Skyharbour Partner Company Terra Clean Energy Announces an Upcoming Drill Program at the South Falcon East Uranium Project Vancouver, BC - Skyharbour Resources Ltd. (TSX -V: SYH) (OTCQX: SYHBF) (Frankfurt: SC1P) (“Skyharbour” or the “Company”) is pleased to report that its partner company Terra Clea
Suite 1030 – 505 Burrard Street, Vancouver, BC, Canada, V7X1M5
www.skyharbourltd.com
TSX-V Trading Symbol: SYH
Email: [email protected]
Telephone: (604) 558-5847
Facsimile: (604) 687-3119
April 30th, 2026
News Release
Skyharbour Partner Company Terra Clean Energy Announces an Upcoming Drill Program at
the South Falcon East Uranium Project
Vancouver, BC - Skyharbour Resources Ltd. (TSX -V: SYH) (OTCQX: SYHBF) (Frankfurt:
SC1P) (“Skyharbour” or the “Company”) is pleased to report that its partner company Terra Clean
Energy Corp. (“Terra” ) is preparing to commence a targeted drill program on the Fraser Lakes B
Uranium Deposit following up on the very encouraging results reported in the winter 2025 program.
Skyharbour optioned the Project to Terra and under the Option Agreement, assuming the full 75%
interest is earned, Terra will fund exploration expenditures totaling CAD $10,500,000, as well as pay
Skyharbour $11,100,000 in cash, of which $6, 500,000 can be settled for shares in the capital of
Terra over the earn-in period.
Map of South Falcon East Project Claims:
https://www.skyharbourltd.com/_resources/news/SkyHarbour_South_Falcon_East.jpg
Upcoming Summer 2026 Drill Program:
Terra is planning an extensive follow -up drill program for late summer of 2026, consisting of up to
2,500 meters of drilling. The purpose is to test an area highlighted in the winter 2025 program where
it is interpreted that a north-northwest trending brittle structure, a north dipping structure with strong
clay alteration, and mineralized pegmatites with hydrothermal hematite alteration hosted in graphitic
pelitic gneiss all int ersect. This puts many of the indicators identified as being key components for
higher grade uranium mineralization all in the same location.
It is generally accepted that for higher -grade uranium deposits in the Athabasca Basin there are
several key indicators: graphitic metasediments, brittle reactivated basement structures, reducing
fluid (indicated by clay alteration), and oxidizing fluid (indicated by hematite alteration, transports
uranium). All these features have now been identified in the Fraser Lakes B Summer Target Area.
Where they are projected to intercept is considered a top -priority target area for the discovery of a
higher-grade, unconformity-related basement hosted uranium deposit and additional mineralized
pegmatites.
The upcoming program will be a helicopter supported drill program encompassing seven to ten
diamond drill holes targeting an area approximately 120 to 150 m north of drill holes SF0063,
SF0065, SF0066 and SF0067 which were completed during the winter progr am. The summer field
program is anticipated to commence mid to late August. The campaign will be executed by Terralogic
Exploration Inc. under the supervision of their staff and C. Trevor Perkins, Vice President, Exploration
for Terra. Operations will be b ased out of a local contracting camp with helicopter support for the
daily drilling operations. The expected budget for this program is anticipated to be CAD $1.75 million.
2025 Completed and Historical Drilling at Fraser Lakes Zone B
https://www.skyharbourltd.com/_resources/news/2025-Completed-and-Historic-Drilling-Fraser-
Lakes-Zone-B.png
“We are excited to get back in there and test where the clay alteration intersects the mineralized
zone and graphitic sediment package,” commented Trevor Perkins , VP Exploration, Terra Clean
Energy. “This is an exciting target as it can bring together many of the key features associated with
the known basement hosted unconformity deposits in and around the Athabasca Basin”.
Terms of the Option Agreement:
Under a revised agreement, the outstanding requirements for Terra to earn a 51% interest in South
Falcon East are as follows:
On execution of the amendment: (a) Issuing Skyharbour Resources Ltd. (“Skyharbour”) 2,650,000
common shares; and (b) making a CAD $100,000 cash payment to Skyharbour;
1. On or before July 31, 2027, incurring an additional $1,400,000 in work expenditures on South
Falcon East (with $75,000 of such work expenditures to have been incurred on or prior to
October 1, 2026)
2. On or before July 31, 2028: (a) incurring an additional $1,000,000 in work expenditures on
South Falcon East; (b) issuing Skyharbour $1,770,000 in common shares based on the
VWAP calculated on the day of issuance; and (c) making a $1,700,000 cash payment to
Skyharbour.
Upon having earned a 51% interest in South Falcon East, Terra will have the option to earn an
additional 24% interest in South Falcon East (bringing its interest to 75%) by:
1. On or before January 1, 2029, incurring an additional $2,500,000 in work expenditures on
South Falcon East;
2. On or before January 1, 2030: (a) incurring an additional $3,500,000 in work expenditures on
South Falcon East; (b) issuing Skyharbour $4,500,000 in common shares based on the
VWAP calculated on the day of issuance; and (c) make a $2,000,000 cash payment to
Skyharbour.
South Falcon East Project Summary:
The South Falcon East Project is a uranium exploration project in the southeast Athabasca Basin
and represents a portion of Skyharbour ’s former Falcon Point Project. The project covers
approximately 12,464 hectares and is located 18 kilometres outside the Athabasca Basin, roughly
50 kilometres east of the Key Lake mill.
The project hosts the Fraser Lakes B Uranium-Thorium Deposit, which contains a historical inferred
resource of 6.9 million pounds U ₃O₈ at an average grade of 0.03% U ₃O₈ and 5.3 million pounds
ThO₂ at 0.023% ThO₂. Mineralization is hosted in shallow, structurally disrupted metasedimentary
rocks and pegmatites, displaying Athabasca-style basement-hosted characteristics and occurring in
association with well-defined EM conductors.
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 Terra Clean Energy Corp.:
Terra Clean Energy (formerly Tisdale Clean Energy Corp) is a Canadian-based uranium exploration
and development company. The Company is currently developing the South Falcon East uranium
project, which hosts an inferred uranium resource within the Fraser Lakes B uranium/thorium deposit,
located in the Athabasca Basin region, Saskatchewan, Canada.
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 list ed 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 ma terially 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 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 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 c limate conditions, failure to obtain or maintain all necessary
government permits, approvals and authoriz ations, 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.