Skyharbour Announces and Closes $600,000 Private Placement of Flow-Through Shares
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
May 16th, 2017
NEWS RELEASE
Skyharbour Announces and Closes $600,000 Private Placement of Flow-Through Shares
Vancouver, BC - Skyharbour Resources Ltd. (TSX-V: SYH) (OTCQB: SYHBF) (Frankfurt:
SC1P) (the “Company”) announces that it has arranged and closed a non -brokered private
placement of 1,000,000 flow-through shares (the “ FT Shares”) at a price of CAD $0.60 per FT
Share, for total gross proceeds of CAD $600,000. A strategic, institutional investor subscribed for
the full amount of the financing.
Skyharbour intends to utilize the proceeds from this private placement for exploration and
diamond drilling at the Moore Uranium project. The Company is fully funded for multiple upcoming
diamond drill programs at its flagship Moore Uranium project located on the southeast side of the
Athabasca Basin proximal to regional infrastructure, as well as nearby development projects and
producing mines.
In connection with the financing, Skyharbour issued a tot al of 70,000 warrants to finders (the
“Finder’s Warrants”) who introduced certain subscribers to the private placement. Each Finder's
Warrant will entitle the finder to purchase one additional common share for two (2) years at a
price of CAD $0.75 per common share. The Company also paid to finders a total of CAD $42,000
in cash fees associated with this financing. The private placement is subject to TSX Venture
Exchange approval, and all securities are subject to a four-month hold period.
Further, the Company announces an amendment to the amount of finders fees paid pursuant to
the financing closed on April 18, 2017. The Company issued an aggregate of 127,322 Finder’s
Warrants and paid a total $85,948.30. Details of the Finder’s Warrants can be found on the
Company’s news release issued April 18, 2017.
About Skyharbour Resources Ltd.:
Skyharbour holds an extensive portfolio of uranium and thorium exploration projects in Canada's
Athabasca Basin and is well positioned to benefit from improving uranium market fundamentals
with five drill-ready projects. In July 2016, Skyharbour acquired an option from Denison Mines to
acquire 100% of the Moore Uranium Project which is located 20 kilometres east of Denison’s
Wheeler River project and 39 kilometres south of Cameco’s McArthur River mine. Moore is an
advanced stage uranium exploration property with a high grade uranium zone known as the
Maverick Zone with drill results including 21% U3O8 over 1.5 metres at a vertical depth of 265
metres. Skyharbour recently signed an option agreement with AREVA Resources Canada
2
whereby AREVA can earn in 70% on the Company’s Preston Project through $8 million in
project consideration. Preston is a large, geologically prospective property proximal to Fission
Uranium’s Triple R deposit as well as NexGen Energy’s Arrow deposit. The Company also owns
a 100% interest in the Falcon Point Uranium Project on the eastern perimeter of the Basin which
hosts an NI 43-101 inferred resource totaling 7.0 million pounds of U3O8 at 0.03% and 5.3 million
pounds of ThO2 at 0.023%. The project also hosts a high grade surface showing with up to 68%
U3O8 in grab samples from a massive pitchblende vein, the source of which has yet to be
discovered. The Company’s 100% owned Mann Lake Uranium project on the east side of the
Basin is strategically located adjacent to the Mann Lake Joint Ven ture operated by Cameco,
where high -grade uranium mineralization was recently discovered . 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:
http://skyharbourltd.com/_resources/SYH_Landpackage_2014.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:
Nick Findler
Corporate Development and Communications
Skyharbour Resources Ltd.
Telephone: 604-687-3850
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.
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. 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, continued
availability of capital and financing, and general economic, market or business conditions. Please see the
public filings of the Company at www.sedar.com for further information.