Skyharbour Raises Additional $1.3 Million through Recent Warrant Exercise
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 31st, 2017
NEWS RELEASE
Skyharbour Raises Additional $1.3 Million through Recent Warrant Exercise
Vancouver, BC - Skyharbour Resources Ltd. (TSX-V: SYH) (OTCQB: SYHBF) (Frankfurt:
SC1P) (“Skyharbour”) is pleased to announce that 3.4 million warrants have been exercised
recently raising an additional $1.3 million in net proceeds for the Company. The majority of these
warrants were issued five years ago in a private placement and had an exercise price of $0.40.
The remainder of these warrants exercisable at $0.40 have now expired . Skyharbour is fully
funded for its upcoming 3,500 metre drill program at its Flagship Moore Lake Uranium Project
which has a budget of approx. $1 million. The Company is well financed with approx. $2.8 million
in the treasury and 47.1 million shares issued and outstanding.
Upcoming Drill Program at Moore Lake:
In June 2016, Skyharbour secured an option to purchase Denison Mine's Moore Lake project, on
the southeastern side of the Athabasca Basin, in northern Saskatchewan. The project consists of
12 contiguous claims totaling 35,705 hectares located 42 kilometres northeast of the Key Lake
mill, approx. 20 kilometres east of Denison’s Wheeler River project, and 39 kilometres south of
Cameco’s McArthur River mine. Unconf ormity style uranium mineralization was discovered on
the Moore Lake project at the Maverick Zone in April 2001. Historical drilling highlights include
4.03% eU3O8 over 10 metres (including 1.4 metres at 20% eU3O8) starting at a depth of 264.68
metres in hole ML-61. In addition to the Maverick Zone, the project hosts other mineralized targets
with strong discovery potential which the Company plans to test in the upcoming drill program.
The project is accessible via winter and ice roads which simplifies logistics and lowers costs.
Moore Lake Uranium Project Claims Map:
http://skyharbourltd.com/_resources/maps/MooreLakeRegionalTenure.jpg
Skyharbour has now received drill permits for a planned 3,500 metre drill program at the Moore
Lake Project which is slated to commence shortly and is expected to be completed in March. The
3,500 metre drill program will consist of 10 to 13 drill holes ran ging in depth from 200 metres to
400 metres. The majority of the drilling will test and look to expand the Maverick Zone with targets
both in the underlying basement rock as well as along strike of the known high grade, main
Maverick mineralized lens. Addi tionally, several drill holes will test the 527 and the 525 Zones
which are located along the Maverick corridor approx. 500 metres and 1,500 metres respectively,
east of the main Maverick mineralized lens.
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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 Lake 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 Lake is
an advanced stage uranium exploration property with over $30 million in historical exploration,
370 diamond drill holes, and a high -grade uranium zone known as the Maverick Zone with drill
results including 4.03% eU3O8 over 10 metres at a vertical depth of 265 metres. The Company
owns a 100% interest in th e Falcon Point (formerly Way Lake) 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. Skyharbour also has a 50% interest in the large,
geologically prospective Preston Uranium Project proximal to Fission Uranium’s Triple R deposit
as well as NexGen Energy’s Arrow deposit. 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
Venture operated by Cameco with partners Denison Mines an d AREVA, 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: 604-639-3850
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
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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.