Skyharbour Partner Company Terra Clean Energy Completes Winter Drill Program with Encouraging Results and Prepares a Significant Summer Drill Program 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
April 1st, 2025
News Release
Skyharbour Partner Company Terra Clean Energy Completes Winter Drill Program with
Encouraging Results and Prepares a Significant Summer Drill Program 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) announced the completion of the winter drill
program at the South Falcon East Uranium Project (the “Property”) which hosts the Fraser Lakes B
Uranium Deposit. The Property 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 Terra (“Shares”) over the earn-in period.
Map of South Falcon East Project Claims:
https://skyharbourltd.com/_resources/maps/Sky_SouthFalconEast_20250109.jpg?v=1
Highlights:
- Six holes intercepted uranium mineralization
- Continuity across the deposit confirmed
- Drilling expands mineralized footprint
Terra conducted a helicopter supported drill program at the Property with seven diamond drill holes
completed for a total of 1,927m. The first three drill holes were reported in the press release dated
March 10th, 2025.
“With uranium present in six of seven holes drilled this winter, and the east and west of the property
now tied together with mineralization, this was a very successful program, and we believe we have
added significant value to the Property,” said Greg Cameron CEO of Te rra Clean Energy. “We are
seeing wider intervals of mineralization up to 75 metres and more consistent spikes of higher-grade
uranium with 0.16% reported in Hole SF0065. The Fraser Lakes Uranium Deposit is shallow in nature
making it ideal for an open pit scenario being only 150 met res below surface and not far from a
powerline and Cameco’s Key Lake Uranium Mill, making it a unique opportunity, especially in a rising
uranium price environment. As we continue to add pounds of uranium and higher grades, this deposit
becomes more and more valuable.”
Hole SF0065 was drilled to follow up the results of SF0063, reported in the March 10 th release. It
was targeted to intersect the same mineralized pegmatites 60m to the northeast. The hole was
completed to a depth of 282m and intersected a 75m wide zone of variably mineralized granitic
pegmatites and zones within altered and graphitic pelitic gneiss. A summary of the major zones within
this mineralization are shown in Table 1 with the main highlight being an equivalent grade of 0.02%
eU3O8 over 17.5m from 204.9 m to 222.4m, including 0.16% eU 3O8 over 0.3m. A zone of clay
alteration and bleaching was intersected from 59m to 68m. The presence of this alteration is a good
indication that hydrothermal fluids suitable for deposition of higher -grade uranium deposits moved
through the rocks.
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
Hole SF0066 was drilled to a depth of 302m, to follow the clay alteration and mineralized pegmatites
to the northwest and assist in characterizing orientation of the clay alteration and associated
structure. Drilling intersected a 50m 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 3.4m from 214.4m to 217.8m, including 0.1% eU 3O8 over 0.1m. The zone of
strong clay alteration and bleaching was intersected from 57.5m to 67.5m. Based on oriented core
data and intersections on three holes, this alteration package appears to be dipping to the north.
Completed Drill Holes at South Falcon East Uranium Project:
https://skyharbourltd.com/_resources/images/2025-Completed-drill-holes-at-South-Falcon-
East-Uranium-Project.png
Hole SF0067 was drilled to a depth of 302m, to extend the mineralized pegmatite package to the
north and confirm the interpreted north dipping orientation of the clay alteration. Drilling intersected
a 70m interval containing multiple mineralized granitic pegmatites and zones within the altered and
graphitic pelitic gneiss package. This interval is noted for the larger number of higher -grade spikes
at or above 0.1% eU 3O8 intersected compared to the previous drilling in this program. Down -hole
gamma logging returned equivalent grades of 0.03% eU 3O8 over 4.0m from 219.8 m to 223.8m,
including 0.13% eU 3O8 over 0.2m and 0.01% eU 3O8 over 5.5m from 233.7m to 239.2m, including
0.06% eU3O8 over 0.2m in the two widest intervals. The zone of strong clay alteration and bleaching
was intersected from 66.5m to 73.5m. Drilling has now extended the deposit to the north and
northeast and is still open in this direction. It is interpreted that the clay altered structural zone
identified in SF0063, SF0065, SF0066 and SF067 is dipping to the north and will intersect the
mineralized and hematite altered graphitic pelitic gneiss and pegmatites approximately 120 m to
150m north of the current drilling. A follow -up drill program is currently being planned to test this
upgraded target area for a higher-grade unconformity related basement-hosted uranium deposit and
additional mineralized pegmatites where these structures and alteration all intersect.
“I’m very excited to announce we will be conducting a summer drilling program to follow up on the
significant results received. We believe we have started to define a new structure on the northeast
side of the Property and are hopeful a basement -hosted unconformity uranium deposit, similar to
Eagle Point and Rough Rider, is present. Our strategy moving forward is to both increase the size
and grade of the Fraser Lakes B deposit and to add additional discoveries to this historical resource,”
said Mr. Cameron.
”The results from this drilling program are very encouraging. Drilling has shown that the deposit is
still open down dip to the northwest, north and northeast,” commented Trevor Perkins, Vice President
of Exploration for Terra. “The presence of clay alteration within a structure on the northeast side has
upgraded this area. Where this clay alteration intersects the mineralized conductive package is an
exciting target as this can bring together many of the key features associate d with the known
basement-hosted unconformity deposits in the Basin,” continued Mr. Perkins.
One hole, SF0064, was completed to 239m in the T -Bone Lake area to examine the conductive
package and alteration intersected in the area in historical drilling. An extensive package of graphitic
metasediments was intersected in this area, characterizing the conductive package. Weak alteration
was noted, however no elevated radioactivity was identified. The optimal target in the T-Bone Lake
area was not intersected.
Table 1: Mineralized Intersections in Final Three Holes at South Falcon East Project:
https://skyharbourltd.com/_resources/images/Table-1-Mineralized-intersections-in-final-
three-holes-at-South-Falcon-East-Uranium-Project.png
Samples of the mineralized intervals within the drill core have been collected and shipped for analysis
at the Geoanalytical Laboratory at the Saskatchewan Research Council in Saskatoon,
Saskatchewan. Terra will provide more detailed results once geochemical analysis of the collected
core samples is completed, reviewed and confirmed.
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 km outside the Athabasca Basin, approximately
50 km 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 usi ng 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 scintil lometer (Radiation Solutions RS -125)
peaks. Assay sample intervals comprise 0.5 to 1.0 m 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 sampl es, one half of the split sample is retained and the other sent to
the SRC for analysis. 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 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 40TGU or 2GHF probes of varying sensitivities which collect continuous readings along
the length of the drillhole. Preliminary radiometric equivalent 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 SRC facility in Saskatoon and from the comparison
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 in the pla ce 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 Serdar
Donmez, P.Geo., VP of Exploration 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 developing the South Falcon East uranium
project, which hosts an inferred 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]
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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-
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future performance, and actual re sults or developments may differ materially from those in the
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