Nuclear Fuels Inc. (CSE: NF) (OTCQX: NFUNF) ("Nuclear Fuels" or the "Company") is pleased to announce its participation at the upcoming New Orleans Investment Conference. Nuclear Fuels will give a corporate presentation at 6:00 pm CT on Friday, November 22nd at the Hilton New Orleans Riverside, in room Churchill B2, second floor.
About Nuclear Fuels Inc.
Nuclear Fuels Inc. is a uranium exploration company advancing early-stage, district-scale In-Situ Recovery ("ISR") amenable uranium projects towards production in the United States of America. Leveraging extensive proprietary historical databases and deep industry expertise, Nuclear Fuels is well-positioned in a sector poised for significant and sustained growth on the back of strong government support. Nuclear Fuels has consolidated the Kaycee Wyoming district under single-company control for the first time since the early 1980s. Currently executing its second drill program at the Kaycee Project, the Company aims to expand on historic resources across a 35-mile trend with over 430 miles of mapped roll-fronts. The Company's strategic relationship with enCore Energy Corp., America's Clean Energy Company™, offers a mutually beneficial "pathway to production," with enCore retaining the right to back- in to 51% ownership in the flagship Kaycee Project in Wyoming's prolific Powder River Basin.
About The New Orleans Investment Conference
The New Orleans Investment Conference is the one place where the world's most sophisticated investors gather every year to discover new opportunities and strategies, exchange ideas, plan for the coming year and enjoy the camaraderie of like-minded individuals in America's most fascinating and entertaining city.
For more information or to register for the 50th Annual New Orleans Investment Conference by clicking here.
For further information:
Gregory Huffman, Chief Executive Officer
P: 647-519-4447
E: info@nfuranium.com
W: www.nfuranium.com
The Canadian Securities Exchange has not reviewed this press release and does not accept responsibility for the adequacy or accuracy of this news release.
Certain information in this news release constitutes forward-looking statements under applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "expect", "potential", "believe", "intend" or the negative of these terms and similar expressions. Forward-looking statements in this news release include, but are not limited to, statements relating to planned exploration programs and the results of additional exploration work in seeking to establish mineral resources as defined in NI43-101 on any of our properties. Forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated with the completing planned exploration programs and the results of those programs; the ability to access additional capital to fund planned and future operations; regulatory risks including exploration permitting; risks associated with title to our mineral projects; the ability of the company to implement its business strategies; and other risks including risks contained in documents available for review at www.sedar.com under the Company's profile. Readers are cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/228942
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Skyharbour Resources Ltd. (TSX-V: SYH ) (OTCQX: SYHBF ) (Frankfurt: SC1P ) ("Skyharbour" or the "Company"), is pleased to announce that it has entered into an option agreement ("Agreement") with Mustang Energy Corp. (the "Optionee" or "Mustang"), whereby the Optionee may acquire a 75% interest in the Company's 914W Uranium Project (the "Property"). The Property consists of a total of one mineral claim covering approximately 1,260 hectares located in the Athabasca Basin, Northern Saskatchewan.
Terms of the Agreement:
Pursuant to the Agreement, Mustang may acquire a 75% interest in the Property by (i) issuing common shares in the capital of the Optionee ("Shares") having an aggregate value of CAD $480,000; (ii) making aggregate cash payments of CAD $275,000; and (iii) incurring an aggregate of CAD $800,000 in exploration expenditures on the Property over a three-year period, as follows:
| Date | Cash Payments | Exploration Expenditures | Value of Shares Issued |
| On Closing | $15,000 | N/A | $30,000 (1) |
| On or before the first anniversary of Closing | $20,000 | $100,000 | $100,000 (1) |
| On or before the second anniversary of Closing | $40,000 | $200,000 | $150,000 (1) |
| On or before the third anniversary of Closing | $200,000 | $500,000 | $200,000 (1) |
| TOTAL | $275,000 | $800,000 | $480,000 |
(1) Deemed pricing of Shares is based on the five (5) day volume weighted average price on the Canadian Securities Exchange for the 5 days prior to the time of the issuance (the "Deemed Price").
Skyharbour will retain an NSR royalty of two percent (2%) whereby Mustang shall have the right at any time to purchase one-half (1/2) of the NSR royalty from Skyharbour in consideration of the payment to Skyharbour of CAD $1,000,000, thereby leaving Skyharbour with a one percent (1%) NSR royalty.
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 host significant unconformity-related uranium mineralization further to the north in the Athabasca Basin as well as pegmatite-hosted uranium mineralization elsewhere in the Wollaston Domain.
914W Property Map:
https://skyharbourltd.com/_resources/projects/914W-image2.jpg
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 mapping, 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% U 3 O 8 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 sampling and lake sediment sampling 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.
ICP Securities Inc. Engaged for Automated Market Making Services:
The Company further announces the engagement of ICP Securities Inc. ("ICP") to provide automated market making services, including use of its proprietary algorithm, ICP Premium™, in compliance with the policies and guidelines of the TSX Venture Exchange and other applicable legislation. ICP will be paid a monthly fee of C$7,500, plus applicable taxes. The agreement between the Company and ICP was signed with a start date of November 11, 2024, and is for four (4) months (the "Initial Term") and shall be automatically renewed for subsequent one (1) month terms (each month called an "Additional Term") unless either party provides at least thirty (30) days written notice prior to the end of the Initial Term or an Additional Term, as applicable. There is no performance factors contained in the agreement and no stock options or other compensation in connection with the engagement. ICP and its clients may acquire an interest in the securities of the Company in the future and ICP is an arm's length party to the Company. ICP's market making activity will be primarily to correct temporary imbalances in the supply and demand of the Company's shares. ICP will be responsible for the costs it incurs in buying and selling the Company's shares, and no third party will be providing funds or securities for the market making activities.
About ICP Securities Inc.:
ICP Securities Inc. is a Toronto based CIRO dealer-member that specializes in automated market making and liquidity provision, as well as having a proprietary market making algorithm, ICP Premium™, that enhances liquidity and quote health. Established in 2023, with a focus on market structure, execution, and trading, ICP has leveraged its own proprietary technology to deliver high quality liquidity provision and execution services to a broad array of public issuers and institutional investors.
About Mustang Energy Corp.:
Mustang Energy is an exploration company focused on acquiring and developing high-potential uranium and critical mineral assets. The Company operates several exploration projects in Saskatchewan's Athabasca Basin, including the Ford Lake Project (7,743 hectares), Cigar Lake East and Roughrider South (combined 3,443 hectares), as well as recent acquisitions like the Yellowstone Project (21,820 hectares) and the Dutton Project (9,667 hectares). Mustang Energy remains committed to responsible exploration, with a focus on environmentally and socially sustainable operations, while contributing positively to local communities.
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 interest in twenty-nine projects, ten of which are drill-ready, covering over 580,000 hectares (over 1.4 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% U 3 O 8 over 5.9 metres, including 20.8% U 3 O 8 over 1.5 metres at a vertical depth of 265 metres. Adjacent to the Moore Project is the Russell Lake Uranium Project, in which Skyharbour is an operator with joint-venture partner Rio Tinto. The project hosts several 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 also has joint ventures with industry leader Orano Canada Inc., Azincourt Energy, and Thunderbird Resources (previously Valor) 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; 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; Mustang Energy at the 914W Project; and TSX-V listed Terra Clean Energy (previously Tisdale) at the South Falcon East Project which hosts the Fraser Lakes Zone B uranium and thorium deposit. In aggregate, Skyharbour has now signed earn-in option agreements with partners that total over $41 million in partner-funded exploration expenditures, over $30 million worth of shares being issued, and over $22 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 .
"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: 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.
Forward-Looking Information
This news release contains "forward‐looking information or statements" within the meaning of applicable securities laws, which may include, without limitation, completing ongoing and planned work on its projects including drilling and the expected timing of such work programs, other statements relating to the technical, financial and business prospects of the Company, its projects and other matters. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Although the Company 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 may differ materially from those in the forward-looking statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of uranium, the ability to achieve its goals, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms. Such forward-looking information reflects the Company's views with respect to future events and is subject to risks, uncertainties and assumptions, including the risks and uncertainties relating to the interpretation of exploration results, risks related to the inherent uncertainty of exploration and cost estimates and the potential for unexpected costs and expenses, and those filed under the Company's profile on SEDAR+ at www.sedarplus.ca. Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, adverse weather or climate conditions, failure to obtain or maintain all necessary government permits, approvals and authorizations, failure to obtain or maintain community acceptance (including First Nations), decrease in the price of uranium and other metals, increase in costs, litigation, and failure of counterparties to perform their contractual obligations. The Company does not undertake to update forward‐looking statements or forward‐looking information, except as required by law.
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Mustang Energy Corp. (CSE:MEC, OTC:MECPF, FRA:92T) (" Mustang " or the " Company ") is excited to announce that it has entered into a strategic option agreement (the " Agreement ") with Skyharbour Resources Ltd. (TSX-V: SYH) (" Skyharbour ") dated November 12, 2024 to acquire an undivided 75% interest (the " Option ") in Skyharbour's 914W Uranium Project (the " 914W Project "), located in the Athabasca Basin of Northern Saskatchewan. The Option marks an important step for Mustang as it seeks to expand its presence in a promising uranium district. Additionally, Mustang is pleased to welcome Jordan Trimble, President and CEO of Skyharbour, as a Strategic Advisor to the Company, bringing valuable industry insights and expertise to Mustang's growing portfolio.
"Being granted the Option to acquire a majority interest in the 914W Uranium Project is an exciting milestone for Mustang as we look to expand our footprint in and around the Athabasca Basin, a promising uranium district," commented Nick Luksha, CEO of Mustang. "With Jordan Trimble joining as a Strategic Advisor, we are gaining invaluable expertise that will strengthen our exploration efforts and help us unlock the potential of the 914W Project. This partnership aligns with our commitment to building a robust portfolio of high-impact assets while supporting sustainable development practices in the region."
"The 914W Project's accessible location, combined with promising geological indicators similar to those seen in the nearby uranium occurrences at Scurry Rainbow Zone E 1 and the Don Lake Trenches 2 , underscores the potential for discovery. With much of the 914W Project remaining underexplored, we see an opportunity to unlock further value through targeted exploration," said Lynde Guillaume, Technical Advisor for Mustang.
Jordan Trimble, President and CEO of Skyharbour stated "As Skyharbour becomes a shareholder and project partner alongside Mustang at the 914W Project under the Agreement, I am looking forward to working with the Mustang team to advance the asset over the coming years. We believe there is a strong discovery upside potential at the early-stage project, and we are optimistic that Mustang will be able to unlock value at the property."
About the 914W Uranium Project
The 914W Project is situated approximately 48 km southwest of Cameco's Key Lake Operation, offering excellent logistics and access via Highway 914. The 914W Project is strategically positioned within the Western Wollaston Domain, known for unconformity-related and pegmatite-hosted uranium (or " U ") mineralization.
The project host favorable geology with local graphite bearing assemblages. Immediately to the north of the 914W Project is the Scurry Rainbow Zone E 1 and the Don Lake Trenches 2 , where up to 1,288 ppm U was encountered in drill hole ML-1 1 , and surface prospecting revealed up to 0.64% U 3 O 8 in a trench at Don Lake Zone E 2 .
While historical exploration conducted several geophysical and geological surveys over portions of the property, most of the 914W Project remains underexplored. Mustang sees substantial potential for advancing uranium and rare earth element exploration on the 914W Project.
Figure 1: Mustang Energy Corp. Claim 914W Location Map 3 .
Bedrock Geology (Sask GeoAtlas): Mfn - felsic gneiss, Wcn - calc-silicate rock, marble, Wm - psammitic meta-arkosic gneiss, Wpsn - pelitic, psammopelitic gneiss, Wma - amphibolite (Archean), Wfn - felsic gneiss
Welcoming Jordan Trimble as Strategic Advisor
In conjunction with the Option, Mustang is thrilled to welcome Jordan Trimble, a respected leader in the uranium sector and the President and CEO of Skyharbour, as a Strategic Advisor to Mustang. Mr. Trimble brings years of industry experience, particularly in uranium exploration and development, which will be invaluable as Mustang expands its exploration activities in the Athabasca Basin. By background, Mr. Trimble is an entrepreneur and has worked in the resource industry in various roles with numerous companies specializing in management, corporate finance and strategy, shareholder communications, business development and capital raising. Previous to Skyharbour, he was the Corporate Development Manager for Bayfield Ventures Corp. (" Bayfield "), a gold company with projects in Ontario which was successfully acquired by New Gold Inc. in 2014. Bayfield made a high grade gold and silver discovery at its Burns Block property in the Rainy River district which is now a part of the producing Rainy River Mine. Skyharbour's strategic partners include Denison Mines Corp., Rio Tinto Limited & Orano Canada Inc.
Terms of the Agreement
Under the Agreement, Mustang can acquire a 75% interest in the 914W Uranium Project, which spans a total of 1,260 hectares, by satisfying the following conditions:
The cash payment, Share issuance and exploration expenditure schedules for the consideration noted above is as follows:
| Date | Cash Payments | Exploration Expenditures | Value of Shares Issued | |||
| On the dates the 6 th business day following the filing by Mustang of a Form 9 with the CSE (the " Closing Date ") | $15,000 | N/A | $30,000 (1) | |||
| On or before the first anniversary of Closing Date | $20,000 | $100,000 | $100,000 (1) | |||
| On or before the second anniversary of Closing Date | $40,000 | $150,000 | $150,000 (1) | |||
| On or before the third anniversary of Closing Date | $200,000 | $500,000 | $200,000 (1) | |||
| TOTAL: | $ 275,000 | $ 800,000 | $ 480,000 | |||
(1) Share values are based on the five-day volume-weighted average price on the Canadian Securities Exchange (" CSE ") prior to issuance.
Skyharbour will retain a 2% Net Smelter Return (" NSR ") royalty on the 914W Project, with Mustang holding an option to purchase back 1% for CAD$1,000,000, thereby reducing the NSR to 1%.
About Skyharbour Resources Ltd.
Skyharbour is a uranium exploration company with an extensive portfolio in the Athabasca Basin, including interests in numerous high-grade uranium projects and joint ventures with major industry partners such as Denison Mines Corp. and Rio Tinto Limited. Skyharbour's projects span over 580,000 hectares and are positioned to benefit from strengthening uranium market fundamentals.
References:
Qualifying Statement:
The scientific and technical information in this release has been reviewed and approved by Lynde Guillaume, P.Geo., Technical Advisor for Mustang Energy, and a registered member of the Professional Engineers and Geoscientists of Saskatchewan. Ms. Guillaume is a Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects .
Adjacent Property Disclaimer
This news release also includes references with respect to the Scurry Rainbow Zone E and the Don Lake Trenches deposits (collectively, the " Adjacent Properties "), which are located near the 914W Project in the Athabasca Basin. The Company advises that, notwithstanding their proximity of location, discoveries of minerals on the Adjacent Properties and any promising results thereof are not necessarily indicative of the mineralization of, or located on the 914W Project or the Company's ability to commercially exploit the 914W Project or to locate any commercially exploitable deposits therefrom.
All technical information contained in this press release with respect to Adjacent Properties, was provided by the sources noted in the references above without independent review and investigation by the Company, and the Company has relied on the information contained in the respective sources exclusively in providing the information about the Adjacent Properties and any deposits therefrom. The Company cautions investors on relying on this information as the Company has not confirmed the accuracy or reliability of the information.
About Mustang Energy Corp.
Mustang is a resource exploration company focused on acquiring and developing high-potential uranium and critical mineral assets. The Company is actively exploring its properties in the Athabasca Basin of Saskatchewan, Canada. Mustang's flagship property, Ford Lake, covers 7,743 hectares in the prolific eastern Athabasca Basin, while its Cigar Lake East and Roughrider South projects span 2,901 hectares in the Wollaston Domain. Mustang has also established its footprint in the Cluff Lake region of the Athabasca Basin with the acquisition of the Yellowstone Project and further expanded its presence in the south central region of the Athabasca Basin with the Dutton Project.
On behalf of the board of directors,
" Nicholas Luksha "
Nicholas Luksha
CEO and Director
For further information, please contact:
Mustang Energy Corp.
Attention: Nicholas Luksha, CEO and Director
Phone: (604) 838-0184
Forward-Looking Statements Disclaimer
This news release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends", "believes" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". This information and these statements, referred to herein as "forward‐looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management's expectations and intentions with respect to, among other things: the exercise of the Option by the Company, the expected benefits of the various transactions contemplated herein and the future potential of the minerals claims acquired pursuant to the Agreement as contemplated herein. In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation the assumption that the Company will be able: to exercise the Option and, in connection therewith, received all required third party approvals, to receive expected benefits and achieve anticipated integration post-transaction and continue exploring the various projects and surrounding minerals claims optioned to the Company pursuant to the transactions contemplated herein. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws.
Neither the CSE nor the Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b11eb21a-9912-4232-b452-1448c920ff79
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Skyharbour Resources Ltd. (TSX-V: SYH ) (OTCQX: SYHBF ) (Frankfurt: SC1P ) (the "Company") is pleased to announce the commencement of its fall diamond drilling program at the 73,294 hectare Russell Lake Uranium Project ("Russell" or the "Project"). The Project is 51% owned by Skyharbour as operator with joint-venture partner Rio Tinto Exploration Canada Inc. ("RTEC") owning the other 49%. It is strategically located in the central core of the Eastern Athabasca Basin of northern Saskatchewan with access to regional infrastructure including an all-weather road and powerline. Skyharbour is planning a 4,500-metre diamond drilling program in seven to nine holes at the project, building on the successful results from the drilling campaign completed earlier this year. The Company's geologists, along with a contracted drilling crew, are based at Skyharbour's exploration camp on the McArthur River-Key Lake haul road, situated within five kilometres of Denison Mines' Phoenix deposit at the Wheeler River Project.
Russell Lake Project Location Map:
http://www.skyharbourltd.com/_resources/images/SKY-RussellLake-20220325-Inset.jpg
Fall Diamond Drilling Program at Russell Lake:
Skyharbour plans to complete approximately 4,500 metres of drilling at Russell to follow up on notable previous exploration and findings and to test new targets developed by the geological team . The drilling program will be focused on the road-accessible Fork target within the broader Grayling target area as well as the M-Zone Extension ("MZE") target. All-in drilling costs are lower given the nearby infrastructure including the mine and mill haul road as well as Skyharbour's exploration camp at the project. A total of 4,500 metres in seven to nine holes is planned with five to six holes planned on the Fork target and two to three holes planned on the MZE target.
Russell Lake Project Target Areas:
https://www.skyharbourltd.com/_resources/images/20240110-MainTargetsRussellLake2024.jpg
The Fork target is a newly identified target to the west of the Grayling Zone and on-strike with Denison's M-Zone at their adjacent Wheeler River Project. Earlier this year, the best intercept of uranium mineralization historically on the Russell Lake Project was discovered in hole RSL24-02, which returned a 2.5 metre wide intercept of 0.721% U 3 O 8 at a relatively shallow depth of 338.1 metres, including 2.99% U 3 O 8 over 0.5 metres just above the unconformity in the sandstone (see news release dated July 19 th , 2024, titled: "Skyharbour Drills New Discovery at Russell Project with High-Grade Uranium Mineralization Up to 3.0% U 3 O 8 at Newly Identified Fork Zone"). This high-grade intercept is a new discovery at the recently identified Fork Target which has very limited historical exploration due to a lack of reliable geophysical data and drill targets resulting from nearby powerline interference. The mineralization is open in most directions including along strike, and will be a focus for this drill program.
Fork and Grayling Drill Targets:
https://www.skyharbourltd.com/_resources/images/20240110-ForkGraylingEastTargetsRussellLake.jpg
Skyharbour has also refined additional drill targets in the M-Zone Extension area, along trend from the Grayling Zone and Denison's M-Zone, where historical drilling intersected basement-hosted uranium. More recent drilling by Denison in 2020 at the M-Zone encountered uranium mineralization with significant faulting, core loss, geochemical anomalies, and radioactivity encountered in other drill holes. Like the Grayling Zone, the mineralization is hosted by a graphitic thrust fault within a significant magnetic low. It is also noted that cross structures associated with Denison's Phoenix and Gryphon uranium deposits potentially trend onto the Russell Lake property within the M-Zone Extension target area, further enhancing the prospectivity of this target.
M-Zone Extension Drill Targets:
https://www.skyharbourltd.com/_resources/images/20240110-M-ZoneExtensionTargetsRussellLake.jpg
Russell Lake Project Historical Summary:
The Russell Lake Project is a large, advanced-stage uranium exploration property totalling 73,294 hectares strategically located between Cameco's Key Lake and McArthur River Projects and adjoining Denison's Wheeler River Project to the west and Skyharbour's Moore Uranium Project to the east. The northern extension of Highway 914 between Key Lake and McArthur River runs through the western extent of the Property and greatly enhances accessibility, while a high-voltage powerline is situated alongside this road and the western edge of the property south of Key Lake. Skyharbour's acquisition of Russell Lake creates a large, nearly contiguous block of highly prospective uranium claims totalling 108,999 hectares between the Russell Lake and the Moore uranium projects.
There has been historical exploration carried out at Russell Lake. However, most of it was conducted before 2010, prior to the discovery of several major deposits in and around the Athabasca Basin. In 2023, Skyharbour's inaugural diamond drilling program tested several Fox Lake Trail targets and the Grayling Zone. Significant uranium mineralization was intersected in the majority of holes at the Grayling Zone over a strike length exceeding one kilometre. More recently, Skyharbour completed 5,152 metres of drilling in a 2024 winter/spring drill program making a new discovery at the newly identified Fork Target area. Hole RSL24-02 marks the best intercept of uranium mineralization historically at the project, returning a 2.5 metre wide intercept of 0.721% U 3 O 8 at a relatively shallow depth of 338.1 metres, including 2.99% U 3 O 8 over 0.5 metres at 339.6 metres just above the unconformity in the sandstone.
2024 Fork Target Drill Hole Location Map:
Several notable exploration targets exist on the property including the Grayling Zone, the M-Zone Extension target, the Little Man Lake target, the Christie Lake target, the Fox Lake Trail target and the newly identified Fork Zone target. More than 35 kilometres of largely untested prospective conductors in areas of low magnetic intensity also exist on the Property.
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. Mr. Billard has verified the data disclosed, which includes a review of the sampling, analytical and test data underlying the information and opinions contained herein.
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 twenty-nine projects, ten of which are drill-ready, covering over 580,000 hectares (over 1.4 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% U 3 O 8 over 5.9 metres, including 20.8% U 3 O 8 over 1.5 metres at a vertical depth of 265 metres (see news release dated February 27 th , 2017, titled: "Skyharbour Intersects 20.8% U 3 O 8 over 1.5 Metres in First Drill Hole at Maverick Zone and Discovers New High-Grade Uranium Lens on Moore Lake Uranium Project"). Adjacent to the Moore Project is the Russell Lake Uranium Project, in which Skyharbour is an operator with joint-venture partner RTEC. The project hosts several 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 also has joint ventures with industry leader Orano Canada Inc., Azincourt Energy, and Thunderbird Resources (previously Valor) 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; 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 and TSX-V listed Terra Clean Energy (previously Tisdale) at the South Falcon East Project which hosts the Fraser Lakes Zone B uranium and thorium deposit. In aggregate, Skyharbour has now signed earn-in option agreements with partners that total over $40 million in partner-funded exploration expenditures, over $30 million worth of shares being issued, and over $22 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 .
"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: 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.
Forward-Looking Information
This news release contains "forward‐looking information or statements" within the meaning of applicable securities laws, which may include, without limitation, completing ongoing and planned work on its projects including drilling and the expected timing of such work programs, other statements relating to the technical, financial and business prospects of the Company, its projects and other matters. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Although the Company 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 may differ materially from those in the forward-looking statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of uranium, the ability to achieve its goals, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms. Such forward-looking information reflects the Company's views with respect to future events and is subject to risks, uncertainties and assumptions, including the risks and uncertainties relating to the interpretation of exploration results, risks related to the inherent uncertainty of exploration and cost estimates and the potential for unexpected costs and expenses, and those filed under the Company's profile on SEDAR+ at www.sedarplus.ca. Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, adverse weather or climate conditions, failure to obtain or maintain all necessary government permits, approvals and authorizations, failure to obtain or maintain community acceptance (including First Nations), decrease in the price of uranium and other metals, increase in costs, litigation, and failure of counterparties to perform their contractual obligations. The Company does not undertake to update forward‐looking statements or forward‐looking information, except as required by law.
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Nuclear Fuels Inc. (CSE:NF | OTCQX:NFUNF) ("Nuclear Fuels" or the "Company") is pleased to announce a non-brokered private placement of 9,837,500 units (the "Units") for gross proceeds of $3,935,000 (the "Offering"). Each Unit will consist of one common share (a "Share') of the Company and one-half of one common share purchase warrant (a "Warrant"). Each whole Warrant will entitle the holder to acquire one common share (a "Warrant Share") for a period of 36 months from the closing of the Offering at a price of $0.55 per Warrant Share. The private placement is an add-on to the recently announced bought deal financing ( NF News Release October 30, 2024 ).
enCore Energy Corp. (NASDAQ: EU) (TSXV: EU), Nuclear Fuels' largest shareholder, will purchase 5,200,000 Units for gross proceed of $2,080,000 . Upon closing, enCore Energy Corp., will hold and control 16,690,543 Shares representing 17.1% of the outstanding shares and 3,458,103 Warrants representing 19.88% of the outstanding shares on a partially diluted basis, an increase from 19.33% currently.
PowerOne Capital Markets Limited acted as a finder in connection with a portion of the Offering.
The net proceeds received from the Offering will be used to advance the Company's uranium projects in the United States , as well as for working capital and general corporate purposes.
It is anticipated that closing of the Offering will occur on or about November 20, 2024 or such other date or dates as the Company and PowerOne may agree. The Offering is subject to the satisfaction of certain conditions, including receipt of all applicable regulatory approvals including the approval of the Canadian Securities Exchange. The securities to be issued under the Offering will have a hold period of four months and one day from the applicable closing date in accordance with applicable securities laws.
This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America . The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "1933 Act") or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.
About Nuclear Fuels Inc.
Nuclear Fuels Inc. is a uranium exploration company advancing early-stage, district-scale In-Situ Recovery ("ISR") amenable uranium projects towards production in the United States of America . Leveraging extensive proprietary historical databases and deep industry expertise, Nuclear Fuels is well-positioned in a sector poised for significant and sustained growth on the back of strong government support. Nuclear Fuels has consolidated the Kaycee Wyoming district under single-company control for the first time since the early 1980s. Currently executing its second drill program at the Kaycee Project, the Company aims to expand on historic resources across a 35-mile trend with over 430 miles of mapped roll-fronts. The Company's strategic relationship with enCore Energy Corp., America's Clean Energy Company™, offers a mutually beneficial "pathway to production," with enCore retaining the right to back- in to 51% ownership in the flagship Kaycee Project in Wyoming's prolific Powder River Basin.
Forward-Looking Information
The Canadian Securities Exchange has not reviewed this press release and does not accept responsibility for the adequacy or accuracy of this news release.
Certain information in this news release constitutes forward-looking statements under applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "expect", "potential", "believe", "intend" or the negative of these terms and similar expressions. Forward-looking statements in this news release include, but are not limited to, statements relating to planned exploration programs and the results of additional exploration work in seeking to establish mineral resources as defined in NI 43-101 on any of our properties. Forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated with the completing planned exploration programs and the results of those programs; the ability to access additional capital to fund planned and future operations; regulatory risks including exploration permitting; risks associated with title to our mineral projects; the ability of the company to implement its business strategies; and other risks including risks contained in documents available for review at www.sedar.com under the Company's profile. Readers are cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
SOURCE Nuclear Fuels Inc.
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Skyharbour Resources Ltd. (TSX-V: SYH ) (OTCQX: SYHBF ) (Frankfurt: SC1P ) ("Skyharbour" or the "Company"), is pleased to announce that it has entered into agreements with a private arm's-length company, Hatchet Uranium Corp. (the "Hatchet"), whereby Hatchet may acquire an 80% interest in the Company's 9,339 ha Highway Uranium Property (the "Optioned Property") and a 100% interest, subject to a claw-back provision for Skyharbour, in the Company's Genie, Usam and CBXShoe Uranium Projects (the "Purchased Property") totalling 66,358 ha, all located in the Athabasca Basin, Northern Saskatchewan, Canada.
Highway, Genie, Usam, CBX and Shoe Project Map:
https://www.skyharbourltd.com/_resources/images/Hatchet-Property-Option.jpg
Jordan Trimble, President and CEO of Skyharbour, commented "We are excited to enter into this partnership with Hatchet Uranium Corp. as they advance and fund these exploration properties going forward. We are confident in the capable team behind Hatchet as they have plenty of experience in the Athabasca Basin and we look forward to them unlocking value at these projects. We continue to execute on our strategy by adding value to our uranium project base in the Athabasca Basin through strategic partnerships and prospect generation, as well as focused exploration at our co-flagship Russell and Moore Projects."
Terms of the Optioned Property:
The Optioned Property, Highway, consists of four (4) mineral claims comprising approximately 9,339 hectares. Hatchet may acquire an 80% interest in the Optioned Property by (i) issuing common shares in the capital of Hatchet ("Shares") having an aggregate value of CAD $1,050,000; (ii) making aggregate cash payments of CAD $245,000; and (iii) incurring an aggregate of CAD $2,050,000 in exploration expenditures on the Optioned Property over a three-year period, as follows:
| Date | Cash Payments | Exploration Expenditures | Value of Shares Issued |
| On or before the first anniversary of Closing | $25,000 | $250,000 | $25,000 (1) |
| On or before the second anniversary of Closing | $20,000 | $300,000 | $25,000 (1) |
| On or before the third anniversary of Closing | $200,000 | $1,500,000 | $1,000,000 (1) |
| TOTAL | $245,000 | $2,050,000 | $1,050,000 |
(1) Deemed pricing of Shares is based on the twenty (20) day volume weighted average price on the stock exchange in which Hatchet shall list its Shares for trading, being either the TSX Venture Exchange or the Canadian Securities Exchange ("Deemed Price") or the last sale price, if not listed on a stock exchange at the time of issuance
In the event that the issuance of any Shares pursuant to the above would result in the Company holding 10% or more of the outstanding Shares of Hatchet, Hatchet will issue that number of Shares which would result in the Company receiving 9.9% of the issued and outstanding Shares post-issuance and will pay cash in lieu of the Shares for the difference.
The obligations of Hatchet under the option agreement are subject to the following conditions (i) Hatchet completing a financing for minimum gross proceeds of $1,500,000, (ii) the sale of the of the Genie, Usam and CBX/Shoe Uranium Projects to Hatchet, and (iii) Hatchet having listed the Hatchet Shares on the TSX Venture Exchange or the Canadian Securities Exchange or having sold its interest to or combined with a similarly listed issuer.
The Company shall retain a 2% net smelter returns royalty from minerals mined and removed from the Optioned Property, of which Hatchet may purchase one-half, being 1%, at any time for $1,000,000.
Terms of the Purchased Property:
The Purchased Property consists of twenty-five (25) mineral claims comprising approximately 66,358 hectares across the Genie, Usam and CBX/Show projects. Hatchet may acquire a 100% interest in the Purchased Property by, on the date of closing (the "Closing Date"), paying the Company $25,000 and issuing to the Company such number of units in the capital of Hatchet ("Hatchet Units") equal to 9.9% of the issued and outstanding Shares immediately following issuance. Each Hatchet Unit shall be comprised of one Share and one share purchase warrant, entitling Skyharbour to purchase one additional Share for a period of three years at a price that is a 25% premium to the deemed value of the Shares in both years 1 and 2, and then increases to a 50% premium to the issuance value of the Shares in year 3.
The Company shall retain a claw-back provision whereby, within 90 days after the 3 rd anniversary of the Closing Date, the Company may elect by written notice to Hatchet of its intention to purchase back a twenty-five percent (25%) interest in the Purchased Property by, within 90 days of delivery of such notice, incurring exploration expenditures or paying cash in lieu of to fund future exploration, equivalent to fifty percent (50%) of the total amount that Hatchet had spent during the term that is three years from the Closing Date in exploration expenditures on the Purchased Property. If Hatchet has not incurred any exploration expenditures during the three years following the closing date, then Skyharbour shall automatically receive the 25% interest in the Property.
The obligation of Hatchet to acquire the Purchased Property is subject to the following conditions (i) Hatchet completing a financing for minimum gross proceeds of $1,500,000, (ii) the closing of the Option of the Highway Uranium Property from Skyharbour to Hatchet, and (iii) Hatchet having listed the Hatchet Shares on the TSX Venture Exchange or the Canadian Securities Exchange or having sold its interest to or combined with a similarly listed issuer. If the conditions listed in items (i) and (iii) above are not completed within 18 months, Hatchet's right to acquire the Purchased Property will terminate. If, after 12 months, the conditions listed in items (i) and (iii) above are not satisfied, Hatchet shall pay Skyharbour a monthly fee of $10,000 until such conditions are satisfied or an aggregate of $60,000 has been paid, whichever occurs first.
The Company shall also retain a 2% net smelter returns royalty from minerals mined and removed from the Purchased Property, of which Hatchet may purchase one-half, being 1%, at any time for $2,000,000.
Highway Property Summary:
The Highway Uranium Project consists of four claims covering 9,339 hectares, approximately 41 km south of the Rabbit Lake Mine and 11 km southwest of Uranium Energy Corp.'s (UEC, formerly UEX) West Bear U and Co-Ni Deposits. Highway 905 runs through the property, providing excellent access for exploration and the project is in close proximity to regional infrastructure. There has been limited modern exploration carried out on the project but there is the potential for high-grade basement-hosted and unconformity-related uranium mineralization.
Highway Property Map:
https://www.skyharbourltd.com/_resources/images/Location-Map-Highway-Property.jpg
The project is underlain by Wollaston Supergroup metasedimentary gneisses (pelitic to psammopelitic and psammitic to meta-arkosic) folded around and overlying an Archean felsic gneiss dome which outcrops in the southwestern portion of the property and cores a northeast trending antiformal fold nose. The Highway Project is located approximately 7 km east of the present-day margin of the Athabasca Basin but is believed to have been covered by Athabasca sandstone in the past.
Genie Property Summary:
The Genie property consists of five claims totalling 16,930 ha, and is located approximately 48 km northeast of Cameco's Eagle Point Uranium Mine (Rabbit Lake Operation) and 40 km north of Wollaston Lake Post. The project is underlain by Wollaston Superground metasedimentary gneisses and Archean granitoids, with highly prospective pelitic to psammopelitic gneisses (including graphitic varieties) and several north-trending faults related to the Tabbernor fault system being mapped on the property. The project lies outside the current extent of the Athabasca Basin, but is believed to have been overlain by now-eroded Athabasca sandstones in the past and has the potential for high-grade basement-hosted and unconformity-related uranium mineralization. The property is underlain by a series of linear magnetic highs (interpreted as granitoids) and magnetic lows (interpreted as metasedimentary gneisses), cross-cut by a highly magnetic northwest-trending Mackenzie Diabase dyke.
Genie Property Map:
https://www.skyharbourltd.com/_resources/images/Location-Map-Genie-Property.jpg
Previous work on the Genie project includes limited diamond drilling (three historical drill holes, of which one was abandoned in overburden) and a variety of airborne and ground geophysical surveys, prospecting, geological mapping, lake sediment and overburden sampling, and soil sampling. Most of this exploration work took place between 1966 to 1980, prior to the advent of modern geophysical methods and geological models, but in 2014 part of the Genie property was covered by a helicopter-borne DIGHEM magnetic, electromagnetic, and radiometric survey. The survey showed a strong central EM conductor following a magnetically inferred contact on the two northeastern most claims, which is locally disrupted by several moderately conductive N-S trending structural breaks, inferred to be faults. This strong conductor is highly prospective for uranium mineralization, and drilling done in 1969 and 1971 has confirmed the presence of graphitic and sulfide-containing pelitic gneisses on the property. Lake sediment samples also collected at Genie during the 2014 exploration program, contained up to 63.3 ppm U, further showcasing the prospectivity of the property.
Usam Property Summary:
The Usam Project consists of twelve claims totalling 40,041 ha and is located approximately 16 km northeast of Cameco's Eagle Point Mine (Rabbit Lake Operation). The project has numerous EM conductors that are associated with significant magnetic lows of the Wollaston Domain. While the project is outside the current confines of the Athabasca Basin, the area was overlain by Athabasca sandstones historically. Basement rocks on the property include Wollaston Supergroup metasediments and Archean granitoid gneisses, with highly prospective pelitic to psammopelitic gneisses (including graphitic varieties) making up the largest proportion of the basement rocks. Several north-trending faults related to the Tabbernor fault system cross-cut the property.
Usam Property Map:
https://www.skyharbourltd.com/_resources/images/Location-Map-Usam-Property.jpg
Previous work on the project includes diamond drilling (12 holes), lake sediment sampling, soil sampling, geological mapping, ground and airborne geophysics, marine seismic, prospecting, and other geochemical sampling, the majority of which was done in the 1980's and 1970's. Modern exploration of the property has been limited to geophysics and ground prospecting. As such there is a significant untested potential on the project. Trenching on Cleveland Island uncovered up to 0.31% U 3 O 8 in mineralized pegmatite, and diamond drilling on Gilles Island intersected anomalous uranium, indicating that the basement rocks underling the Usam property are fertile sources of uranium in addition to containing pegmatite- and granite-hosted U-Th-REE mineralization. There are also several sedimentary-hosted base metals (i.e. Cu and Zn) showings on the project and in the surrounding area, which show similarities to the sedimentary-hosted Cu mineralization previously discovered by Rio Tinto and its partners at the Janice Lake Project further southwest in the Wollaston Domain.
CBX/Shoe Property Summary:
The CBX property has been recently expanded through staking to include five additional claims adjoining the previously staked CBX and Shoe properties, which have been combined to include a total of seven claims covering 8,777 hectares. The 609 ha Shoe property has remained unchanged, with both CBX and Shoe now consisting of eight non-contiguous claims totalling 9,386 hectares.
CBX/Shoe Property Map:
https://www.skyharbourltd.com/_resources/images/Location-Map-CBX-Shoe-Properties.jpg
The new claims lie approximately 6.5 km to 25 km northeast of the Eagle Point uranium mine and cover the northern shore of Wollaston Lake including parts of Cunning Bay. Outcrop exposure on the property is poor, but historical mapping and drilling shows that the newly expanded CBX project is underlain by a mixture of Wollaston Supergroup metasedimentary gneisses, Hudsonian intrusives, and Archean felsic gneisses of the Western Wollaston Domain. Similar lithologies host uranium mineralization at the Rabbit Lake operation, including the Eagle Point deposit, and other uranium deposits in the Athabasca Basin and surrounding regions. The CBX and Shoe properties have had historical exploration, including airborne and ground geophysical surveys, lake sediment, soil, and spruce geochemical surveys, till sampling, prospecting, geological mapping, and a marine seismic survey, but the majority of this work took place in the 1960's to 1980's, with limited modern exploration work being carried out on a small portion of the CBX and Shoe properties.
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. Mr. Billard has verified the data disclosed, which includes a review of the sampling, analytical and test data underlying the information and opinions contained herein.
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 twenty-nine projects, ten of which are drill-ready, covering over 580,000 hectares (over 1.4 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% U 3 O 8 over 5.9 metres, including 20.8% U 3 O 8 over 1.5 metres at a vertical depth of 265 metres (see news release dated February 27 th , 2017, titled: "Skyharbour Intersects 20.8% U 3 O 8 over 1.5 Metres in First Drill Hole at Maverick Zone and Discovers New High-Grade Uranium Lens on Moore Lake Uranium Project"). Adjacent to the Moore Project is the Russell Lake Uranium Project, in which Skyharbour is an operator with joint-venture partner RTEC. The project hosts several 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 also has joint ventures with industry leader Orano Canada Inc., Azincourt Energy, and Thunderbird Resources (previously Valor) 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; 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 and TSX-V listed Terra Clean Energy (previously Tisdale) at the South Falcon East Project which hosts the Fraser Lakes Zone B uranium and thorium deposit. In aggregate, Skyharbour has now signed earn-in option agreements with partners that total over $40 million in partner-funded exploration expenditures, over $30 million worth of shares being issued, and over $22 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 .
"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: 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.
Forward-Looking Information
This news release contains "forward‐looking information or statements" within the meaning of applicable securities laws, which may include, without limitation, completing ongoing and planned work on its projects including drilling and the expected timing of such work programs, other statements relating to the technical, financial and business prospects of the Company, its projects and other matters. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Although the Company 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 may differ materially from those in the forward-looking statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of uranium, the ability to achieve its goals, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms. Such forward-looking information reflects the Company's views with respect to future events and is subject to risks, uncertainties and assumptions, including the risks and uncertainties relating to the interpretation of exploration results, risks related to the inherent uncertainty of exploration and cost estimates and the potential for unexpected costs and expenses, and those filed under the Company's profile on SEDAR+ at www.sedarplus.ca. Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, adverse weather or climate conditions, failure to obtain or maintain all necessary government permits, approvals and authorizations, failure to obtain or maintain community acceptance (including First Nations), decrease in the price of uranium and other metals, increase in costs, litigation, and failure of counterparties to perform their contractual obligations. The Company does not undertake to update forward‐looking statements or forward‐looking information, except as required by law.
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