Skyharbour Announces Drilling Underway and Renewed Permit at the High-Grade Moore Lake Uranium Project, Saskatchewan Vancouver, BC - Skyharbour Resources Ltd. (TSX-V: SYH) (OTCQX: SYHBF) (Frankfurt: SC1P) (“Skyharbour” or the “Company”) is pleased to announce that drilling is underway for the
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www.skyharbourltd.com
TSX-V Trading Symbol: SYH
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Telephone: (604) 558-5847
Facsimile: (604) 687-3119
April 1st, 2026
NEWS RELEASE
Skyharbour Announces Drilling Underway and Renewed Permit at the High-Grade Moore
Lake Uranium Project, Saskatchewan
Vancouver, BC - Skyharbour Resources Ltd. (TSX-V: SYH) (OTCQX: SYHBF) (Frankfurt:
SC1P) (“Skyharbour” or the “Company”) is pleased to announce that drilling is underway for the
first phase of the campaign this year at its 100%-owned, 35,705 hectare Moore Uranium Project
(“Moore” or the “Project”), located approximately 15 kilometres east of Denison Mines ’ Wheeler
River project in the eastern Athabasca Basin, Saskatchewan . Skyharbour has also received a
renewed three-year drill permit at the Project valid through March 2029.
Moore Uranium Project Location Map:
https://skyharbourltd.com/_resources/images/SkyHarbour_Moore.jpg?v1
Skyharbour has commenced its multi-phased 2026 drill campaign at Moore, which is planned to
total 8,000 to 10,000 metres of diamond drilling at the Maverick Trend and other regional targets.
The Phase I program that is underway is expected to consist of approximately 4,000 to 5,000
metres in 10 to 12 drill holes.
The Company recently completed 58.3 line -kilometres of ground Step Loop Transient
Electromagnetic (“SLTEM”) survey coverage earlier this year , extending existing ground
geophysical coverage by 2 kilometres to the southwest along the broader 12 -kilometre-long
Maverick Trend. This structural corridor coincides with intense hydrothermal alteration and
structural disruption intersected during 2025 exploration drilling at the new Nomad target. The
survey refined existing targets and delineated additional EM conductors for drill testing along the
interpreted Nomad structural trend. In parallel with field activities, Skyharbour has also engaged
SMCG Services to undertake advanced data integration and AI-assisted prospectivity modelling
to further refine and prioritize drill targeting across the Moore Project.
EM Grid Coverage and the Newly Interpreted Conductors at Nomad Target:
https://skyharbourltd.com/_resources/news/2026-Moore-Lake-Nomad-SLTEM-v4.jpg
This Phase I drilling program is initially focused on the Nomad Zone where drilling is testing priority
gravity anomalies and newly delineated EM conductors along the Nomad structural corridor.
Follow-up drilling is also planned at the Esker target area to the northeast where the Company
will evaluate the potential strike extension of mineralization intersected in historical drill hole ML-
165, which returned 1.21% U3O8 over 0.5 metres at the unconformity.
In addition, this phase of drilling will include expansion drilling at the Maverick Zones, targeting
the largely untested basement-hosted potential associated with previously intersected high-grade
mineralization. Drilling is also planned at the Nutana target where historical drilling inter sected
strong dravite alteration and graphitic basement conductors that remain inadequately tested due
to wide drill spacing.
Target Zone Summaries:
The Nomad Zone was identified in 2025 following the reprocessing and reinterpretation of a
historical 2005 ground gravity survey, which outlined a previously unrecognized structural corridor
along the broader Maverick Trend. The zone lies approximately 1.7 kilometres west-southwest of
the Main Maverick Zone along the interpreted Maverick structural corridor, and prior to 2025 the
area had seen very little drilling. Drilling completed in 2025 intersected strongly faulted, desilicified
and locally silicified sandstone above the unconformity, and intensely altered basement rocks
below, including pervasive silicification and hematization of pelitic gneiss and localized graphitic
units.
Results from the 2025 program at Nomad confirmed the presence of a broad, structurally
controlled hydrothermal system characterized by pervasive faulting, strong clay alteration, and
significant silicification affecting both sandstone and basement lithologies. The scale and intensity
of alteration, toge ther with associated conductors, indicate a fertile corridor analogous to that
hosting mineralization at Maverick. Both unconformity and basement -hosted targets remain
largely untested along strike to the southwest.
The Esker Zone target is located approximately 3 kilometres northeast of Maverick along the
same interpreted structural corridor. Historical drill hole ML -165 returned 1.21% U3O8 over 0.5
metres at the unconformity. Historical drilling encountered graphitic conductors with pronounced
faulting, and clay–hematite alteration characteristic of unconformity-related uranium systems. The
northeast strike extension of the ML -165 mineralization remains largely untested beneath lake
cover. The Phase I 2026 drill program will test prioritized EM and resistivity anomalies interpreted
to lie along strike of the ML-165 mineralized structure, as well as untested conductors northeast
along trend.
The Nutana Zone is situated within a structurally controlled corridor proximal to Maverick and
remains relatively underexplored. Historical drilling intersected multiple graphitic conductors
below the unconformity, accompanied by strong bleaching, localize d limonitic sandstone
alteration, and strong dravitic clay development. Dravite is widely regarded as a proximal
alteration mineral in Athabasca Basin uranium systems and is commonly associated with both
unconformity and basement-hosted high-grade uranium deposits throughout the basin.
Basement lithologies at Nutana consist of structurally disrupted pelitic to granodioritic gneisses
with quartz flooding, and extensive shearing. Weakly elevated radioactivity and fault -controlled
alteration confirm an active hydrothermal system. Historical drilling tested this corridor with wide
spacing, and structural and geophysical characteristics indicate mineralization potential along
strike.
Data Integration and Targeting Enhancement Using AI:
Skyharbour has engaged SMCG Services, led by Drew Heasman, a geoscientist and data
scientist specializing in advanced mineral targeting and integrated exploration analytics. Mr.
Heasman is an internationally recognized award recipient, including the 2024 F uture Explorers
Challenge (Dundee Precious Metals / Humyn.ai) and the 2022 Frank Arnott: Next Generation
Explorers Award.
At the Moore Project, SMCG Services will undertake regional - to project -scale prospectivity
mapping and data -driven anomaly detection, integrating geological, geochemical, geophysical,
structural, and PIMA clay mineral data into a unified targeting framework. The objective is to
systematically identify and prioritize exploration trends and under -evaluated target areas across
the broader Maverick Trend and associated structural corridors. This work will complement
ongoing drilling and geophysical programs and is designed to enhance targeting efficiency and
support future drill campaign planning.
Moore Uranium Project Overview:
In June 2016, Skyharbour secured an option to acquire Denison Mine's Moore Uranium Project,
on the southeastern side of the Athabasca Basin, in northern Saskatchewan and has since fulfilled
its earn-in. The project consists of 12 contiguous claims totaling 35,705 hectares located 42
kilometres northeast of the Key Lake mill, approx. 15 kilometres east of Denison’s Wheeler River
project, and 39 kilometres south of Cameco’s McArthur River uranium mine. Unconformity-hosted
uranium mineralization was discovered on the Moore Project at the Maverick Zone with historical
drill highlights consisting of 4.03% eU3O8 over 10 metres, including 20% eU3O8 over 1.4 metres,
in ML-161. In 2017, Skyharbour announced drill results of 6.0% U 3O8 over 5.9 metres, including
20.8% U 3O8 over 1.5 metres at a vertical depth of 265 metres, in hole ML -199. More recently,
2025 drilling at the Main Maverick Zone returned 4.84% U3O8 over 4.4 metres, including 11.77%
U3O8 over 1.6 metres in hole ML25 -15, further confirming the continuity of high -grade
unconformity-related mineralization.
Moore Uranium Project Regional Grid Targets Map:
http://skyharbourltd.com/_resources/maps/Moore-Lake-Property-Wide.jpg
In addition to the Main and East Maverick Zones, the project hosts other mineralized targets with
strong discovery potential which the Company plans to test with future drill programs. The project
is fully accessible via winter and ice roads which simplifies logistics and lowers costs. Large
proportions of the property are accessible in the summer as well.
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 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 forty-three projects covering over 662,887 hectares (1,638,029 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 uranium mineralization at the
Maverick Zone highlighted by drill results of up to 6.0% U 3O8 over 5.9 metres, including 20.8%
U3O8 over 1.5 metres at a vertical depth of 265 metres. Adjacent to Moore, Skyharbour is
advancing several uranium properties within the broader Russell Lake project area with its joint
venture partner and large strategic shareholder Denison Mines. Collectively these co-flagship
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 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; 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 potentially over $76 million in partner-funded exploration expenditures and over $42
million in cash and share payments coming into Skyharbour, assuming that these partner
companies complete the earn-ins at their 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_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 developments 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 re garding present and
future business strategies and the environment in which the Company will operate 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 materia l 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 p ermits, 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 contractual obligations. The Company does not undertake to
update forward‐looking statements or forward‐looking information, except as required by law.