Wedgemount Resources Options Arizona Uranium and REE Targets Adjacent to Energy Fuels Mine

Vancouver, BC – June 9, 2026 – Leads & Copy – Wedgemount Resources Corp. announced Tuesday it has entered into an option agreement with Myriad Uranium Corp. to acquire a significant stake in the Breccia Pipe Project in Northern Arizona, an area known for its uranium deposits. The agreement covers 5,600 acres with potential for associated rare earth elements (REEs).

The Breccia Pipe Project comprises 23 breccia pipe-hosted uranium targets. Among these is the Wate Pipe, which has a historical resource estimate of 71,000 tons containing 1.12 million pounds of eU₃O₈ at an average grade of 0.79% eU₃O₈. This historical estimate is not current under NI 43-101 standards, and Wedgemount intends to conduct further work to verify and potentially restate it.

Under the option agreement, Wedgemount has a three-year period to acquire up to a 75% interest in the project. This acquisition involves a cash payment of USD$75,000, the issuance of Wedgemount common shares to Myriad resulting in Myriad owning 9.9% of Wedgemount, and incurring Cdn$4,000,000 in qualifying expenditures. Myriad retains the right to earn back a 50% interest by funding the next Cdn$5,000,000 of exploration expenditures.

Wedgemount's strategic move into uranium exploration complements its existing oil and gas assets in the Permian Basin, positioning the company as a diversified energy provider. The company believes this expansion into uranium, a critical component for clean energy, aligns with growing demands for energy security and cleaner fuel sources in the United States.

Mark Vanry, CEO of Wedgemount, stated that the optioning of these targets, including the former Energy Fuels-owned Wate Pipe, marks a significant step for the company. He highlighted that the addition of the Wedgemount CM Division establishes a presence in a producing uranium district within the continental United States.

The Breccia Pipe Project is situated in the Arizona Strip, a historically significant uranium district that has produced over 23 million pounds of uranium historically. The project's targets are located near Energy Fuels' active Pinyon Plain Mine, which produced 638,700 lbs of U at an average grade of 2.23% in Q2 2025. The geological characteristics of the breccia pipe deposits in the region are similar to those found in other known uranium systems.

Wedgemount's option agreement includes terms for establishing joint ventures. If Wedgemount earns a 75% interest, a 75/25 joint venture will be formed. If only the first option is exercised, a 50/50 joint venture will be established. Myriad can increase its ownership in the joint venture to 50% by funding the first Cdn$5,000,000 of exploration expenditures.

The company also noted the potential for associated rare earth elements (REEs) within the breccia pipe systems, referencing published technical literature. However, Wedgemount has not yet completed sufficient work to determine the extent or economic significance of any REE mineralization on its optioned properties.

The press release emphasizes the strategic importance of domestic uranium supply for the United States, citing its role in nuclear energy, which provides a significant portion of the nation's electricity. Growing demand driven by data centers, AI infrastructure, and the global transition to cleaner fuels further underscores the strategic importance of domestic uranium and natural gas supply.

Source: Wedgemount Resources Corp.