Skyharbour Announces Additional Uranium Property Acquisitions in the Athabasca
Suite 1610 – 777 Dunsmuir Street, Vancouver, BC, Canada, V7Y 1K4
www.skyharbourltd.com
TSX-V Trading Symbol: SYH
Email: [email protected]
Telephone: (604) 687-3376
Facsimile: (604) 687-3119
January 18th, 2024
NEWS RELEASE
Skyharbour Announces Additional Uranium Property Acquisitions in the Athabasca
Basin, Saskatchewan, as well as Marketing Contracts
Vancouver, BC - Skyharbour Resources Ltd. (TSX-V: SYH) (OTCQX: SYHBF) (Frankfurt:
SC1P) (the “Company”) is pleased to announce that it has acquired several new prospective
uranium exploration claims through online staking and through an agreement with Eagle Plains
Resources Ltd. (“Eagle Plains”), contributing to Skyharbour’s large property portfolio. These 100%
owned claims are located in Northern Saskatchewan, adding an additional 30,184 hectares to
Skyharbour’s existing holdings in and around the Athabasca Basin, which is host to the highest-
grade uranium deposits in the world and is consistently ranked as a top mining jurisdiction by the
Fraser Institute. As the Company remains focused on its co-flagship Russell Lake and Moore
uranium projects, these new claims will become a part of Skyharbour’s prospect generator
business as the Company will seek strategic partners to advance them.
Skyharbour’s Uranium Project Map in the Athabasca Basin:
https://www.skyharbourltd.com/_resources/maps/SKY_SaskProject_Locator_20231219_V2.jpg
New Property Summaries:
Foster Property:
The drill-ready Foster property consists of 15 claims totaling 6,362 hectares approximately 20 km
east of Cameco’s Key Lake operation and adjoining the southwestern end of Skyharbour’s Falcon
Project, currently optioned out to North Shore Energy Metals Ltd. The Foster claims are situated
in the Wollaston Domain just outside of the currently mapped extent of the Athabasca Basin, with
several small outliers of sandstone located regionally in the area. The basement geology consists
of psammopelite, calc-silicate, diorite, pelitic gneiss and graphitic pelitic gneiss of the Daly Lake
Group, accompanied by minor felsic orthogneisses.
Skyharbour recently acquired these claims through online staking as well as acquiring
additional claims from Eagle Plains. The claims acquired from Eagle Plains host geology
favourable for uranium and REE mineralization with t wo significant mineralized areas
including the Great Plains Showing and the Red October Zone. There are numerous untested
coincident geochemical and geophysical anomalies , many of which are drill ready , with
significant encouraging exploration to date for pegmatite - and fault -hosted uranium
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mineralization. Exploration in the Eagle Lake area at these claims between 1969 and the
early 1980’s resulted in the discovery of the Great Plains Showing. Exploration programs,
including diamond-drilling, intersected intense alteration and shearing as well as high Radon
222 values. Notably, pitchblende mineralization was discovered in veins associated with fault
structures; however, a comprehensive program was recommended but never carried out due
to changing uranium market fundamentals . Another mineralized zone, the Red October Zone,
was discovered in 2008 by Eagle Plains, and consists of a 400 m intermittent uranium and
REE-mineralized outcrop within a 1 km coincident soil geochemical and ground magnetic
anomaly. The Red October Zone was drill-tested in 2012, with all 6 holes encountering
anomalous uranium, and REE’s.
Elsewhere on the broader property package, prospective graphitic pelitic gneiss packages are
exposed at the surface. In addition to the two aforementioned zones, the Foster project
contains several other uraniferous occurrences, which often also host elevated REE’s and/or
thorium, and with samples collected on the property returning up to 657 ppm U, 6644 ppm
TREE, and 344 ppm Th . Significant untested potential exists on the Foster project for
basement-hosted, unconformity-related uranium deposits like those further to the north in the
Wollaston Domain (i.e. Eagle Point, Rabbit Lake, Key Lake and others) , as well as for
additional pegmatite-hosted uranium, thorium, and REE mineralization.
Skyharbour plans to seek a partner company to option and advance Foster as a part of its
prospect generator business. Eagle Plains will retain a 2% Net Smelter Return (“NSR”) royalty,
subject to reduction on certain claims by underlying NSR agreements.
Other Properties Recently Staked:
Skyharbour recently acquired other uranium properties consisting of 7 claims totaling 23,822
hectares in and around the Athabasca Basin. One claim was staked on the northern edge of
Skyharbour’s Karin Project, increasing the extent of the Karin project to a total of 25,165 hectares
in the Highrock Lake area . The new claim is underlain by prospective Wollaston Supergroup
metasedimentary gneisses, including pelitic to psammopelitic gneisses, which host uranium,
thorium, and REE mineralization elsewhere in the Wollaston Domain. No modern geological work
has been undertaken on this new claim, with the most recent work consisting of airborne INPUT
EM and magnetic survey and prospecting in 1980 , which detected a weak EM anomaly on this
claim.
Four additional claims totaling 13,026 hectares were staked at the Pluto Bay Project area located
approximately 14 km north of the Athabasca B asin, just east of the Snowbird Tectonic Zone /
These claims are underlain by Archean tonalitic to granitic gneisses, with local Paleoproterozoic
amphibolites, metaquartzites, calc-silicates, marbles, and pelitic, psammopelitic, and psammitic
gneisses. Minimal modern exploration has been undertaken on the property, which is prospective
for basement-hosted unconformity-related uranium mineralization.
Another two claims totalling 9,896 hectares were staked in the Newham Lake area. The claims
are underlain by Athabasca Sandstone ranging in thickness from less than 80 to just over 200 m.
Several historical and modern EM conductors are present on these claims, which are along trend
of EM conductors extensively drill tested by SMDC , JNR Resources Inc. , and ALX Resources
Corp. were subject to a variety of geophysical surveys, prospecting, geochemical surveying, and
geological mapping between 1969 to 1983, when work was paused until the mid-2000’s. Several
modern EM, magnetics, radiometrics, and gravity surveys were flown over portions of the property
between 2005-2011, however no modern ground exploration has taken place on the property,
which is highly prospective for unconformity-related uranium mineralization.
Skyharbour Engages Marketing Firms:
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Skyharbour announce s that it has engaged Winning Media LLC (“Winning Media”) to
provide marketing and digital advertising services to the Company. Winning Media is a Houston,
Texas based marketing agency that specializes in digital and corporate brand marketing services
to enhance corporate visibility and retail investor awareness. The engagement with Winning
Media will extend for a period of six months. Winning Media will be paid a fee of US D $40,000
payable in advance of the initiation of services to commence in mid -January. Neither Winning
Media nor any of its principals currently own any interest, directly or indirectly, in the Company.
Additionally, the Company has entered into a n agreement with Plutus Invest and Consulting
("Plutus"), a German based communications and media services provider, pursuant to which
Plutus will provide the Company with marketing services. The consulting agreement has a term
of nine months commencing in mid-January. The marketing services provided by Plutus will be in
consulting with the Company's management in building investor awareness of the Company
through Plutus's network in Europe. The Company has agreed to pay Plutus a total initial cost of
EUR 75,000 upon the commencement of services. Plutus is an arm's length from the Company
and Plutus does not have any interest, direct or indirect, in the Company or its securities. The
Company's engagement of Winning and Plutus are subject to the acceptance of the TSX Venture.
Option Agreement with Yellow Rocks Energy:
Skyharbour announces the termination of the proposed option agreement with Yellow Rocks
Energy Ltd, which was to provide Yellow Rocks an earn-in option to acquire up to an 80% interest
in the Wallee and Usam Island Uranium Properties (see news release dated September 28 th,
2022).
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 David Billard, P.Geo., a Consulting Geologist for Skyharbour as well as a Qualified
Person.
*SMDI refers to the Saskatchewan Mineral Deposits Index and “AF” refers to Saskatchewan
Mineral Assessment File.
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 one of
the largest mineral tenure holdings in the region. 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 at the Maverick Zone that returned drill results of
up to 6.0% U3O8 over 5.9 metres including 20.8% U3O8 over 1.5 metres at a vertical depth of 265
metres. Adjacent to the Moore Uranium Project is Skyharbour’s recently optioned Russell Lake
Uranium Project from Rio Tinto, which hosts historical high -grade uranium drill intercepts over a
large property area with robust exploration upside potential. The Company is actively advancing
these projects through exploration and drill programs.
Skyharbour has joint-ventures with industry-leader Orano Canada Inc. and Azincourt Energy at
the Preston and East Preston Projects, respectively, whereby Orano and Azincourt earned
majority interests in the projects through exploration expenditures, cash p ayments and share
issuances. Skyharbour also has several active earn-in option partners including: ASX-listed Valor
Resources at the Hook Lake Uranium Project; CSE-listed Basin Uranium Corp. at the Mann Lake
Uranium Project; CSE-listed Medaro Mining Corp. at the Yurchison Project; Yellow Rocks Energy,
a private Australian entity, at the Wallee and Usam Island projects; North Shore Energy Metals at
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the South Falcon Project; and TSX -V listed Tisdale Clean Energy at the South Falcon East
Project which is host to the Fraser Lakes Zone B Uranium and Thorium Deposit.
Collectively, Skyharbour has now signed earn -in option agreements with partners that total to
potentially over $33 million in partner-funded exploration expenditures, over $26 million worth of
shares being issued and over $19 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/maps/SKY_SaskProject_Locator_20231219_V2.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 the 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 or 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 forwa rd-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 results 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, mar ket or
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business conditions. Please see the public filings of the Company at www.sedar.com for
further information.