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Skyharbour Resources Ltd. (TSX-V: SYH ) (OTCQB: SYHBF ) (Frankfurt: SC1P ) (the "Company") announces with deep sorrow that Co-Founder and Director, Richard ("Rick") Kusmirski, P.Geo., M.Sc., recently passed away, at the age of 68 after a lengthy illness.
Skyharbour wishes to extend our sincere condolences to Rick's family, friends, and business associates. Rick was an accomplished exploration geologist with more than four decades of experience throughout the world but primarily focused in North America, specifically the Athabasca Basin. He has been an active member of the Saskatchewan mineral exploration and mining community for many years and will be dearly missed. Rick was one of the founding supporters and head technical advisor for Skyharbour and has guided the development of the company to where it is today. He has assembled an energetic and accomplished geological team with expertise focused in Athabasca Basin uranium exploration and this team will continue to advance the Company's project base as well as work with our partner companies who are operating some of our other uranium projects in the Basin.
Rick actively participated in the discovery of a number of uranium, gold and base metal deposits, and for several years, in his capacity as Exploration Manager, he directed Cameco Corporation's uranium exploration projects in the Athabasca Basin. In 1999, Rick joined JNR Resources becoming Vice President of Exploration in 2000. Subsequently, he directed the exploration program that led to the discovery of the Maverick Zone on the Moore Lake uranium project with then-partner Kennecott Canada. Rick later became JNR's President and CEO in January of 2001, and continued leading the company until February of 2013, JNR was acquired by Denison Mines Corp. by way of a friendly all-share take-over bid. Rick also served as the industry Chair and Director of the Exploration Section of the Saskatchewan Mining Association for many years and was a director of Rockridge Resources Ltd., Bessor Minerals Inc. and several other publicly traded companies.
Jordan Trimble, President and CEO of Skyharbour, stated: "On behalf of our Board of Directors, management team and employees, we extend our deepest sympathies to Rick's family and friends. We are all incredibly saddened by this sudden loss and Rick will be sorely missed. He was very well respected in the mining community and was integral in building Skyharbour's asset base and geological team. I have known and worked with Rick for almost nine years, and I consider him a dear friend, colleague and mentor. Rick was a passionate, hard-working and very knowledgeable exploration geologist that was laser-focused on creating shareholder value. We have made great progress growing Skyharbour over the years and the team and I will continue to do so as we honour him and his unrelenting commitment to exploration success."
David Billard, Consulting Geologist for Skyharbour, stated: "Rick has been a good friend, mentor and colleague for over 35 years, and I've had the pleasure of working directly with him for much of that time. He was always a source of good advice and it has been a successful collaboration throughout that time. From our early discovery of the Jasper gold deposit, which we saw through to production, to the discovery of the Maverick Zone with JNR and the later advancement of Skyharbour into a significant Athabasca Basin explorer, it has been a long and fruitful relationship. Throughout those years I have not been the only beneficiary of his wisdom and knowledge; Rick touched many people's lives and will be missed sorely by all."
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 eight drill-ready projects covering over 250,000 hectares 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. The Company is actively advancing the project through drill programs.
Skyharbour has a joint-venture with industry-leader Orano Canada Inc. at the Preston Project whereby Orano has earned a 51% interest in the project through exploration expenditures and cash payments. Skyharbour now owns a 24.5% interest in the Project. Skyharbour also has a joint-venture with Azincourt Energy at the East Preston Project whereby Azincourt has earned a 70% interest in the project through exploration expenditures, cash payments and share issuance. Skyharbour now owns a 15% interest in the Project. Preston and East Preston are large, geologically prospective properties proximal to Fission Uranium's Triple R deposit as well as NexGen Energy's Arrow deposit. Furthermore, 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 totalling 7.0 million pounds of U 3 O 8 at 0.03% and 5.3 million pounds of ThO 2 at 0.023%.
Skyharbour also has several active option partners including: ASX-listed Valor Resources on the Hook Lake Uranium Project whereby Valor can earn in 80% of the project through CAD $3,500,000 in exploration expenditures, $475,000 in cash payments over three years and an initial share issuance; CSE-listed Basin Uranium Corp. on the Mann Lake Uranium Project whereby Basin Uranium can earn-in 75% of the project through $4,000,000 in exploration expenditures, $850,000 in cash payments as well as share issuances over three years; and CSE-listed Medaro Mining Corp. on the Yurchison Project whereby Medaro can earn-in an initial 70% of the project through $5,000,000 in exploration expenditures, $800,000 in cash payments as well as share issuances over three years followed by the option to acquire the remaining 30% of the project through a payment of $7,500,000 in cash and $7,500,000 worth of shares.
Skyharbour's Uranium Project Map in the Athabasca Basin:
https://skyharbourltd.com/_resources/maps/SYH-Athabasca-Map.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:
Riley Trimble
Corporate Development and Communications
Skyharbour Resources Ltd.
Telephone: 604-687-3376
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.
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 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, 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.
