SYH:TSX.V; SYHBF:OTCQX; SC1P:FSE

Skyharbour Resources Ltd.

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 fifteen projects, ten of which are drill-ready, covering over 450,000 hectares of land. Skyharbour has acquired from Denison Mines, a large strategic shareholder of the Company, a 100% interest in the Moore Uranium Project which is located 15 kilometres east of Denison's Wheeler River project and 39 kilometres south of Cameco's McArthur River uranium mine. Moore is an advanced stage uranium exploration property with high grade uranium mineralization at the Maverick Zone with drill results returning up to 6.0% U3O8 over 5.9 metres including 20.8% U3O8 over 1.5 metres at a vertical depth of 265 metres. Adjacent to the Moore Uranium Project is Skyharbourís recently optioned Russell Lake Uranium Project from Rio Tinto, which hosts historical high-grade drill intercepts over a large property area with robust exploration upside potential. Skyharbour has the Option to acquire an initial 51% and up to 100% of Rio Tintoís 73,294 ha Russell Lake Uranium Property strategically located in the central core of the Eastern Athabasca Basin of northern Saskatchewan. Skyharbour is actively advancing and drilling these projects with planned and ongoing exploration programs.

Skyharbour has a joint-venture with industry-leader Orano Canada Inc. at the Preston Project whereby Orano has earned a 51% interest in the project through exploration expenditures and cash payments. Skyharbour now owns a 24.5% interest in the Project.

Skyharbour also has a joint-venture with Azincourt Energy at the East Preston Project whereby Azincourt has earned a 70% interest in the project through exploration expenditures, cash payments and share issuance. Skyharbour now owns a 15% interest in the Project. Preston and East Preston are large, geologically prospective properties proximal to Fission Uranium's Triple R deposit as well as NexGen Energy's Arrow deposit.

Skyharbour has several active option partners including: ASX-listed Valor Resources on the Hook Lake Uranium Project whereby Valor can earn-in 80% of the project through CAD $3,500,000 in exploration expenditures, $475,000 in cash payments over three years and an initial share issuance; CSE-listed Basin Uranium Corp. on the Mann Lake Uranium Project whereby Basin Uranium can earn-in 75% of the project through $4,000,000 in exploration expenditures, $850,000 in cash payments as well as share issuances over three years; and CSE-listed Medaro Mining Corp. on the Yurchison Project whereby Medaro can earn-in an initial 70% of the project through $5,000,000 in exploration expenditures, $800,000 in cash payments as well as share issuances over three years followed by the option to acquire the remaining 30% of the project through a payment of $7,500,000 in cash and $7,500,000 worth of shares. More recently, Skyharbour announced two new earn-in option agreements with Yellow Rocks Energy, a private Australian entity, to option the Wallee and Usam Island projects, and Tisdale Clean Energy at the South Falcon East Project, bringing the total to seven partner companies.

With these various earn-in option agreements and joint venture partnerships, Skyharbour can expect more than $34 million in exploration expenditures, over $20 million in stock and around $15 million in cash payments made to the Company, assuming the partner companies earn-in at their respective projects.

Skyharbour's goal is to maximize shareholder value through new mineral discoveries, committed long-term partnerships, and the advancement of exploration projects in geopolitically favorable jurisdictions.

SYH:TSX.V SYHBF:OTCQX SC1P:FSE

Expert Comments:

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headshot of Siddharth Rajeev

Siddharth Rajeev, Fundamental Research Corp.

(10/24/22)
"Skyharbour Resources Inc. signed an agreement with Tisdale Clean Energy to option the South Falcon East property, Saskatchewan. Tisdale can acquire a 75% interest by spending $10.5M on exploration, issuing 1.11M shares and making additional cash/share payments of $11M, reflecting an implied valuation of $30M."

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Siddharth Rajeev, Fundamental Research Corp.

(6/21/22)
"Skyharbour Resources Ltd. has expanded its uranium portfolio through an option to acquire the Russell Lake uranium project from Rio Tinto. . .the property, comprised of 26 claims covering 73,294 ha, is situated in the eastern portion of the Athabasca basin. . .Skyharbour can earn a 100% interest by paying approximately $37.5M (in cash or shares) and by spending $12M in exploration over several years."

headshot of David Talbot

David Talbot, Red Cloud Securities

(5/20/22)
"Skyharbour Resources Ltd. announced it acquired an initial 51%, and up to 100%, interest in the Russell Lake uranium project in the Athabasca Basin from Rio Tinto. . .this was an excellent acquisition and improves the company's odds of discovering further high-grade basement or unconformity uranium deposits in the Athabasca Basin."

headshot of Siddharth Rajeev

Siddharth Rajeev, Fundamental Research Corp.

(3/9/22)
"Skyharbour Resources Ltd. recently commenced a drill program at its flagship Moore uranium project; 2021 summer-fall drilling (6,598m/19 drill holes) returned encouraging results, including high-grade mineralization of 2.54% U3O8 (over 6m) and a long intercept of 0.54% over 19.5m. We believe the company is likely to move ahead with a maiden resource estimate after the proposed drill programs this year."

headshot of Thibaut Lepouttre

Thibaut Lepouttre, Caesars Report

(2/23/22)
"Skyharbour Resources Ltd. released the assay results of the final six holes from its 2021 summer-fall drill program at its fully-owned Moore uranium project. . .hole ML21-19 was singled out by the company, and that's not a surprise considering this hole intersected 19.5m of 0.54% uranium including a high-grade interval of 4m of 2.07% U3O8."

Clive Maund, CliveMaund.com

(2/17/22)
"Skyharbour Resources Ltd. has a lot of uranium exploration projects in Canada, many of which are drill ready. So with commodities generally and uranium in particular expected to continue in an accelerating bull market against the background of increasing inflation, the company's stock looks set to do well. . .Skyharbour is a Buy here for the next major upleg."

More Expert Comments

Experts Following This Company

headshot of Thibaut Lepouttre
Thibaut Lepouttre, Editor Caesars Report
Clive Maund – CliveMaund.com
headshot of Siddharth Rajeev
Siddharth Rajeev, Analyst – Fundamental Research Corp.
headshot of David Talbot
David Talbot, Analyst – Red Cloud Securities

Company News 

11/28/2022 – Skyharbour's Partner Company Basin Uranium Corp. Completes 2022 Drilling at Mann Lake Uranium Project

11/23/2022 – Skyharbour to Carry Out Multiple Phases of Diamond Drilling Totalling 10,000 Metres at the Russell Lake Uranium Project, Saskatchewan

10/20/2022 – Skyharbour Signs Option Agreement with Tisdale Clean Energy to Option the South Falcon East Property, Saskatchewan

10/13/2022 – Skyharbour Intersects Additional Uranium Mineralization at High-Grade Moore Lake Project and Plans for Upcoming Winter Drill Programs

9/30/2022 – Skyharbour Begins Trading on the OTCQX in the United States

9/30/2022 – OTC Markets Group Welcomes Skyharbour Resources Ltd. to OTCQX

9/28/2022 – Skyharbour Signs Option Agreement with Yellow Rocks Energy Ltd to Option the Wallee and Usam Island Uranium Projects, Saskatchewan

9/21/2022 – Skyharbour's Partner Company Valor Resources Identifies Eleven New Uranium Targets at the Hook Lake Uranium Project in the Athabasca Basin

9/13/2022 – Skyharbour's Partner Company Basin Uranium Corp. Announces Completion of Geophysical Surveys at Mann Lake

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Investing Highlights
 
Top tier Athabasca Basin uranium project portfolio including high-grade flagship Moore project and recently optioned Russell Lake project from Rio Tinto with robust discovery potential
 
Focused exploration and drilling to unlock value through new discoveries and resource expansion at primary projects; utilizing the prospect generator and JV model to advance secondary projects
 
Strong management and geological team with expertise in the basin and a track record of success; strategic partnerships with Denison, Orano and Rio
catalyst Calendar
Q2
2022
Uranium market recovery gaining momentum
Q3
2022
Initial drilling at Russell Lake project and continued drilling at 100% owned Moore project
Q4
2022
JVís and option partner companies funding exploration and drilling at secondary projects