VANCOUVER, BC / ACCESSWIRE / October 17, 2024 / Rush Rare Metals Corp. (CSE:RSH) ("Rush" or the "Company) is pleased to announce that its earn-in partner on the Copper Mountain uranium property in Wyoming, Myriad Uranium (CSE:M)(OTC:MYRUF)(FRA:C3Q - "Myriad") recently closed its previously announced non-brokered private placement financing (the "Financing") (see Myriad's news release dated October 9, 2024). Myriad raised gross proceeds of $5,928,390, exceeding its original target of $5,000,000.
Raised funds will be used in part to complete Myriad's drill program, already underway, at Rush's Copper Mountain Project in Wyoming, USA. Myriad holds a 75% earnable interest in Copper Mountain, which was also the site of extensive historical work by Union Pacific and others during the 1970s. A September 23, 2024 news release from Myriad contains detailed technical and historical information and can be viewed here.
Rush CEO Peter Smith commented, "We are very excited with Myriad's successful financing, as well as their current drill program, well underway, at Copper Mountain. Early results, expected from Myriad soon, may start to not only verify a wealth of historical data, but may also expand on previously identified areas of mineralization. The boxes of historical data generated by Union Pacific and others, which we serendipitously found, are for the most part all in non-digital, paper form, and thus is only available to Rush and Myriad. This effectively gives us a drilling and exploration guidebook, with some invaluable insights into where previously reported mineralization was said to occur, at what depths, and in what amounts. Moreover, Myriad has done a tremendous job expanding our project area with new claims and leases, again all based on areas of interest indicated by the historical work. The result is that we now have what is shaping up to be a potentially enormous project, with numerous areas proven historically to have uranium mineralization, and with excellent data with which to guide our exploration going forward."
About Rush Rare Metals Corp.
Rush Rare Metals Corp. is a mineral exploration company focused on its Boxi Property located in the Province of Québec, Canada. Rush also owns the Copper Mountain Project located in Wyoming, USA, which it has optioned to Myriad Uranium Corp. Rush currently has a 100% interest in both properties. For further information, please refer to Rush's disclosure record on SEDAR+ (www.sedarplus.ca) or contact Rush by email at [email protected] or by telephone at 778.999.7030, or refer to Rush's website at www.rushraremetals.com.
Rush Contacts:
Peter Smith
Chief Executive Officer
[email protected]
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Mineralization hosted on adjacent or nearby properties is not necessarily indicative of mineralization hosted on the Company's properties. Certain statements in this news release are forward-looking statements, including with respect to future plans, and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as "may", "expect", "estimate", "anticipate", "intend", "believe" and "continue" or the negative thereof or similar variations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including but not limited to, business, economic and capital market conditions, the ability to manage operating expenses, and dependence on key personnel. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, anticipated costs, and the ability to achieve goals. Factors that could cause the actual results to differ materially from those in forward-looking statements include, the continued availability of capital and financing, litigation, loss of key employees and consultants, and general economic, market or business conditions. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The reader is cautioned not to place undue reliance on any forward-looking information.
The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
The CSE has not reviewed, approved or disapproved the contents of this news release.
SOURCE: Rush Rare Metals Corp.
View the original press release on accesswire.com
