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.
Skyharbour Resources has expanded its Athabasca Basin land package by additional staking and increasing its portfolio to 49 projects spanning more than 730,000 hectares. This strengthens one of the largest uranium exploration portfolios in the basin and supports the company’s prospect generator strategy. Skyharbour plans to advance the new properties through option and joint venture partnerships while retaining long-term upside.
The company most recently signed a definitive option agreement with Purecore Metals, allowing Purecore to earn up to 100 percent interest in the Yurchison uranium property in Saskatchewan’s Athabasca Basin. The deal involves staged cash payments, share issuances and exploration expenditures totaling C$4.55 million for a 70 percent stake, with an additional C$6 million required to secure full ownership. An option to form a joint venture remains should Purecore opt for 70 percent.
For 2026, exploration is expected to continue across the portfolio, including over 15,000 metres of drilling at Russell Lake with JV partner Denison Mines and over 30,000 metres across Skyharbour’s broader project portfolio. Activities will continue with support from joint venture and earn-in partners through ongoing programs.
The company has also filed technical reports for both Moore and Russell Lake as of October 2026, which will aid in potential uplisting from the OTCQX to a Nasdaq Capital Market.
Company Highlights
- Large-Scale Portfolio: 49 uranium projects covering 736,000 hectares 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 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 percent over 4.4 metres.
- Partner-Funded Model: Agreements represent over $79 million in exploration expenditures, over $22 million in cash payments, and over $30 million in share issuances.
Key Projects
Moore Uranium Project
The Moore Lake Uranium Project comprises 35,758 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 percent 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 drill campaign has commenced, which is planned to reach 8,000 to 10,000 metres of diamond drilling at the Maverick Trend and other regional targets.
Phase I of the program has commenced, consisting of approximately 4,000 to 5,000 metres in 10 to 12 drill holes. Assays pending.
Russell Lake Uranium Project (JV with Denison Mines)
The Russell Lake Project covers 73,293 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.
Completed 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 and JV partner Denison are advancing a multi-phased 2026 drill campaign totalling more than 15,000 metres across the reorganized Russell Lake Joint Venture properties. The year kicked off with winter drilling at the Denison-operated Wheeler North property, including 2,500 m at the Fox Lake Trail target, with a final phase of 5,000 m at the Fork and Sphinx targets set to begin shortly. Skyharbour has also advanced its RL property with ground EM surveys and 4,000–5,000 m of follow-up drilling across several high-priority targets, with assays pending. Most recently, drilling commenced at Getty East, where approximately 3,600 m in ten to twelve holes will test the Little Man Zone and the interpreted extension of the high-grade Middle Lake trend. Together these programs represent one of the most active exploration campaigns in the eastern Athabasca Basin this year.
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 over $79 million in exploration expenditures, over $22 million in cash payments, and over $30 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.
Nicholas Coltura – Corporate Communications & Development Manager
Nicholas Coltura is a seasoned Investor Relations and Corporate Development Manager specializing in the junior resource sector. He has worked with various TSXV, CSE and OTC-listed companies, communicating important public company information to investors and stakeholders and maintaining external relationships with industry partners. Coltura completed a BBA with a specialty in Finance along with a Public Companies: Finance, Governance and Compliance Course at Simon Fraser University.
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.
