Vancouver, British Columbia--(Newsfile Corp. - June 2, 2025) - Rush Rare Metals Corp. (CSE: RSH) ("Rush" or the "Company") is pleased to provide details of further exploration work at its Boxi Property in Quebec, and to provide updates surrounding work by Myriad Uranium Corp. ("Myriad") on the Copper Mountain Property in Wyoming. Myriad is conducting ongoing exploration work on the Copper Mountain Property pursuant to an option agreement under which Rush and Myriad both currently hold a 50% interest in the property.
Boxi Property Update
The Boxi Property is a road accessible property comprised of over 8,000 hectares a short distance from Mont Laurier, Quebec. Boxi was formerly held by Areva S.A. (now Orano), who held the Property based on early samples returning high values for uranium. Orano dropped the Property following the Fukushima incident in 2013, and uranium mining was subsequently suspended in Quebec under a temporary moratorium still in place today. Rush subsequently acquired the Property on the strength of niobium values in samples taken by Orano in 2011.
Niobium is categorized as a critical mineral in Canada and is used to make strong, light weight and corrosion resistant steel, superconductors, and various other highly topical products. There are only three niobium mines of any significance in the world, two of them in Brazil, and the third, the Niobec Mine, just 350km from Boxi in Quebec.
Previous exploration at the Boxi Property was summarized in a Company news release dated July 12, 2024.
The Company intends to conduct additional exploration at Boxi, anticipated to commence in the coming weeks. New exploration work will focus on expanding sampling and mapping near the already established dyke exploration area near the main access road (Target Area 1), and on conducting new exploration in two main areas, in and around visible pegmatite showings near Lac Leon (Target Areas 2a and 2b), and in an area a number of kilometers to the east of the established Boxi area, in a zone previously showing as anomalous in a Federal Radiometric survey conducting in 1969 (Target Area 3). A map showing these target areas is shown below.
Figure 1. Boxi Property with interpreted "Boxi-like" lineament targets and radiometric targets
The planned exploration program is modest but also efficient, and is expected to provide a great deal of additional information about the nature and scope of mineralization, in particular for Niobium but also for other rare earth elements throughout the Boxi Property.
Copper Mountain Property Update
Myriad has been making excellent progress at Copper Mountain, a Uranium prospect located in Wyoming, currently held 50% by each of Myriad and Rush, and in which Myriad can earn an additional 25% interest pursuant to the option agreement between the parties.
Recent updates from Myriad were disseminated on March 17th and on April 29th, 2025. These Myriad news releases are available on the Myriad website at myriaduranium.com. Recent progress, as well as other thoughts surrounding the Copper Mountain Property generally, were discussed in recent interviews with Myriad CEO Thomas Lamb, with links to these provided below:
Is This America's Next Big Uranium Discovery? | Myriad's Copper Mountain Explained
Commodity Culture: URANIUM Will 'Really Be on Fire' as Governments & Big Tech Dive In.
In addition, Rush recognizes and welcomes the U.S. government's decisive recent actions to revitalize the nuclear energy sector and rebuild the domestic uranium supply chain. On May 23, 2025, new Executive Orders represent a sweeping national commitment to quadruple nuclear capacity by 2050, streamline permitting, restart the full fuel cycle, and invest in advanced reactor technologies. The policy shift includes clear timelines for regulatory reform, a mandate to expand uranium mining and enrichment, and support for public-private collaboration.
"This is the catalyst the sector has needed," said Peter Smith, CEO of Rush. "Our Copper Mountain Project in Wyoming—an established uranium region—is well aligned with these national goals. We, in close co-operation with Myriad, are well positioned to support America's nuclear resurgence with domestic supply. Myriad has done an outstanding job thus far in adding value to the Copper Mountain project in leaps and bounds, with recent chemical assay results showing even higher mineralization, and over larger areas than previously thought following a successful drill campaign last Fall. We firmly believe this project is becoming one of the best Uranium prospects in the USA."
Issuance of Stock Options
Rush also announces that it has issued an aggregate of 465,000 stock options to an officer and to certain directors of the Company. Each option vests immediately and is exercisable for one common share of the Company at a price of $0.11 for five years.
The issuance of the stock options is considered to be a "related party transaction" as defined under Multilateral Instrument 61-101 ("MI 61-101"). Such issuance is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as the fair market value of the transaction does not exceed 25% of the market capitalization of the Company, as determined in accordance with MI 61-101. The Company's directors unanimously approved the issuance of the stock options. There were no prior valuations made in the past 24 months in respect of the Company that relates to the subject matter of or is otherwise relevant to such issuance of stock options. The Company did not file a material change report respecting such issuance of stock options at least 21 days before such issuance, which is reasonable given the MI 61-101 exemption noted above.
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 the Boxi Property, and a 50% interest in the Copper Mountain Project. For further information, please refer to Rush's disclosure record on SEDAR+ (www.sedarplus.ca) or contact Rush by email at This email address is being protected from spambots. You need JavaScript enabled to view it. or by telephone at 778.999.7030, or refer to Rush's website at www.rushraremetals.com.
Rush Contacts:
Peter Smith
Chief Executive Officer
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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.
