Ellis Martin: Skyharbour Resources Ltd  Secures Option to Acquire an Initial 51% and Up to 100% of the Russell Lake Uranium Project from Rio Tinto

Ellis Martin: Skyharbour Resources Ltd Secures Option to Acquire an Initial 51% and Up to 100% of the Russell Lake Uranium Project from Rio Tinto

Malibu, CA, United States (ABN Newswire) - Join Ellis Martin for a conversation with Jordan Trimble, the President and Chief Executive Officer of Skyharbour Resources (CVE:SYH)(OTCMKTS:SYHBF). SkyHarbour is a preeminent uranium and thorium exploration Company with projects located in the prolific Athabasca Basin of Saskatchewan, Canada. The Company has just secured an Option to Acquire an Initial 51% and up to 100% of the Russell Lake Uranium Project from Rio Tinto in the Athabasca. This brings the total land package of Skyharbour Resources in the Athabasca Basin up to over 450,000 hectares or 4,500 sq km consisting of a total of 15 properties with some of the most high grade uranium targets in the world.

Skyharbour Resources Ltd announced that it has entered into an Option Agreement with Rio Tinto Exploration Canada Inc. ("RTEC"), a wholly owned subsidiary of Rio Tinto Limited ("Rio Tinto"), to acquire up to 100% of the Russell Lake Uranium Project (the "Property" or "Project"), which comprises 26 claims covering 73,294 hectares of prospective exploration ground strategically situated between the Company's Moore Uranium project (to the east) and Denison Mines' Wheeler River project (to the west) in the eastern portion of the Athabasca Basin.

The Project is a premier, advanced-stage exploration property given its large size, proximity to critical regional infrastructure, and the significant amount of historical exploration carried out on the property, which has identified numerous prospective target areas and several high-grade uranium showings as well as drill hole intercepts. The Property is centrally located between Cameco Corp.'s Key Lake mill to the south and McArthur River mine to the north. Access to the Property is via Highway 914, which services the McArthur River Mine and runs through the western extent of Property along with a high-voltage powerline that energizes the existing mining operations in the eastern portion of the Athabasca Basin.

Jordan Trimble, President and CEO of Skyharbour Resources, stated:

"We are very pleased to have reached an agreement with Rio Tinto to acquire up to a 100% interest in Russell Lake. This is a significant transaction for Skyharbour and involves the acquisition of a premier exploration property adjacent to our Moore project. Uranium properties with the pedigree and prospectivity of Russell Lake are few and far between given the very strategic location, notable historical exploration and findings, as well as the numerous property-wide targets with the potential to generate new discoveries."

"Additionally, we welcome Rio Tinto as a new strategic shareholder and project partner. We have a shared vision for the exploration of the various prospective target areas that remain to be fully tested on the Property using modern exploration methods and techniques. We look forward to working with Rio Tinto to generate a new meaningful discovery in the years to come."

To listen to the interview, please visit:
https://www.abnnewswire.net/press/en/110468/syh

*To view the release, please visit:
https://abnnewswire.net/lnk/ZD2521SO



About Skyharbour Resources Ltd.:

Skyharbour Resources (CVE:SYH) (OTCMKTS:SYHBF) 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. In July 2016, Skyharbour acquired an option from Denison Mines, a large strategic shareholder of the Company, to acquire 100% of the Moore Uranium Project which is located approximately 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 project with high grade uranium mineralization at the Maverick Zone. Drill results have returned 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 signed option agreements with Orano Canada Inc. and Azincourt Energy whereby Orano and Azincourt can earn in up to 70% of specific segments of the Preston Project through a combined $9,800,000 in total exploration expenditures, as well as $1,700,000 in total cash payments and Azincourt shares. Preston is a large, geologically prospective property proximal to Fission Uranium's Triple R deposit as well as NexGen Energy's Arrow deposit. The Company also owns a 100% interest in the Falcon Point Uranium Project which 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. 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, where high-grade uranium mineralization has been identified. 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.



Source:
Skyharbour Resources Ltd.



Contact:
Riley Trimble
Corporate Communications and Development
T: +1-604-416-2978
F: +1-604-687-3119
E: info@skyharbourltd.com
W: www.skyharbourltd.com

News Provided by ABN Newswire via QuoteMedia

SYH:CA
Skyharbour Resources

Skyharbour Resources Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

The Conversation (0)
Skyharbour Resources (TSXV:SYH)

Skyharbour Resources


Keep reading...Show less

Pre-eminent uranium explorer and prospect generator in Canada’s Athabasca Basin

Skyharbour Expands Uranium Exploration Portfolio to Over 616,000 Hectares Across Thirty-Seven Projects in the Athabasca Basin, Northern Saskatchewan

Skyharbour Expands Uranium Exploration Portfolio to Over 616,000 Hectares Across Thirty-Seven Projects in the Athabasca Basin, Northern Saskatchewan

Skyharbour Resources Ltd . (TSX-V: SYH ) (OTCQX: SYHBF ) (Frankfurt: SC1P ) ("Skyharbour" or the "Company"), is pleased to announce that it has acquired, through inexpensive online staking, 21 new prospective uranium exploration claims in northern Saskatchewan. This strategic addition increases the Company's total land position to 616,939 hectares (1,524,489 acres) across 37 projects in which it holds an interest. The newly staked claims, which are 100% owned by Skyharbour, adds to the Company's existing portfolio of uranium projects within the Athabasca Basin, which is renowned for hosting the highest-grade uranium deposits globally and consistently ranked as a top-tier mining jurisdiction by the Fraser Institute.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Skyharbour Partner Company Terra Clean Energy Announces Immediate Follow-Up Summer Drill Program on the Back of Drill Results from Winter Program at South Falcon East Uranium Project

Skyharbour Partner Company Terra Clean Energy Announces Immediate Follow-Up Summer Drill Program on the Back of Drill Results from Winter Program at South Falcon East Uranium Project

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", previously Tisdale Clean Energy) announces results from its Winter 2025 drill program and provides an update on the upcoming summer drill program at the South Falcon East Uranium Project (the "Property"), which hosts the Fraser Lakes B Uranium Deposit. The Property lies 18 km outside the edge of the Athabasca Basin, approximately 50 km east of the Key Lake mill and former mine. Skyharbour optioned the Project to Terra, and under the Option Agreement, assuming the 75% interest is earned, Terra will fund exploration expenditures totaling CAD $10,500,000, as well as pay Skyharbour CAD $11,100,000 in cash, of which $6,500,000 can be settled for shares in the capital of Terra ("Shares") over the earn-in period.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Skyharbour's Partner Company UraEx Resources Commences Summer 2025 Drilling Program at South Dufferin Uranium Project, Athabasca Basin, Saskatchewan

Skyharbour's Partner Company UraEx Resources Commences Summer 2025 Drilling Program at South Dufferin Uranium Project, Athabasca Basin, Saskatchewan

Skyharbour Resources Ltd. (TSX-V: SYH ) (OTCQX: SYHBF ) (Frankfurt: SC1P ) ("Skyharbour" or the "Company") is pleased to announce that its earn-in option partner, UraEx Resources Inc. ("UraEx"), has commenced an inaugural 2,600-metre diamond drilling program at the South Dufferin Uranium Project ("South Dufferin" or the "Property") located immediately south of the southern margin of the Athabasca Basin, proximal to Cameco's Centennial deposit. UraEx can earn an initial 51% in the Property through CAD $4,600,000 in combined project consideration and up to 100% through $9,800,000 in combined project consideration consisting of cash and share payments as well as exploration expenditures over a five-year period.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Skyharbour's Partner Company Mustang Energy Receives Exploration Permit for 914W Uranium Project Located in the Athabasca Basin, Saskatchewan

Skyharbour's Partner Company Mustang Energy Receives Exploration Permit for 914W Uranium Project Located in the Athabasca Basin, Saskatchewan

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 received exploration permits from the Saskatchewan Government, allowing for ground-based exploration activities at the 914W Uranium Project ("the Project") south of the Athabasca Basin, Saskatchewan. 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/images/Sky_914W.jpg

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Skyharbour's JV Partner Orano Commences 6-7,000m Summer Drilling Program at the Preston Uranium Project

Skyharbour's JV Partner Orano Commences 6-7,000m Summer Drilling Program at the Preston Uranium Project

Skyharbour Resources Ltd. (TSX-V: SYH ) (OTCQX: SYHBF ) (Frankfurt: SC1P ) ("Skyharbour" or the "Company"), is pleased to announce that its joint-venture partner, Orano Canada Inc. ("Orano"), recently commenced a large-scale diamond drilling program at the 49,635-hectare Preston Uranium Project ("Preston" or the "Property") located in the western Athabasca Basin, Saskatchewan, Canada. The drilling program will consist of approximately 6,000 to 7,000 metres of drilling during the summer of 2025. Orano is the majority owner and operator at the project with Skyharbour owning a minority interest of approximately 25.6%.

Location Map of Preston Project:
https://www.skyharbourltd.com/_resources/images/Sky_Preston.jpg

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Skyharbour Resources

Skyharbour Resources Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

Latest Press Releases

Related News

×