Skyharbour Resources

Investor Insight

Skyharbour Resources provides exposure to high-grade uranium discovery potential in the Athabasca Basin through its co-flagship Moore and Russell Lake projects, supported by a strategic joint venture with Denison Mines at Russell Lake and a portfolio-wide exploration pipeline of over 30,000 metres of drilling planned for 2026. With ongoing drilling, multiple partner-funded programs, and a large project portfolio advanced through strategic partnerships, the company is positioned to deliver consistent exploration catalysts in a strengthening uranium market.

Overview

Skyharbour Resources (TSXV:SYH,OTCQX:SYHBF,FWB:SC1P) is a uranium exploration company focused on the Athabasca Basin, a region recognized for hosting some of the highest-grade uranium deposits globally. The company employs a hybrid approach, advancing its core projects while partnering on non-core assets through earn-in and joint venture agreements.

In 2025, Skyharbour completed 17,728 metres of drilling, including 7,884 metres at Moore and 9,844 metres at Russell Lake. These programs tested multiple target areas and confirmed high-grade uranium mineralization at the Maverick Zone at Moore while advancing targets at Russell Lake.

For 2026, exploration is expected to continue across the portfolio, including over 15,000 metres of drilling at Russell Lake and over 30,000 metres across Skyharbour’s broader project portfolio, supported by joint venture partners and ongoing programs.

Company Highlights

• Large-Scale Portfolio: 43 uranium projects covering 662,887 hectares (1.6M acres) in the prolific Athabasca Basin.
• Dual Strategy: Advancing the Moore and Russell Lake projects while utilizing a prospect generator model across secondary assets.
• Denison Joint Venture: Agreement at Russell Lake provides for up to C$61.5 million in total project consideration.
• 2026 Exploration Activity: Over 15,000 metres of drilling planned at Russell Lake, 8-10,000 metres of drilling at Moore Lake and approx. 6,000 metres of drilling anticipated across the broader project portfolio.
• High-Grade Results at Moore: Drilling has returned 11.77 percent U₃O₈ over 1.6 metres within 4.84% over 4.4 metres.
• Partner-Funded Model: Agreements represent $76.2 million in exploration expenditures, $16 million in cash payments, and over $26.3 million in share issuances.

Flagship Projects

Moore Uranium Project

The Moore Lake Uranium Project comprises 35,705 hectares in the eastern Athabasca Basin and hosts the 4.7-kilometre Maverick structural corridor. The project has benefited from over $50 million in historical exploration and more than 140,000 metres of drilling, providing a substantial technical foundation.

Drilling has intersected high-grade uranium mineralization across multiple zones, including 11.77 percent U₃O₈ over 1.6 metres within 4.84 percent over 4.4 metres, 20.8 percent over 1.5 metres, and 0.72% over 17.5 metres, including 1.0 percent over 10.0 metres. These results demonstrate the presence of high-grade uranium mineralization along the Maverick corridor.

Recent exploration has also identified the Nomad Zone approximately 1.7 kilometres southwest of the Main Maverick Zone, indicating additional exploration potential. A multi-phased, 2026 drilling campaign is currently underway, consisting of 8,000–10,000 metre which is targeting the Nomad, Esker, Maverick, and Nutana Zones along the high-grade Maverick Trend.

Russell Lake Uranium Project (Joint Venture Platform)

The Russell Lake Project covers 73,314 hectares in the eastern Athabasca Basin and is located between the Key Lake and McArthur River operations. The project includes over 95,000 metres of historical drilling in more than 230 holes, defining multiple target areas and uranium showings.

Recent drilling programs have advanced several targets, including the Fork Zone, where results include 0.721 percent U₃O₈ over 2.5 metres, including 2.99 percent over 0.5 metres. Exploration conducted from 2023 through 2025 totals approximately 24,500 metres, contributing to the advancement of multiple priority zones across the project.

A strategic agreement with Denison Mines has restructured the project into four joint ventures with up to C$61.5 million in total consideration. Skyharbour retains operatorship and a majority interest in key claims, and exploration programs are expected to continue with over 15,000 metres of drilling planned in 2026.

Prospect Generator Strategy

Skyharbour’s prospect generator model allows the company to advance a large portfolio of uranium projects while limiting direct funding requirements. Through joint venture and earn-in agreements, partners fund exploration activities and provide cash and share consideration.

The company’s agreements represent $76.2 million in exploration expenditures, $16 million in cash payments, and over $26.3 million in share issuances, assuming full earn-in commitments. This structure enables continued advancement of multiple projects while maintaining exposure to exploration success and keeping equity dilution in check.

Exploration activity across partner-funded projects is expected to continue in 2026, contributing to ongoing project advancement and potential discovery across the portfolio.

Management Team

Jordan Trimble – President, CEO & Director

Jordan Trimble is a resource-sector executive with experience in corporate development, capital markets, and strategy. He previously served as Corporate Development Manager at Bayfield Ventures prior to its acquisition by New Gold in 2014. He is a CFA Charterholder, holds a B.Sc. from the University of British Columbia, and was named to Business in Vancouver’s Forty Under 40 (2025).

Jim Pettit – Chairman

Jim Pettit has over 40 years of experience in the resource sector, with expertise in finance, corporate governance, and company development. He previously served as Chairman and CEO of Bayfield Ventures, which was acquired by New Gold in 2014. He currently serves on the boards of several public resource companies.

Rob Chang – Independent Director

Rob Chang is a financial services executive with nearly 30 years of experience in the mining and uranium sectors. He previously served as Managing Director and Head of Metals and Mining at Cantor Fitzgerald and was recognized by Bloomberg as the Best Precious Metals Analyst in 2016. He has also held executive roles including co-founder and CEO of Gryphon Digital Mining.

David Cates – Director

David Cates is President and CEO of Denison Mines and has been with the company since 2008. He previously served as Vice President Finance and CFO, where he led mergers and acquisitions including Rockgate Capital and International Enexco. Prior to Denison, he worked with Kinross Gold and PwC focusing on the resource sector.

Joseph Gallucci – Director

Joseph Gallucci is Head of Mining Investment Banking at Ventum Financial, where he leads the firm’s global mining practice. He has over 20 years of experience in mining capital markets, including roles in investment banking and equity research at BMO Capital Markets, GMP Securities, Dundee Securities, Eight Capital, and Laurentian Bank Securities. He holds a Bachelor of Commerce from Concordia University and an MBA in Investment Management.

Amanda Chow – CFO & Director

Amanda Chow is a Chartered Professional Accountant with over 25 years of experience working with public companies. She has served as a director of Skyharbour and brings extensive experience in financial management and corporate governance. She holds a Bachelor of Business Administration from Simon Fraser University.

Brady Rak – VP, Business Development

Brady Rak is an investment professional with over 13 years of experience in Canadian capital markets. He has worked with independent broker dealers including Ventum Financial, Salman Partners, and Union Securities, advising high-net-worth and corporate clients. He holds a BBA in Management from Northwood University and is licensed in options trading.

Serdar Donmez – VP, Exploration

Serdar Donmez is a professional geoscientist with over 20 years of uranium exploration experience in Saskatchewan and internationally. He spent 17 years at Denison Mines, contributing to the advancement of the Phoenix and Gryphon deposits through feasibility in 2023. He is a registered professional geoscientist and holds a degree in geological engineering.

Dave Billard – Head Consulting Geologist

Dave Billard is a geologist with over 40 years of experience in uranium, gold, and base metal exploration. He previously served as COO, VP Exploration, and Director of JNR Resources, where he played a key role in the discovery of the Maverick and Fraser Lakes B zones prior to its acquisition by Denison Mines. He also spent over 12 years with Cameco Corporation.

Christine McKechnie – Senior Project Geologist

Christine McKechnie is a geologist specializing in uranium deposits in the Athabasca Basin. She has worked with companies including Claude Resources, JNR Resources, CanAlaska Uranium, and Cameco on gold and uranium exploration projects. She holds a B.Sc. (High Honors) and an M.Sc. from the University of Saskatchewan and was awarded the CIM Barlow Medal in 2015.