Skyharbour Option Partner Azincourt Announces Upcoming Exploration Program at East Preston Uranium Property

Skyharbour Resources (TSX-V:SYH) (OTCQB:SYHBF) (Frankfurt: SC1P) (the “Company”) is pleased to announce the Company’s option partner Azincourt Uranium (TSX-V: AAZ) (“Azincourt”) has announced details for an upcoming exploration program at the East Preston Uranium Project. Their exploration program is slated to commence this summer / early fall with the purpose of locating new drill targets that were previously untested and refining other additional targets within the Swoosh corridor.
Skyharbour and Clean Commodities recently entered into Option Agreement (the “Agreement”) with Azincourt which provides Azincourt an earn-in option to acquire a 70% working interest in the East Preston Property (see news release dated March 28th, 2017). Under the Agreement, Azincourt has issued to Skyharbour and Clean Commodities each 2,250,000 common shares and will contribute cash and exploration expenditure consideration totaling up to CAD $3,500,000 in exchange for up to 70% of the applicable property area over three years.
Of the $3,500,000 in project consideration, $1,000,000 will be in cash payments to Skyharbour and Clean Commodities. The Preston Uranium Project is a strategic, district-scale property with robust exploration upside potential throughout and is located near recent high-grade discoveries in the Patterson Lake area including NexGen Energy’s Arrow deposit, Fission Uranium’s Triple R deposit, and the Spitfire discovery.
Skyharbour’s President and CEO, Jordan Trimble commented:

“Skyharbour continues to execute on its business model by adding value to its project base in the Athabasca Basin through focused mineral exploration at its flagship Moore Uranium Project, with final winter drill results expected shortly, as well as utilizing the prospect generator model to advance its other projects with strategic partners.”

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