- Over 450,000 hectares of land made up of 15 projects, 10 of which are drill ready
- Flagship project, Moore Uranium Project, is an advanced stage uranium exploration property that Skyharbour has a 100 percent interest in with high-grade uranium mineralization at the Maverick Zone that returned drill results of up to 6.0percent U3O8 over 5.9 metres including 20.8 percent U3O8 over 1.5 metres at a vertical depth of 265 metres
- Skyharbour also has a 100 percent interest in the South Falcon Point Uranium Project which contains a NI 43-101 inferred resource totalling 7.0 million pounds of U3O8 at 0.03 percent and 5.3 million pounds of ThO2 at 0.023 percent; recently granted Tisdale Clean Energy an option to acquire up to a 75% interest in a portion of the project in exchange for funding a significant amount of exploration, as well as cash and share payments
- Skyharbour recently acquired the 73,294 hectares Russell Lake Uranium Project from Rio Tinto, which is a prospective exploration property 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.
- Joint venture with Orano Canada at the Preston Project. Orano successfully earned-in a 51 percent interest in the project by spending C$4.8m in exploration costs and making cash payments totalling C$100,000
- Another joint-venture was completed with Azincourt Energy at the East Preston Uranium Project. Azincourt earned-in a 70 percent interest by spending C$2.5m on exploration, a cash payment of C$500,000 and issuing 4.5m shares
- Skyharbour has five active earn-in option agreements with Valor Resources, Basin Uranium, Medaro Mining, Yellow Rocks Energy, and Tisdale Clean Energy, at the Hook Lake, Mann Lake, Yurchison, Wallee & Usam, and South Falcon East Projects, respectively
- The signed option agreements and joint-ventures are worth C$34m in exploration expenditures and C$14.5m in cash payments
- Skyharbour has a notable shareholder base including Denison Mines Corp (TSX: DML, NYSE: DNN), Sprott Uranium Miners ETF (URNM) ETF, Global X Uranium ETF (URA) and significant insider purchasing such as David Cates (Director) recently adding 600,000 of SYH to his portfolio
- Led by a strong management team including:
- Jordan Trimble, President & CEO – led Corporate Development for Bayfield Ventures during its acquisition by New Gold (TSX:NGD)
- Jim Pettit, Director & Chairman of the Board – over 30 years of experience within the industry specializing in finance, corporate governance and management
- David Cates, Director – current CEO & President of Denison Mines (TSX: DML, NYSE: DNN)
- Andrew J. Ramcharan, Snr V.P. Corporate Development - Extensive background in corporate development, mining & exploration, project evaluation, and investment banking spanning over 20 years
- 5 exploration/drill programs recently completed by Skyharbour and partner companies with assays pending for most of the drilling
- Skyharbour will continue to execute on its prospect generator model by acquiring projects at attractive valuations and forming joint-ventures to advance the secondary projects
Industry experts expect uranium prices to rise and the nuclear industry resurgence to start accelerating as uranium continues to play an integral role in the generation of clean, base-load, affordable and reliable energy globally. Despite a predicted demand for uranium topping 185 million pounds in 2021, a major supply-side response has played out in recent years and supply deficits have continued to grow. As uranium is needed for nuclear power, exploration and development companies focused on uranium-based assets could benefit significantly in the coming years as renewed investor interest comes back to the sector.
Skyharbour Resources (TSXV: SYH, OTCQX: SYHBF, FWB: SC1P) is a mineral exploration company that holds an extensive portfolio of uranium and thorium projects in Canada’s Athabasca Basin and is well-positioned to benefit from improving uranium market fundamentals with 450,000 hectares of drill-ready land consisting a total of fifteen projects, ten of which are drill ready. The Company has acquired from Denison Mines, a large strategic shareholder of the Company, a 100 percent 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 with drill results returning up to 6.0 percent U3O8 over 5.9 metres including 20.8 percent U3O8 over 1.5 metres at a vertical depth of 265 metres. Adjacent to the Moore Uranium Project is Skyharbour’s recently optioned Russell Lake Uranium Project from Rio Tinto, which hosts historical high-grade drill intercepts over a large property area with robust exploration upside potential. Skyharbour has the Option to acquire an initial 51 percent and up to 100 percent of Rio Tinto’s 73,294 ha Russell Lake Uranium Property strategically located in the central core of the Eastern Athabasca Basin of northern Saskatchewan. Skyharbour is actively advancing and drilling these projects with planned and ongoing exploration programs.
In addition to offering investors exposure to high-grade uranium discovery potential at its flagship Moore Project, Skyharbour leverages its property portfolio using the prospect generator model and has partner companies fund exploration and development at its other projects. It is a cost-effective model that facilitates large exploration programs without substantial equity dilution.