Skyharbour and JV Partner Orano Canada Announce Upcoming Exploration and Drilling Plans for Summer 2026 at Preston Lake 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 ventu
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TSX-V Trading Symbol: SYH
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Telephone: (604) 558-5847
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June 23rd, 2026
News Release
Skyharbour and JV Partner Orano Canada Announce Upcoming Exploration and Drilling
Plans for Summer 2026 at Preston Lake 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 Canada”), is planning a comprehensive 2026 exploration and drilling program
at the 49,635 -hectare Preston Lake Uranium Project (“Preston Lake” or the “Property”) , located in
the southwestern Athabasca Basin, Saskatchewan, Canada. The planned program will include a
helicopter-borne Airborne Gravity Gradiometry (“AGG”) survey covering a high-priority corridor in the
northern portion of the property, followed by a summer diamond drilling campaign totaling up to 3,500
metres.
Location Map of Preston Lake Project:
https://skyharbourltd.com/_resources/images/Sky_Preston-2025_12_08.jpg
The program is designed to build on the encouraging results from the past several years and
advance a number of high-priority target areas across the property, particularly within the FSAN and
Canoe Lake target areas , where drilling and geophysical surveys have identified prospective
structural corridors and extensive alteration zones associated with graphitic metasedimentary rocks.
Orano Canada is the majority owner with 79.2% and operator at the Project with Skyharbour holding
the remaining 20.8% interest.
2026 Exploration Campaign at Preston Lake:
The proposed 2026 exploration campaign will be anchored by a large -scale Airborne Gravity
Gradiometry (AGG) survey, which will fully cover a high-priority corridor in the northern portion of the
property encompassing the FSAN and Canoe Lake grids , which emerged as two of the highest -
priority target areas across the Property following the 2025 drilling program. Following a technical
assessment, Orano Canada has elected to fly a helicopter -borne AGG system, which provides a
lower survey height of approximately 35 metres and 100 -metre line spacing with increased in -line
sample density relative to a fixed -wing system. The survey is expected to take approximately two
weeks to complete and is designed to identify discrete gravity -low features, faults, and structures
across most of the claim area, with the objective of defini ng and refining high-quality drill targets for
the summer program. To prioritize complete AGG coverage, the budget previously contemplated for
ground gravity work has been re -allocated to the airborne survey, and detailed ground gravity
surveys using tight station spacing of 25 by 25 metres or 50 by 50 metres are now planned for early
2027. This follow -up ground gravity work will be used to screen the AGG anomalies, help
discriminate false positives such as localized overburden variations, and improve spati al resolution
over prospective features in preparation for the 2027 summer drilling season.
2026 Program Overview Map:
https://www.skyharbourltd.com/_resources/news/2026-Program-Overview-Map.png
A helicopter -supported diamond drilling program is expected to commence in July 2026 and will
consist of up to 3,500 metres across roughly ten drill holes, averaging approximately 300 metres in
depth, with certain holes potentially extending deeper depending on results. Similar to the successful
approach used in 2025, drilling will be divided between direct testing of high -priority targets and
systematic testing of broader graphitic conductive corridors and associated structural features
prospective for ura nium mineralization. Orano Canada anticipates that six to eight drill holes will
focus on targeting within the northern FSAN area, testing four to six targets. These targets are
characterized by segmented conductive signals coincident with localized magnetic and gravity lows
along known trends of interest, including the FSA conductive corridor, which has returned the most
anomalous uranium values intersected in drilling on the Property to date. The interpreted disruption
and segmentation of the conductors may reflect faulting and enhanced structural complexity,
features considered favourable for hydrothermal fluid flow and the development of unconformity -
associated uranium mineralization in the Athabasca Basin.
An additional two to four holes are planned for the Area B conductive corridor, the final remaining
large-scale conductive trend on the property that has yet to be drill tested, supported by five lines of
complementary DC resistivity coverage collected in 2020. The drill results from this corridor will help
determine whether further exploration should be focused along the trend.
The planned work is expected to significantly advance the geological understanding of the Preston
Lake Project and generate new high -quality drill targets for future exploration, building on the
extensive groundwork completed during 2024 and 2025.
Preston Lake Uranium Project:
In March 2017, Skyharbour signed an option agreement with Orano Canada (formerly AREVA
Resources Canada Inc.), that provided Orano Canada an earn-in option to acquire a majority 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), Paladin Energy
(Triple R deposit , formerly owned by Fission Uranium Corp. ), and F3 Uranium Corp. (PLN
deposit). 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 successfully delineated throug h these
methodical, multi-phased exploration initiatives, which have culminated in an extensive, proprietary
geological database for the project area.
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 Orano Canada Inc.:
Headquartered in Saskatoon, Saskatchewan, Orano Canada Inc. is a leading uranium producer with
more than 60 years of experience in uranium exploration, mining, milling, and reclamation. The
company maintains one of the largest uranium exploration portfolio s in the Athabasca Basin and
continues to invest in the discovery and development of future uranium resources to support the
growing global demand for reliable, low-carbon nuclear energy.
In 2025, Orano Canada processed 19.8 million pounds of uranium concentrate at the McClean Lake
uranium mill, a significant share of Canadian uranium production. Orano Canada operates the
McClean Lake mill and is a key partner in several of Canada's premier uranium operations, including
Cigar Lake, McArthur River, Key Lake, and McClean Lake.
Orano Canada is committed to responsible resource development. Orano Canada is advancing the
SABRE (Surface Access Borehole Resource Extraction) mining method, an innovative technology
designed to unlock high -grade uranium deposits with reduced surface disturbance and enhanced
operational flexibility. The company also demonstrated its commitment to responsible resource
development through the successful decommissioning and reclamation of the former Cluff Lake mine
and mill, which was transferred to Saskatchewan's Institutional Control Program in 2023.
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 s
in forty-three projects covering over 662,887 hectares (over 1.6 million acres) of land. Skyharbour
owns 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, shallow uranium mineralization at
the Maverick Zones. Adjacent to Moore, Skyharbour is advancing several uranium properties within
the Russell Lake project area with its joint venture partner and large strategic sha reholder Denison
Mines. Collectively these projects host multiple zones of high -grade uranium mineralization across
a highly prospective land package with significant exploration upside, and the Company is actively
working these assets through exploration and drilling programs.
Skyharbour now has joint ventures with industry leaders Denison Mines Corp. and Orano Canada
Inc. at the Russell Lake properties and the Preston project, respectively. The Company also has
several active earn-in option partners, including CSE-listed Nexus 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; Future Fuels at the Highway Project; CSE-listed Mustang Energy
at the 914W Project; and TSX -V l isted Terra Clean Energy at the South Falcon East Project. In
aggregate, Skyharbour has now signed earn -in option agreements with partners that total to
potentially over $76 million in partner -funded exploration expenditures and over $4 5 million in cash
and share payments coming into Skyharbour, assuming that these partner companies complete the
earn-ins at their respective projects.
Skyharbour's objective 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_2025-12-16.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
Corporate Communications 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 develo pments that the Company expects to occur, are forward -looking
statements. Although the Company believes the expectations expressed in such forward -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 oper ate 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 Company’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 climate 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 contr actual obligations. The Company
does not undertake to update forward ‐looking statements or forward‐looking information, except as
required by law.