About Skyharbour Resources
Skyharbour holds an extensive portfolio of uranium exploration projects in Canada’s Athabasca Basin and is well-positioned to benefit from improving uranium market fundamentals with twenty-nine projects, ten of which are drill-ready, covering over 580,000 hectares of mineral claims.
Skyharbour acquired from Denison Mines, a large strategic shareholder of the Company, a 100% interest in the Moore Uranium Project which is located 15 kilometres east of Denison’s Wheeler River project and 39 kilometres south of Cameco’s McArthur River uranium mine. Moore is an advanced-stage uranium exploration property with high-grade uranium mineralization at the Maverick Zone including highlight drill results of 6.0% U3O8 over 5.9 metres including 20.8% U3O8 over 1.5 metres at a vertical depth of 265 metres.
Adjacent to the Moore Uranium Project is Skyharbour’s Russell Lake Uranium Project, in which Skyharbour is operator having formed a 51% joint-venture partnership with Rio Tinto. The 73,294 ha Russell Lake Property is strategically located in the central core of the Eastern Athabasca Basin of northern Saskatchewan, and hosts several high-grade uranium drill intercepts over a large property area with robust exploration upside potential.
In addition to being a uranium exploration and early-stage development company focused on advancing its co-flagship Moore and Russell Lake Projects, Skyharbour also utilizes a prospect generator strategy by seeking partner companies to advance secondary projects, effectively acting as a uranium project incubator. Through earn-in option agreements, partner companies can acquire ownership interests in these projects by funding exploration and making cash and share payments to Skyharbour. The Company currently has joint-ventures with industry-leader Orano Canada Inc., Azincourt Energy, and ASX-listed Thunderbird Resources (previously Valor) at the at Preston, East Preston and Hook Lake Projects, respectively, whereby Orano, Azincourt and Thunderbird earned majority interests in the projects through exploration expenditures, cash payments and share issuances. Skyharbour also has six active earn-in option partners including: CSE-listed Basin Uranium Corp. at the Mann Lake Uranium Project; CSE-listed Medaro Mining Corp. at Yurchison Project; North Shore Uranium at the Falcon Uranium Project; UraEx Resources at the South Dufferin and Bolt Projects; Hatchet Uranium at the Highway Project; and TSX.V listed Terra Clean Energy (previously Tisdale) at the South Falcon East Project which is host to the Fraser Lakes Zone B Uranium and Thorium Deposit (NI 43-101 inferred resource totalling 7.0 million pounds of U3O8 at 0.03% and 5.3 million pounds of ThO2 at 0.023%.).
In aggregate, Skyharbour has now signed earn-in option agreements with partners that total over $40 million in partner-funded exploration expenditures, over $30 million worth of shares being issued, and over $22 million in cash payments coming into Skyharbour, assuming that these partner companies complete their entire earn-ins at the respective projects.
Skyharbour’s goal is to maximize shareholder value through new mineral discoveries, committed long-term partnerships, and the advancement of exploration projects in geopolitically favourable jurisdictions.
To learn more about Skyharbour, please contact:
Nick Coltura, Investor Relations Manager
E: Ncoltura@sentinelmarket.com
T: 604-558-5847
To learn more about Skyharbour, visit https://skyharbourltd.com/
For more information on the activity in the Athabasca Basin and to see the digital map, go to https://digigeodata.com/area/athabasca-basin/