VANCOUVER, BC / ACCESSWIRE / August 23, 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 Corp. (CSE:M)(OTCQB:MYRUF)(FRA:C3Q) - "Myriad") has closed another tranche of its previously announced non-brokered private placement financing (the "Financing") (see Myriad's news release dated August 13, 2024). In this latest tranche of the Financing, Myriad raised gross proceeds of $1,170,000. This adds to an earlier tranche of $2,912,500, closed June 25, 2024.
Rush CEO Peter Smith commented, "We are very excited with Myriad's continued success in this financing, which we anticipate will predominantly be used to fund its upcoming drill program at Copper Mountain. Since entering our earn-in agreement with them, tremendous value has been added for both companies with the addition of several new highly prospective areas (see Rush press release of April 24, 2024) and the development of a drill program to start verifying and expanding on tens of millions in historical work previously done in the area, mostly conducted by Union Pacific back when the USA, and Wyoming in particular, was one of the world's most important uranium producers."
Rush has also entered into an amending agreement (the "Amending Agreement") dated as of August 21, 2024, respecting the Company's Copper Mountain project, which amends Rush's mineral property option agreement with Myriad dated October 18, 2023. The amendments essentially clarify a few functional aspects of the option agreement so that both companies have greater certainty going forward. The Amending Agreement can be found on SEDAR+.
The Company is also pleased to announce that it will be visiting its Boxi Property in Quebec, which is prospective for Niobium and other Rare Earth Elements ("REE's"), on August 27th with a new geologist that has knowledge and experience in the exploration of U-Nb-REE pegmatites.
Rush CEO Peter Smith continued, "We are very excited to have some fresh eyes on our Boxi project, and it's our hope that we can make some additional progress at Boxi during the fall. With continued progress at both Copper Mountain and Boxi, Rush truly has what we feel is one of the best 1-2 punches for potentially explosive future value among Canadian junior mining companies 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+ () or contact Rush by email at psmith@rushraremetals.com or by telephone at 778.999.7030, or refer to Rush's website at .
Rush Contacts:
Peter Smith
Chief Executive Officer
psmith@rushraremetals.com
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.
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SOURCE: Rush Rare Metals Corp.