Skyharbour’s Partner Company Valor Initiates Phase I Work at Hook Lake Uranium Project; Skyharbour to Participate in Red Cloud’s 2021 Pre-PDAC Mining Showcase and Exhibiting at PDAC 2021 Convention
Suite 1610 –777Dunsmuir Street, Vancouver, BC, Canada, V7Y1K4
www.skyharbourltd.com
TSX-V Trading Symbol: SYH
Email: [email protected]
Telephone: (604) 687-3376
Facsimile: (604) 687-3119
March 2nd, 2021
News Release
Skyharbour’s Partner Company Valor Initiates Phase I Work at Hook Lake Uranium Project;
Skyharbour to Participate in Red Cloud’s 2021 Pre-PDAC Mining Showcase and Exhibiting
at PDAC 2021 Convention
Vancouver, BC - Skyharbour Resources Ltd. (TSX-V: SYH) (OTCQB: SYHBF) (Frankfurt:
SC1P) (the “Company”) announced that partner company Valor Resources Limited (“Valor”) has
entered into an Agreement with TerraLogic Exploration Inc. (“TerraLogic”) to provide mineral
exploration services on its Hook Lake (previously called North Falcon Point) uranium project located
in the eastern Athabasca Basin area of Saskatchewan. The first phase of exploration work will be an
airborne geophysical survey over the Hook Lake Project. TerraLogic is currently finalizing the flight
grid and technical parameters for the survey and soliciting quotes from airborne contractors with
contracts anticipated to be finalized in March.
Hook Lake (North Falcon Point) Property Location
https://skyharbourltd.com/_resources/maps/hooklakeproject.png
The Hook Lake Project consists of 16 contiguous mining claims covering 25,846 hectares, located
60 km east of the Key Lake Uranium Mine in northern Saskatchewan. The property hosts over half
a dozen significant uranium occurrences including the main Hook Lake/Zone S showing where grab
samples from trenching returned assays of up to 63% U3O8 (see Valor ASX Release dated October
22, 2020). Skyharbour signed a Definitive Agreement with ASX-listed Valor Resources on the Hook
Lake (previously North Falcon Point) Uranium Project whereby Valor can earn-in 80% of the project
through $3,500,000 in total exploration expenditures, $475,000 in total cash payments over three
years and an initial share issuance.
In conjunction with the new airborne survey, Valor is also compiling and reinterpreting data and
results from previous exploration work on the property. Based on the results of the Phase I airborne
survey and a review of the historical data, Valor expects to implement a Phase II groundwork
program in June/July 2021. Details of this work will be the subject of forthcoming announcements
but is likely to include further ground geophysics as well as geochemical surveys, geological mapping
and surface prospecting designed to delineate drill targets for a Phase III program.
About Hook Lake Project:
Valor has the right to earn an 80% working interest in the Hook Lake Uranium Project located 60 km
east of the Key Lake Uranium Mine in northern Saskatchewan. Covering 25,846 hectares, the 16
contiguous mineral claims host several prospective areas of uranium mineralisation including:
• Hook Lake / Zone S - High grade surface outcrop with reported grades in grab samples up
to 68% U 3O8; a bio -geochemical survey carried out over the trenches in 2015 responded
positively with along-strike anomalies 2 km to the northeast
• Nob Hill - Fracture-controlled vein-type uranium mineralisation on surface outcrop with up to
0.130% - 0.141% U3O8 in grab samples; diamond drilling intersected anomalous uranium in
several drill holes with values up to 422 ppm U over 0.5 m
• West Way - Vein type U mineralisation within a NE-trending shear zone; grab samples taken
from the surface showing contained variable uranium values i ncluding up to 0.475% U 3O8
and drilling of the structure intersected the altered shear zone at depth, along with anomalous
Cu, Ni, Co, As, V, U, & Pb
• Grid T - Fracture-hosted secondary uranium mineralisation in sheared calc -silicates and
marbles in a 100 m x 20 m zone of anomalous radioactivity with grab samples having up to
800 ppm U
• Alexander Lake Boulder Field - 30 biotite -quartz-k-feldspar pegmatite boulders NE of
Alexander Lake; the best results include 360 ppm U, 1,400 ppm U and 1,600 ppm U
respectively
• Thompson Lake Boulder Field - Numerous radioactive boulders and blocks of pegmatized
meta-arkose, pegmatite, and granite; the best value obtained was 738 ppm U from a granite
boulder
• NE Alexander Lake – Several calc-silicate, plagioclase-quartz granulite, quartzite, and meta-
arkose boulders with up to 4,800 ppm U, 7,600 ppm Mo and 1,220 ppm Ni
The project area is in close proximity to two all-weather northern highways and grid power. Historical
exploration has consisted of airborne and ground geophysics, multi-phased diamond drill campaigns,
detailed geochemical sampling and surveys, and ground -based prospecting culminating in an
extensive geological database for the project area.
About Valor Resources Ltd:
Valor Resources Limited (ASX: VAL) is an exploration company listed on the Australian Securities
Exchange focused on creating shareholder value through acquisitions and exploration activities. The
company is acquiring uranium projects in the Athabasca Basin of Northern Saskatchewan, Canada
through the acquisition of Pitchblende Energy Pty Ltd.
George Bauk is the Executive Chairman of Valor and has over 30 years of experience within the
resource industry in both production and exploration with assets in Australia and internationally. Mr.
Bauk holds a Bachelor of Business (Accounting and Finance) from Edith Cowan University, is a
Fellow of the CPA and has an MBA from the University of New England. He has held global
operational and corporate roles with WMC Resources and Western Metals. Mr. Bauk has a strong
background in strategic management, business planning, capital raising, and has experience with a
variety of commodities. Mr. Bauk is a member of the WA resources industry having previously held
a number of senior governing positions with the Chamber of Minerals and Energy including Vice
President.
Mr. Bauk has overseen several uranium exploration projects in the US, Tanzania and Western
Australia, partnering with AREVA in Western Australia whilst being Managing Director of Northern
Uranium prior to transitioning to Northern Minerals. In 2006, Mr. Bauk was focussed on the southern
Tanzanian region which was the region known for the successful Mkuju River discovery by Mantra
Resources. During his time as Managing Director of Northern Minerals, he led its rapid development
from a greenfields heavy rare earth explorer to one of a few global producers of high value
dysprosium outside of China.
Gary Billingsley, a resident of Saskatoon, has also recently joined Valor as a non-Executive Director
and brings over 48 years of experience in the resource industry. Mr. Billingsley holds a Bachelor of
Science Advanced Degree in Geology from the University of Saskatchewan in Canada. He also
obtained his Chartered Accountant designation and currently also holds designations as both a
Professional Engineer and Professional Geoscientist. Mr. Billingsley has held several operational
and corporate roles from Chief Mine Geologist to President and CEO of both small and large public
companies. Besides a strong technical background, he has extensive experience on the corporate
and capital markets side of the industry. He has served on board committees including Audit,
Compensation, Corporate Governance and Environment, Health and Safety committees. His public
company experience covers commodities including oil and gas, base metals, gold, diamonds,
uranium, potash and rare earths.
Some highlights of Mr. Billingsley’s career include leading the team that put Saskatchewan’s largest
gold mine into production, still producing after 29 years; discovering several diamond -bearing
kimberlites in Saskatchewan, one of which has now completed final feasibility; playing a major role
in taking a junior potash company public, that was subsequently purchased by BHP; and establishing
one of the first companies to recognize the importance of developing rare earth projects outside of
China including downstream capacity.
Red Cloud Pre-PDAC Mining Showcase:
Skyharbour is pleased to announce that the Company will be presenting at Red Cloud’s 2021 Pre -
PDAC Mining Showcase. We invite our shareholders and all interested parties to join us there.
The annual conference will be a virtual event this year and will ta ke place from March 3 -5, 2021.
Jordan Trimble, President and CEO, will be presenting on March 3rd at 3:40 PM Eastern Standard
time.
For more information and/or to register for the conference please visit:
https://www.redcloudfs.com/prepdac2021/
PDAC 2021 Convention:
Skyharbour will also be exhibiting at the annual PDAC 2021 Convention, the world's premier mineral
exploration and mining event, which will be held virtually this year from Monday, March 8th until
Thursday, March 11th.
Representatives from the Company will be available to contact during PDAC 2021. Visitors to the
virtual Skyharbour booth, either PDAC attendees or guests of Skyharbour, will be able to find
information on the Company as well as request and book 1-on-1 meetings with management. Visitors
will also be able to view the digital booth and book meetings 24 hours a day during the conference
dates. Skyharbour’s digital booth hyperlink at PDAC 2021 will be made available before the
convention and trade show begins on March 8th.
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
six drill-ready projects. 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 at the Maverick Zone that returned drill results of up to 6.0% U3O8 over 5.9 metres
including 20.8% U3O8 over 1.5 metres at a vertical depth of 265 metres.
Skyharbour has and option agreement with Orano Canada Inc. and a joint venture agreement with
Azincourt Energy. Orano can earn in up to 70% of the Preston and Azincourt recently earned in 70%
of the East Preston Project, respectively, through a combined $9,800,000 in total explor ation
expenditures, as well as $1,700,000 in total cash payments and Azincourt shares. Preston and
Preston East are large, geologically prospective properties proximal to Fission Uranium's Triple R
deposit as well as NexGen Energy's Arrow deposit.
The Company owns a 100% interest in the South Falcon Uranium Project on the eastern perimeter
of the Basin which contains a NI 43 -101 inferred resource totaling 7.0 million pounds of U3O8 at
0.03% and 5.3 million pounds of ThO 2 at 0.023%. Skyharbour has signed a Definitive Agreement
with ASX-listed Valor Resources on the Hooke Lake (previously North Falcon Point) Uranium Project
whereby Valor can earn-in 80% of the project through $3,500,000 in total exploration expenditures,
$475,000 in total cash payments over three years and an initial share issuance.
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/maps/SYH-Athabasca-Map.pdf
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:
Spencer Coulter
Corporate Development and Communications
Skyharbour Resources Ltd.
Telephone: 604-687-3376
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 forward -looking statements. Although management believes t he
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 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.