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Skyharbour Resources Ltd. (TSX-V: SYH) (OTCQX: SYHBF) (Frankfurt: SC1P) ("Skyharbour" or the "Company") is pleased to announce that partner company Purecore Metals ("Purecore") has commenced a comprehensive data compilation and technical review program at the Yurchison Uranium Property ("Yurchison" or the "Property") in the Athabasca Basin, northern Saskatchewan. The program is intended to consolidate historical and modern geological, geochemical, geophysical and exploration information into an integrated project database and geological framework. The resulting dataset will be used to refine areas of interest, identify where multiple layers of technical evidence converge and prioritize targets for potential future field exploration.
Yurchison Property Map:
https://skyharbourltd.com/_resources/images/SkyHarbour_Yurchison.jpg?v2
Yurchison consists of 22 claims covering approximately 35,029 hectares of mineral tenure located in the Wollaston Domain of Northern Saskatchewan, Canada. Purecore may acquire an initial 70% interest in and to the Property, subject to a 2.0% net smelter return royalty retained by Skyharbour, by making cash payments to Skyharbour totalling C$350,000, issuing common shares of Purecore having an aggregate value of C$700,000, and incurring a minimum of C$3,500,000 in exploration expenditures on the Property. Purecore may earn an additional 30% interest in the Property, for a total 100% interest and subject to the NSR Royalty, by making an additional cash payment to Skyharbour of $3,000,000 and issuing additional common shares having a value of $3,000,000 for combined project consideration of $10,550,000.
Data Compilation and Target Generation:
Yurchison has been subject to historical airborne and ground geophysical surveys, geological mapping, prospecting, geochemical sampling and historical drilling. Much of the earlier exploration was completed prior to 2000, with additional modern airborne geophysical work completed in recent years. The current program is expected to include:
- Compilation and digitization of available historical geological, geochemical, geophysical and drilling information;
- Integration and interpretation of historical and modern airborne geophysical datasets;
- Review of historical uranium occurrences, prospecting results and previous exploration targets;
- Assessment of structural and geological controls that may be relevant to uranium mineralization;
- Comparison of geophysical conductors, structural features, geochemical anomalies and historical exploration results; and
- Ranking of priority areas for potential follow-up exploration.
Peter Berdusco, President and Chief Executive Officer of Purecore, commented: "Yurchison has decades of exploration history and a significant volume of modern geophysical data. This program brings that information together into an integrated geological framework to refine our understanding of the Property and prioritize areas for future exploration."
Previous work at Yurchison includes a 1,424 line-kilometre high-resolution airborne magnetic survey completed at 50-metre line spacing, as well as earlier VTEM work that identified multiple geophysical zones of interest. Additional airborne magnetic, radiometric and VLF-EM surveys have also been completed across the Property.
Historical exploration at Yurchison identified uranium mineralization in several areas of the Property, including prospecting near historical trenches that returned values ranging from 0.09% to 0.30% U3O8. These results, together with historical and modern geophysical datasets, will form part of the current compilation and technical review.
Yurchison Property Summary:
Yurchison consists of 22 claims covering approximately 35,029 hectares of mineral tenure and is roughly 75 km south of Cameco's Rabbit Lake operation, with Highway 905 running through the claims. It is underlain by Wollaston Supergroup metasedimentary gneisses, including psammopelitic to pelitic gneisses, graphitic pelitic gneisses adjacent to Archean granitic gneisses in the Eastern Wollaston Domain.
The Property area has seen significant historical exploration including airborne electromagnetic, magnetic, and radiometric surveys, as well as ground magnetic, EM, IP, and gravity surveys, prospecting, geological mapping, geochemical sampling, and drilling. The drilling was primarily conducted between the 1960's and 1980's with additional work completed in the mid-1990's and 2000's. Prospecting near old trenches returned uranium (0.09% to 0.30% U3O8) and molybdenum (2,500 ppm to 6,400 ppm) mineralization in both outcrop and float samples. The Property boasts strong discovery potential for both basement-hosted uranium mineralization as well as copper, zinc and molybdenum mineralization.
The majority of the work at Yurchison was completed before 2000, with limited follow-up since, and most of the Property remains underexplored. The historical exploration on the western side of Yurchison focused on uranium showings while on the eastern side of the Property it was largely focused on exploring SEDEX-style Pb-Zn mineralization following the discovery of the historic George Lake Pb-Zn Deposit proximal to the Property. There are several uranium, molybdenum, and thorium showings, which remain highly prospective for both basement-hosted uranium, pegmatite-hosted U-Th-REE, and sediment-hosted Cu-Pb-Zn mineralization. The most recent work included airborne EM (VTEM and VLF-EM), magnetics, and radiometrics surveys flown in 2022 and 2023.
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 Serdar Donmez, P.Geo., VP of Exploration for Skyharbour as well as a Qualified Person.
About Purecore Metals Inc.:
Purecore Metals Inc. is a mineral exploration company listed on the Canadian Securities Exchange (CSE: PURE) and the Frankfurt Stock Exchange (FSE: J8Y). Purecore is focused on advancing the materials that power modern energy systems and emerging technologies. Purecore is building a critical minerals portfolio aligned with long-term trends across the energy, technology, and defense sectors, with a strategy centered on high-impact opportunities and disciplined execution.
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 forty-four projects covering over 682,100 hectares (1.69M acres) of land. Skyharbour owns 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 Zones. Adjacent to Moore, Skyharbour is advancing several uranium properties within the broader Russell Lake project area with its joint venture partner and large strategic shareholder Denison Mines. Collectively these co-flagship projects host multiple zones of high-grade uranium mineralization across a highly prospective land package with significant exploration upside, and the Company is actively working on these assets through exploration and drilling programs.
Skyharbour now has joint ventures with industry-leaders Denison Mines and Orano Canada Inc. at the Russell Lake properties and the Preston project, respectively. The Company also has several active earn-in option partners, including CSE-listed Nexus Uranium Corp. at the Mann Lake Uranium Project; TSX-V listed North Shore Uranium at the Falcon Project; UraEx Resources at the South Dufferin and Bolt Projects; Future Fuels at the Highway Project; CSE-listed Mustang Energy at the 914W Project; CSE-listed Purecore Metals at the Yurchison Project, and TSX-V listed Terra Clean Energy at the South Falcon East Project. In aggregate, Skyharbour has now signed earn-in option agreements with partners that total to potentially over $79 million in partner-funded exploration expenditures and over $52 million in cash and share payments coming into Skyharbour, assuming that these partner companies complete the earn-ins at their 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/news/SKY_SaskProject_Locator_2026-07-13_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
Corporate Communications 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, the intended use of proceeds from the Private Placement. 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.
