Skyharbour’s Partner Company Mustang Energy Commences Field Program at 914W Uranium Project Located in the Athabasca Basin, Saskatchewan Vancouver, BC - Skyharbour Resources Ltd . (TSX-V: SYH) (OTCQX: SYHBF) (Frankfurt:
Suite 1030 – 505 Burrard Street, Vancouver, BC, Canada, V7X 1M5
www.skyharbourltd.com
TSX-V Trading Symbol: SYH
Email: [email protected]
Telephone: (604) 558-5847
Facsimile: (604) 687-3119
May 26th, 2025
News Release
Skyharbour’s Partner Company Mustang Energy Commences Field Program at 914W
Uranium Project Located in the Athabasca Basin, Saskatchewan
Vancouver, BC - Skyharbour Resources Ltd . (TSX-V: SYH) (OTCQX: SYHBF) (Frankfurt:
SC1P) (“Skyharbour” or the “ Company”) is pleased to announce that partner company Mustang
Energy Corp. (“Mustang”) has commenced its 2025 field exploration program at the 914W Uranium
Project (the “Project”), located in Athabasca Basin region. Mustang Energy may acquire a 75%
interest in the Project by issuing common shares having an aggregate value of CAD $480,000,
making aggregate cash payments of $275,000 to Skyharbour, and incurring an aggregate of
$800,000 in exploration expenditures on the property over a three-year period.
914W Property Map:
https://skyharbourltd.com/_resources/projects/914W-image2.jpg
The field program at the Project will involve surface prospecting activities, including detailed rock
and soil sampling, aimed at identifying zones of mineralization and alteration across target areas.
Results from this phase of exploration are expected to inform further exploration efforts, including
geophysical surveys and drilling in future phases. The program marks a step forward in Mustang’s
strategy to advance projects through systematic exploration.
“We’re excited to launch our first field program of the summer at 914W.” said Nick Luksha CEO of
Mustang Energy Corp. “The project area has encouraging geological features, and our upcoming
work is designed to generate meaningful results that will guide the next phases of exploration.”
914W Property Summary:
The 914W Project consists of one claim covering 1,260 hectares approximately 48 km southwest of
Cameco’s Key Lake Operation. Highway 914 runs through the western edge of the project, providing
excellent access for exploration. Historical geological mapping of the property and the surrounding
area has shown that the project is predominantly underlain by prospective Wollaston Supergroup
pelitic and psammitic to arkosic gneisses of the Western Wollaston Domain, which hosts significant
unconformity-related uranium mineralization in the Athabasca Basin as well as pegmatite -hosted
uranium mineralization elsewhere in the Wollaston Domain.
Despite the project’s proximity to Highway 914 and prospective geology, the project has seen limited
modern exploration work. The earliest work on the 914W property included airborne EM and
magnetic surveys and ground geological reconnaissance in 1968 -1970, lake water and sediment
sampling in 1976, ground VLF -EM, magnetic, and radiometric surveys, geological map ping,
trenching, as well as sampling on the project and surrounding areas. Immediately to the north of the
914W property, prospecting led to the discovery of the Scurry Rainbow Zone E (SMDI1961) and the
Don Lake Trenches (SMDI 1983), where up to 1,288 ppm U was encountered in drill hole ML -1
(SMDI1961) in a pyroxene-rich unit, and surface prospecting revealed up to 0.64% U3O8 in a trench
at Don Lake Zone E (SMDI 1983). More recently, the project has seen airborne geophysical
coverage by helicopter-borne VTEM (southern half) in 2005 and Tempest TDEM (northern half) in
2007, with prospecting, geological mapping, rock/sediment sa mpling and lake sediment s ampling
occurring on the project and surrounding areas in 2005 -2007. The project remains underexplored
and prospective for unconformity-related and pegmatite-hosted uranium and REE’s.
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., a Consulting Geologist 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. Adjacent 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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