Skyharbour Resources Ltd. (TSX-V:
SYH)
(OTCQX: SYHBF)
(Frankfurt:
SC1P) (the “Company”) is pleased
to announce that it has acquired by low-cost staking new
prospective uranium exploration claims in northern Saskatchewan,
increasing Skyharbour’s total land package that it has ownership
interest in to 587,364 ha (1,451,408 acres) across 29 projects.
These 100% owned claims add an additional 64,267 ha to Skyharbour’s
existing holdings in and around the Athabasca Basin, which is host
to the highest-grade uranium deposits in the world and is
consistently ranked as a top mining jurisdiction by the Fraser
Institute. As the Company remains focused on its co-flagship
Russell Lake and Moore uranium projects, these new claims will
become a part of Skyharbour’s prospect generator business as the
Company will seek strategic partners to advance these assets.
Skyharbour’s New Uranium Project
Portfolio
Map:https://www.skyharbourltd.com/_resources/images/SKY_SaskProject_Locator_2024-02-14.jpg
List of New Properties:
- Bend Project – two mineral claims
covering 9,114 hectares
- Compulsion Project – two mineral
claims covering 10,451 hectares
- Genie Project – five mineral claims
covering 16,930 hectares
- Hartle Project – ten mineral claims
covering 52,518 hectares
- Regambal Project – five mineral
claims covering 24,208 hectares
Property Summaries:
The recently staked minerals claims are all
located in Wollaston Domain just outside of the Athabasca Basin
sandstone and are underlain by prospective Wollaston Supergroup
metasedimentary gneisses including lower Wollaston pelitic gneisses
(± graphite). The properties are prospective for both
basement-hosted unconformity-related U and pegmatite-hosted
U-Th-REE, with additional potential to host base metals and other
critical minerals. Some of these properties have historical
pegmatite-hosted U-Th and base metal showings and historical EM
conductors, with partial coverage of the properties by modern EM,
magnetics, and radiometric surveys.
In addition to the newly staked claims, several
other claims were re-staked during competitive staking rushes in
the Usam and Riou River areas. The newly re-staked Usam project
consists of 40,041 ha over twelve claims, covering a large portion
of prospective Wollaston Supergroup metasedimentary gneisses
northeast of Cameco’s Rabbit Lake Operation. Riou River now
consists of 8,620 ha over six claims in the north-central portion
of the Athabasca Basin and is underlain by Athabasca Supergroup
sandstone and conglomerate.
At Skyharbour’s Highway project, three new
claims non-contiguous with the original claim were added, adding
8,155 ha to project, increasing its size to 9,339 ha. These new
claims are also located in close proximity to Highway 905 and have
historical U-Th pegmatite showings on them.
Red Cloud’s Pre-PDAC Mining Showcase and
the PDAC 2024 Convention:
Skyharbour is pleased to announce that the
Company will be presenting at the Red Cloud Pre-PDAC Mining
Showcase on Thursday, February 29th, and Friday, March 1st, at the
Sheraton Centre Toronto Hotel followed by the PDAC Convention at
the Metro Toronto Convention Centre, Sunday, March 3rd. through
Wednesday, March 6th.
Skyharbour’s President and CEO, Jordan Trimble,
will be presenting at the Red Cloud Pre-PDAC Mining Showcase
Thursday, February 29th, at 11:00 am Eastern Standard Time,
providing an overview and update for the Company. For more
information and/or to register for the conference, visit:
https://redcloudfs.com/prepdac2024/
Visit the Skyharbour management team at the PDAC
2024 Investor Exchange Booth #2629 Sunday, March 3rd to Wednesday,
March 6th, from 10:00 am EST to 5:00 pm EST. President and CEO,
Jordan Trimble, will be presenting Tuesday, March 5th at 10:40 am
EST in Room 801A, to provide an overview and update for the
Company. For registration details, visit:
https://www.pdac.ca/convention
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 David Billard, 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 twenty-nine projects, ten of which are
drill-ready, covering over 587,000 hectares (over 1.45 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 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. Adjacent to the Moore Uranium Project is
Skyharbour’s recently optioned Russell Lake Uranium Project from
Rio Tinto, which hosts historical high-grade uranium drill
intercepts over a large property area with robust exploration
upside potential. The Company is actively advancing these projects
through exploration and drill programs.
Skyharbour has joint-ventures with
industry-leader Orano Canada Inc., Azincourt Energy and Valor
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; CSE-listed Medaro Mining Corp. at the Yurchison
Project; North Shore Uranium at the Falcon Project; and TSX-V
listed Tisdale Clean Energy at the South Falcon East Project which
is host to the Fraser Lakes Zone B Uranium and Thorium Deposit. In
aggregate, Skyharbour has now signed earn-in option agreements with
partners that total to over $33 million in partner-funded
exploration expenditures, over $27 million worth of shares being
issued and over $19 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_2024-02-14_V2.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
TrimblePresident and CEO
For further information contact myself or:Nicholas
ColturaInvestor Relations Manager Skyharbour Resources Ltd.
Telephone: 604-558-5847Toll Free: 800-567-8181Facsimile:
604-687-3119Email: info@skyharbourltd.com
NEITHER THE TSX VENTURE EXCHANGE NOR ITS
REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE
ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
The securities offered have not been, and will
not be, registered under the United States Securities Act of 1933,
as amended (the "U.S. Securities Act") or any U.S. state securities
laws, and may not be offered or sold in the United States or to, or
for the account or benefit of, United States persons absent
registration or an applicable exemption from the registration
requirements of the U.S. Securities Act and applicable U.S. state
securities laws. This press release does not constitute an offer to
sell or the solicitation of an offer to buy securities in the
United States, nor in any other jurisdiction.
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, including the Private
Placement. 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, regulatory
approvals, 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.
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