Skyharbour Bolsters Uranium Portfolio in the Prolific Athabasca Basin

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1. Ownership and Share Structure Information

The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.

Skyharbour Resources Ltd. (SYH:TSX.V; SYHBF:OTCQX; SC1P:FSE) has materially expanded its Athabasca Basin footprint, adding over 149,000 hectares across 46 claims to one of the largest land positions in the basin.

Key Takeaways

• Skyharbour Resources acquired 46 new mineral claims totaling ~149,439 hectares in Saskatchewan's Athabasca Basin, forming ten new or reacquired uranium projects.
• The staking expands Skyharbour's total portfolio to 682,100 hectares (1.69 million acres) across 44 uranium properties.
• New claims include Carswell East, Carswell North, Cree North, Rapids, Carter West, Ford Lake, LEB, Perpete, and Iris, plus additions to existing Bennett, Carter North, and Elevator projects.
• Several properties carry historical high-grade results, including 7.22% U₃O₈ (uranium) over 0.9 m at Pine's Varmac veins and grab samples up to 427 g/t gold nearby.
• The company plans to advance these newly staked assets through its prospect generator model, seeking option and joint venture partners while retaining royalties and equity exposure.
• Skyharbour remains focused on active drilling at its co-flagship Moore project and Russell Lake joint venture with Denison Mines, with the new claims treated as separate from that core program.

46 Claims Form Ten New Projects

On July 23, 2026, Skyharbour announced the acquisition of 46 new mineral claims spread over approximately 149,439 hectares (ha) in the Athabasca Basin of Canada, which is consistently ranked as a top mining jurisdiction by the Fraser Institute. The company's total portfolio now consists of 682,100 ha across 44 uranium properties. A map of the new claims can be found here.

A list of new claims includes the following:

• Bennett Project – 5 additional claims totaling 12,624.1 ha

• Iris Project – 3 reacquired claims totaling 4,581.0 ha

• Carswell East Project – 4 new claims totaling 19,786.0 ha

• Carswell North Project – 1 new claim totaling 1,544.2 ha

• Carter North Project – 2 additional claims totaling 6,349.5 ha

• Carter West Project – 6 new claims totaling 24,397.9 ha

• Cree North Project – 7 new claims totaling 30,203.9 ha

• Elevator Project – 1 additional claim totaling 4,696.1 ha

• Ford Lake Project – 3 new claims totaling 4,920.5 ha

• LEB Project – 2 new claims totaling 607.4 ha

• Perpete Project – 1 new claim totaling 350.5 ha

• Pine Project – 7 new claims totaling 23,816.9 ha

• Rapids Project – 4 new claims totaling 15,561.2 ha

Notably, the press release stated that the LEB Project is highly prospective for both unconformity-hosted and basement-hosted uranium mineralization. Historical sampling at this site has shown grab samples including up to 796 and 467 ppm (parts per million) uranium. Historical discoveries have also been found at the Pine Project and the Carter North Project.

Skyharbour is a Canadian uranium exploration company focused on projects in Canada's Athabasca Basin.

U.S. Nuclear Capacity Targets Quadruple Growth

Uranium is growing in importance as a crucial component of the energy sector. As a critical component in nuclear energy and emerging technologies, a shortage of the element is only expected to grow. The International Atomic Energy Agency projects that global nuclear capacity could double by 2050, reaching between 561 gigawatts and 992 gigawatts. This prediction has caused uranium mine policy support to strengthen. In May 2025, the U.S. issued a series of executive orders aimed at quadrupling domestic nuclear capacity to 400 gigawatts by 2050, from roughly 100 gigawatts today.

"The United States burns through roughly 50 million pounds of uranium each year to fuel the world's largest fleet of nuclear reactors, and imports approximately 95% of that uranium from foreign suppliers," reported Equity Insider on May 14, 2026. The report continued, "That structural import dependence — combined with accelerating demand projections for nuclear power across AI data centers, grid expansion, and emerging space-deployment mandates — has placed domestic uranium development firmly into the national security conversation."

Currently, several companies are advancing America's domestic uranium mine portfolio. Among them, Uranium Energy Corp has continued to develop its U.S.-based in-situ recovery uranium production platform across Texas and Wyoming, alongside development-stage assets in the Powder River and Great Divide basins.

Experts Eyeing New Developments

On July 23, 2026, Jeff Clark and Daniel Flynn of The Paydirt Prospector dove into Skyharbour's latest news. Flynn wrote: "In our summer portfolio review, we rated Skyharbour a 'Hold', mainly because we hadn't heard much from Moore since drilling began. However . . . plenty of news flow is ahead. It’s particularly compelling that total drilling this year will be double last year's, and all those results are ahead. We could see assays from Moore and the company's broader project pipeline start to add value. Jeff remains overweight. Stay tuned for the next round of results."

Haywood Capital Markets analyst Marcus Giannini began covering Skyharbour on May 28, 2026, with a "Buy" recommendation and a CA$1-per-share target. He described the company as a uranium explorer focused on finding unconformity-related deposits in the Athabasca Basin, with Moore Lake and Russell Lake serving as its principal projects.

"Skyharbour is a uranium exploration company we have followed for some time and has frequently been profiled in Haywood’s Exploration Quarterly Report," the analyst wrote. "Skyharbour is focused on the discovery of unconformity-style uranium deposits in the prolific Athabasca Basin, anchored by its co-flagship Moore Lake and Russell Lake projects."

Giannini said Skyharbour broadens its exploration reach through a prospect-generator model that relies largely on partner-funded work at projects near established uranium-bearing corridors. He identified the company's Denison Mines Corp. (DML:TSX; DNN:NYSE.MKT) partnership at Russell Lake as a major development, providing the project with a stronger exploration program backed by an experienced, well-funded partner.

"With the partnership at Russell established, a proven project in Moore, and exposure to significant exploration drilling through joint venture projects, we think the timing is right for Skyharbour to take the next step in its exploration journey," Giannini said. "We like Skyharbour for the exposure it provides in terms of blue-sky exploration upside in a proven uranium district, while maintaining a lower risk profile relative to pure play exploration peers through its prospect generator business with minimized dilution through a partnership model."

Moore, Russell Lake Drilling Continues

Skyharbour's 2026 program is anchored by more than 30,000 meters of anticipated drilling across the portfolio, concentrated on its co-flagship assets in the eastern Athabasca Basin. At the 100%-owned, 35,705-hectare Moore Uranium Project, the Company is executing a multi-phased 8,000–10,000-meter campaign — Phase 1 comprising roughly 4,000–5,000 meters in 10 to 12 holes — testing the newly delineated Nomad corridor, the untested strike extension at Esker where historical hole ML-165 returned 1.21% U₃O₈ over 0.5 m, the underexplored Nutana target, and basement-focused expansion drilling at the Maverick Zones, which have delivered results including 6.0% U₃O₈ over 5.9 m and, more recently, 4.84% U₃O₈ over 4.4 m including 11.77% over 1.6 m in ML25-15.

Across the adjacent Russell Lake Joint Ventures, the 73,314-hectare package restructured with Denison Mines in December 2025 into four separate properties carrying total consideration of up to CA$61.5 million — over 15,000 meters is planned in 2026, including approximately 7,500 meters sole-funded by Denison at Wheeler North targeting Fox Lake Trail, the Fork Zone (host to 3.0% U₃O₈ over 0.5 m) and Sphinx, located roughly one kilometer from Denison's Phoenix deposit, alongside 4,000–5,000 meters on the Skyharbour-operated RL property and approximately 3,600 meters at Getty East, with more than 35 kilometers of largely untested conductors remaining across the joint ventures.

Skyharbour simultaneously runs a prospect generator model, optioning and joint-venturing its secondary projects to partner companies that fund the exploration while Skyharbour retains a minority interest, royalties, cash, and share payments, and equity positions in the partners — in aggregate representing potentially over CA$76 million in partner-funded exploration expenditures and over CA$45 million in cash and share payments to the Company.

This pipeline was materially deepened as Skyharbour acquired 46 new mineral claims totaling approximately 149,439 hectares through Saskatchewan's low-cost online staking process, aided by a proprietary in-house tenure monitoring system that provides a first-mover advantage on lapsing ground. The claims form 10 new or reacquired projects, lifting the portfolio to 44 projects across 682,100 hectares (1.69 million acres) and giving Skyharbour a substantially larger inventory of optionable ground to convert into partner-funded exploration without diluting shareholders.

Ownership & Share Information¹

Skyharbour Resources Ltd. has a market cap of CA$88.46 million, with 221.15 million shares outstanding. The company's 52-week range is CA$0.28-CA$0.66. Institutions own 29.98% of shares, while Management & Insiders own 3.13%. The remaining 66.89% of shares are Retail.

Frequently Asked Questions

Q: What is the Athabasca Basin?

A: The Athabasca Basin is a region in northern Saskatchewan and Alberta that hosts some of the world's highest-grade uranium deposits. It is considered one of the most important uranium exploration and mining districts globally.

Q: What is uranium used for?

A: Uranium is a critical mineral primarily used as fuel for nuclear power plants, which generate low-carbon electricity. It is also used in medical isotope production, scientific research, and certain defense applications.

Q: What is a mineral claim?

A: A mineral claim gives a company the legal right to explore a specific area for valuable minerals. If exploration is successful, the company may apply for additional permits to develop a mine, subject to regulatory approval.

Q: What is a prospect generator model?

A: A prospect generator model is a business strategy in which a mining company acquires and explores mineral properties before partnering with other companies to fund further development. In return, the company may retain ownership interests, royalties, or equity while reducing its own exploration costs.

Q: What is a joint venture in mining?

A: A joint venture is a partnership between two or more companies to explore or develop a mining project together. The partners typically share costs, risks, and any future benefits according to the terms of their agreement.

Q: What is uranium mineralization?

A: Uranium mineralization refers to naturally occurring concentrations of uranium within rock formations. Exploration companies search for these areas because they may contain enough uranium to support future mining if further drilling confirms their size and grade.