Skyharbour Intersects High-Grade Uranium in Significant 42 m Step Out Hole ML24-15 which Returned 4.74% U3O8 over 1.5 m within 6.4 m of 1.50% U3O8 at Moore Project
Suite 1030 – 505 Burrard Street, Vancouver, BC, Canada, V7X1M5
www.skyharbourltd.com
TSX-V Trading Symbol: SYH
Email: [email protected]
Telephone: (604) 687-3376
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June 10th, 2025
NEWS RELEASE
Skyharbour Intersects High-Grade Uranium in Significant 42 m Step Out Hole ML24-15
which Returned 4.74% U3O8 over 1.5 m within 6.4 m of 1.50% U3O8 at Moore Project
Vancouver, BC - Skyharbour Resources Ltd. (TSX-V: SYH) (OTCQX: SYHBF) (Frankfurt:
SC1P) (the “Company”) is pleased to announce the remaining assay results from its late 2024
diamond drilling program at its 100% owned, 35,705 hectare Moore Uranium Project, which
totaled 2,759 metres in nine holes. The project is located approximately 15 kilometres east of
Denison Mine’s Wheeler River project and proximal to regional infrastructure for Cameco’s Key
Lake and McArthur River operations in the Athabasca Basin, Saskatchewan. A highlight from this
program was from hole ML24-15, which intersected 6.4 metres of 1.50% U3O8 from a relatively
shallow downhole depth of 275.0 metres to 281.4 metres, including 4.74% U3O8 over 1.5 metres.
Hole ML24-15 was drilled well outside the known footprint of the high-grade Maverick East Zone,
extending its high-grade core approximately 42 metres to the northeast representing one of the
most consequential expansion drill holes at the Project. Skyharbour plans to continue advancing
Moore through additional drilling this summer , alongside the fully-funded multi-phased drill
programs at the Company’s adjacent Russell Lake Uranium Project.
Moore Uranium Project Claims Map:
https://skyharbourltd.com/_resources/images/Sky_MooreLake.jpg?v=1
Jordan Trimble, President and CEO of Skyharbour Resources, stated: “Drill hole ML24 -15
represents a significant development at the Moore Project as it extends the high-grade Maverick
East Zone over 40 metres to the northeast. The drill result demonstrates the high-grade, shallow
nature of uranium mineralization and opens up the area to additional drilling and potential
resource expansion. We are preparing for another phase of low-cost drilling this summer at Moore
to further delineate the numerous high-grade zones of uranium on the Maverick Corridor, and we
also plan to test prospective regional targets t hat have had limited drill -testing historically.
Furthermore, our ongoing drilling is progressing very well at our co-flagship and adjacent Russell
Lake project with additional news forthcoming from both projects.”
Highlights:
• Hole ML24-15 intersected 6.4 metres of 1.50% U3O8 from a relatively shallow downhole
depth of 275.0 metres to 281.4 metres, including 4.74% U3O8 over 1.5 metres.
• Notably, the hole was drilled well outside the known footprint of the Maverick East Zone,
extending its high-grade core approximately 42 metres to the northeast. This illustrates
the strong expansion potential at the high-grade zones.
• Preparation is underway for a fully-funded 4,500 – 5,000 metre summer drill program at
Moore focused at Main Maverick and Maverick East Zones as well as high-priority
regional targets.
• Ongoing first phase of drilling consisting of a minimum of 5,000 metres at the Russell
Lake Project, focusing on the newly discovered Fork Zone, which has high-grade
uranium mineralization hosted at the unconformity, as well as testing other newly
identified high-priority targets at the Fox Lake Trail and Sphinx targets.
• In total, the company is planning to drill between 16,000 – 18,000 metres across the
Russell and Moore projects this year and is fully funded and permitted to do so.
Summary of 2024 Drilling Campaign at Moore:
The phase of drilling on the Moore Project later in 2024 totalled 2,759 metres in nine holes. Of
the nine holes, four holes (ML24-10 to -12 and ML24-18) focused on the Main Maverick Zone and
five holes (ML24-13 to -17) on the Maverick East Zone. The primary objective of the summer
program was to extend and expand the boundaries of the Main Maverick and Maverick East
Zones with all but one hole successfully intersecting uranium mineralization . Drill hole ML24-15
which intersected 6.4 m of 1. 50% U3O8 successfully expands the Maverick East zone over 40
metres along strike to the northeast with more drilling warranted in the area.
Moore Uranium Project Regional Grid Targets Map:
http://skyharbourltd.com/_resources/maps/Moore-Lake-Property-Wide.jpg
Four exploration holes totalling 1,195 metres were drilled in and around the Main Maverick Zone
to expand the shallow high-grade mineralized zone. All of these holes were drilled vertically and
intersected significant uranium mineralization at the unconformity, centred around 265 metres to
275 metres downhole depth. The majority of the high -grade uranium mineralization at the Main
Maverick Zone is sandstone -hosted, situated at or just above the unconformity. Hole ML24-11
intersected 0.76% U3O8 over 1.0 m starting at 268.0 m depth, including 1.09% U3O8 over 0.5 m,
and 0.40% U3O8 over 0.5 m at 285.0 m. Hole ML24-12 intersected 0.21% U3O8 over 1.0 m starting
at 268.0 m depth. Hole ML24-18 intersected 0.10% U3O8 over 5.5 m starting at 271.0 m.
Main Maverick Zone Drilling Map:
https://www.skyharbourltd.com/_resources/news/Maverick_Main_2024.jpg
An additional five exploration holes, totalling 1,564 metres, were drilled in and around the
Maverick East Zone to connect mineralization with Main Maverick and to expand mineralization
east along strike. Four of these holes were drilled vertically, and one oriented hole was drilled to
obtain structural measurements. Much like at Main Maverick , mineralization is concentrated
directly above the unconformity, between 260 metres and 285 metres. Hole ML24-13 intersected
0.14% U3O8 over 6.4 m starting at 268.5 m, including 0. 63% U3O8 over 1.0 m at 269.0 m ,
and 0.30% U3O8 over 1.0 m at 273.9 m. Hole ML24-14 intersected 0.04% U3O8 over 1.0 m starting
at 287.2 m. Hole ML24-15 intersected 1.50% U3O8 over 6.4 m starting at 275.0 m depth, including
4.74% U3O8 over 1.5 m. Hole ML24-16 intersected 0.10% U 3O8 over 0.5 m starting at 314.0 m.
Hole ML24-17 intersected 0.16% U3O8 over 3.0 m starting at 274.0 m depth.
Maverick East Zone Drilling Map:
https://www.skyharbourltd.com/_resources/news/Maverick_East_2024.jpg
In addition to the assay results reported here, previously reported drill results from the first phase
of drilling earlier in 2024 included notable high -grade intercepts at Moore . Highlight drill hole
ML24-08 intersected 5.0 metres of 4.61% U 3O8 between 265.5 metres and 270.5 metres depth
including 3.0 metres of 7.30% U 3O8 between 266.0 metres to 269.0 metres depth at the Main
Maverick Zone . Another notable hole was ML 24 -03, which intersected a broad interval of
mineralization grading 1.11% U 3O8 over 11.5 metres between 266.8 metres to 278.3 metres
depth, including 5.87% U3O8 over 2.0 metres (see news release dated July 11th, 2024).
2025 Summer and Fall Drilling Plans:
Skyharbour is planning for an additional, fully-funded 4,500 – 5,000 metres of drilling at the Main
Maverick and Maverick East Zones to further expand, characterize and define the extents of the
mineralized zones. Both of these high-grade zones are open along strike and at depth, with little
historical drilling testing the underlying basement rocks. Furthermore, Skyharbour plans to test
regional targets at Moore that have been further refined with modern geophysics and new
geological modelling. This drilling will take place in conjunction with the multi -phased drilling
campaign this year at the adjacent Russell Lake Project. Both drilling programs will be run using
the Compan y’s McGowan Lake camp on Highway 914 as a base of operations, making
exploration at both properties very cost-effective. In total, the company plans to drill 16,000 -
18,000 metres in 35 - 45 drill holes across the projects in 2025.
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% U3O8 over 1.5 metres at a vertical depth of 265 metres, in hole ML-199. 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 proportion s of the
property are accessible in the summer as well.
Moore Lake Uranium Project Geophysics Map:
http://skyharbourltd.com/_resources/maps/MooreLake-Basic-geo-revamp.jpg
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 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. Adja cent 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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