Skyharbour Partner Company Terra Clean Energy Completes First Three Drill Holes on Fraser Lakes Uranium Deposit at the South Falcon East Uranium Project Vancouver, BC - Skyharbour Resources Ltd. (TSX-V: SYH) (OTCQX: SYHBF) (Frankfurt:
Suite 1030 – 505 Burrard Street, Vancouver, BC, Canada, V7X1M5
www.skyharbourltd.com
TSX-V Trading Symbol: SYH
Email: [email protected]
Telephone: (604) 558-5847
Facsimile: (604) 687-3119
March 10th, 2025
News Release
Skyharbour Partner Company Terra Clean Energy Completes First Three Drill Holes on
Fraser Lakes Uranium Deposit at the South Falcon East Uranium Project
Vancouver, BC - Skyharbour Resources Ltd. (TSX-V: SYH) (OTCQX: SYHBF) (Frankfurt:
SC1P) (“Skyharbour” or the “Company”) is pleased to announce that partner company Terra Clean
Energy Corp. (“Terra”, previously Tisdale Clean Energy) has completed its first three drill holes at
the South Falcon East Uranium Project (the “Property”) which hosts the Fraser Lakes B Uranium
Deposit. The program will continue throughout March and is expected to consist of over 2,000 metres
of drilling. The South Falcon East Project lies 18 km outside the edge of the Athabasca Basin,
approximately 50 km East of the Key Lake uranium mill and former mine. Skyharbour optioned the
Project to Terra and under the Option Agreement assuming the 75% interest is earned, Terra will
fund exploration expenditures totaling CAD $10,500,000, as well as pay Skyharbour CAD
$11,100,000 in cash of which $6,500,000 can be settled for shares in the capital of T erra over the
earn-in period.
Map of South Falcon East Project Claims:
https://skyharbourltd.com/_resources/maps/Sky_SouthFalconEast_20250109.jpg?v=1
Terra is currently conducting a 2,000m - 2,200m helicopter supported drill program at the Property.
Three diamond drill holes have been completed on the Fraser Lakes B Uranium Deposit, for a total
of 802m, and a fourth hole is in progress.
“We are extremely encouraged by the results of the first three drill holes as we continue to see
mineralization in each of the holes as well as what we believe to be an expansion of the deposit to
the North. As stated below, Hole SF063 returned a continuous mineralized zone of pegmatites from
173 metres to 224 metres with some decent grades.” Based on the initial results from Hole SF063
we have decided to reorganize the remaining metres of this program to focus on further defining this
new area of interest and chasing clay alteration not yet seen on the property to date, with hopes of
finding a new high-grade unconformity uranium deposit,” said Greg Cameron CEO of the Terra Clean
Energy.
Hole SF063 was planned to examine an interpreted cross fault offsetting the mineralization and
geology on the east end of the Fraser Lakes B Uranium Deposit. This hole was drilled to a depth of
393 metres and intersected multiple structures and a 51 -metre wide interval of mineralized granitic
pegmatites and zones within altered and graphitic pelitic gneiss. Highlights include 0.03% eU 3O8
over 12.0m from 173.55m to 185.55m, including 0.06% eU3O8 over 0.7m from 180.35m to 181.05m,
as well as 0.03% eU3O8 over 3.0m from 213.65 m to 216.65m, including 0.07% eU 3O8 over 0.5m
from 215.95m to 216.45m.
The first structure intersected from 18m to 47.5m contained zones of intense clay alteration typically
found in relation to unconformity uranium deposits. The presence of this alteration is a good
indication that hydrothermal fluids suitable for deposition of higher -grade uranium mineralization
moved through the rocks. The second structure from 306 m to 315m is a brecciated pelitic gneiss
situated between two intervals of Archean gneiss. This structure is interpreted to be responsible for
the geological offset being targeted. This will assist in updating the target model in this area. The
intersections of a clay altered structure and a thick sequence of minera lized pegmatites and pelitic
gneiss have expanded the mineralization and improved the prospectivity on the east end of the
Fraser Lakes B Uranium Deposit.
2025 Drill Target Areas at the South Falcon East Uranium Project:
https://www.skyharbourltd.com/_resources/images/2025-Drill-Target-areas-at-the-south-Falcon-
East-Uranium-Project.png
“The results from the drilling so far are very encouraging,” commented Trevor Perkins, Vice President
of Exploration for Terra Clean Energy. “The first two holes have shown that the deposit is still open
down dip to the north and northwest. Hole SF0063 has shown that there is significant potential for
upgrading the deposit on the east end. We are excited to see where this can lead”, continued Mr.
Perkins.
Drilling is continuing with one hole in progress at the T -Bone Lake target area to examine the
conductive package and alteration intersected in the area in historical drilling. Pad preparation is
underway to return to the target around hole SF0063 and follow up on the clay alteration and
pegmatites. Efforts will be made to follow the alteration and pegmatites to where they intersect, as
this should be an area of fluid pooling and upgrading of mineralization within the deposit.
The first hole in the program, h ole SF061 was planned to test for a down dip extension of
mineralization intersected in hole FP-15-05 and was drilled to a depth of 209m. Drilling intersected
a 35m interval containing multiple mineralized granitic pegmatites and zones within altered and
graphitic pelitic gneiss. The most notable zone returned an equivalent grade of 0.02% eU 3O8 over
2.2 m from 150.25 m to 152.45m, including 0.05% eU 3O8 over 0.6m from 151.65 m to 152.25m.
Historical diamond drill hole FP -15-05 was drilled by Skyharbour in 2015 in this area and returned
multiple zones of mineralization over a 14m interval, including 6m of 0.10% U3O8 including 2.0m of
0.165% U3O8 from 135m depth and 2.5m of 0.172% U3O8 from 145m depth.
Hole SF062 was planned to test for an along strike extension of mineralization intersected in holes
FP-15-05 and SF0061 and was drilled to a depth of 200m. Drilling intersected a 21m interval
containing multiple mineralized granitic pegmatites and zones within altered and graphitic pelitic
gneiss. The most notable zone returned an equivalent grade of 0.03% eU 3O8 over 2.2 m from
141.75m to 144.15 m, including 0.05% eU3O8 over 0.4m from 143.15m to 143.55 m.
While both of these holes extended the mineralization down dip and along strike to the north and
northwest, they did not intersect the higher grades encountered in hole FP-15-05. This is due to the
potential variability within the pegmatite swarm. As long as the mineralized pegmatites are present,
higher grades will be encountered within the overall mineralized zone.
South Falcon East Project Summary:
The South Falcon East Project is a uranium exploration project in the southeast Athabasca Basin
and covers approximately 12, 464 hectares. It lies 18 kilomet res outside the Athabasca Basin,
approximately 50 kilometres east of the Key Lake Mine. Historical exploration at the South Falcon
East Project identified an area of U-Th-REE mineralization at the Fraser Lakes Zone B over an area
comprising 1.5 km by 0.5 km along an antiformal fold nose cut by an east-west dextral ductile-brittle
cross-structure adjacent to a 65 km long EM conductor.
QA/QC, Radiometric Equivalent Grades and Spectrometer Readings:
All drill intervals above are downhole length and sampling procedures and QA/QC protocols for
geochemical results as well as a description of downhole gamma probe grade calculations and
protocols are below. All drill core samples are shipped to the Saskatchewan Research Council
Geoanalytical Laboratories (“SRC”) in Saskatoon, Saskatchewan under the care of Terra personnel
for preparation, processing, and multi -element analysis by ICP -MS and ICP -OES using total
(HF:NHO3:HClO4) and partial digestion (HNO3:HCl), boron by fusion, and U3O8 wt% assay by ICP-
OES using higher grade standards. Assay samples are chosen based on visual inspection, downhole
probing radiometric equivalent uranium grades and scintillometer (Radiation Solu tions RS -125)
peaks. Assay sample intervals comprise 0.5 to 1.0 metre continuous half-core split samples over the
mineralized interval. These samples may also be selected for density determination using the lost
wax method. With all assay samples, one half of the split sample is retained and the other sent to
the SRC for analysis. The SRC is an ISO/IEC 17025/2005 and Standards Council of Canada certified
analytical laboratory. Blanks, standard reference materials, and repeats are inserted into the sample
stream at regular intervals by Terra and the SRC in accordance with Terra’s quality assurance/quality
control (QA/QC) procedures. Geochemical assay data are subject to verification procedures by
qualified persons employed by Terra prior to disclosure.
During active exploration programs drillholes are radiometrically logged using calibrated downhole
Mount Sopris 4OTGU or 2GHF probes of varying sensitivities which collect continuous readings
along the length of the drillhole. Preliminary radiometric equiv alent uranium grades (“eU 3O8”) are
then calculated from the downhole radiometric results. The probe is calibrated using an algorithm
calculated from the calibration of the probe at the Saskatchewan Research Council facility in
Saskatoon and from the compar ison of probe results against geochemical analyses. In the case
where core recovery within a mineralized intersection is poor or non-existent, radiometric grades are
considered to be more representative of the mineralized intersection and may be reported i n the
place of assay grades. Radiometric equivalent probe results are subject to verification procedures
by qualified persons employed by Terra prior to disclosure.
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 Dave
Billard, P.Geo., Consulting Geologist for Skyharbour as well as a Qualified Person.
About Terra Clean Energy Corp.:
Terra Clean Energy (formerly Tisdale Clean Energy Corp) is a Canadian-based uranium exploration
and development company. The Company is currently advancing the South Falcon East uranium
project, which hosts a uranium resource within the Fraser Lakes B uranium/thorium deposit, located
in the Athabasca Basin region, Saskatchewan, Canada.
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 in several zones at the
Maverick Corridor. Adjacent to the Moore Project is the Russell Lake Uranium Project , in which
Skyharbour is operator with joint -venture partner RTEC. The project hosts 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 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; 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 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.
The securities offered have not been, and will not be, registered under the United States Securities
Act of 1933, as amended (the "U.S. Securities Act") or any U.S. state securities laws, and may not
be offered or sold in the United States or to, or for th e account or benefit of, United States persons
absent registration or an applicable exemption from the registration requirements of the U.S.
Securities Act and applicable U.S. state securities laws. This press release does not constitute an
offer to sell o r the solicitation of an offer to buy securities in the United States, nor in any other
jurisdiction.
This release includes certain statements that may be deemed to be "forward -looking statements".
All statements in this release, other than statements of historical facts, that address events or
developments that management of the Company expects, are forward-looking statements, including
the Private Placement. Although management believes the expectations expressed in such forward-
looking statements are based on reasonable assumptions, such statements are not guarantees of
future performance, and actual re sults or developments may differ materially from those in the
forward-looking statements. The Company undertakes no obligation to update these forward-looking
statements if management's beliefs, estimates or opinions, or other factors, should change. Factors
that could cause actual results to differ materially from those in forward-looking statements, include
market prices, exploration and development successes, regulatory approvals, continued availability
of capital and financing, and general economic, market or business conditions. Please see the public
filings of the Company at www.sedar.com for further information.