Skyharbour and JV Partner Orano Announce Extensive Exploration and Drilling Plans for 2026 at Preston Uranium Project Vancouver, BC - Skyharbour Resources Ltd . (TSX-V: SYH) (OTCQX: SYHBF) (Frankfurt: SC1P) (“Skyharbour” or the “Company”) is pleased to announce that its joint-venture partner, Orano
Suite 1030 – 505 Burrard Street, Vancouver, BC, Canada, V7X 1M5
www.skyharbourltd.com
TSX-V Trading Symbol: SYH
Email: [email protected]
Telephone: (604) 558-5847
Facsimile: (604) 687-3119
December 9th, 2025
News Release
Skyharbour and JV Partner Orano Announce Extensive Exploration and Drilling Plans for
2026 at Preston Uranium Project
Vancouver, BC - Skyharbour Resources Ltd . (TSX-V: SYH) (OTCQX: SYHBF) (Frankfurt:
SC1P) (“Skyharbour” or the “Company”) is pleased to announce that its joint-venture partner, Orano
Canada Inc. (“Orano”), is planning a substantial 2026 exploration and drilling program at the 49,635
hectare Preston Uranium Project (“Preston” or the “Property”) located in the western Athabasca
Basin, Saskatchewan, Canada. The upcoming program will include an Airborne Gravity Gradiometry
(AGG) survey, followed by detailed ground gravity surveys , and these geophysics will be followed
by a summer 2026 drilling campaign totaling approximately 3,500 metres. The program is designed
to build on the encouraging results from the previous few years and advance several high -priority
target areas across the property, particularly within the FSAN and Canoe Lake grids where drilling
and geophysical surveys have identified compelling structural corridors and extensive alteration
zones. Orano is the majority owner with 74.7% and operator at the project with Skyharbour now
owning the remaining minority interest of 25.3%.
Location Map of Preston Project:
https://skyharbourltd.com/_resources/maps/Sky_Preston-2025_12_08.jpg
2026 Exploration Campaign at Preston:
The proposed 2026 exploration campaign will include a large-scale Airborne Gravity Gradiometry
(AGG) survey, which will cover the full priority corridor in the northern portion of the property. This
work will include the FSAN and Canoe Lake grids, both of which were highlighted as the most
prospective areas after the 2025 drilling season. The AGG survey is expected to refine discrete
gravity lows, identify structural trends, and help delineate potential hydrothermal or alteration-related
footprints across the broader claim area. Following the airborne work, Orano intends to complete
detailed ground gravity surveys using tight station spacing of 25 by 25 metres or 50 by 50 metres.
These surveys will focus on key zones within the proposed drilling footprint and will be used to
validate targets from the airborne data, improve resolution over prospective features, and help
distinguish basement anomalies from localized overburden variations.
A summer diamond drilling program is also proposed, consisting of approximately 3,000 to 3,500
metres across roughly ten helicopter -supported drill holes, each averaging around 300 metres in
depth. Similar to the successful approach used in 2025, drilling will be divided between direct
targeting of high -priority anomalies and broader structura l corridor testing along graphitic trends
known to be associated with uranium mineralization in the Athabasca Basin. Orano anticipates that
six to eight drill holes wi ll focus on follow -up and step -out testing within the northern FSAN area,
where multiple graphitic shear zones, brittle –ductile structures, and strong clay alteration were
intersected in 2025. An additional two to four holes are planned for the Area B cond uctive corridor,
an underexplored structural trend that remains largely untested but shows strong potential based on
existing geophysical data.
The proposed budget for the 2026 program will be allocated to the airborne and ground gravity
surveys as well as toward drilling, helicopter support, logistics, and analytical work. The planned
work is expected to significantly advance the geological understanding of the Preston Project and
generate new high-quality drill targets for future exploration, building on the extensive groundwork
completed during 2024 and 2025.
2025 Exploration Campaign Completed at Preston:
The 2025 exploration program at the Preston Uranium Project was successfully completed and
consisted of 5,56 5 metres of helicopter -supported diamond drilling across 17 holes, in addition to
ongoing geophysical interpretation and geological analysis. The program was designed to evaluate
several high-priority target areas distributed throughout the property to syst ematically test multiple
prospective geological corridors. Drilling was primarily focused on the Johnson Lake, Canoe Lake,
and FSAN grids , each rep resenting distinct structural and geophysical environments with the
potential to host basement-hosted uranium mineralization.
Target Area Overview – Preston Lake Project:
https://www.skyharbourltd.com/_resources/images/Target-Area-Overview-Preston-Lake-
Project.png
Work completed in 2025 marked the first -ever drilling at the Johnson Lake grid (Zone 1), where
previous ML-TEM surveys and DC resistivity had outlined strong conductive responses along the
JL-North and JL-South trends. Four holes totaling 1,304 metres were drilled to test the interpreted
graphitic packages and resistivity lows associated with these conductors. Drilling confirmed the
presence of multiple narrow but well -developed graphitic shear zones, displaying brittle –ductile
fabrics and locally enhanced clay alteration consistent with structurally complex basement settings.
Although the area yielded fewer signs of extensive reactivation compared to other zones, the drilling
provided valuable geological constraints and verified the EM interpretations. With access no longer
limited by winter conditions thanks to helicopter support, the 2025 work provided the first substantive
geological dataset ever collected at Johnson Lake.
Johnson Lake Grid – VTEM Background:
http://www.skyharbourltd.com/_resources/images/JohnsonLakeGrid_2025Drilling_VTEM.jpg
The Canoe Lake grid (Zone 2) continued to demonstrate strong prospectivity and received significant
attention in the 2025 program, with four holes totaling just under 1,000 metres drilled across several
conductors. Previous work had identified nine conductive trends within the area, many of which had
seen only limited historic drilling. The 2025 drilling successfully intersected multiple graphitic fault
zones (several of them strongly fractured, argillized, and sulphide-bearing) along the CAN-1, CAN-
3, and CAN -8 corridors. Holes PRE-27 and PRE -34 returned some of the most notable structural
intersections, including strongly graphitic horizons marked by extensive fault gouge, core loss, and
well-developed chlorite and illite alteration. Gravity lows mapped in this area were confir med to
correlate in several cases with thicker overburden or preferential weathering of structural zones,
consistent with pattern s observed at other Athabasca uranium deposits. With several conductors
remaining untested and multiple structural corridors showing strong graphitic development, Canoe
Lake continues to be regarded as one of the most prospective target zones on the property.
Canoe Lake Grid – 2025 Drilling:
http://www.skyharbourltd.com/_resources/images/CanoeLakeGrid_2025Drilling_VTEM.jpg
The largest component of the 2025 program was completed on the FSAN grid (Zone 3), where 10
holes totaling 3,263 metres were drilled across both direct targeting and structural corridor
evaluations. This work followed up on new 2024 ground gravity and SGH geochemical surveys,
which had outlined several compelling anomalies. Drilling across the FSAN grid successfully
confirmed multiple graphitic shear zones, brittle–ductile structures, and thick sequences of kaolinite,
illite, and chlorite alteration - an alteration profile that is consistent with large -scale fluid movement
and enhanced structural preparation. Several fences of holes, including PRE -32–37 and PRE-36–
41–42, intersected parallel graphitic shear zones with well -developed mylonitic fabrics, while holes
PRE-35, PRE -39, and PRE -40 encountered atypical alteration and lithological variations not
previously documented at Preston. These results collectively point to a more complex structural
framework in the FSAN area than previously recognized, with mul tiple corridors now identified as
priority targets for follow-up drilling.
FSAN Grid – 2025 Drilling:
http://www.skyharbourltd.com/_resources/images/FSANGrid_2025Drilling_VTEM.jpg
Overall, the 2025 exploration program was successful in validating EM -defined conductive
packages, expanding the geological understanding of key structural corridors, and refining the
property-scale model for basement-hosted uranium potential at Preston. The results highlight several
zones, particularly within Canoe Lake and FSAN , where additional drilling is warranted and where
new geophysical datasets have outlined strong, untested targets. This multi-zone approach ensured
thorough coverage across the Pre ston claims and has positioned the project for a focused and
technically robust 2026 exploration and drilling campaign.
Preston Uranium Project:
In March 2017, Skyharbour signed an option agreement with Orano (formerly AREVA Resources
Inc.) that provided Orano an earn -in option to acquire a majority working interest in the 49,6 35
hectare Preston Uranium Project . The significant potential of the Project has been highlighted by
past discoveries in the area by NexGen Energy Ltd. (Arrow deposit), Fission Uranium Corp. (Triple
R deposit now owned by Paladin Energy ), and F3 Uranium Corp . (PLN discovery). Exploration at
the Project has consisted of ground gravity, airborne and ground electromagnetics, radon, soil, silt,
biogeochem, lake sediment, and geological mapping surveys, as well as exploratory drill programs.
Over a dozen high-priority drill target areas associated with multiple prospective exploration corridors
have been successfully delineated through these methodical, multi-phased exploration initiatives,
which have culminated in an extensive, proprietary geological database for the project area.
Joint Venture and Strategic Partnership:
In early 2021, Orano fulfilled their earn-in option interest in the project through funding exploration
expenditures and making cash payments. Orano now holds a 74.7% interest in the joint venture and
is the operator, with the remaining minority 25.3% interest owned by Skyharbour.
Qualified Person:
The technical information in this news release has been prepared in accordance with the Canadian
regulatory requirements set out in National Instrument 43-101 and reviewed and approved by Serdar
Donmez, P.Geo., VP of Exploration for Skyharbour as well as a Qualified Person.
About Orano Canada Inc.:
Orano Canada Inc., headquartered in Saskatoon, Saskatchewan, is a leading producer of uranium,
accounting for the processing of more than 15 million pounds of uranium concentrate in Canada in
2023. In 2024, Orano celebrated 60 years of exploring for, minin g, and milling uranium in Canada.
Orano Canada is the operator of the McClean Lake uranium mine and mill, and a significant partner
in the Cigar Lake, McArthur River, and Key Lake operations. The company employs nearly 500
people in Saskatchewan, including about 320 at the McClean Lake operation, where over 46% of
employees self -declare as Indigenous. As a sustainable uranium producer, Orano Canada is
committed to safety, environmental protection, and contributing to the prosperity and well -being of
neighbouring communities.
About Skyharbour Resources Ltd.:
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 interest in
thirty-seven projects covering over 616,000 hectares (over 1.5 million acres) of land. Skyharbour has
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 in several zones at the
Maverick Corridor. Adjacent to the Moore Project is the Russell Lake Uranium Project, which host s
widespread uranium mineralization in drill intercepts over a large property area with exploration
upside potential. The Company is actively advancing these projects through exploration and drilling
programs.
Skyharbour also has joint ventures with industry leader s Denison Mines, Orano Canada Inc.,
Azincourt Energy, and Thunderbird Resources at the Russell, Preston, East Preston, and Hook Lake
Projects, respectively. The Company also has several active earn-in option partners, including CSE-
listed Basin Uranium Corp. at the Mann Lake Uranium Project; TSX -V listed North Shore Uranium
at the Falcon Project; UraEx Resources at the South Dufferin and Bolt Projects; Hatchet Uranium at
the Highway Project; CSE-listed Mustang Energy at the 914W Project; and TSX-V listed Terra Clean
Energy at the South Falcon East Project.
In aggregate, Skyharbour has now signed earn -in option agreements with partners that total to
potentially over $76 million in partner-funded exploration expenditures and over $42 million in cash
and share 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.
Skyharbour’s Uranium Project Map in the Athabasca Basin:
https://skyharbourltd.com/_resources/maps/SKY-SaskProject-Locator-2025-12-08.jpg
To find out more about Skyharbour Resources Ltd. (TSX -V: SYH) visit the Company’s website
at www.skyharbourltd.com.
SKYHARBOUR RESOURCES LTD.
“Jordan Trimble”
Jordan Trimble
President and CEO
For further information contact myself or:
Nicholas Coltura
Corporate Communications Manager
Skyharbour Resources Ltd.
Telephone: 604-558-5847
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: [email protected]
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER
ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF
THIS NEWS RELEASE.
Forward-Looking Information
This news release contains “forward ‐looking information or statements” within the meaning of
applicable securities laws, which may include, without limitation, completing ongoing and planned
work on its projects including drilling and the expected timing of such work programs, other
statements relating to the technical, financial and business prospects of the Company, its projects
and other matters. All statements in this news release, other than statements of historical facts, that
address events or developments that the Company expects to occur, are forward -looking
statements. Although the Company believes the expectations expressed in such forward -looking
statements are based on reasonable assumptions, such statements are not guarantees of future
performance and actual results may differ materially from those in the forward -looking statements.
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, including
the price of uranium, the ability to achieve its goals, that general business and economic conditions
will not change in a materia l adverse manner, that financing will be available if and when needed
and on reasonable terms. Such forward -looking information reflects the Company’s views with
respect to future events and is subject to risks, uncertainties and assumptions, including the risks
and uncertainties relating to the interpretation of exploration results, risks related to the inherent
uncertainty of exploration and cost estimates and the potential for unexpected costs and expenses,
and those filed under the Company’s profile on SEDAR+ at www.sedarplus.ca. Factors that could
cause actual results to differ materially from those in forward looking statements include, but are not
limited to, continued availability of capital and financing and general economic, market or business
conditions, adverse weather or c limate conditions, failure to obtain or maintain all necessary
government permits, approvals and authorizations, failure to obtain or maintain community
acceptance (including First Nations), decrease in the price of uranium and other metals, increase in
costs, litigation, and failure of counterparties to perform their contractual obligations. The Company
does not undertake to update forward‐looking statements or forward‐looking information, except as
required by law.