifying exploration and development costs under the existing option agreement with Rush Rare Metals Corp., which now retains a 25% interest. Both interests remain subject to pre-existing net smelter return royalties.

The Copper Mountain project gained renewed attention after Myriad secured an expanded drilling permit in October. Historical work completed in the late 1970s by a previous operator included approximately US$25 million (equivalent to roughly US$100 million in current terms) in exploration and engineering studies. Those studies identified six potential open-pit mining areas containing an estimated historical resource of 245 million pounds of uranium oxide (U3O8).

Myriad's recent Phase 1 drilling programme has delivered encouraging results that substantially exceeded initial expectations, according to the company.

"Reaching the 75% expenditure threshold is an important milestone for the company, and it comes at a moment when the scale and potential of Copper Mountain are becoming increasingly clear," Myriad CEO Thomas Lamb said in a news release. "Our first phase of drilling and exploration has significantly exceeded expectations and the project has the potential to be one of America's largest."

In a separate interview with The Northern Miner, Lamb noted that Wyoming continues to be an active jurisdiction for uranium development in the United States. The state hosts several operating in-situ recovery facilities, possesses substantial licensed production capacity, and benefits from experienced regulatory oversight of uranium projects.

The successful earn-in allows Myriad to advance toward a joint-venture arrangement with Rush Rare Metals while continuing an aggressive exploration programme at Copper Mountain throughout the coming field season. Detailed assay results from the latest drilling campaign are expected to be released progressively in the near term.

Market interest in North American uranium projects has grown in recent periods amid increasing focus on secure, domestic supply chains for nuclear fuel. Myriad stated that Copper Mountain's combination of historical data, recent drilling success, and favourable location positions it as a significant development opportunity within the continental United States.