This article has been disseminated on behalf of Skyharbour Resources Ltd. and may include paid advertising.
Skyharbour Resources (TSX-V: SYH) (OTCQX: SYHBF) (Frankfurt: SC1P) entered into a definitive option agreement with Purecore Metals (CSE: PURE), allowing Purecore to earn up to a 100% interest in the Yurchison uranium property in northern Saskatchewan. To earn an initial 70% interest, Purecore must provide Skyharbour with C$350,000 in cash and C$700,000 in shares and incur C$3.5 million in exploration expenditures over three years. Purecore can subsequently acquire the remaining 30% for an additional C$3 million cash payment and C$3 million in shares, with Skyharbour retaining a 2% net smelter return royalty.
The Yurchison property consists of 22 claims covering approximately 35,029 hectares about 75 kilometers south of Cameco Rabbit Lake operation, with Highway 905 crossing the property. Historical samples returned uranium values ranging from 0.09% to 0.30% U3O8 and molybdenum values from 2,500 to 6,400 ppm, while modern airborne electromagnetic, magnetic and radiometric surveys were completed in 2022 and 2023. Skyharbour said the agreement advances its strategy of generating value from its Athabasca Basin portfolio through partnerships while maintaining exploration focus on its core Moore and Russell assets.
To view the full press release, visit https://ibn.fm/8WD4h
About 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 interest in forty-four projects covering over 682,100 hectares (1.69M acres) of land. Skyharbour owns 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 highlighted by drill results of 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 Moore, Skyharbour is advancing several uranium properties within the broader Russell Lake project area with its joint venture partner and large strategic shareholder Denison Mines. Collectively these co-flagship projects host multiple zones of high-grade uranium mineralization across a highly prospective land package with significant exploration upside, and the Company is actively working these assets through exploration and drilling programs.
Skyharbour now has joint ventures with industry-leaders Denison Mines and Orano Canada Inc. at the Russell Lake properties and the Preston project, respectively. The Company also has several active earn-in option partners, including CSE-listed Nexus Uranium Corp. at the Mann Lake Uranium Project; TSX-V listed North Shore Uranium at the Falcon Project; UraEx Resources at the South Dufferin and Bolt Projects; Future Fuels at the Highway Project; CSE-listed Mustang Energy at the 914W Project; and TSX-V listed Terra Clean Energy at the South Falcon East Project. In aggregate, Skyharbour has now signed earn-in option agreements with partners that total to potentially over $79 million in partner-funded exploration expenditures and over $52 million in cash and share payments coming into Skyharbour, assuming that these partner companies complete the earn-ins 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 favourable jurisdictions.
For more information, please visit: https://skyharbourltd.com/
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