Skyharbour Signs Definitive Agreement with Purecore to Option its Yurchison Uranium Property in the Athabasca Basin
Purecore has exercised its option to acquire the Yurchison uranium property located within Saskatchewan’s Athabasca Basin.
Skyharbour Resources Ltd. signed a definitive option agreement with Purecore Metals Inc. on July 30, 2026, following a non-binding Letter of Intent executed on July 16, 2026. Under the terms of the deal, Purecore can earn an initial 70% interest in the Yurchison uranium property by paying C$350,000 in cash, issuing C$700,000 in stock, and spending C$3,500,000 on exploration over three years. Skyharbour retains a 2.0% Net Smelter Return (NSR) royalty on the property.
Purecore may earn the remaining 30% for an additional C$6,000,000 in cash and stock, bringing the total potential consideration to C$9,550,000. The Yurchison property covers 35,029 hectares in the Wollaston Domain, located approximately 75 km south of Cameco’s Rabbit Lake operation.
Skyharbour Resources Ltd. (SYH) has signed a definitive agreement, a routine follow-up to the letter of intent dated July 16, which aligns with the company’s established prospect generator business model. The transaction adds to a portfolio of over 682,000 hectares and contributes to the company’s pipeline of partner-funded exploration and cash or share payments.
The terms are consistent with prior earn-in agreements, such as those with Terra Clean Energy, North Shore Uranium, and Denison Mines. The deal involves a 2.0% NSR retention and potential C$9.55M in total consideration, providing a clear upside path without immediate equity dilution beyond the agreed tranches. No unexpected market-moving information is present, as the transaction is incremental and expected.
Skyharbour Resources Ltd. (SYH) operates a prospect generator model within the Athabasca Basin in Saskatchewan, managing a portfolio that exceeds 682,000 hectares across 44 projects. The company’s flagship assets include the Russell Lake project, which is held in a joint venture with Denison Mines, and the 100%-owned Moore Lake property.
Russell Lake features high-grade targets such as the Fork Zone and Sphinx. Moore Lake has a history of high-grade intercepts, including 11.77% U3O8 over 1.6m. The company leverages joint ventures and option agreements to fund exploration while retaining minority stakes and royalties.