Skyharbour’s Partner Company UraEx Resources Commences Summer 2025 Drilling Program at South Dufferin Uranium Project, Athabasca Basin, Saskatchewan
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
July 15th, 2025
News Release
Skyharbour’s Partner Company UraEx Resources Commences Summer 2025 Drilling
Program at South Dufferin Uranium Project, Athabasca Basin, Saskatchewan
Vancouver, BC July 15th, 2025 - Skyharbour Resources Ltd. (TSX-V: SYH) (OTCQX: SYHBF)
(Frankfurt: SC1P) (“Skyharbour” or the “Company”) is pleased to announce that its earn-in option
partner, UraEx Resources Inc. (“UraEx”), has commenced an inaugural 2,600-metre diamond drilling
program at the South Dufferin Uranium Project (“South Dufferin” or the “Property”) located
immediately south of the southern margin of the Athabasca Basin, proximal to Cameco’s Centennial
deposit. UraEx can earn an initial 51% in the Property through CAD $4,600,000 in combined project
consideration and up to 100% through $9,800,000 in combined project consideration consisting of
cash and share payments as well as exploration expenditures over a five-year period.
South Dufferin Property Map:
https://skyharbourltd.com/_resources/images/SKY_SouthDufferin.jpg
2025 Exploration Program at South Dufferin:
UraEx has initiated a fully-funded, comprehensive diamond drilling program for the summer of 2025,
with approximately 2,600 metres of drilling planned across 8 to 12 drill holes. This is the first drilling
program at the project in over six years. The helicopter-supported program is designed to test the
southern extension of the Dufferin Lake Fault, which is interpreted to be the southern continuation
of the structural corridor that hosts Cameco’s Centennial deposit and Dufferin Lake zone to the north.
Drilling operations will be carried out by Apex Geoscience Ltd., under the supervision of Apex
personnel, and with operations based out of a local contracting camp with helicopter support for daily
drilling operations. The program will run through the summer and the budget for the program is
approximately CAD $1.5 million funded by UraEx.
Drilling will prioritize high-potential target areas characterized by historical geochemical anomalies,
gravity low signatures, and structural complexity along north-northeast-trending brittle fault corridors
on the South Dufferin property. These features are interpreted to represent favourable pathways for
uranium-bearing fluids and are considered key indicators for basement-hosted, high-grade uranium
mineralization in the Athabasca Basin.
Tom Meredith, CEO and Director of UraEx stated: “Bordering Cameco’s Centennial project is surely
a clear indication of our drill targets potential. The Athabasca Basin is the world’s leading uranium
district, responsible for roughly 20% of global production and home to several tier -one discoveries.
It has been well explored and understood for many years attracting billions of dollars of investment.
Making a discovery is our fundamental goal and our technical team is excited with these targets.”
South Dufferin Property Summary:
The South Dufferin project totals 13,204 hectares in ten claims and is located immediately south of
the southern margin of the Athabasca Basin in northern Saskatchewan. The property covers the
southern extension of the Virgin River Shear Zone, which hosts known high -grade uranium
mineralization at Cameco’s Dufferin Lake zone approximately 13 kilometres to the north (highlight
historical drill results of 1.73% U 3O8 over 6.5 metres) and Cameco ’s Centennial deposit
approximately 25 kilometres to the north (includes historical drill results up to 8.78% U3O8 over 33.9
metres).
South Dufferin Property Map:
https://skyharbourltd.com/_resources/images/SKY_SouthDufferin.jpg
Historical exploration work on South Dufferin consists of airborne EM, magnetic, gravity and
radiometric surveys, lake water and sediment sampling, prospecting and ground-truthing of airborne
anomalies, geological mapping, and diamond drilling. Some of the historical drill holes intersected
elevated uranium with locally anomalous base metal and boron concentrations as well as significant
clay alteration.
Exploration potential exists for basement-hosted uranium mineralization associated with the Dufferin
Lake fault and parallel faults within the Virgin Lake Shear zone. With numerous mineralized showings
to the north of the project, exploration efforts at South Dufferin have advanced the project to a
discovery-ready state. Significant exploration potential exists for basement -hosted uranium
mineralization associated with the Dufferin Lake fault, which has an apparent offset of >200 m, and
numerous other paral lel faults within the Virgin River Shear zone. The project is drill -ready with
several prospective targets warranting follow up work.
Most of the claims are in good standing for several years and there are no underlying royalties on
the property except for a 2% NSR on one of the claims owned by a third-party.
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 Exploration for Skyharbour as well as a Qualified Person.
About UraEx Resources Inc.:
UraEx Resources Inc. is currently a private company focused on uranium projects in the Athabasca
Basin where it has an option to earn -in at the South Dufferin and Bolt projects . The company is
planning for upcoming drill programs at the projects as well as a go-public transaction soon. UraEx
is run by mining-industry executives and is backed by financiers in the investment industry.
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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