Myriad Uranium has officially finalized its acquisition of the Los Altares uranium project in Argentina, marking a significant expansion of its international portfolio. By completing a cash and share agreement with Green Shift Commodities, the company now maintains full ownership of Buenavida Metales S.A., the entity holding mineral claims across a massive 55,000 hectare area in the Chubut province. The financial terms of the deal involved a payment of 300,000 US dollars in cash alongside nearly 1.6 million shares valued at roughly 700,000 US dollars, though these shares remain subject to a hold period until early 2027.
The newly acquired assets are strategically located within the Cerro Solo uranium district, flanking one of Argentina’s most prominent deposits and sitting near the historic Los Adobes mine. According to CEO Thomas Lamb, this move aligns with Myriad’s broader goal of securing high-potential projects in established districts without incurring excessive upfront costs. The site is particularly attractive due to its existing infrastructure of approved environmental impact assessments and its geological profile, which suggests strong potential for in situ recovery methods.
Beyond just gaining access to raw minerals, this transaction provides Myriad with an essential foothold in the South American market. This latest addition complements the company’s current North American holdings, including the Copper Mountain project in Wyoming and operations in Arizona. As part of the arrangement, Green Shift was granted a small net smelter return royalty on the project, although Myriad retains an option to buy back half of that interest for 1 million US dollars as they begin exploring the region’s prospects further.