Skyharbour and JV Partner Orano Canada Announce Upcoming Exploration and Drilling Plans for Summer 2026 at Preston Lake Uranium Project

Executive Summary

• Skyharbour Resources Ltd. announced a comprehensive 2026 exploration and drilling program at its Preston Lake Uranium Project, jointly operated by partner Orano Canada Inc.
• The campaign will feature a helicopter-borne Airborne Gravity Gradiometry (AGG) survey targeting high-priority corridors in the northern property, followed by a summer diamond drilling program of up to 3,500 metres across approximately ten holes.
• The initiative aims to refine drill targets, test high-priority conductive corridors (FSAN and Area B), and advance geological understanding of structural features favorable for unconformity-associated uranium mineralization.

Key Details

• Project & Location: Preston Lake Uranium Project, a 49,635-hectare property in the southwestern Athabasca Basin, Saskatchewan, Canada.
• Ownership & Operator: Orano Canada Inc. holds a 79.2% interest and serves as operator; Skyharbour Resources holds the remaining 20.8%.
• Geophysical Survey: Helicopter-borne Airborne Gravity Gradiometry (AGG) survey covering the northern high-priority corridor (FSAN and Canoe Lake grids). Survey parameters include ~35m flight height and 100m line spacing. Expected duration: ~2 weeks.
• Survey Budget Reallocation: Ground gravity budget reallocated to fund the airborne AGG survey. Detailed ground gravity surveys (25x25m or 50x50m station spacing) are now scheduled for early 2027 to screen AGG anomalies and prepare for the 2027 summer drilling season.
• Drilling Program Scope: Summer diamond drilling commencing July 2026, totaling up to 3,500 metres across roughly ten drill holes. Average depth ~300 metres, with potential for deeper holes based on results.
• FSAN Target Area: 6 to 8 drill holes planned to test 4 to 6 high-priority targets. Focuses on the FSA conductive corridor, which has historically returned the most anomalous uranium values on the property. Targets feature segmented conductive signals coincident with localized magnetic and gravity lows, indicating faulting and structural complexity favorable for hydrothermal fluid flow.
• Area B Target Area: 2 to 4 drill holes planned to test the final remaining large-scale conductive trend on the property. Supported by five lines of DC resistivity data collected in 2020. Results will determine future exploration focus along this trend.
• Strategic Context: Builds on extensive 2024 and 2025 exploration groundwork. The property is part of a broader portfolio with significant exploration upside, adjacent to major discoveries by NexGen Energy, Paladin Energy, and F3 Uranium. Skyharbour maintains joint ventures with Orano Canada and Denison Mines, plus multiple earn-in option agreements totaling potentially over $76M in partner-funded exploration and $45M in cash/share payments.