Skyharbour Partner Company Terra Clean Energy Begins Extensive 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
Suite 1030 – 505 Burrard Street, Vancouver, BC, Canada, V7X1M5
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TSX-V Trading Symbol: SYH
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Telephone: (604) 558-5847
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February 14, 2025
News Release
Skyharbour Partner Company Terra Clean Energy Begins Extensive 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) has announced the mobilization of crew
and equipment at the South Falcon East Uranium Project which hosts the Fraser Lakes B Uranium
Deposit. The South Falcon Project lies 18km 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 five-year earn-
in period.
Map of South Falcon East Project Claims:
https://skyharbourltd.com/_resources/maps/Sky_SouthFalconEast_20250109.jpg?v=1
Mobilization of crew and equipment has commenced for an extensive winter drill program consisting
of up to 2,500 meters of drilling. The field program will be executed by Terralogic Exploration Inc.
under the supervision of Brett Lavigne, Project Manager with TerraLogic Exploration and C. Trevor
Perkins, VP of Exploration for Terra Clean Energy Corp.
Terra’s inaugural drill program in early 2024 (news release dated April 1, 2024) at South Falcon East
confirmed the presence of uranium mineralized pegmatites and graphitic pelitic paragneiss along the
Way Lake Conductor. Graphitic pelitic paragneiss are a key li thology associated with uranium
deposits within the eastern Athabasca Basin, and their presence at the Fraser Lakes B deposit is a
good indication of the potential for high -grade basement -hosted unconformity related uranium
mineralization, in addition to t he known pegmatite/alaskite -hosted uranium mineralization at the
deposit.
The priority of the Winter 2025 program is to expand on the Winter 2024 program by extending the
mineralized footprint associated with the Fraser Lakes B Uranium Deposit and test nearby targets
with prospective alteration and structure identified in historical drilling. Modeling of the existing data
indicates the presence of a north-northwest trending structure crosscutting the way Lake conductor
through the Fraser Lakes B deposit. The presence of this structural intersection with the Way Lake
conductor and structure bodes well for a scenario where remobilized uranium mineralization can be
concentrated at this area resulting in a higher -grade zone within the overall deposit. Efforts will be
made to locate and characterize this structural trap and test the mo del as this is the best scenario
for a high-grade unconformity related basement hosted 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 infill and step out drilling planned at Fraser Lake B will confirm the presence and continuity of
existing mineralization and expand the footprint of the deposit; currently the mineralization is open
both down dip and along strike. The results of infill and step-out drilling will aid in preparation of an
updated NI 43-101 compliant resource estimate and deposit model for Fraser Lakes B. The upgraded
resource will also integrate other results not included in the historic al resource estimate, including
higher-grade mineralization encountered to date at Fraser Lakes B, intersected in drillhole FP -15-
05. FP-15-05 returned 0.165% U3O8 and 0.112% ThO2 over 2.0 metres at 135.0 metres depth within
a broader interval containing 0.103% U308 and 0.062% ThO2 over 6.0 metres at a depth of 134.5 m,
and a second high grade intercept of 0.172% U 3O8 and 0.113% ThO 2 over 2.5 metres at 146.0 m
depth. The mineralization at Fraser Lakes B is accompanied by anomalous pathfinder elements,
including Bi, Mo, Pb, and Zn, that are also associated with ultra high -grade basement -hosted
unconformity uranium deposits in the Athabasca Basin.
While the Fraser Lakes B uranium deposit will remain a primary focus of early efforts on the property,
Terra has ample additional drill-ready targets along the Way Lake conductor at South Falcon East.
This includes the T-Bone Lake area, just north of Fraser Lakes B, where limited drilling encountered
highly prospective clay alteration, anomalous radioactivity, and uranium mineralization (including up
to 0.055% U 3O8 over 0.9 m at 39.5 metres depth in drillhole WYL -10-53) associated with a north -
northwest trending fault cross -cutting the northeast -trending Way Lake conductor. The alteration
encountered at T-Bone Lake is similar to that encompassing several high -grade basement-hosted
uranium deposits in the eastern Athabasca Basin, including the former Eagle Po int Mine and the
Millennium uranium deposits. Regional drilling will focus on this area and other untested areas of
structural complexity along the folded Way Lake conductor that are highly prospective for high-grade
basement-hosted unconformity -related ur anium mineralization and additional pegmatite -hosted
uranium mineralization.
“We are very happy to be getting back on the ground at South Falcon East and continue what we
started in 2024”, commented Trevor Perkins, VP Exploration for Terra Clean Energy Corp. “We are
eager to expand the existing deposit as well as characterize and explore the identified north -
northwest structure and related complexity” continued Mr. Perkins. “This is presenting the ideal
structural scenario where u ranium sourced from the mineralized pegmatites and surrounding rock
can be concentrated and give us a hi gh-grade basement deposit. This has been seen at other
deposits, and we want to find it here.”
“We have a unique and exceptional exploration opportunity that includes continuing to expand the
Fraser Lakes B Uranium Deposit which is open in all directions and at depth as well as pursuing
high-grade basement hosted uranium deposits.” “The team is very excited about the prospects
identified and eager to unlock the abundance of value for shareholders.”
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.
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 Sedar
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 holds a 6.96M pound 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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ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF
THIS NEWS RELEASE.
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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
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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-
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
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