Skyharbour’s JV Partner Orano Commences 6-7,000m Summer Drilling Program at the 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
June 26th, 2025
News Release
Skyharbour’s JV Partner Orano Commences 6-7,000m Summer Drilling Program at the
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”), recently commenced a large-scale diamond drilling program at the 49,635-
hectare Preston Uranium Project (“Preston” or the “Property”) located in the western Athabasca
Basin, Saskatchewan, Canada . The drilling program will consist of approximately 6,000 to 7,000
metres of drilling during the summer of 2025. Orano is the majority owner and operator at the project
with Skyharbour owning a minority interest of approximately 25.6%.
Location Map of Preston Project:
https://www.skyharbourltd.com/_resources/images/Sky_Preston.jpg
2025 Exploration Program at Preston:
The program for the Preston Project will consist of a helicopter-supported diamond drilling campaign,
totaling 6,000 to 7,000 metres, with up to 28 holes designed to test high-priority targets across the
property at depths ranging from 200 to 350 metres. Primary drill target areas (outlined in Figure 2)
include the previously untested Johnson Lake, the Canoe Lake and FSAN target. Target areas are
spread throughout the project to ensure assessment credits are met across all claims, while testing
perspective trends.
Figure 2: Target Area Overview – Preston Lake Project:
https://www.skyharbourltd.com/_resources/news/Figure_2_Target_Area_Overview.jpg
Drilling in the Johnson Lake area (Zone 1 ; Figure 2) will target a broad structural corridor initially
identified in an airborne VTEM survey and subsequently refined by a ground-based ML-TEM survey
in 2018 and a DC resistivity survey in 2020. Multiple parallel conductors exhibiting moderate to strong
responses have been delineated across the grid. A total of 4 to 5 drill holes are planned with an
average depth of 350 metres for a total of approximately 1,750 metres , contingent on results. The
primary objective is to test ground conductors at structurally complex intersections which are
considered highly prospective for uranium mineralization. There has been no drilling completed in
the Johnson Lake grid area to date.
Figure 3: Johnson Lake Grid Ground Conductors:
https://www.skyharbourltd.com/_resources/news/Figure_3_Johnson_Lake_Grid.jpg
The Canoe Lake area (Zone 2; Figure 2) comprises nine conductive trends that remain largely
untested, with only one to three historical drill holes completed on each to date. The 2025 program
aims to assess high-priority targets for uranium mineralization and to further define Canoe Lake as
a prospective discovery corridor within the Preston Lake Project.
A total of 6 to 12 diamond drill holes are planned, totalling approximately 1,200 to 2,400 metres, with
an average hole depth of 200 metres. Six zones of interest have been identified based on the review
of available airborne and ground geophysical data, c haracterized by gravity lows near interpreted
structural breaks and crosscutting magnetic features. Structural features in the southwestern portion
of the grid are of particular interest due to their orientation, which is analogous to the structural trends
controlling mineralization at the PLS and Arrow uranium deposits. These targets are on strike with
zones of brittle -ductile deformation and hydrothermal alteration observed in historical drilling,
supporting their potential for hosting basement-hosted uranium mineralization.
Figure 4: Canoe Lake Ground Gravity, Zones of Interest and 2025 Targets:
https://www.skyharbourltd.com/_resources/news/Figure_4_Canoe_Lake_Ground_Gravity_
and_Zones_of_Interest.jpg
The FSAN Zone (Zone 3; Figure 2) will be the most extensively tested area in the 2025 program,
with both reconnaissance and direct targeting strategies to be employed. Reconnaissance drilling
will consist of 3 holes totalling approximately 1,050 metres, focusing on discrete airborne EM
anomalies near the intersection of prospective east-west structures. An additional 7 to 14 holes will
be drilled using a more direct targeting approach for a total of 1,400 to 2,800 metres. These holes
will test gravity low anomalies, areas of magnetic disruption, and sites of high geochemical response,
including SGH uranium anomalies and historical surface grab samples with anomalous uranium and
pathfinder element concentrations.
Figure 5: FSAN 2025 Ground Gravity Results with Lineament and 2025 Targets:
https://www.skyharbourltd.com/_resources/news/Figure_5_FSAN_2025_Ground_Gravity_Results_
with_Lineament_and_2025_Targets.jpg
The West and Far West Grids (Zone 4; Figure 2) have been designated as contingency targets for
the 2025 drill program. These areas encompass the western extent of the PL -1 conductive trend,
where historical drilling intersected moderately to strongly graphitic, brittle -ductile fault zones with
localized hydrothermal alteration. The structural complexity observed in this area enhances its
prospectivity for basement-hosted uranium mineralization and warrants further investigation.
2024 Exploration Program Completed at Preston:
The 2024 field program marked the first exploration activities conducted by Orano at the Preston
Project since 2020. The program included a 35.6 km ground Moving-Loop Transient Electromagnetic
(ML-TEM) survey over the Preston West and Far West targets, focusing on an airborne VTEM
conductor at Preston West and following up on a prior reconnaissance survey at Preston Far West.
A ground gravity survey comprising 2,295 stations was also completed over an area encompassing
the FSAN and FSANE trends to help with drill target prioritization . In addition, a Spatiotemporal
Geochemical Hydrocarbon (SGH) geochemical survey comprising approximately 1,100 samples
was carried out during the summer of 2024. SGH is a cost -effective technique which has been
successfully used to detect surficial anomalies associated with buried uranium mineralization in the
Athabasca Basin.
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 49,635-
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), 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 succe ssfully
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 its earn-in option on the project by funding exploration expenditures and
making the required cash payments. Upon completion of a total of CAD $4.8 million in exploration
spending, a joint venture was established between Orano, Skyharbour, and Di xie Gold to advance
and develop the project. Orano currently holds a 53.3% interest in the joint venture, with Skyharbour
and Dixie Gold holding 25.6% and 21.1% interests, respectively.
Market Maker:
The Company has engaged the services of Independent Trading Group ("ITG") pursuant to an
agreement dated and starting on July 1st, 2025 (the “Agreement”) to provide market-making services
in accordance with TSX Venture Exchange (“TSX-V”) policies. ITG will trade shares of the Company
on the TSX-V and all other trading venues with the objective of maintaining a reasonable market and
improving the liquidity of the Company's common shares.
Under the terms of the Agreement, ITG will receive compensation of CAD $5,000 per month, payable
monthly in advance. The Agreement is for an initial term of one month and will renew for additional
one-month terms unless terminated by either party with 30 days' notice. There is no performance
factors contained in the Agreement and ITG will not receive shares or options as compensation. ITG
and the Company are unrelated and unaffiliated entities.
Independent Trading Group (ITG) Inc. is a Toronto based CIRO dealer -member that specializes in
market making, liquidity provision, agency execution, ultra -low latency connectivity, and bespoke
algorithmic trading solutions. Established in 1992, with a focu s on market structure, execution and
trading, ITG has leveraged its own proprietary technology to deliver high quality liquidity provision
and execution services to a broad array of public issuers and institutional investors.
Qualified Person:
The technical information in this news release has been prepared in accordance with Canadian
regulatory requirements set out in National Instrument 43-101 and has been reviewed and approved
by Serdar Donmez, P.Geo., Vice President of Exploration for Skyharbour Resources, who is a
Qualified Person as defined by NI 43-101.
About Orano Canada Inc.:
Headquartered in Saskatoon, Saskatchewan, Orano Canada Inc. is a leading producer of uranium,
accounting for the processing of 16.9 million pounds of uranium concentrate in Canada in 2024.
Orano has been exploring for, mining and milling uranium in Canada for more than 60 years. Orano
Canada is the operator of the McClean Lake uranium mill and a major partner in the Cigar Lake,
McArthur River and Key Lake operations. The company employs over 450 people in Saskatchewan,
including about 375 at the McClean Lake operation where over 40% of employees are self-declared
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.
Orano Canada Inc. is a subsidiary of the multinational Orano group. As a recognized international
operator in the field of nuclear materials, Orano delivers solutions to address present and future
global energy and health challenges. Its expertise and mastery of cutting-edge technologies enable
Orano to offer its customers high value-added products and services throughout the entire fuel cycle.
Every day, the Orano group’s 17,000 employees draw on their skills, unwavering dedication to safety
and constant quest for innovation, with the commitment to develop know -how in the transformation
and control of nuclear materials, for the climate and for a healthy and re source-efficient world, now
and tomorrow.
Visit Orano at www.oranocanada.com or follow us on LinkedIn, Facebook and Twitter:
@oranocanada
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-six projects covering over 614,000 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 at the Maverick Zone that
returned drill results of up to 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 Project is the Russell Lake Uranium Project, in
which Skyharbour is the operator with joint-venture partner Rio Tinto. The project hosts several high-
grade uranium drill intercepts over a large property area with robust exploration upside potential. The
Company is actively advancing these projects through exploration and drill programs.
Skyharbour also has joint ventures with the industry leader Orano Canada Inc., Azincourt Energy,
and Thunderbird Resources at the 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; 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 over
$36 million in partner-funded exploration expenditures, over $20 million worth of shares being issued,
and $14 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.
Skyharbour’s Uranium Project Map in the Athabasca Basin:
https://www.skyharbourltd.com/_resources/images/SKY_SaskProject_Locator_2024-11-21_v1.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
Investor Relations 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 f orward-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 material 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 Co mpany’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.