Rush Rare Metals Adds 1,400 Acres to Its Copper Mountain Project

VANCOUVER, BC / ACCESSWIRE / April 24, 2024 / Rush Rare Metals Corp. (CSE:RSH) ("Rush" or the "Company") is pleased to announce that it has added three new and highly prospective areas totalling 1,398 acres to the Copper Mountain Project (hereinafter "Copper Mountain" or the "Property"), which areas now join the original area subject to an earn-in agreement with Myriad Uranium Corp. (hereinafter "Myriad"). More details surrounding these new areas are provided below.

On October 18, 2023, Rush signed a property option agreement with Myriad pursuant to which Myriad has the option (the "Option") to earn up to a 75% interest in and to Rush's Copper Mountain Project, now covering approximately 4,200 acres near Riverton, Wyoming. To earn its 75% interest, Myriad must make expenditures on the Property and make share payments to Rush, and in addition Rush will retain a favourable split on early production (see previous Rush news release dated October 20, 2023 for full details).

Rush and Myriad have been conducting a comprehensive review of a cache of recently found historical documents indicating tens of millions of dollars in previous exploration work conducted at Copper Mountain, much of it by Union Pacific prior to 1980. The review is ongoing, but Myriad released an interim update referenced in a Rush news release dated November 1, 2023. The newly discovered documents include historical resource estimates, mining feasibility studies, geological reports, mining plans, drill logs, and a wealth of other highly useful data. This data has, in turn, provided enormous benefit to Myriad, allowing them to focus efforts on areas previously acknowledged to have the highest grades of uranium and to conduct advanced investigation into new areas that might otherwise have been considered as purely greenfield.

Also based on this data cache, additional areas around Copper Mountain, deemed by previous operators such as Union Pacific to be prospective based on drilling and other exploration work, have been identified by Myriad and Rush and, in turn, added to the Property area. The three most recently added areas are as follows:

• The Midnight claim area, secured by way of staking new claims, adding 798 acres to the Copper Mountain claim area as shown in Figure 1 below and as further described in Myriad's news release of April 15, 2024.
• The historic Bonanza and Kermac/Day uranium mines, secured by way of staking new claims, adding 280 acres to the Copper Mountain claim area as shown in Figure 2 below, and as further described in Myriad's news release of April 19, 2024.
• Additional key grounds expanding control around the Canning area, secured by executing a 20-year mining lease, adding a further 320 acres as shown in Figure 3 below, and as described in Myriad's new release of April 22, 2024.

Foto: Accesswire