Skyharbour stakes 40 exploration claims in Saskatchewan

Executive Summary

• Skyharbour Resources Ltd. has acquired 40 new prospective uranium exploration claims in Northern Saskatchewan via low-cost staking, increasing its total land package to 662,887 hectares across 43 projects.
• The newly acquired claims are 100% owned and will form part of the company's prospect generator business, where Skyharbour seeks strategic partners to advance and unlock value.
• The expansion adds significant acreage to key projects including Carter North (36,393 ha), Yurchison (16,966 ha), and 914/Elevator (13,785 ha), while also expanding holdings at Rover, East Dufferin, Brustad, Pendleton, Tarku, and South Dufferin.

Key Details

• Total Portfolio Size: 662,887 hectares (1,638,029 acres) across 43 projects.
• New Claims Acquired: 40 claims totaling 64,913 hectares (160,403 acres).
• Ownership: All newly staked claims are 100% owned by Skyharbour.
• Strategic Focus: New claims will be part of the prospect generator business to seek strategic partners; company remains focused on co-flagship Russell Lake (joint venture with Denison Mines) and 100%-owned Moore project.
• Carter North Project:
  • 10 new claims totaling 36,393 ha.
  • Located in western Athabasca basin, adjacent to Cameco's North Williams project, ~35 km NE of NexGen's Arrow deposit.
  • Historical work includes airborne radiometrics, EM (GeoTEM, MEGATEM, ZTEM, MobileMT), gravity, and sampling.
  • One drill hole (BL-08-01) intersected sandstone-basement unconformity with 155 ppb Au over 0.5m.
  • Historical lake sediment survey reported 240 ppm U anomaly.
  • 2023 MobileMT survey by Stallion Uranium detected numerous basement conductors extending Patterson Lake, Carter, and Derksen trends.
• Rover Project:
  • 1 new claim totaling 793 ha.
  • Located ~40 km E of Cameco's McArthur River mine, ~31 km SE of Cigar Lake.
  • Historical work includes prospecting for Pb-Zn-Ni anomalies and airborne geophysics (VTEM, magnetic).
  • One drill hole (4675-001-79) completed in 1979; property largely untested by diamond drilling.
• East Dufferin Project:
  • 1 new claim totaling 1,451 ha.
  • Located ~4 km W of Skyharbour's South Dufferin project (optioned to UraEx Resources).
  • Underlain by Paleoproterozoic metasedimentary gneisses of Mudjatik domain.
  • Recent work includes ZTEM and airborne full tensor gravity (FTG) surveys (2009-2010).
• Brustad Project:
  • 1 new claim totaling 791 ha.
  • Located ~21 km E of South Dufferin property.
  • Recent airborne geophysical surveys identified a north-south-trending EM conductor.
• 914 and Elevator Projects:
  • Combined 13 claims totaling 13,785 ha (914: 4,031 ha; Elevator: 9,754 ha).
  • Located 35-55 km S of Cameco's Key Lake operation.
  • Geological setting known for basement-hosted, unconformity-related uranium mineralization.
  • Historical exploration in 1970s; modern work limited to partial VTEM coverage and prospecting.
  • Multiple uranium and REE showings exist in surrounding area.
• Pendleton Project:
  • 1 new claim totaling 1,448 ha (part of 4 non-contiguous claims totaling 5,338 ha).
  • Located ~70 km SE of Cameco's Key Lake operation.
  • Lies along Needle Falls shear zone.
  • Single drill hole (PL-003) intersected faulted/sheared graphitic pelitic gneiss with anomalous pathfinder elements.
  • Prospective for basement-hosted uranium, pegmatite-hosted U-Th-REE, and sediment-hosted Pb-Zn-Cu.
• Yurchison Project:
  • 16 new claims totaling 16,966 ha, expanding total package to 35,029 ha.
  • Consolidates former Yurchison and Spence properties.
  • Located ~75-85 km S of Cameco's Rabbit Lake operation.
  • Significant historical exploration including drilling (1960s-1980s, mid-1990s, 2000s) focused on SEDEX-style Pb-Zn mineralization.
  • Recent work (2022-2023) included airborne EM (VTEM, VLF-EM), magnetics, and radiometrics.
• Tarku Project:
  • 1 new claim totaling 2,384 ha (part of 3 claims totaling 8,262 ha).
  • Adjacent to South Dufferin project (optioned to UraEx Resources).
  • Covers southern extension of Virgin River shear zone, hosting high-grade uranium at Cameco's Dufferin Lake zone (1.73% U3O8 over 6.5m) and Centennial deposit (8.78% U3O8 over 33.9m).
• South Dufferin Project:
  • 1 new claim totaling 49 ha, expanding total package to 39,398 ha across 25 claims.
  • Optioned to UraEx Resources (Oct 2024) for up to 100% interest.
  • Covers southern extension of Virgin River shear zone.
  • Drill-ready with several prospective targets; underwent diamond drilling by partner UraEx in summer 2025.
• Existing Portfolio Context:
  • Moore Project: 100% owned, advanced-stage, high-grade mineralization (up to 6.0% U3O8 over 5.9m).
  • Russell Lake: Joint venture with Denison Mines.
  • Joint Ventures: Orano Canada (Preston), Azincourt Energy (East Preston), Thunderbird Resources (Hook Lake).
  • Earn-in Options: Partners include Basin Uranium Corp, North Shore Uranium, UraEx Resources, Hatchet Uranium, Mustang Energy, and Terra Clean Energy.
  • Potential Partner Financing: Over $76 million in exploration expenditures and over $42 million in cash/share payments.

Notable Quotes

• "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 43 projects covering over 662,887 hectares (1,638,029 acres) of land." (From About Skyharbour Resources Ltd.)