Myriad Uranium Enters Binding Letter of Intent to Merge with Rush Rare Metals Corp.

Vancouver, British Columbia--(Newsfile Corp. - January 8, 2026) - Myriad Uranium Corp. (CSE: M) (OTCQB: MYRUF) (FSE: C3Q) ("Myriad" or the "Company") is pleased to announce that it has entered into a binding and updated letter of intent (the "LOI") dated January 7, 2026 with Rush Rare Metals Corp. ("Rush"), in relation to a proposed merger transaction (the "Merger") under which Myriad would acquire 100% of the issued and outstanding common shares of Rush (the "Rush Shares") pursuant to a statutory plan of arrangement (the "Arrangement"). This binding and updated LOI follows the previously announced non-binding LOI announced on August 6, 2025 which expired in October 2025, and reflects the ongoing belief of both parties that a merger of the companies is in their mutual best interests.

Under the terms of the LOI, Myriad will acquire all of the Rush Shares by issuing one Myriad common share (each, a "Myriad Share") for every 1.85 Rush Shares issued and outstanding, resulting in an exchange ratio of one (1) Rush Share to 0.5405 Myriad Shares (the "Exchange Ratio"). In addition, all of Rush's convertible securities would cease to be exercisable for Rush Shares and would instead be exercisable for Myriad Shares, with appropriate adjustments made to reflect the Exchange Ratio under the Arrangement.

Based on the Closing Prices on the Canadian Securities Exchange ("CSE") of C$0.425 per Myriad Share and C$0.195 per Rush Share on January 6, 2025, the last business day prior to the date of execution of the LOI, the Exchange Ratio represents a premium to Rush shareholders of 18%. Based on a 20-day Volume Weighted Average Price ("VWAP") for the 20 business days prior to the execution of the LOI, the Exchange Ratio represents a premium to Rush shareholders of 22%.

As previously announced, Rush will create a subsidiary ("Rush Spinco") to which it will transfer all of its right, title and interest in and to its Boxi Property in Quebec, and as part of the Arrangement, shareholders of Rush as of the effective date and time of the completion of the Merger would receive shares of Rush Spinco, in addition to the Myriad Shares they will receive under the proposed Merger. Myriad's focus is wholly on achieving 100% ownership of Copper Mountain Uranium Project in Wyoming and continuing to unlock its value and the value of its Red Basin Project in New Mexico as quickly and efficiently as possible.