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In the latest close session, Macy's (M - Free Report) was up +2.23% at $22.42. The stock outperformed the S&P 500, which registered a daily gain of 0.46%. Elsewhere, the Dow gained 0.56%, while the tech-heavy Nasdaq added 0.45%.

Shares of the department store operator witnessed a loss of 16.33% over the previous month, trailing the performance of the Retail-Wholesale sector with its loss of 3.73%, and the S&P 500's gain of 2%.

The investment community will be closely monitoring the performance of Macy's in its forthcoming earnings report. The company is scheduled to release its earnings on September 10, 2026. The company's upcoming EPS is projected at $0.37, signifying a 9.76% drop compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $4.82 billion, indicating a 0.16% increase compared to the same quarter of the previous year.

For the full year, the Zacks Consensus Estimates are projecting earnings of $2.22 per share and revenue of $21.77 billion, which would represent changes of -4.31% and +0.05%, respectively, from the prior year.

Investors should also take note of any recent adjustments to analyst estimates for Macy's. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.

Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.37% higher. Macy's currently has a Zacks Rank of #2 (Buy).

Looking at its valuation, Macy's is holding a Forward P/E ratio of 9.87. This signifies a discount in comparison to the average Forward P/E of 13.77 for its industry.

The Retail - Regional Department Stores industry is part of the Retail-Wholesale sector. With its current Zacks Industry Rank of 9, this industry ranks in the top 4% of all industries, numbering over 250.

The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.

Vancouver, British Columbia--(Newsfile Corp. - August 20, 2026) - Myriad Uranium Corp. (CSE: M) (OTCQB: MYRUF) (FSE: C3Q) ("Myriad" or the "Company") is pleased to announce preliminary gamma probe equivalent uranium results from drilling at Lucky Cliff, Copper Mountain (see Figure 1). These estimates are not chemical assays and remain subject to laboratory verification.

Highlights

Myriad's current Phase II drill program is designed to achieve two primary objectives:

Verify mineralization that underpins a historical resource estimate1 of 26.63 Mlbs eU₃O₈ and generate modern data to support a future maiden mineral resource estimate.

Evaluate exploration upside by testing historical targets identified through drilling in the 1970s and assessing new targets generated by Myriad's own exploration work, that could deliver an exploration target2 of between 245 and 655 Mlbs eU₃O₈.

Myriad has now completed four drill holes at Lucky Cliff for a total of 716.6 metres (2,351 feet) of drilling.

All four holes intersected numerous broad intervals of near-surface uranium mineralization.

Across the four holes, 50 mineralized intervals exceed 100 ppm eU₃O₈.

The longest mineralized interval is 19.96 metres (65.49 feet) at 269 ppm eU₃O₈ from 18 m.

The highest grade intercepted is 1,336 ppm eU₃O₈.

Because Lucky Cliff lies outside any area with a historical resource or endowment estimate, any mineral resource that may in future be defined there would be new and incremental to the Copper Mountain Uranium Project mineral endowment, if supported by sufficient exploration and estimation work.

Best Intervals Above 100 ppm eU₃O₈ Threshold

Hole IDFrom (m)To (m)Length (m)eU₃O₈ (ppm)eU₃O₈ (%)GT (m%)¹Peak (ppm)LUC0001DD118.46130.8012.341580.0160.19314LUC0002DD29.6134.494.881390.0140.07255LUC0002DD36.6241.194.572000.0200.09399LUC0002DD45.1651.566.404080.0410.261,034including46.6846.980.306650.0670.02-including47.5948.661.078210.0820.09-including48.9749.270.305990.0600.02-LUC0002DD85.08100.6315.541790.0180.28281LUC0003DD18.9421.692.743890.0390.111,109LUC0003DD28.5431.142.592530.0250.07437LUC0003DD33.2740.747.471860.0190.14361LUC0004DD18.0037.9619.962690.0270.541,336including26.9928.971.988660.0870.17-including34.9135.670.766480.0650.05-LUC0004DD58.2361.893.662590.0260.09522¹ GT (m%) = grade-thickness product (interval length in metres multiplied by grade in %), a standard metric for comparing the relative scale of mineralized intercepts.Equivalent uranium (eU₃O₈) grades are radiometric estimates derived from downhole gamma logging and are not chemical assays. They are preliminary, may be affected by disequilibrium, borehole diameter, casing, water, probe calibration and other borehole conditions, and will be verified by laboratory assay results. Verification will include standard QAQC protocols such as the insertion of blanks, standards (Certified Reference Materials) and duplicates as well as the implementation of chain of custody procedures.The intervals above are selected preliminary radiometric intervals reported above a 100 ppm eU3O8 threshold and are intended to highlight the most material intercepts by length, grade and grade-thickness. They should be read together with Appendix 1, which provides the full interval summaries at the stated reporting thresholds.Reported intervals are downhole lengths and do not represent true widths, which have not yet been determined. Myriad's CEO, Thomas Lamb, commented: "These are encouraging preliminary radiometric results from a new area in the north of our recently expanded Copper Mountain Project Area and outside historical estimate boundaries. Mineralization occurs at shallow depths with some remarkably long intervals. All four boreholes encountered significant equivalent uranium mineralization. While the grades are typically not as high as we saw at Canning during Phase I, they are generally well above average historical grades for the Copper Mountain Project, and the intervals are much longer and shallower than we saw at Canning. We currently see 50 intervals above 100 ppm eU3O8, several of them quite long (the longest being 19.96 m (65.49 ft) at 269 ppm from 18 m) with a peak grade of 1,336 ppm eU3O8. These estimates remain subject to confirmation by chemical assay and may increase or decrease once disequilibrium, borehole conditions, and laboratory results are assessed. During our Phase I drilling at Canning reported here, chemical assays reported were higher than downhole gamma probe grades by an average of 50% above 500 ppm and 60% above 1,000 ppm. However, the relationship between radiometric equivalent grades and assay grades at Lucky Cliff has not yet been established, and no similar adjustment should be assumed for Lucky Cliff until assay results are received and assessed. Regardless, we consider these to be excellent preliminary results. Because Lucky Cliff sits outside the northern boundary of the Bendix Assessment Area (see Figure 1 and the assessment reported here), and entirely outside any area with a historical uranium resource or endowment estimate, any resource ultimately estimated there will be entirely new and incremental to the Copper Mountain Uranium Project, if supported by sufficient exploration and estimation work."

Lucky Cliff

The Lucky Cliff target area is located about 2,000 metres (6,500 feet) north of the Canning deposit, along the Myrtle's Fault trend. Lucky Cliff was explored by Union Pacific in the late 1970s, but the data was insufficient for the estimation of mineral resources and does not form part of the historical 26.63 Mlb eU3O8 estimate reported by Union Pacific at the time (see note on Historical Estimates below). It also falls outside of the Bendix Assessment Area, which was estimated to contain an Exploration Target of between 245 and 655 Mlbs contained within 1,111 Mt to 2,971 Mt (at 100 ppm eU3O8) and 222 Mt to 594 Mt (at 500 ppm eU3O8), as described here and in the NI 43-101 Technical report. The potential quantity and grade of the Exploration Target are conceptual in nature, there has been insufficient exploration to define a mineral resource, and it is uncertain whether further exploration will result in the Exploration Target being delineated as a mineral resource.

The target area was selected by Union Pacific as a drill target on the basis of favourable geological and geochemical criteria. Several strong N45°E structural trends are present, and the associated rock types are similar to those found at other mineralized occurrences in the project area. A close-spaced (500-foot center) stream sediment sampling program undertaken by Union Pacific identified several highly anomalous (to 118 ppm) zones, and follow-up work was designed to test these anomalies. Ground-truthing of radiometric anomalies by Myriad following the helicopter survey completed late last year identified one point above the target area with a surface measurement of 193.2 ppm eU, using a calibrated RS-230 Handheld Gamma-Ray Spectrometer. Handheld spectrometer readings are preliminary and indicative only, may be affected by environmental and geometric factors, are not assay results, do not measure eU3O8 directly, and may not be representative of uranium concentrations in rock samples.

At least twenty holes were drilled by Union Pacific in the late 1970s, and at least 10 holes were reported to have intersected mineralization in excess of 100 ppm eU3O8 from depths as shallow as 6 m (20 ft). LK-9 was reported to have intersected 355 ft of 0.027% eU3O8 starting at 59 ft, including 207 ft of 0.032% eU3O8. LK-11 was reported to have intersected 31 ft of 0.020% at 21.5 ft and 59.5 ft of 0.025% at 83.5 ft. Other reported intersections in this target area included 15.5 ft of 0.055% eU3O8 at 55 ft in hole LK-10. Higher grades were reported to be associated with a mafic dyke intruding the main fault zone through the target area. Reported widths are historical downhole widths and true widths are unknown. Equivalent ("e") uranium grades were determined by AEC gamma probes using appropriate calibration factors. No original assay certificates, complete QAQC records, probe calibration records or full original datasets have been reviewed by the Company or the Qualified Person for these historical drill results, and the results should not be relied upon as current exploration results. There is no historical mineral resource estimate for Lucky Cliff.

Myriad selected borehole positions to coincide with similar historical Union Pacific hole positions (the exact historical hole positions are not marked on surface). Thus, LUC0001DD coincides with LK-10; LUC0002DD coincides with LK-9; LUC0003DD coincides with LK-11; and LUC0004DD coincides with LHC-42 (Table 1 and Figure 1). Mineralized intervals for these holes are documented in historical reports, as mentioned above, but original data is not available for verification. Furthermore, only the most significant intervals were mentioned in the historical reports, and no comprehensive summary of intervals is available. Therefore, direct comparison of new and historical grade intervals is not possible.

Table 1: Drilled location details at Lucky Cliff

Borehole IDXYInclinationAzimuthTD (m)TD (ft)LUC0001DD2682344811962-900152.7501LUC0002DD2681064812026-900158.8521LUC0003DD2681324811885-900153.0502LUC0004DD2679914811749-900252.1827Coordinate System: WGS84 UTM13N

Figure 1: Drilled locations at Lucky Cliff

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6301/310576_2e8b7d4294216ac4_002full.jpg

Downhole Logging

Downhole logging was undertaken by Century Geophysical (Century), a respected downhole probe manufacturer and logging company based in Tulsa, Oklahoma and in business since 1946. Century deployed their "Uranium E-Log Suite", which includes Natural Gamma Ray, Resistivity, Spontaneous Potential (S.P.) and Deviation probes. Borehole deviations were additionally measured using a Gyro Deviation tool, which is unaffected by magnetic influence. Century delivered data in electronic format for each hole including log plots and calculated equivalent uranium grades.

Equivalent Uranium Grade Calculations

Century uses its OREGRADE system to convert raw gamma-ray logs into uranium grade estimates expressed as eU3O8. The process relies on a trial-and-error iterative deconvolution algorithm to model the distribution of radioactivity from gamma-ray log data. Raw gamma counts are normalized and corrected for borehole conditions by applying dead time correction, geometric multipliers for area-based K-factors and linear depth, and environmental corrections such as water factor below the water table and casing factor within cased sections. The system uses synthetic log creation and iterative interval calculations to estimate eU3O8 grades over 15 cm (0.5 foot) intervals. The final output is a grade curve and a printed report that identifies distinct zones and calculates cut-off analyses and best intervals based on grade-thickness product. These estimates remain subject to the limitations of gamma logging and confirmation by laboratory assays.

Historical Resource Estimates

The historical estimate of 26.63 Mlbs eU₃O₈ in 44.1 Mt at 171 ppm eU₃O₈, using a 100 ppm cut-off, was compiled from internal Rocky Mountain Energy Company reports, which are summarised in a report titled "Copper Mountain Exploration Project Report" by Southard, G.G., et. al. (1979). A Qualified Person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves, and Myriad is not treating the historical estimate as current mineral resources or mineral reserves.

The historical estimates were completed using polygonal methods based on modelled mineralization geometries. The historical estimates used U.S. Bureau of Mines categories at the time, including terms described as "Inferred" and "Indicated," which are not current CIM terminology and should not be interpreted as current mineral resource categories. Details of the historical resource estimates are available in the current NI 43-101 Technical Report. While the QP has determined that the historical estimates described in this news release are relevant to the Copper Mountain Project Area, are reasonably reliable given the authors and circumstances of their preparation, and are suitable for public disclosure, the estimates are decades old and based on drilling data for which the logs are, as of yet, predominantly unavailable. Readers are cautioned not to place undue reliance on these historical estimates as an indicator of current mineral resources or mineral reserves at the Project Area. Also, while the Copper Mountain Project Area contains all or most of each deposit referred to, some of the resources referred to may be located outside the current Copper Mountain Project Area.

Inherent limitations of the historical estimates include that the nature of mineralization (fracture hosted) makes estimation from drill data less reliable than other deposit types (e.g. those that are thick and uniform). From Myriad Uranium's viewpoint, limitations include that the Company has not been able to verify the original data itself and that the estimates may be optimistic relative to subsequent work which applied a "delayed fission neutron" (DFN) factor to calculate grades. On the other hand, DFN is controversial, in that the approach is viewed by some experts as too conservative. Nevertheless, it was applied in later resource estimations by Union Pacific relating to Copper Mountain. To verify the historical estimates and re-state them as current resources, a program of re-drilling is required to generate new data that can be used to establish the correlation and continuity of geology and grades between boreholes with sufficient confidence to estimate mineral resources.

Qualified Person

The scientific and technical information in this news release, including the eU3O8 methodology and historical disclosure, has been reviewed and approved by George van der Walt, MSc., Pr.Sci.Nat., FGSSA, a "Qualified Person" as defined under NI 43-101. Mr. van der Walt is a Principal Consultant with The MSA Group (Pty) Ltd, an independent consultancy, and is independent of the Company for the purposes of NI 43-101. A Qualified Person has not done sufficient work to verify historical exploration results or to classify the historical estimates referred to in this news release as current mineral resources or mineral reserves, and Myriad is not treating such historical estimates as current mineral resources or mineral reserves.

About Myriad Uranium Corp.

Myriad Uranium Corp. holds a 75% interest in the Copper Mountain Uranium Project in Wyoming, USA, with a definitive agreement in place to acquire the remaining 25% via the acquisition of Rush Rare Metals Corp. Copper Mountain hosts multiple historical uranium deposits and past-producing mines, including the Arrowhead Mine (approximately 500,000 lbs U₃O₈ produced). Union Pacific conducted extensive exploration and development in the district during the late 1970s, including approximately 2,000 boreholes and advanced mine planning, before the uranium market downturn in 1980. Union Pacific is estimated to have invested approximately C$125 million (2026 dollars) in the project, generating significant historical resource estimates.

A news release detailing a comprehensive assessment of Copper Mountain's uranium endowment by Bendix Engineering for the US Department of Energy published in 1982 can be viewed here.

Myriad holds a 10% free carried interest in the Red Basin Uranium Project, recently sold to 8VC- and Overmatch-backed Subatomic Industries. Red Basin carries significant historical resource estimates from extensive drilling by Occidental Oil in the late 1970s, and also hosts vanadium, which has been designated a strategic and critical mineral by the U.S. government. Note the caution on historical estimates below.

Myriad's 100%-owned Breccia Pipe Project in Arizona comprises at least 23 breccia pipes that are prospective for uranium and REEs. One of the pipes, the Wate Pipe, was previously owned and explored by Energy Fuels and is the subject of a historical resource estimate. The Breccia Pipe Project has been optioned to Wedgemount Resources (release here).

Note: A qualified person has not done sufficient work to classify the Copper Mountain, Red Basin, and Breccia Pipe Project historical estimates as current mineral resources or mineral reserves, and Myriad is not treating those historical estimates as current mineral resources or mineral reserves. Myriad intends to conduct further work to determine whether the historical estimates can be verified and, if appropriate, supported by current mineral resource estimates.

Forward-Looking Statements

This news release contains "forward-looking information" that is based on the Company's current expectations, estimates, forecasts and projections. This forward-looking information includes, among other things, the Company's business, plans, outlook and business strategy. The words "may", "would", "could", "should", "will", "likely", "expect," "anticipate," "intend", "estimate", "plan", "forecast", "project" and "believe" or other similar words and phrases are intended to identify forward-looking information. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect, including with respect to the Company's business plans respecting the exploration and development of the Company's mineral properties, the proposed work program on the Company's mineral properties and the potential and economic viability of the Company's mineral properties. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: inability to verify historical data, no assurance of defining mineral resources, permitting, drilling delays and changes in economic conditions or financial markets; increases in costs; litigation; legislative, environmental and other judicial, regulatory, political and competitive developments; and technological or operational difficulties. This list is not exhaustive of the factors that may affect our forward-looking information. These and other factors should be considered carefully, and readers should not place undue reliance on such forward-looking information. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by applicable law. The CSE has not reviewed, approved or disapproved the contents of this news release.

APPENDIX 1: Preliminary eU3O8 Grade Interval Summaries at 100, 200 and 500 ppm thresholds
Reported intervals are downhole lengths; true widths have not yet been determined.

100 ppm (minimum interval 0.91 metre / 3 feet)Hole IDFrom (m)To (m)Length (m)eU3O8 (ppm)eU3O8 (%)GT (m%)LUC0001DD18.4920.311.831760.0180.03LUC0001DD21.0821.990.911550.0150.01LUC0001DD25.0425.950.911900.0190.02LUC0001DD36.0136.930.911070.0110.01LUC0001DD38.3039.971.681600.0160.03LUC0001DD45.4648.362.901530.0150.04LUC0001DD53.2354.761.521520.0150.02LUC0001DD57.8158.570.761530.0150.01LUC0001DD59.6361.621.981360.0140.03LUC0001DD67.5670.302.741470.0150.04LUC0001DD77.4678.991.521370.0140.02LUC0001DD103.37104.290.911460.0150.01LUC0001DD105.20107.792.591120.0110.03LUC0001DD118.46130.8012.341580.0160.19LUC0002DD21.6923.521.831750.0180.03LUC0002DD29.6134.494.881390.0140.07LUC0002DD36.6241.194.572000.0200.09LUC0002DD43.3343.940.611520.0150.01LUC0002DD45.1651.566.404080.0410.26LUC0002DD66.8068.171.371200.0120.02LUC0002DD72.1375.183.051380.0140.04LUC0002DD79.4580.821.371550.0150.02LUC0002DD83.4184.631.221580.0160.02LUC0002DD85.08100.6315.541790.0180.28LUC0002DD101.09103.982.901540.0150.04LUC0002DD105.35107.341.981460.0150.03LUC0002DD113.89114.650.761180.0120.01LUC0002DD129.59132.182.591200.0120.03LUC0002DD138.58140.411.831820.0180.03LUC0003DD11.7812.540.761210.0120.01LUC0003DD18.9421.692.743890.0390.11LUC0003DD25.5026.110.611350.0140.01LUC0003DD28.5431.142.592530.0250.07LUC0003DD33.2740.747.471860.0190.14LUC0003DD48.3649.581.221050.0100.01LUC0003DD57.0457.960.911240.0120.01LUC0003DD58.5759.941.371200.0120.02LUC0003DD68.6371.372.741220.0120.03LUC0003DD76.8677.620.761120.0110.01LUC0004DD18.0037.9619.962690.0270.54LUC0004DD55.0356.251.221910.0190.02LUC0004DD58.2361.893.662590.0260.09LUC0004DD62.6564.942.291860.0190.04LUC0004DD66.6168.291.681220.0120.02LUC0004DD85.3686.270.911170.0120.01LUC0004DD88.1088.860.761630.0160.01LUC0004DD89.3291.151.831380.0140.03LUC0004DD189.75190.670.911140.0110.01LUC0004DD206.67207.430.761240.0120.01LUC0004DD249.34250.100.761370.0140.01200 ppm Cut-off (minimum interval 0.3 metre / 1 foot)Hole IDFrom (m)To (m)Length (m)eU3O8 (ppm)eU3O8 (%)GT (m%)LUC0001DD18.6419.400.762520.0250.02LUC0001DD125.62126.691.072220.0220.02LUC0001DD127.76129.591.832500.0250.05LUC0002DD22.6023.210.612280.0230.01LUC0002DD33.8834.340.462450.0250.01LUC0002DD37.2337.690.462010.0200.01LUC0002DD38.6039.520.912970.0300.03LUC0002DD40.1340.580.463110.0310.01LUC0002DD46.5351.254.725010.0500.24LUC0002DD85.6986.911.222640.0260.03LUC0002DD88.8989.660.762450.0250.02LUC0002DD90.5791.490.912090.0210.02LUC0002DD93.4794.531.072470.0250.03LUC0002DD97.7398.801.072440.0240.03LUC0002DD139.03139.640.612590.0260.02LUC0003DD19.1021.382.294380.0440.10LUC0003DD28.8530.531.683160.0320.05LUC0003DD35.8636.320.463230.0320.01LUC0003DD37.8440.282.442280.0230.06LUC0004DD23.0324.251.222350.0240.03LUC0004DD24.8630.345.495080.0510.28LUC0004DD34.6135.981.374930.0490.07LUC0004DD60.5261.741.223600.0360.04500 ppm (minimum interval 0.3 metre / 1 foot)Hole IDFrom (m)To (m)Length (m)eU3O8 (ppm)eU3O8 (%)GT (m%)LUC0002DD46.6846.980.306650.0670.02LUC0002DD47.5948.661.078210.0820.09LUC0002DD48.9749.270.305990.0600.02LUC0004DD26.9928.971.988660.0870.17LUC0004DD34.9135.680.766480.0650.051 A Qualified Person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves, and Myriad is not treating the historical estimate as current mineral resources or mineral reserves. See note about historical estimates.
2 The potential quantity and grade of the Exploration Target are conceptual in nature, there has been insufficient exploration to define a mineral resource, and it is uncertain whether further exploration will result in the Exploration Target being delineated as a mineral resource.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/310576

Source: Myriad Uranium Corp.

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New Feasibility Study Shows Project Economics Including an Average Annual EBITDA2 of $608 Million, Life-of-Mine Revenue of $37.4 Billion with a Pre-Tax NPV8% of $4.1 Billion (After-Tax NPV8% of $3.4 Billion) and Pre-Tax IRR of 24% (After-Tax IRR of 22.8%)

Expanded Product Mix is Expected to Generate Revenue of $815/Ton of Ore Against Average Operating Costs of $255/Ton, Creating a More Robust and Diversified Revenue Profile

Proven and Probable Mineral Reserves of 45.9 Million Tons Support a 40-Year Operating Mine Life, with Additional Mineral Resources Providing Potential for Future Expansion

NioCorp's Integrated Mine and Processing Plant in Nebraska Expected to Reduce U.S. Import Reliance on Eight Different Imported Critical Minerals: Ferroniobium, Scandium Trioxide, Titanium Tetrachloride, Terbium Oxide, Dysprosium Oxide, NdPr Oxide, SEG Carbonate, and Heavy Rare Earth Carbonate

Diversified Revenue Stream Expected to Reduce NioCorp's Exposure to Market Concentration, Export Controls, and Pricing Volatility Associated with China-Dominated Supply Chains

Upfront Capital Estimate of $1.85 Billion Reflects a Substantially Redesigned Processing Plant and Mining Operation Producing Eight Critical Minerals and Significant Inflationary Impacts Since the Previous Feasibility Study

Completion of NioCorp's Feasibility Study Will Satisfy a Key U.S. Export-Import ("EXIM") Bank Due Diligence Requirement; Company Now Expects to Advance to the Next Step of Detailed Engineering and Engineering, Procurement and Construction ("EPC") Contracting

NioCorp to Host Live Investor Webcast on Tuesday, August 11 at 10:00 AM ET. Register Here to Participate.

CENTENNIAL, CO / ACCESS Newswire / August 10, 2026 / NioCorp Developments Ltd. ("NioCorp" or the "Company") (NASDAQ:NB) is pleased to report the results of an updated Feasibility Study (the "2026 Feasibility Study") for its Elk Creek Critical Minerals Project (the "Elk Creek Project") outlining the project's evolution into a 40-year, integrated U.S. operation with a Net Present Value exceeding $4 billion that is expected to produce eight critical-mineral products from a single ore body.

The 2026 Feasibility Study estimates a pre-tax net present value at an 8% discount ("NPV8%") of $4.1 billion, an after-tax NPV8% of $3.4 billion, a pre-tax Internal Rate of Return ("IRR") of 24% and an after-tax IRR of 22.8%. Over the projected mine life, the Elk Creek Project is projected to generate approximately $37.4 billion in life-of-mine ("LoM") revenue, $608 million in average annual EBITDA2, and $519 million in average annual operating cash flow.

The Elk Creek Project is expected to produce eight products, all designated by the U.S. Government as critical minerals: ferroniobium ("FeNb"), scandium trioxide ("Sc2O3"), titanium tetrachloride ("TiCl4"), and several rare earth oxide products, including neodymium-praseodymium oxide ("NdPr"), dysprosium oxide ("Dy") and terbium oxide ("Tb"), samarium-europium-gadolinium ("SEG") carbonate, and heavy rare earth carbonate. This expanded product suite creates a more diversified revenue profile while positioning the Elk Creek Project to serve multiple U.S. critical-mineral and defense supply chains from an integrated mine and processing facility that has secured its major construction-related permits.

A technical report summarizing the 2026 Feasibility Study (the "2026 Technical Report") was prepared in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") for the Company by Dahrouge Geological Consulting Ltd. and the other Qualified Persons and has been filed on SEDAR+. The 2026 Technical Report can be accessed here.

"Our 2026 Feasibility Study transforms the Elk Creek Project into the kind of critical minerals project the United States needs to have online as soon as possible," said Mark A. Smith, CEO and Executive Chairman of NioCorp. "Few critical minerals projects in the U.S. can match the Elk Creek Project's combination of a 40-year mine life, all major construction-related permits already in hand, and the planned production of eight critical mineral products from a single ore body."

"The United States is heavily reliant on imports for every single one of the products that NioCorp plans to manufacture," Mr. Smith said. "NioCorp offers an American-made solution: secure, long-term domestic production of materials essential to national defense, advanced manufacturing, energy resilience, and the technologies that will power the U.S. economy for decades to come."

"For NioCorp, this feasibility study delivers a larger, stronger, and more highly de-risked project," he added. "Eight products give us access to more markets, create multiple and highly diversified revenue streams, and reduce our exposure to the price of any one critical mineral. Combined with stronger economics and a 40-year mine life, we are now in a much stronger position to advance detailed engineering and project financing. Our job now is to turn this highly unique and important opportunity in Nebraska into a new source of American jobs, industrial strength, and critical mineral security right here at home."

A Diversified, Long-Life, Eight-Product Operation

The 2026 Feasibility Study's updated economics incorporate the expanded product offering, revised mine and processing design, an updated Mineral Resource and Mineral Reserve and current capital and operating cost estimates. Key economic results are summarized in Table 1 below.

Table 1: Highlighted 2026 Elk Creek Project Feasibility Study Economic Results

2026 Elk Creek Feasibility Study Economic Results

Project Economics*

Pre-Tax NPV8% ($M)

$4,111

Pre-Tax IRR

24%

After-Tax NPV8% ($M)

$3,441

After-Tax IRR

22.8%

After-Tax Payback Period (years)

2.93

Total Upfront CAPEX ($M)3

$1,849

Mine Life (years)

40

LoM Gross Revenue ($M)

$37,435

Niobium

$9,780

Scandium

$14,331

Titanium

$3,945

TREOs

$9,378

NdPr Oxide

$3,255

Dy Oxide

$3,137

Tb Oxide

$2,827

SEG Carbonate

$113

Heavy Rare Earth Carbonate

$46

Average Annual EBITDA2 over LoM ($M)

$608

Average EBITDA Margin2 over LoM (EBITDA as % of total revenue)

67%

Average Annual Operating Cash Flow over LoM ($M)

$519

Average Revenue Per Ton, LoM (US$/t)

$815

Average Annual Operating Cost, LoM (OPEX) (US$/t)

($255)

Effective Tax Rate

14.3%

Development Timeline (months)

35

LoM Average Production (Tons/year)

Ferroniobium

8,095

Scandium Oxide

118

Neodymium-Praseodymium Oxide

672

Terbium Oxide

17

Dysprosium Oxide

67

SEG Carbonate

354

Heavies Carbonate

262

Titanium Tetrachloride

59,820

* Considers average realized prices of $23.80/lb FeNb, $1,563/lb Sc2O3, $0.85/lb TiCl4, $62.78/lb NdPr Oxide, $592.23/lb Dy Oxide, $2,048.14/lb Tb Oxide, $4.06/lb SEG Carbonate, $2.29/lb Heavy Rare Earth Carbonate

A Diversified Domestic Source of Critical Minerals in a Bifurcated Market

The addition of five rare-earth products materially changes the Elk Creek Project's revenue profile. Based on the 2026 Feasibility Study assumptions, no single product category is expected to account for more than 39% of revenue. This broader product mix gives the Elk Creek Project exposure to multiple critical-mineral markets, reduces its dependence on the pricing of any one product, and provides greater resilience against volatility or disruption in any single market.

Figure 1: Gross Revenue Breakdown (2022 Feasibility Study vs. 2026 Feasibility Study)

Figure 2: Gross Revenue, OPEX, and Gross Margin per Ton (2022 Feasibility Study vs. 2026 Feasibility Study)

The markets and pricing for scandium and the rare-earth products to be produced at the Elk Creek Project have become increasingly bifurcated between China and the rest of the world. China dominates global production and processing of these materials, but export restrictions on scandium and several heavy rare earths have constrained the availability of Chinese material to customers outside the country, contributing to materially higher prices in non-China markets. At the same time, demand is expanding across several high-growth sectors. For example, scandium is used in solid oxide fuel cells, which are increasingly being deployed to provide reliable, on-site power for energy-intensive artificial intelligence data centers, while neodymium, praseodymium, dysprosium and terbium are essential to the high-performance permanent magnets used in critical defense systems, electric vehicles, advanced automation, and robotics. Because the Elk Creek Project is expected to produce these materials in the United States for customers seeking a secure supply outside China, the economic model prepared for the 2026 Feasibility Study reflects pricing in the non-China markets that the Elk Creek Project is designed to serve.

Such pricing projections are based on assumptions and are subject to various risks described in the 2026 Technical Report, including, but not limited to, risks that anticipated demand drivers for scandium relating to artificial intelligence are not sustainable, international trade restrictions resulting in pricing bifurcation between China and the rest of the world relax, or that supply of such products increases from other sources.

Refined Mineral Processing Strategy Features Substantial Upgrades and Improvements

The 2026 Feasibility Study incorporates 12 years of engineering, metallurgical testing and mine-planning work across the Elk Creek Project. The updated design improves processing efficiency and yield, reduces reagent requirements, simplifies access to the underground mine, and supports greater electrification of the project's operations.

The redesigned production process adds calcination and ammonium chloride leaching ahead of the acid-leach stage, removing a substantial portion of acid-consuming species in the ore ahead of the introduction of mineral acid and thus reducing reagent consumption throughout the circuit. The updated design also eliminates the dedicated sulfuric acid plant contemplated in the 2022 Feasibility Study and instead uses on-site acid neutralization for sulfuric acid and hydrochloric acid regeneration to recover and reuse reagents.

Ongoing construction of the mine portal is establishing the future access point to the Elk Creek Project underground operations. From the mine portal, twin ramps will provide access from the surface to the ore body, replacing the twin shafts contemplated in the 2022 Feasibility Study and enabling the use of the Railveyor™ system for ore movement and electric underground haulage. NioCorp also plans to develop an on-site, behind-the-meter microgrid to supply a majority of the Elk Creek Project's electricity, eliminating reliance on the regional grid, and providing a reliable source of power over the operating life. Together, these changes are expected to improve project execution and operating efficiency.

Figure 3: 2026 Elk Creek Project Underground Mine Design (Cross Section View)

Updated Mineral Reserves Support a Long-Life Operation

The 2026 Feasibility Study establishes a larger and higher-confidence Mineral Reserve that supports a long-life operation at Elk Creek. As of April 2, 2026, the Elk Creek Mineral Reserve totals 45.9 million tons, comprising 7.6 million tons of Proven and 38.4 million tons of Probable Mineral Reserves. The 2026 estimate introduces a Proven Mineral Reserve for the first time, and for the first time includes rare earth elements in the Reserve, supporting the project's expanded suite of eight critical mineral products. The Reserve now supports a mine life of 40 years.

Table 2: Underground Mineral Reserves Estimate for Elk Creek, Effective Date April 2, 2026

Classification

Tonnage

Nb2O5 Grade (%)

FeNb (t)

Payable Nb (t)

TiO2 Grade (%)

Payable TiCl4 (t)

Sc Grade (ppm)

Payable Sc2O3 (t)

TREO Grade (ppm)

Payable TREO (t)

Proven

7,570,098

0.76

53,651

34,873

2.70

405,938

71.5

762

3,232

22,509

Probable

38,359,365

0.76

271,386

176,401

2.67

2,036,334

68.8

3,717

3,489

123,115

Total

45,929,462

0.76

325,038

211,274

2.68

2,442,272

69.3

4,479

3,446

145,625

See accompanying notes to this table in the Appendix of this press release.

The updated 2026 Mineral Resource estimate introduces a Measured category of 21.7 million tons, reports Indicated Mineral Resources of 187.4 million tons, and reports Inferred Mineral Resources of 169.2 million tons. The growth in the Mineral Resource, driven by additional drilling completed in 2025, suggests exploration and expansion potential that is not included in the current mine plan or economic analysis.

Table 3: Elk Creek Mineral Resource Estimate - Effective January 9, 2026

Classification

Cut-off NSR (US$/t)

Tonnage (Mt)

Nb₂O₅ (%)

TiO₂ (%)

Sc (g/t)

TREO (%)

Measured

218

21.7

0.61

2.46

69.1

0.35

Indicated

218

187.4

0.50

2.36

59.85

0.36

Measured + Indicated

218

209.1

0.51

2.38

60.81

0.36

Inferred

218

169.2

0.38

2.14

51.02

0.39

See accompanying notes to this table in the Appendix of this press release.

Potential for EXIM Financing Support

NioCorp continues to work with EXIM to advance the Elk Creek Project through EXIM's due diligence and loan application process. The completion of the 2026 Feasibility Study satisfies a key EXIM due diligence requirement reflected in the preliminary project letter that the Company received from EXIM in April 2024 (the "PPL"), and the Company now expects to advance to the next steps of the process relating to detailed engineering, procurement and construction contracting. The PPL included an indicative term sheet, which left open the total estimated amount of EXIM bank support and provided that the amount of EXIM financing that could be made available for the Elk Creek Project will be scaled based on the number of U.S. jobs supported, both during construction and over the life of EXIM's financing, subject to certain expectations regarding the ratio of debt-to-equity financing for the Elk Creek Project. The Company believes that the updated 2026 Feasibility Study, with its updated economic model, Mineral Resource and Mineral Reserve estimates, and increased job creation projections, demonstrates that the Elk Creek Project satisfies the criteria for increased EXIM financing as contemplated by the PPL. However, NioCorp is currently unable to estimate the total amount of EXIM financing, if any, as well as how long the application process, including additional project activities identified by EXIM, may take, and there can be no assurances that NioCorp will be able to successfully negotiate a final commitment of debt financing from EXIM, on acceptable terms, or at all.

TECHNICAL REPORT AND QUALIFIED PERSONS

The following 15 independent experts, each a Qualified Person as defined by NI 43-101, have reviewed, and approved the scientific and technical information and verified the data contained in this press release, which are derived from the 2026 Feasibility Study:

Jacob Anderson, CPG, MAusIMM, Resource Geologist, Dahrouge Geological Consulting Ltd.

Trevor Mills, P.G., SME-RM, Principal Geologist, Dahrouge Geological Consulting Ltd.

Gareth Flitton, CPG, Pr.Sci. Nat, Mining Geologist, Dahrouge Geological Consulting Ltd.

Eric Larochelle, B.Eng., SMH Process Innovation

Anthony (Tony) Linton, FEC, P.Eng., IntPE (Canada), Director, Engineering & Technical Services, Dumas Contracting USA Inc.

Scott G. Britton, P.E., Amplify Mine Planning

Troy Meyer, P.E., Chief Geotechnical Quality Engineer, BBA Consultants International LP, Tierra Group/BBA (formerly Tierra Group International, Ltd.)

Jason Byler, P.E., Olsson

Adrian Brown, P.E., President, Adrian Brown Consultants, Inc.

Patrick Andrieux, Ph.D., P.Eng., (ON, NT/NU), Eng. (QC), Principal Engineer, Andrieux & Associates Geomechanics Consulting, L.P.

David Winters, S.E., P.E., MBA, Senior Principal Engineer, Tetra Tech

Deepak Malhotra, Ph.D., SME (RM), DM Consulting

Sylvain Harton, P.Eng., President, Metallurgy Concept Solutions

Georgi Doundarov, M.Sc., P.Eng., PMP, CCP, CEO, Magemi Mining Inc.

B. Ting, P. Eng., MASc., T Engineering

Readers are encouraged to read the 2026 Technical Report in its entirety, including all qualifications, assumptions and exclusions that relate to the Mineral Reserve and Mineral Resource declaration. The 2026 Technical Report is intended to be read as a whole, and sections should not be read or relied upon out of context. The Mineral Resource statement for the Elk Creek Project included in this press release was prepared by Jacob Anderson, CPG, MAusIMM, Resource Geologist, Dahrouge Geological Consulting Ltd. The Mineral Reserve statement for the Elk Creek Project included in this press release was prepared under the supervision of Scott G. Britton, P.E, Amplify Mine Planning.

# # #

FOR MORE INFORMATION:

Jim Sims, Chief Communications Officer, NioCorp Developments Ltd., (720) 334-7066, [email protected]

Alex Guthrie, Director, Investor Relations, NioCorp Developments Ltd., (647) 999-0527, [email protected]

@NioCorp $NB #Niobium #Scandium #rareearth #neodymium #dysprosium #terbium #ElkCreek

ABOUT NIOCORP

NioCorp is developing the Elk Creek Project that is expected to produce niobium, scandium, and titanium and several rare earth products. Niobium is used to produce specialty alloys as well as High Strength, Low Alloy steel, which is a lighter, stronger steel used in automotive, structural, and pipeline applications. Scandium is a specialty metal that can be combined with Aluminum to make alloys with increased strength and improved corrosion resistance. Scandium is also a critical component of advanced solid oxide fuel cells. Titanium is used in various lightweight alloys and is a key component of pigments used in paper, paint and plastics and is also used for aerospace applications, armor, and medical implants. Magnetic rare earths, such as neodymium, praseodymium, terbium, and dysprosium are critical to the making of neodymium-iron-boron magnets, which are used across a wide variety of defense and civilian applications.

About Dahrouge Geological Consulting Ltd.

Dahrouge Geological Consulting Ltd. (DGC Canada), and its subsidiary, Dahrouge Geological Consulting USA Ltd. (DGC USA), advise and assist clients in identifying, exploring, and developing mineral projects. DGC manages projects of all scopes from grassroots exploration and resource delineation to pre-feasibility and feasibility level studies. Experienced project teams plan mineral projects based upon client needs, provide a detailed review of approach, and execute programs following industry-standard best practices.

FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward-looking information within the meaning of applicable Canadian securities laws (collectively "forward-looking statements"). Forward-looking statements may include, but are not limited to, statements related to the expected economics for the Elk Creek Project, including NPV, IRR, payback period, CAPEX, gross revenue, gross margin, EBITDA, operating cost and effective tax rate; future commodity price volatility and any possible reductions thereto; NioCorp's expectation that the Elk Creek Project will have over a 40-year mine life; statements regarding NioCorp's Mineral Resource and Mineral Reserve estimates; NioCorp's expectations related to the development timeline of 35 months; statements related to potential future expansion of the Elk Creek Project; NioCorp's expectation that the integrated mine and processing plan will reduce U.S. import reliance; effects on and benefits to the U.S. derived from NioCorp's future operations; NioCorp's expectation that a diversified revenue stream will reduce exposure to market concentration, export controls and pricing volatility associated with China-dominated supply chains; statements related to expected pricing for niobium, scandium, titanium and the rare earth products; statements regarding NioCorp's debt financing application process with EXIM; NioCorp's expectation of producing niobium, scandium, titanium and the rare earth products at the Elk Creek Project, including estimated production totals; NioCorp's confidence in and ability to secure sufficient project financing to complete construction of the Elk Creek Project and move it to commercial operation, as well as efforts and expenditures relating to the same; statements that demand for niobium, scandium, titanium and the rare earth products is expanding across several high-growth sectors; statements that NioCorp expects to produce its products in the United States; statements related to the expected design of the mine, including the mine portal, Railveyor™ system and behind-the-meter microgrid for electricity, as well as the expectation that these will improve project execution and operating efficiency; and trends in global geopolitics and their effects on NioCorp's operations. Forward-looking statements are typically identified by words such as "plan," "believe," "expect," "anticipate," "intend," "outlook," "estimate," "forecast," "project," "continue," "could," "may," "might," "possible," "potential," "predict," "should," "would" and other similar words and expressions, but the absence of these words does not mean that a statement is not forward-looking.

The forward-looking statements are based on the current expectations of the management of NioCorp and are inherently subject to uncertainties and changes in circumstances and their potential effects and speak only as of the date of such statement. There can be no assurance that future developments will be those that have been anticipated. Forward-looking statements reflect material expectations and assumptions, including, without limitation, expectations and assumptions relating to: NioCorp's ability to receive sufficient project financing for the construction of the Elk Creek Project on acceptable terms, or at all; the future price of and demand for metals, including Al-Sc alloy; the impact that Chinese restrictions have on pricing and demand, including the existence of a bifurcated market between China and the rest of the world; and the stability of the financial and capital markets. Such expectations and assumptions are inherently subject to uncertainties and contingencies regarding future events and, as such, are subject to change. Forward-looking statements involve a number of risks, uncertainties or other factors that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, those discussed and identified in public filings made by NioCorp with the Securities and Exchange Commission and with the applicable Canadian securities regulatory authorities, as well as those risks identified in the 2026 Technical Report, and the following: NioCorp's requirement of significant additional capital; NioCorp's ability to receive sufficient project financing for the construction of the Elk Creek Project on acceptable terms, or at all; NioCorp's ability to achieve the required milestones and receive the full $10.0 million in reimbursement under the Project Sub-Agreement with Advanced Technology International, an entity acting on behalf of the Defense Industrial Base Consortium under the authority of the U.S. Department of War; NioCorp's ability to receive a final commitment of financing from EXIM or other debt financing or financial support on acceptable timelines, on acceptable terms, or at all; NioCorp's ability to continue to meet the listing standards of The Nasdaq Stock Market LLC; risks relating to NioCorp's common shares, including price volatility, lack of dividend payments and dilution or the perception of the likelihood of any of the foregoing; the extent to which NioCorp's level of indebtedness and/or the terms contained in agreements governing NioCorp's indebtedness, if any, or other agreements may impair NioCorp's ability to obtain additional financing, on acceptable terms, or at all; covenants contained in agreements with NioCorp's secured creditors that may affect its assets; NioCorp's limited operating history; NioCorp's history of losses; the material weaknesses in NioCorp's internal control over financial reporting, NioCorp's efforts to remediate such material weaknesses and the timing of remediation; the possibility that NioCorp may qualify as a passive foreign investment company under the U.S. Internal Revenue Code of 1986, as amended (the "Code"); the potential that the business combination with GX Acquisition Corp. II and other related transactions could result in NioCorp becoming subject to materially adverse U.S. federal income tax consequences as a result of the application of Section 7874 and related sections of the Code; changes in tax laws and regulations; cost increases for NioCorp's exploration and, if warranted, development projects; a disruption in, or failure of, NioCorp's information technology systems, including those related to cybersecurity; equipment and supply shortages; variations in the market demand for, and prices of, niobium, scandium, titanium and rare earth products, including a reduction of demand for scandium from a downturn in capital spending for artificial intelligence; impacts on the markets and pricing for scandium and rare earth products from the Chinese-based markets, including any future changes to export restrictions; current and future offtake agreements, joint ventures, and partnerships, including NioCorp's ability to negotiate extensions to existing agreements or to enter into new agreements, on favorable terms or at all; NioCorp's ability to attract qualified management; estimates of mineral resources and reserves; mineral exploration and production activities; feasibility study results; the results of metallurgical testing; the results of technological research; unexpected variations in the quantity of ore, grade or recovery rates, or the presence of deleterious elements that would affect the process plant or waste removal; unexpected geotechnical and hydrogeological conditions from what was assumed in the mine designs; changes in demand for and price of commodities (such as fuel and electricity) and currencies; competition in the mining industry; changes or disruptions in the securities markets; legislative, political or economic developments, including changes in federal and/or state laws that may significantly affect the mining and scandium alloy industries; trade policies and tensions, including tariffs and other export controls; inflationary pressures; the impacts of climate change, as well as actions taken or required by governments related to strengthening resilience in the face of potential impacts from climate change; changes in other environmental and social factors; the need to obtain permits and comply with laws and regulations and other regulatory requirements; the timing and reliability of sampling and assay data; the possibility that actual results of work may differ from projections/expectations or may not realize the perceived potential of NioCorp's projects; risks of accidents, equipment breakdowns, and labor disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in development programs; operating or technical difficulties in connection with exploration, mining, development or scandium alloy production activities; management of the water balance at the Elk Creek Project site; land reclamation requirements related to the Elk Creek Project; the speculative nature of mineral exploration and development, including the risks of diminishing quantities of grades of reserves and resources; claims on the title to NioCorp's properties; the infringement or loss of NioCorp's intellectual property rights; potential future litigation; NioCorp's lack of insurance covering all of NioCorp's operations; and changes in operating and capital costs, exchange rates, metallurgical performance, labor availability and other risk associated with the mining industry.

Should one or more of these risks or uncertainties materialize or should any of the assumptions made by the management of NioCorp prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements.

All subsequent written and oral forward-looking statements concerning the matters addressed herein and attributable to NioCorp or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements contained or referred to herein. Except to the extent required by applicable law or regulation, NioCorp undertakes no obligation to update these forward-looking statements to reflect events or circumstances after the date hereof to reflect the occurrence of unanticipated events.

Non-GAAP Financial Measures

This press release includes certain forward-looking non-GAAP financial measures, including EBITDA. These non-GAAP financial measures are included in this press release because these statistics are key performance measures that management uses to monitor performance, to assess how the Company is performing, to plan and to assess the overall effectiveness and efficiency of operations. These performance measures do not have a standard meaning within GAAP and, therefore, amounts presented may not be comparable to similar data presented by other mining companies. These performance measures should not be considered in isolation as a substitute for measures of performance in accordance with GAAP. Reconciliations of these forward-looking non-GAAP financial measures to the most directly comparable GAAP financial measures are not provided because the Company is unable to provide such reconciliations without unreasonable effort, due to the uncertainty and inherent difficulty of predicting the occurrence and the financial impact of such items impacting comparability and the periods in which such items may be recognized. For the same reasons, the Company is unable to address the probable significance of the unavailable information, which could be material to future results.

SEC Standards Regarding Mineral Resources and Reserves

The scientific and technical information concerning the Elk Creek Project included in this press release has been prepared in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") and the definitions and standards adopted by the Canadian Institute of Mining, Metallurgy and Petroleum ("CIM Definition Standards").

Mining property disclosure requirements applicable to registrants in the United States are governed by Subpart 1300 of Regulation S-K ("S-K 1300"). The definitions of "mineral resource," "measured mineral resource," "indicated mineral resource," "inferred mineral resource," "mineral reserve," "proven mineral reserve" and "probable mineral reserve" under the CIM Definition Standards are substantially similar to the corresponding definitions under S-K 1300; however, differences exist between the two reporting frameworks. Accordingly, there is no assurance that Mineral Resource or Mineral Reserve estimates prepared in accordance with NI 43-101 would be identical to estimates prepared under S-K 1300.

Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. There is no certainty that all or any part of a Mineral Resource will be converted into a Mineral Reserve. Inferred Mineral Resources are subject to a high degree of uncertainty as to their existence and as to whether they can be mined economically. It cannot be assumed that all or any part of an Inferred Mineral Resource will be upgraded to an Indicated or Measured Mineral Resource or converted into a Mineral Reserve. Investors are cautioned not to assume that any part or all of the Mineral Resources reported in this press release are economically or legally mineable. As such, the conversion of reported Mineral Resources to Mineral Reserves should not be assumed, and the reclassification of reported Mineral Resources or Mineral Reserves from lower to higher levels of geological confidence should not be assumed.

APPENDIX: Mineral Resource and Mineral Reserve Data Tables

The following data tables and accompanying notes are derived from the 2026 Technical Report for the Elk Creek Project, and are subject to all of the assumptions, qualifications, and limitations included therein:

Table 4: Elk Creek Mineral Resource Estimate - Effective January 9, 2026

Classification

Cut-off NSR (US$/t)

Tonnage (Mt)

Nb₂O₅ (%)

TiO₂ (%)

Sc (g/t)

TREO (%)

Measured

218

21.7

0.61

2.46

69.1

0.35

Indicated

218

187.4

0.50

2.36

59.85

0.36

Measured + Indicated

218

209.1

0.51

2.38

60.81

0.36

Inferred

218

169.2

0.38

2.14

51.02

0.39

Source: DGC 2026

Notes:

Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. There is no certainty that all or any part of the Mineral Resource will be converted to Mineral Reserves.

Mineral Reserves are reported separately in Section 15 of the Company's 2026 Technical Report and are a subset of the total Mineral Resources reported herein.

Prepared in accordance with CIM Definition Standards (2014) and CIM Best Practice Guidelines (2019).

NSR cut-off of US$218/ton ($240/tonne) based on longhole stoping underground mining; incorporates concentration circuit recoveries of Nb 86.72%, TiO₂ 83.65%, Sc 92.00%, and REE by-products 92.00%, at metal prices of US$52.00/kg Nb, US$2,000.00/kg Sc, US$1.86/kg TiCl4, US$1,845.00/kg Tb₂O₃, US$125.00/kg NdPr, and US$8.97/kg SEG carbonate.

TREO = LREO + HREO expressed as a percentage (TREO% = TREO ppm ÷ 10,000).

Tonnages in millions of tons (Mt). Grades rounded to reflect the approximate nature of resource estimates.

Totals may not sum due to rounding.

Qualified Person: Jacob Anderson, CPG, MAusIMM, Dahrouge Geological Consulting Ltd., effective date January 9, 2026.

Table 5: Underground Mineral Reserves Estimate for Elk Creek, Effective Date April 2, 2026

Classification

Tonnage

Nb2O5 Grade (%)

FeNb
(t)

Payable Nb (t)

TiO2 Grade
(%)

Payable TiCl4
(t)

Sc Grade (ppm)

Payable Sc2O3 (t)

TREO Grade (ppm)

Payable TREO (t)

Proven

7,570,098

0.76

53,651

34,873

2.70

405,938

71.5

762

3,232

22,509

Probable

38,359,365

0.76

271,386

176,401

2.67

2,036,334

68.8

3,717

3,489

123,115

Total

45,929,462

0.76

325,038

211,274

2.68

2,442,272

69.3

4,479

3,446

145,625

Source: Amplify Mine Planning, 2026.

Notes:

All figures are rounded to reflect the accuracy of the estimates. Totals may not sum due to rounding.

The Qualified Person for the Mineral Reserve estimate is Scott G. Britton, P.E., consultant to Amplify Mine Planning. The estimate has an effective date of April 2nd, 2026.

The Mineral Reserve is based on the mine design and mine plan, utilizing an average cut-off grade of 0.650% Nb2O5 with an NSR of US$ 218/t.

The estimate of Mineral Reserves may be materially affected by metal prices, environmental, permitting, legal, title, taxation, socio-political, marketing, infrastructure development, or other relevant issues.

Annual life of mine (LOM) average production rate of ~8,282 tons of FeNb/annum in the years of full production,

Mining dilution of ~6% was applied to all stopes and development, based on 3% for the primary stopes, 9% for the secondary stopes, and 5% for ore development.

Mining recoveries of 95% were applied in longhole stopes and 62.5% in sill pillar stopes.

Price assumptions for FeNb, Sc2O3, TiO2 and TREO metals are based upon independent market analyses for each product.

Price and cost assumptions are based on the pricing of products at the "mine-gate," with no additional downstream costs required. The assumed products are a ferroniobium product (metallic alloy shots consisting of 65% Nb and 35% Fe), titanium in the form of TiCl4, scandium trioxide in powder form and rare earth oxides in either purified oxide or carbonate form. The Mineral Reserve has an average LOM NSR of US$590.84/ton.

The economic assumptions used to define Mineral Reserve cut-off grade are as follows:

Parameter

Value

Unit

Mining Cost

46.16

US$/t mined

Processing

125.04

US$/t mined

Water Management and Infrastructure

16.58

US$/t mined

Tailings Management

2.00

US$/t mined

Other Infrastructure

5.46

US$/t mined

General and Administrative

8.89

US$/t mined

Royalties/Annual Bond Premium

8.32

US$/t mined

Other Costs

6.28

US$/t mined

Total Cost

218.71

US$/t mined

Nb2O5 to Niobium conversion

69.9

%

Niobium Process Recovery

86.72

%

Niobium Price

23.59

US$/lb

TiCl4 Process Recovery

83.65

%

TiCl4 Price

0.84

US$/lb

Sc Process Recovery

92.00

%

Sc to Sc2O3 conversion

153.4

%

Sc Price

891.76

US$/lb

Dy2O3 Process Recovery

92.00

%

Dy2O3 Price

185.97

US$/lb

Nd2O3 Process Recovery

92.00

%

Nd2O3 Price

56.70

US$/lb

Pr2O3 Process Recovery

92.00

%

Pr2O3 Price

56.70

US$/lb

Tb2O3 Process Recovery

92.00

%

Tb2O3 Price

836.88

US$/lb

Economic Sensitivity Analysis

Figure 5-6: Pre-Tax NPV and IRR Sensitivity Analysis ($M)

Figure 7-8: After-Tax NPV and IRR Sensitivity Analysis ($M)

Unless otherwise stated or the context otherwise requires, all information about the Elk Creek Critical Minerals Project contained in this press release, including, but not limited to, expected production, Mineral Resource and Mineral Reserve estimates, development timeline, projected mine life, and projected economic results, is derived from the 2026 Feasibility Study, and is subject to all of the assumptions, qualifications, and limitations included therein, including the requirement to obtain project financing sufficient to cover initial capital costs and other related expenses necessary to the commencement and completion of construction.

EBITDA and EBITDA Margin are non-GAAP measures. Please see information on this and other such measures in the "Non-GAAP Measures" section of this press release.

Considers a contingency factor for CAPEX of 14%.

SOURCE: NioCorp Developments Ltd.

Vancouver, British Columbia--(Newsfile Corp. - July 2, 2026) - Myriad Uranium Corp. (CSE: M) (OTCQB: MYRUF) (FSE: C3Q) ("Myriad" or the "Company") is pleased to announce that Phase II drilling at the Copper Mountain Uranium Project in Wyoming has commenced.

Highlights

Phase II drilling is now underway at the Copper Mountain Uranium Project in Wyoming. The first four holes will test mineralization at Lucky Cliff, a high-priority target area drilled by Union Pacific in the late 1970s and never followed up with modern techniques (see Figure 3).

Any mineralization confirmed at Lucky Cliff will be outside the 1982 U.S. DOE Bendix Engineering Report "Assessment Area" ("the Bendix Report") previously reported here (see Figure 1).

Once the holes at Lucky Cliff are complete, the Phase II program will turn to drilling areas, other than Canning, that are associated with historical resource estimates totalling 26.63 Mlbs eU3O8 contained in 44.1 Mt at an average grade of 171 ppm eU3O8, which are not being treated as current mineral resources or mineral reserves (see note about Historical Estimates below).

Canning contains roughly half of the historically estimated resources at Copper Mountain and was the focus of Myriad's highly successful 34-hole Phase I drill program in late 2024 (release here).

Phase II will also test new targets identified by our recent geophysics (release here), which have undergone verification by ground truthing using a hand-held gamma spectrometer.

The final stage of Phase II will be infill drilling to support a current mineral resource estimate under NI 43-101.

In 1982, Bendix Engineering for the U.S. Dept. of Energy reported an exploration target for Copper Mountain of 245 to 655 Mlbs eU3O8 contained within 1,111 Mt to 2,971 Mt (at 100 ppm eU3O8) and 222 Mt to 594 Mt (at 500 ppm eU3O8). Reported here and here (see Figure 1 and details below).

The potential tonnages and grades of the Bendix exploration target are conceptual in nature and are based on previous drill results and there has been insufficient exploration to define a current mineral resource, and it is uncertain if further exploration will result in the target being delineated as a mineral resource. See the section titled "Copper Mountain Exploration Target" below for more details.

Myriad's CEO, Thomas Lamb, commented: "Our aim for Phase II drilling will be to confirm mineralization, not just at the historically estimated areas of Copper Mountain, but also at entirely new targets identified through our successful geophysics programs and subsequent ground truthing. We also hope that Phase II, once complete, will provide support for a compelling current mineral resource estimate."

Mr. Lamb continued: "Beyond Phase II drilling, Myriad has a fast-moving and exciting 12 months ahead.

Our merger with Rush is in the final steps of completion and will consolidate 100% ownership of Copper Mountain. This will have many benefits, including increasing our market cap, attracting institutional investor interest, simplifying operational decision-making, and broadening access to financing.We plan to uplist to a major U.S. exchange.8VC-backed Subatomic will be advancing the Red Basin, NM project, in which we hold a 10% free carried interest (release here). Exploration of our Breccia Pipe Project in Arizona, which includes the Wate Pipe's high grade historical resource estimate, will commence (release here)."

Figure 1: Target positions relative to the Bendix Assessment area.

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Nasco Industrial Services and Supply (NISS) has deployed a Boart Longyear LF90D surface diamond core drill rig to Copper Mountain. The LF90D is a powerful, highly mobile surface diamond core drill rig known for its deep coring capacity and reliable hydraulic systems. It features a telescopic mast designed for both 3-metre (10 ft) and 6-metre (20 ft) rod pulls (Figure 2).

Figure 2: The Boart Longyear LF90D surface diamond core drill rig tramming to the project area at Copper Mountain.

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Lucky Cliff

Lucky Cliff is located about 2000 metres (6,500 feet) north of the Canning deposit, along the Myrtle's Fault trend. The target area was selected by Union Pacific as a drill target on the basis of favourable geological and geochemical criteria. Several strong N45°E structural trends are present, and the associated rock types are similar to those found at other mineralized occurrences in the project area. A close-spaced (500-foot center) stream sediment sampling program undertaken by Union Pacific identified several highly anomalous (to 118 ppm) zones, and follow-up work was designed to test these anomalies. Ground-truthing of radiometric anomalies by Myriad following the helicopter survey completed late last year identified one point above the target area with a surface measurement of 193.2 ppm eU, using a calibrated RS-230 Handheld Gamma-Ray Spectrometer. Handheld spectrometer readings are preliminary and indicative only, may be affected by environmental and geometric factors, are not assay results and may not be representative of uranium concentrations in rock samples.

At least twenty holes were drilled by Union Pacific in the late 1970s. At least 10 holes intersected mineralisation in excess of 100 ppm eU3O8 from depths as shallow as 20 ft (6 m). LK-9 intersected 355 ft of 0.027% eU3O8 starting at 59 ft (including 207 ft of 0.032% eU3O8). LK-11 intersected 31 ft of 0.020% at 21.5 ft and 59.5 ft of 0.025% at 83.5 ft. Other intersections in this target area included 15.5 ft of 0.055% eU3O8 at 55 ft in hole LK-10. Higher grades are associated with a mafic dyke intruding the main fault zone through the target area. There is no historic resource estimate for Lucky Cliff. Reported widths are historical downhole widths and true widths are unknown. Equivalent ("e") uranium grades were determined by AEC gamma probes using appropriate calibration factors. No original assay certificates or complete QAQC records have been reviewed by the Company or the Qualified Person for these historical drill results.

Figure 3: Planned drilling at Lucky Cliff. The purple shaded areas represent anomalous surface uranium measurements from Myriad's recent helicopter radiometric survey.

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Copper Mountain Exploration Target

In 1982, Bendix Field Engineering Corp. ("Bendix") identified an exploration target of 245 to 655 Mlbs eU3O8 contained within 1,111 Mt to 2,971 Mt (at 100 ppm eU3O8) and 222 Mt to 594 Mt (at 500 ppm eU3O8). This was based on previous exploration on the property by Union Pacific Corp. and Bendix own work, including data from over 1,370 historic drill holes. The exploration target and methodology were detailed in two reports by Bendix titled "An Exploration Systems Approach to the Copper Mountain Area Uranium Deposits, Central Wyoming (September 1982)" and "Copper Fountain, Wyoming, Intermediate-Grade Uranium Resource Assessment Project Final Report (September 1982)", respectively. The exploration target potential was derived from geologic reconnaissance and geochemical, geophysical, petrologic, borehole, and structural data interpretations that were used to develop a genetic model for uranium mineralization in these environments. Development of a structural scoring system and application of models in a high-confidence control area established the basis for estimations of the uranium target in the total assessment area covering approximately 39.6 square miles. The volume of the modeled areas determines the potential tonnage statement in the exploration target. The grade range given in the exploration target is determined with consideration to the drill results within the modeled exploration target area and consideration of the geological setting in an established exploration camp. The potential tonnages and grades are conceptual in nature and are based on previous drill results that defined the approximate length, thickness, depth and grade of the portion of the historic mineral resource estimate. There has been insufficient exploration to define a current mineral resource, and it is uncertain if further exploration will result in the target being delineated as a mineral resource. Further details are available in the current NI 43-101 Technical Report.

Historical Resource Estimates

The historically estimated resources totalling 26.6 Mlbs eU3O8 contained in 44.1 Mt at an average grade of 171 ppm eU3O8 (using 100 ppm cut-off) were compiled from internal progress reports produced by Union Pacific subsidiary, Rocky Mountain Energy Company. In particular, a report titled "Copper Mountain Exploration Project Report" prepared by Southard, G.G., et. al., (1979) for Rocky Mountain Energy Company. The estimates were completed using polygonal methods based on modelled mineralization geometries. The historic resources were classified as Inferred and Indicated using U.S. Bureau of Mines categories at the time and do not necessarily correspond with the resource categories defined by current NI 43-101 definitions and guidelines. Details of the historical resource estimates are available in the current NI 43-101 Technical Report.

While Myriad Uranium has determined that the historical estimates described in this news release are relevant to the Copper Mountain Project Area and are reasonably reliable given the authors and circumstances of their preparation, and are suitable for public disclosure, readers are cautioned to not place undue reliance on these historical estimates as an indicator of current mineral resources or mineral reserves at the Project Area. A qualified person (as defined under NI 43-101) has not done sufficient work to classify any of the historical estimates as current mineral resources or mineral reserves, and Myriad Uranium is not treating the historical estimates as a current mineral resource or mineral reserve. Also, while the Copper Mountain Project Area contains all or most of each deposit referred to, some of the resources referred to may be located outside the current Copper Mountain Project Area. Furthermore, the estimates are decades old and based on drilling data for which the logs are, as of yet, predominantly unavailable. The historical resource estimates, therefore, should not be unduly relied upon.

Inherent limitations of the historical estimates include that the nature of mineralization (fracture hosted) makes estimation from drill data less reliable than other deposit types (e.g. those that are thick and uniform). From Myriad Uranium's viewpoint, limitations include that the Company has not been able to verify the original data itself and that the estimates may be optimistic relative to subsequent work which applied a "delayed fission neutron" (DFN) factor to calculate grades. On the other hand, DFN is controversial, in that the approach is viewed by some experts as too conservative. Nevertheless, it was applied in later resource estimations by Union Pacific relating to Copper Mountain. To verify the historical estimates and re-state them as current resources, a program of re-drilling is required to generate new data that can be used to establish the correlation and continuity of geology and grades between boreholes with sufficient confidence to estimate mineral resources.

Qualified Person

The scientific and technical information in this news release has been reviewed and approved by George van der Walt, MSc., Pr.Sci.Nat., FGSSA, a "Qualified Person" as defined under NI 43-101. Mr. van der Walt is a Principal Consultant with The MSA Group (Pty) Ltd, an independent consultancy. A Qualified Person has not done sufficient work to verify historic exploration results or to classify the historical estimates referred to in this news release as current mineral resources or mineral reserves, and Myriad is not treating such historical estimates as current mineral resources or mineral reserves.

About Myriad Uranium Corp.

Myriad Uranium Corp. holds a 75% interest in the Copper Mountain Uranium Project in Wyoming, USA, with a definitive agreement in place to acquire the remaining 25% via the acquisition of Rush Rare Metals Corp. Copper Mountain hosts multiple historic uranium deposits and past-producing mines, including the Arrowhead Mine (approximately 500,000 lbs U₃O₈ produced). Union Pacific conducted extensive exploration and development in the district during the late 1970s, including approximately 2,000 boreholes and advanced mine planning, before the uranium market downturn in 1980. Union Pacific is estimated to have invested approximately C$125 million (2026 dollars) in the project, generating significant historical resource estimates.

A news release detailing a comprehensive assessment of Copper Mountain's uranium endowment by Bendix Engineering for the US Department of Energy published in 1982 can be viewed here.

Myriad holds a 10% free carried interest in the Red Basin Uranium Project, recently sold to 8VC- and Overmatch-backed Subatomic Industries. Red Basin carries significant historical resource estimates from extensive drilling by Occidental Oil in the late 1970s, and also hosts vanadium, which has been designated a strategic and critical mineral by the U.S. government. Note the caution on historical estimates below.

Myriad's 100%-owned Breccia Pipe Project in Arizona comprises at least 23 breccia pipes that are prospective for uranium and REEs. One of the pipes, the Wate Pipe, was previously owned and explored by Energy Fuels and is the subject of a historical resource estimate. The Breccia Pipe Project has been optioned to Wedgemount Resources (release here).

Note: A qualified person has not done sufficient work to classify the Copper Mountain, Red Basin, and Breccia Pipe Project historical estimates as current mineral resources or reserves and Myriad is not treating historical estimates as current resources or reserves. Myriad intends to conduct further work to determine whether the historical estimates can be verified and, if appropriate, supported by current mineral resource estimates.

Forward-Looking Statements

This news release contains "forward-looking information" that is based on the Company's current expectations, estimates, forecasts and projections. This forward-looking information includes, among other things, the Company's business, plans, outlook and business strategy. The words "may", "would", "could", "should", "will", "likely", "expect", "anticipate", "intend", "estimate", "plan", "forecast", "project" and "believe" or other similar words and phrases are intended to identify forward-looking information. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect, including with respect to the Company's business plans respecting the exploration and development of the Company's mineral properties, the proposed work program on the Company's mineral properties and the potential and economic viability of the Company's mineral properties. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: inability to verify historical data, no assurance of defining mineral resources, permitting, drilling delays and changes in economic conditions or financial markets; increases in costs; litigation; legislative, environmental and other judicial, regulatory, political and competitive developments; and technological or operational difficulties. This list is not exhaustive of the factors that may affect our forward-looking information. These and other factors should be considered carefully, and readers should not place undue reliance on such forward-looking information. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by applicable law.

The CSE has not reviewed, approved or disapproved the contents of this news release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/303712

Source: Myriad Uranium Corp.

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