Vancouver, BC, Aug. 22, 2023 (GLOBE NEWSWIRE) -- Skyharbour Resources Ltd. (TSX-V: SYH ) (OTCQ X : SYHBF ) (Frankfurt: SC1P ) (the “Company” or “Skyharbour”) announces that, pursuant to the joint venture agreement (“the Agreement”) made between the Company and Azincourt Energy Corp. (“Azincourt”) with relation to the East Preston Project (“the Property”), the parties have agreed that, in lieu of approximately CAD $543,000 exploration expenditures required to be made by the Company that were incurred in the 2022 exploration program, the Company shall pay $150,000 and issue 1,000,000 common shares (the “Shares”) to Azincourt (see news release dated February 17 ^th , 2021, for more information on the terms of the joint venture). Further, the Company elected not to participate in the 2023 exploration program with flow through funds being allocated primarily to its co-flagship Russell Lake Project, and thus the Company’s interest in the Property is reduced from fifteen percent (15%) to nine and half percent (9.5%) pursuant to the Agreement.

The Shares shall be subject to a statutory hold period, as required under applicable securities laws, and, in addition, 500,000 Shares shall be subject to voluntary hold period of eight (8) months from issuance and shall bear a restricted legend with these restrictions.

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 twenty-four projects, ten of which are drill-ready, covering over 518,000 hectares (over 1.2 million acres) 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 that returned drill results of up to 6.0% U ₃ O ₈ over 5.9 metres including 20.8% U ₃ O ₈ over 1.5 metres at a vertical depth of 265 metres. Adjacent to the Moore Uranium Project is Skyharbour’s recently optioned Russell Lake Uranium Project from Rio Tinto, which hosts historical high-grade uranium drill intercepts over a large property area with robust exploration upside potential. The Company is actively advancing these projects through exploration and drill programs.

Skyharbour has joint-ventures with industry-leader Orano Canada Inc. and Azincourt Energy at the Preston and East Preston Projects, respectively, whereby Orano and Azincourt earned majority interests in the projects through exploration expenditures, cash payments and share issuances. Skyharbour also has several active earn-in option partners including: ASX-listed Valor Resources at the Hook Lake Uranium Project; CSE-listed Basin Uranium Corp. at the Mann Lake Uranium Project; CSE-listed Medaro Mining Corp. at the Yurchison Project; Yellow Rocks Energy, a private Australian entity, at the Wallee and Usam Island projects; North Shore Energy Metals at the South Falcon Project; and TSX-V listed Tisdale Clean Energy at the South Falcon East Project which is host to the Fraser Lakes Zone B Uranium and Thorium Deposit.

Collectively, Skyharbour has now signed earn-in option agreements with partners that total to over $37 million in partner-funded exploration expenditures, over $28 million worth of shares being issued and over $19 million in cash payments coming into Skyharbour, assuming that these partner companies complete their entire earn-ins at the 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.

Skyharbour’s Uranium Project Map in the Athabasca Basin:
https://skyharbourltd.com/_resources/maps/SKY_SaskProject_Locator_V2A_20230727.jpg

To find out more about Skyharbour Resources Ltd. (TSX-V: SYH) visit the Company’s website at www.skyharbourltd.com .

SKYHARBOUR RESOURCES LTD.

“Jordan Trimble”

Jordan Trimble
President and CEO

For further information contact myself or:
Nicholas Coltura
Corporate Development and Communications
Skyharbour Resources Ltd.
Telephone: 604-558-5847
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: [email protected]

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

The securities offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor in any other jurisdiction.

This release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements, including the Private Placement. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, regulatory approvals, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.

Vancouver, BC, Aug. 21, 2023 (GLOBE NEWSWIRE) -- Skyharbour Resources Ltd. (TSX-V: SYH ) (OTCQ X : SYHBF ) (Frankfurt: SC1P ) (the “Company”) is pleased to announce it has received an aggregate CAD $1,647,800 from the exercise of share purchase warrants with a strike price at $0.22 since August 14 ^th , 2023. A total of 7,490,000 warrants have been exercised from the batch of warrants expiring August 18 ^th , 2023. The Company is well funded for future drilling at its co-flagship Russell Lake and Moore Lake Uranium Projects later this year and into the new year. Skyharbour has also continued to receive cash payments and share issuances from its various option partners as a part of its prospect generator business.

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 twenty-four projects, ten of which are drill-ready, covering over 518,000 hectares (over 1.2 million acres) 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 that returned drill results of up to 6.0% U ₃ O ₈ over 5.9 metres including 20.8% U ₃ O ₈ over 1.5 metres at a vertical depth of 265 metres. Adjacent to the Moore Uranium Project is Skyharbour’s recently optioned Russell Lake Uranium Project from Rio Tinto, which hosts historical high-grade uranium drill intercepts over a large property area with robust exploration upside potential. The Company is actively advancing these projects through exploration and drill programs.

Skyharbour has joint-ventures with industry-leader Orano Canada Inc. and Azincourt Energy at the Preston and East Preston Projects, respectively, whereby Orano and Azincourt earned majority interests in the projects through exploration expenditures, cash payments and share issuances. Skyharbour also has several active earn-in option partners including: ASX-listed Valor Resources at the Hook Lake Uranium Project; CSE-listed Basin Uranium Corp. at the Mann Lake Uranium Project; CSE-listed Medaro Mining Corp. at the Yurchison Project; Yellow Rocks Energy, a private Australian entity, at the Wallee and Usam Island projects; North Shore Energy Metals at the South Falcon Project; and TSX-V listed Tisdale Clean Energy at the South Falcon East Project which is host to the Fraser Lakes Zone B Uranium and Thorium Deposit.

Collectively, Skyharbour has now signed earn-in option agreements with partners that total to over $37 million in partner-funded exploration expenditures, over $28 million worth of shares being issued and over $19 million in cash payments coming into Skyharbour, assuming that these partner companies complete their entire earn-ins at the 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.

Skyharbour’s Uranium Project Map in the Athabasca Basin:
https://skyharbourltd.com/_resources/maps/SKY_SaskProject_Locator_V2A_20230727.jpg

To find out more about Skyharbour Resources Ltd. (TSX-V: SYH) visit the Company’s website at www.skyharbourltd.com .
SKYHARBOUR RESOURCES LTD.

“Jordan Trimble”

Jordan Trimble
President and CEO

For further information contact myself or:
Nicholas Coltura
Corporate Development and Communications
Skyharbour Resources Ltd.
Telephone: 604-558-5847
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: [email protected]

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

The securities offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor in any other jurisdiction.

This release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements, including the Private Placement. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, regulatory approvals, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.

Vancouver, BC, Aug. 17, 2023 (GLOBE NEWSWIRE) -- Skyharbour Resources Ltd.’s (TSX-V: SYH ) (OTCQ X : SYHBF ) (Frankfurt: SC1P ) (the “Company”) partner company Azincourt Energy (“Azincourt”) is pleased to announce that the sample analysis have been received from the 2023 exploration program at the East Preston uranium project (the “Project”) in the Athabasca Basin, Saskatchewan, Canada. Azincourt is the operator and majority interest holder in the Project with Skyharbour holding a minority interest.

Project Location – Western Athabasca Basin, Saskatchewan, Canada:
https://www.skyharbourlt d.com/_resources/maps/Sky_EastPreston_20211209.jpg

Drilling for the 2023 program at the East Preston Project consisted of a total of 3,066 metres completed in 13 drill holes. Drilling was focused on the G, K, H, and Q zones with a drilling update reported in a news release dated March 28 ^th , 2023.

Winter 2023 Diamond Drilling Program Highlights :

A total of 687 samples were collected throughout the program and sent to the Geoanalytical Laboratory at the Saskatchewan Research Council in Saskatoon, Saskatchewan for analysis. There was a delay with the analytical results and after a review of the initial data received from the lab, there were significant quality control issues noted within the results. As part of the quality control process, standards with a known concentration of uranium are inserted in the sample batches. These samples are analyzed to confirm that the results for that batch of samples are within an acceptable range based on the results of the standards. The issues noticed manifested as anomalous results occurring in the samples analyzed immediately following several of the standards. As a result, these samples were reanalyzed. Once the issue was identified, confirmed, and resolved, Azincourt requested that all samples of the affected batches be run through the process to ensure a complete consistent data set.

Analysis of the results shows uranium enrichment within the previously identified clay alteration zones along the K, and H- target zones. Uranium enrichment is identified as uranium (U) values and a uranium/thorium ratio (U/Th) above what would normally be expected in the given rock type or area.

Drilling on the northeast trending G-Zone identified extensive hydrothermal alteration and evidence of east-west cross-cutting structures along the southern portion of the zone. The primary rock types in the alteration zone are granodiorite and diorite gneiss with average expected values of 2-3 ppm U and U/Th ratios of 0.25-0.3. Elevated radioactivity was intersected in holes EP0045 and EP0047, and EP0047 returned elevated U and U/Th values. While this is a good sign, the alteration zone does not display the upgraded clay alteration halo seen at Zones K and H.

Illite and kaolinite are both indicators of hydrothermal alteration typically found within alteration halos of unconformity uranium deposits. Dravite is a boron-rich clay which is typically found within a larger clay package in close proximity to uranium mineralization in the system. Both illite and dravite have been identified as being significant vectors for the recent Patterson Lake North discovery by F3 Uranium approximately 60 km to the northwest of the East Preston project.

2023 Target A reas and Drill Hole Locations at the East Preston Uranium Project :
https://skyharbourltd.com/_resources/images/2023-Target-areas-and-Drill-Hole-Locations.png

On the north end of the K-Zone, drilling intersected extensive structure and hydrothermal clay alteration within the structural zone. Samples of clay alteration were analyzed by Short Wavelength Infrared Reflectance (SWIR, sometimes referred to as “PIMA”) to confirm the clay species. All three holes contained illite and kaolinite clay species, with hole EP0049 also having dravite identified within the structural zone. Hole EP0049 also returned elevated Thorium.

The H-Zone covers a change in orientation of the structural and conductive trend from north-south to southwest trending. Drilling intersected an intense graphitic fault zone with hydrothermal alteration. The illite clay alteration halo identified in the K-Zone extends south into the H-Zone as far south as EP0053. Hole EP0053 intersected elevated radioactivity and both kaolinite and dravite are also present within the illite alteration package. Dravite was also identified in hole EP0052. Rocks in this zone are expected to return values of 0.5-1.5 ppm U and U/Th ratios of 0.25-0.5. Holes EP0052 and EP0056 returned the best analytical results of the program with U/Th ratios of 1.0 and 1.8 respectively, and uranium in the 5-6 ppm range.

Azincourt considers the drilling results to date to be significant, as major uranium discoveries in the Athabasca Basin such as McArthur River, Key Lake, and Millennium were primarily the result of drill testing of strong alteration zones related to conductor features. Identifying and upgrading the strong alteration zones is a significant step forward in identifying the key areas along the conductor trends where more attention is required.

“The alteration we are seeing in the K and H-Zones is very encouraging,” said Azincourt’s VP, Exploration, Trevor Perkins. “The associated elevated uranium present is also very promising and shows that we are vectoring towards something in this area. The identification of dravite and illite clays with the elevated uranium emphasizes that we are on the right track and getting close. This target area will be a top priority moving forward and based on results we may see the north-northwest trending structures taking on more significance for targeting on this trend and others on the property” continued Mr. Perkins.

“We’re encouraged by the appropriate clay content in the alteration zones. If you’re hunting for a uranium deposit, this is what you need to see,” said Azincourt’s CEO, Alex Klenman. “The elevated uranium values from the last two drill programs, combined with the confirmed presence of relevant clays and strong U/Th ratios, within these systems, are substantial developments in the progression of the project and should not be underestimated. Although we’d certainly welcome encountering significant mineralization we continue to be well within a practical discovery timeline. We are eager to continue moving the project forward and will begin formulating the next phase of drilling at East Preston. In the meantime, we’re active at the Big Hill lithium project in Newfoundland and are awaiting results of the current work program. A follow up program is in the planning stage and will be announced shortly,” continued Mr. Klenman.

East Preston Targets:

The primary target area on the East Preston Project is the conductive corridors from the A-Zone through to the G-Zone (A-G Trend) and the K-Zone through to the H and Q-Zones (K-H-Q Trend). The selection of these trends is based on a compilation of results from the 2018 through 2020 ground-based EM and gravity surveys, property wide VTEM and magnetic surveys, and the 2019 through 2022 drill programs, the 2020 HLEM survey indicates multiple prospective conductors and structural complexity along these corridors.

Road A ccess to East Preston Uranium Project :
https://skyharbourltd.com/_resources/images/Road-access-to-the-East-Preston-Uranium-Project.png

Drilling has confirmed that identified geophysical conductors comprise structurally disrupted zones that are host to accumulations of graphite, sulphides, and carbonates. Hydrothermal alteration, anomalous radioactivity, and elevated uranium have been demonstrated to exist within these structurally disrupted conductor zones.

Permitting and Community Engagement :

The permitting process is underway for the 2024-2026 drill programs. Azincourt Energy continues to be engaged in regular meetings with the Clearwater River Dene Nation and other rights holders to ensure that concerns of the local communities are addressed with regards to the East Preston project. A more in-depth engagement process will also be commencing within the next couple of months with the La Loche Metis Local #39. Azincourt looks forward to a continued close working relationship with CRDN and other rights holders to ensure that any potential impacts and concerns are addressed and that the communities can benefit from activities in the area through support of local business, employment opportunities, and sponsorship of select community programs and initiatives. Local businesses are engaged to provide services and supplies and members of the Clearwater River Dene Nation and surrounding communities have been directly employed on site or to provide support and services to keep the camp and programs running.

About East Preston:

Skyharbour and Dixie Gold entered into an Option Agreement (the “Agreement”) with Azincourt whereby Azincourt had an earn-in option to acquire a 70% working interest in a portion of the Preston Uranium Project known as the East Preston Property. Azincourt has now earned a majority interest in the project by completing CAD $2.5 million in staged exploration expenditures and making a total of CAD $1 million in cash payments as well as issuing shares of Azincourt divided evenly between Skyharbour and Dixie Gold. Skyharbour retains a minority interest in the East Preston Project.

Three prospective conductive, low magnetic signature corridors have been discovered on the property. The three distinct corridors have a total strike length of over 25 km, each with multiple EM conductor trends identified. Ground prospecting and sampling work completed to date has identified outcrop, soil, biogeochemical and radon anomalies, which are key pathfinder elements for unconformity uranium deposit discovery.

The East Preston Project has multiple long linear conductors with flexural changes in orientation and offset breaks in the vicinity of interpreted fault lineaments – classic targets for basement-hosted unconformity uranium deposits. These are not just simple basement conductors; they are clearly upgraded/enhanced prospectivity targets because of the structural complexity. The targets are basement-hosted unconformity related uranium deposits similar to NexGen’s Arrow deposit and Cameco’s Eagle Point mine. East Preston is near the southern edge of the western Athabasca Basin, where targets are in a near surface environment without Athabasca sandstone cover; therefore, they are relatively shallow targets but can have great depth extent when discovered. The project ground is located along a parallel conductive trend between the PLS-Arrow trend and Cameco’s Centennial deposit (Virgin River-Dufferin Lake trend).

Qualified Person:

The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed by C. Trevor Perkins, P.Geo., Vice President, Exploration of Azincourt Energy, and a Qualified Person as defined by National Instrument 43-101.

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 twenty-four projects, ten of which are drill-ready, covering over 518,000 hectares (over 1.2 million acres) 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 that returned drill results of up to 6.0% U ₃ O ₈ over 5.9 metres including 20.8% U ₃ O ₈ over 1.5 metres at a vertical depth of 265 metres. Adjacent to the Moore Uranium Project is Skyharbour’s recently optioned Russell Lake Uranium Project from Rio Tinto, which hosts historical high-grade uranium drill intercepts over a large property area with robust exploration upside potential. The Company is actively advancing these projects through exploration and drill programs.

Skyharbour has joint-ventures with industry-leader Orano Canada Inc. and Azincourt Energy at the Preston and East Preston Projects, respectively, whereby Orano and Azincourt earned majority interests in the projects through exploration expenditures, cash payments and share issuances. Skyharbour also has several active earn-in option partners including: ASX-listed Valor Resources at the Hook Lake Uranium Project; CSE-listed Basin Uranium Corp. at the Mann Lake Uranium Project; CSE-listed Medaro Mining Corp. at the Yurchison Project; Yellow Rocks Energy, a private Australian entity, at the Wallee and Usam Island projects; North Shore Energy Metals at the South Falcon Project; and TSX-V listed Tisdale Clean Energy at the South Falcon East Project which is host to the Fraser Lakes Zone B Uranium and Thorium Deposit.

Collectively, Skyharbour has now signed earn-in option agreements with partners that total to over $37 million in partner-funded exploration expenditures, over $28 million worth of shares being issued and over $19 million in cash payments coming into Skyharbour, assuming that these partner companies complete their entire earn-ins at the 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.

Skyharbour’s Uranium Project Map in the Athabasca Basin:
https://skyharbourltd.com/_resources/maps/SKY_SaskProject_Locator_V2A_20230727.jpg

To find out more about Skyharbour Resources Ltd. (TSX-V: SYH) visit the Company’s website at www.skyharbourltd.com .

SKYHARBOUR RESOURCES LTD.

“Jordan Trimble”

Jordan Trimble
President and CEO

For further information contact myself or:
Nicholas Coltura
Corporate Development and Communications
Skyharbour Resources Ltd.
Telephone: 604-558-5847
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: [email protected]

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

The securities offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor in any other jurisdiction.

This release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements, including the Private Placement. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, regulatory approvals, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.

Vancouver, BC , Aug. 01, 2023 (GLOBE NEWSWIRE) -- Skyharbour Resources Ltd. (TSX-V: SYH ) (OTCQ X : SYHBF ) (Frankfurt: SC1P ) (the “Company”) is pleased to announce that it has acquired by staking seven new prospective uranium exploration claims in Northern Saskatchewan, increasing Skyharbour’s total land package that it has ownership interest in to 518,302 ha (1,215,941 acres) across 24 projects. These 100% owned claims add an additional 13,945 ha to Skyharbour’s existing holdings in and around the Athabasca Basin, which is host to the highest-grade uranium deposits in the world and is consistently ranked as a top mining jurisdiction by the Fraser Institute. As the Company remains focused on its co-flagship Russell Lake and Moore projects, these new properties will become a part of Skyharbour’s prospect generator business as the Company will seek strategic partners to advance these assets.

Skyharbour’s New Uranium Project Portfolio Map:
https://skyharbourltd.com/_resources/maps/SKY_SaskProject_Locator_V2B_20230727.jpg

List of New Claims :

• CBX Project – additional five new contiguous claims totalling 6,804 ha linking the Company’s former CBX and Snow projects
• Karin Project – one additional claim totalling 5,882 ha
• 914W Project – new project totalling 1,260 ha
  
  

Jordan Trimble, President and CEO of Skyharbour Resources, states “We continue to add to our dominant uranium project portfolio in the Athabasca Basin with this recent staking while advancing our core projects through ongoing drilling and exploration. These new mineral claims bolster existing properties and provide additional ground to option or joint-venture out to new partner companies as a part of our prospect generator business.”

Summary of Recently Staked Properties:

CBX Project:

The CBX property has been recently expanded through staking to include five additional claims adjoining the previously staked CBX and Snow properties, which have been combined to include a total of seven claims covering 8,777 ha. The new claims lie approximately 6.5 km to 25 km north to northeast of the Eagle Point uranium mine and cover the northern shore of Wollaston Lake including parts of Cunning Bay. Outcrop exposure on the property is poor, but historical mapping and drilling shows that the newly expanded CBX project is underlain by a mixture of Wollaston Supergroup metasedimentary gneisses, Hudsonian intrusives, and Archean felsic gneisses of the Western Wollaston Domain. Similar lithologies host uranium mineralization at the Rabbit Lake operation, including the Eagle Point deposit, and other uranium deposits in the Athabasca Basin and surrounding regions.

CBX Project Map:
https://skyharbourltd.com/_resources/maps/Sky_CBXShoe20230727_.jpg

Like the previously staked CBX claims, these new claims have seen a variety of historical exploration conducted mainly between 1968-1981, including airborne and ground EM, magnetics, and radiometrics surveys, marine seismic surveys, prospecting, geological mapping, and geochemical, with some additional work in 1993. There was also a limited amount of historic drilling in 1979-1980, including drill hole CBA-1 on the Cunning West Grid in the southeastern end of the property, and two diamond drill holes, WN-14 and WN-15, drilled in 1980 in the north-central part of the property on the Ross Channel Grid. All three drillholes were shallow (<100 m depth) and successfully intersected variably chlorite-altered graphitic biotite gneiss, with local pegmatites and graphitic fault gouges, however no geochemical samples were taken from these drill holes. These new claims have seen no modern exploration, although drilling and other modern exploration have been done on adjacent properties. The CBX property is prospective for unconformity-related, basement-hosted uranium mineralization, pegmatite- and granite-hosted uranium and REEs, and for molybdenite, as sedimentary-hosted molybdenite and pyrite were identified in fractures in a quartzite outcrop on the property (SMDI 4890).

914 W Project :

The 914W project consists of one claim covering 1,260 ha approximately 48 km southwest of Cameco’s Key Lake Operation. Highway 914 runs through the western edge of the project, providing excellent access for exploration. Historical geological mapping of the property and surrounding area has shown that the project is predominantly underlain by prospective Wollaston Supergroup pelitic and psammitic to arkosic gneisses of the Western Wollaston Domain, which host significant unconformity-related uranium mineralization further to the north in the Athabasca Basin as well as pegmatite-hosted uranium mineralization elsewhere in the Wollaston Domain.

914W, 914, 914N, and Elevator Projects Map:
https://skyharbourltd.com/_resources/maps/Sky_914_Elevator_20230727.jpg

Despite the project’s proximity to Highway 914 and prospective geology, the project has seen limited exploration work. The earliest work on the 914W property included airborne EM and magnetic surveys and ground geological reconnaissance in 1968-1970, lake water and sediment sampling in 1976, ground VLF-EM, magnetic, and radiometric surveys, geological mapping, trenching, as well as sampling on the project and surrounding areas. Immediately to the north of the 914W property, prospecting led to the discovery of the Scurry Rainbow Zone E (SMDI1961) and the Don Lake Trenches (SMDI 1983), where up to 1,288 ppm U was encountered in drill hole ML-1 (SMDI1961) in a pyroxene-rich unit, and surface prospecting revealed up to 0.64% U ₃ O ₈ in a trench at Don Lake Zone E (SMDI 1983). More recently, the project has seen airborne geophysical coverage by helicopter-borne VTEM (southern half) in 2005 and Tempest TDEM (northern half) in 2007, with prospecting, geological mapping, rock/sediment sampling and lake sediment sampling occurring on the project and surrounding areas in 2005-2007. However, much of the most recent exploration work was completed on areas outside of the extents of the 914W project and the project remains underexplored and prospective for unconformity-related and pegmatite-hosted uranium and REE’s.

Karin Project:

One additional claim was added to Skyharbour’s Karin Project during this latest round of staking, extending the project to cover six claims totalling 24,265 ha, approximately 21 km to 33 km east of Highway 914 and 20 km southeast of Cameco’s Key Lake operation. This new claim, totalling 5,882 ha, is adjacent to Skyharbour’s Foster project. Like the remainder of the Karin project, it is underlain by Wollaston Group metasedimentary gneisses, mostly psammitic to meta-arkosic in composition but with localized prospective pelitic to psammopelitic gneisses in fold noses, and it is prospective for both unconformity-related and pegmatite-hosted uranium mineralization.

Karin Project Map:
https://skyharbourltd.com/_resources/maps/Sky_Karin_20230727.jpg

The Karin project, including the new claim, had seen some exploration in the late 1960’s to early 1980’s, including airborne EM, magnetics and radiometrics, radon surveys, prospecting, geological mapping, lake water and sediment sampling, as well as a limited amount of diamond drilling. Two drill holes were attempted on the new claim added to the Karin project, however both attempts were lost during casing. Five drill holes that were successfully drilled on the remainder of the Karin project intersected Wollaston Supergroup meta-arkose and semipelitic to pelitic gneisses, amphibolite and pegmatite to granodiorite, along with localized hematite, chlorite, epidote, and/or goethite alteration. One of these drillholes, 78-1, intersected a weakly radioactive pegmatite which returned 0.025% U3O8 over 0.45 m at a depth of 72.85 m (AF 74H03-0036). The drilling on the Karin project was targeting some of the stronger EM conductors and radon anomalies on the property, however several other historical EM anomalies did not receive follow-up work. Given that this work took place prior to the development of modern geophysics and uranium exploration models, it is likely that additional prospective targets remain untested on the Karin project. The only recent exploration on the project consisted of limited prospecting in 2008, which led to the discovery of a pegmatite outcrop that returned 181 ppm U, 205 ppm Nb, and 39 ppm Ta (SMDI 5179). The Karin project has otherwise been unexplored since the 1980’s and remains prospective for both intrusive-type and unconformity-related uranium deposits and intrusive-related REE’s.

Marketing Agreement with Outside the Box Capital :

Skyharbour also announced that it has entered into a six month marketing and consulting contract with Toronto-based marketing firm Outside The Box Capital Inc. (“OTBC”). OTBC specializes in various social media platforms and digital marketing strategies, and will be able to facilitate greater awareness and widespread dissemination of the Company's news. In connection with the agreement set to commence in August, 2023, and run for six months, the Company will pay Outside The Box Capital Inc. a total cash fee of CAD $100,000 plus applicable taxes. Outside The Box Capital Inc. owns no securities of the Company as of the date hereof and is arm’s length to the Company. The engagement of OTBC remains subject to TSX Venture Exchange approval.

Qualified Person:

The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed and approved by David Billard, P.Geo., a Consulting Geologist for Skyharbour as well as a Qualified Person.

*SMDI refers to the Saskatchewan Mineral Deposits Index and “AF” refers to Saskatchewan Mineral Assessment File.

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 twenty-four projects, ten of which are drill-ready, covering over 518,000 hectares (over 1.2 million acres) 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 that returned drill results of up to 6.0% U ₃ O ₈ over 5.9 metres including 20.8% U ₃ O ₈ over 1.5 metres at a vertical depth of 265 metres. Adjacent to the Moore Uranium Project is Skyharbour’s recently optioned Russell Lake Uranium Project from Rio Tinto, which hosts historical high-grade uranium drill intercepts over a large property area with robust exploration upside potential. The Company is actively advancing these projects through exploration and drill programs.

Skyharbour has joint-ventures with industry-leader Orano Canada Inc. and Azincourt Energy at the Preston and East Preston Projects, respectively, whereby Orano and Azincourt earned majority interests in the projects through exploration expenditures, cash payments and share issuances. Skyharbour also has several active earn-in option partners including: ASX-listed Valor Resources at the Hook Lake Uranium Project; CSE-listed Basin Uranium Corp. at the Mann Lake Uranium Project; CSE-listed Medaro Mining Corp. at the Yurchison Project; Yellow Rocks Energy, a private Australian entity, at the Wallee and Usam Island projects; North Shore Energy Metals at the South Falcon Project; and TSX-V listed Tisdale Clean Energy at the South Falcon East Project which is host to the Fraser Lakes Zone B Uranium and Thorium Deposit.

Collectively, Skyharbour has now signed earn-in option agreements with partners that total to over $37 million in partner-funded exploration expenditures, over $28 million worth of shares being issued and over $19 million in cash payments coming into Skyharbour, assuming that these partner companies complete their entire earn-ins at the 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.

Skyharbour’s Uranium Project Map in the Athabasca Basin:
https://skyharbourltd.com/_resources/maps/SKY_SaskProject_Locator_V2A_20230727.jpg

To find out more about Skyharbour Resources Ltd. (TSX-V: SYH) visit the Company’s website at www.skyharbourltd.com .

SKYHARBOUR RESOURCES LTD.

“Jordan Trimble”

Jordan Trimble
President and CEO

For further information contact myself or:
Nicholas Coltura
Corporate Development and Communications
Skyharbour Resources Ltd.
Telephone: 604-558-5847
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: [email protected]

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

The securities offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor in any other jurisdiction.

This release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements, including the Private Placement. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, regulatory approvals, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.

Special Sponsor: Government of Québec Premier Sponsor: Laurentian Bank Securities
Critical Metals Day Platinum Sponsor: National Bank Financial Markets
Gold Sponsors: BMO, IBK Capital, O3 Mining, Troilus Gold, Maple Gold Mines, JDS Group of Companies
Silver Sponsors: PearTree Financial, Stifel GMP, TMX Group, Invest Yukon, Mi3 Financial ESG Sponsor: Socialsuite
Copper Sponsors: Cassels, Crux Investor, CDPQ, Amex Exploration, Out of the Box Capital, Amvest Capital, INFOR Financial, Global Business Reports, Generation IACP, Brooks & Nelson, Alliance Advisors, VRIFY Technology
Partners: BTV, Kitco, Mining Network, The Northern Miner, Newsfile, Resource World, LFG Equities
Simply Better Marketing, Quebec City Business Destination, EBL Consultants, The Prospector

Toronto, Ontario--(Newsfile Corp. - June 6, 2023) - THE Mining Investment Event of the North ("THE Event"), Québec City, June 19-21, 2023 is pleased to announce the launch of THE Global Private Streaming Platform dedicated to virtual attendance – limited availability through registration only.

Once you have registered you will be able to log on daily with your unique code to THE Event as a virtual global audience member and view live presentations from C-suite members of participating companies, and the world's foremost thought leaders, panelists and keynotes delivered at THE Event from 8:00 am ET to 5:00 pm ET, Monday June 19-Wednesday June 21, 2023.

If you wish to view THE Event in real time as a virtual global audience member, please register here:
https://www.bigmarker.com/series/the-mining-investment-event-/series_summit?utm_bmcr_source=NR

Note: your unique/dedicated registration link will be sent to you – this code is un-shareable and is unique to you as a registered THE Event virtual global audience member.

Information regarding registration, agendas, sponsors, initiatives and speakers for THE Event can be found here: https://vidconferences.com/conferences-events/in-person/tier-1-mining-conference/

THE Mining Investment Event of the North is Canada's only Tier I Global Mining Investment Conference, hosted annually in Quebec City, Canada. THE Event is invitation only and is independently sponsored by the Government of Quebec, and financial and mining communities at large. It is designed to specifically facilitate privately arranged meetings between mining companies, international investors, and various mining government authorities. THE Event is committed to promoting sustainability in the mining industry through education and innovation through unique Student Sponsorships, She-Co Initiatives, highlighting ESG and equality issues and by providing a platform for some of most influential thought leaders in the sector. The agenda, brochure, participating companies, speakers & panelists, initiatives and registration applications for issuers and investors may be found here: https://vidconferences.com/conferences-events/in-person/tier-1-mining-conference/

Interested parties please contact Jennifer Choi, [email protected]

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IR.INC & VID Media Incorporated
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Jennifer Choi
Vice President, Operations
IR.INC & VID Media Incorporated
[email protected]

Brhett Booker
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IR.INC & VID Media Incorporated
[email protected]

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Vancouver, BC, May 31, 2023 (GLOBE NEWSWIRE) -- Skyharbour Resources Ltd. (TSX-V: SYH ) (OTCQ X : SYHBF ) (Frankfurt: SC1P ) (the “Company”) is pleased to announce that further to its news release dated April 27 ^th , 2023, the Company has completed its acquisition of 100% of the South Dufferin Uranium Project (“South Dufferin” or the “Project”) from Denison Mines Corp. (“Denison”) through share and cash payments. The South Dufferin Project comprises 12,282 hectares (30,349 acres) over nine claims in the Athabasca Basin, which is host to the highest-grade uranium deposits in the world and is consistently ranked as a top mining jurisdiction by the Fraser Institute.

South Dufferin Property Map:
https://skyharbourltd.com/_resources/im a ges/South-Dufferin-Property-Map.jpg

With the recent acquisition of South Dufferin, Skyharbour’s total land package that it has ownership interest in is now 504,356 hectares (1,246,290 acres), across twenty-four properties, representing one of the largest project portfolios in the region. As the Company remains focused at its ongoing 10,000m drill program at the Russell Lake project, South Dufferin will become a part of Skyharbour’s prospect generator business as the Company will seek strategic partners to advance this asset.

Skyharbour’s New Uranium Project Portfolio Map:
https://www.skyharbourltd.com/_resources/maps/ S KY_SaskProject_Locator_V2C.jpg

Summary of South Dufferin Project :

The South Dufferin project totals 12,282 hectares in eight claims and is located immediately south of the southern margin of the Athabasca Basin in northern Saskatchewan. The property covers the southern extension of the Virgin River Shear Zone, which hosts known high-grade uranium mineralization at Cameco Corp.'s Dufferin Lake zone approximately 13 kilometres to the north (highlight drill results of 1.73% U ₃ O ₈ over 6.5 metres) and Cameco Corp.'s Centennial deposit approximately 25 kilometres to the north (includes drill intersections up to 8.78% U ₃ O ₈ over 33.9 metres).

South Dufferin Property Map:
https://skyharbourltd.com/_resources/imag e s/South-Dufferin-Property-Map.jpg

Historical exploration work on the Project consists of airborne EM, magnetic, and radiometric surveys, lake water and sediment sampling, prospecting and ground-truthing of airborne anomalies, geological mapping, and diamond drilling. Some of the historical drill holes intersected elevated uranium with locally anomalous base metal and boron concentrations as well as significant clay alteration.

Exploration potential exists for basement-hosted uranium mineralization associated with the Dufferin Lake fault and parallel faults within the Virgin Lake Shear zone. With numerous mineralized showings to the north of the Project, exploration efforts at South Dufferin have advanced the project to a discovery-ready state. Significant exploration potential exists for basement-hosted uranium mineralization associated with the Dufferin Lake fault, which has an apparent offset of >200 m, and numerous other parallel faults within the Virgin River Shear zone. The project is drill ready with numerous prospective targets warranting follow up work.

South Dufferin Target Map:
https://skyharbourltd.com/_resources/images/South-Dufferin-Target-Map.png

The claims are in good standing for several years and there are no underlying royalties on the property except for a 2% NSR on one of the claims. Skyharbour also owns a 922 hectare claim adjacent to South Dufferin bringing the cumulative total to 13,204 hectares (32,628 acres) over ten claims.

Terms of the Agreement:

Skyharbour acquired a 100% interest in the South Dufferin project in consideration for the issuance of 6,000,000 shares, 1,000,000 non-transferable share purchase warrants (the "Warrant"), and a cash payment totaling CAD $125,000. Each Warrant will entitle Denison to purchase one common share of Skyharbour for a period of two years at a price of $0.60 per share. No finders’ fees were paid in relation to the acquisition of the South Dufferin Property. The transaction constitutes a Related Party Transaction in accordance with MI 61-101 due to a common director on each of the Company and Denison’s Board. The Company is relying on the exemption from the formal valuation requirement contained in section 5.5 and the minority shareholder approval requirement contained in section 5.7 of MI 61-101.

Qualified Person:

The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed and approved by David Billard, P.Geo., a Consulting Geologist for Skyharbour as well as a Qualified Person.

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 twenty-four projects, ten of which are drill-ready, covering over 504,356 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 that returned drill results of up to 6.0% U ₃ O ₈ over 5.9 metres including 20.8% U ₃ O ₈ over 1.5 metres at a vertical depth of 265 metres. Adjacent to the Moore Uranium Project is Skyharbour’s recently optioned Russell Lake Uranium Project from Rio Tinto, which hosts historical high-grade uranium drill intercepts over a large property area with robust exploration upside potential. The Company is actively advancing these projects through exploration and drill programs.

Skyharbour has joint-ventures with industry-leader Orano Canada Inc. and Azincourt Energy at the Preston and East Preston Projects, respectively, whereby Orano and Azincourt earned majority interests in the projects through exploration expenditures, cash payments and share issuances. Skyharbour also has several active earn-in option partners including: ASX-listed Valor Resources at the Hook Lake Uranium Project; CSE-listed Basin Uranium Corp. at the Mann Lake Uranium Project; CSE-listed Medaro Mining Corp. at the Yurchison Project; Yellow Rocks Energy, a private Australian entity, at the Wallee and Usam Island projects; North Shore Energy Metals at the South Falcon Project; and TSX-V listed Tisdale Clean Energy at the South Falcon East Project which is host to the Fraser Lakes Zone B Uranium and Thorium Deposit.

Collectively, Skyharbour has now signed earn-in option agreements with partners that total to over $37 million in partner-funded exploration expenditures, over $28 million worth of shares being issued and over $19 million in cash payments coming into Skyharbour, assuming that these partner companies complete their entire earn-ins at the 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.

Skyharbour’s Uranium Project Map in the Athabasca Basin:
https://www.skyharbourltd.com/_resources/maps/SKY_SaskProject_Locator_20230320_V2A.jpg

To find out more about Skyharbour Resources Ltd. (TSX-V: SYH) visit the Company’s website at www.skyharbourltd.com .

SKYHARBOUR RESOURCES LTD.

“Jordan Trimble”

Jordan Trimble
President and CEO

For further information contact myself or:
Nicholas Coltura
Corporate Development and Communications
Skyharbour Resources Ltd.
Telephone: 604-558-5847
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: [email protected]

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

The securities offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor in any other jurisdiction.

This release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements, including the Private Placement. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, regulatory approvals, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.

Vancouver, BC, May 30, 2023 (GLOBE NEWSWIRE) -- Skyharbour Resources Ltd. (TSX-V: SYH ) (OTCQ X : SYHBF ) (Frankfurt: SC1P ) (“Skyharbour” or the “Company”), is pleased to announce that it has entered into an option agreement (the “Agreement”) with North Shore Energy Metals Ltd. (“North Shore” or the “Optionee”) which provides North Shore an earn-in option to acquire an initial 80% interest and up to a 100% interest in the South Falcon Property located in Saskatchewan, Canada (the “Property”). The Property contains eleven (11) mineral claims, comprising approximately 42,908 hectares. The Agreement provides North Shore an opportunity to earn an initial 80% interest in the claims over a three year period by fulfilling combined cash, share issuance and exploration expenditure commitments of CAD $5.3 million, with an option to purchase the remaining 20% for an additional CAD $10 million in cash and shares.

Location Map of South Falcon Project:
https://skyharbourltd.com/_resources/maps/Sky_FalconSouth20221024.jpg

Jordan Trimble, President and CEO of Skyharbour, stated: “We are thrilled to be working with the North Shore team as they advance the South Falcon Project going forward. We continue to execute on our strategy by adding value to our uranium project base in the Athabasca Basin through strategic partnerships and prospect generation, as well as focused mineral exploration at our co-flagship Russell and Moore Projects. News will be forthcoming on exploration plans at South Falcon and North Shore is well positioned to unlock value at the Project with a strong management and technical team.”

South Falcon Uranium Projec t :

The South Falcon Property contains eleven mineral claims comprising approximately 42,908 hectares approximately 50 km east of the Key Lake mine. Nine of the claims are from the original South Falcon Point (previously Way Lake) Uranium Project and the remaining two claims are from Skyharbour’s Foster River Project. Historical uranium mineralization discovered at South Falcon is shallow and is hosted in several geological settings including classic Athabasca-style basement mineralization associated with well-developed EM conductors. At the EWA target, up to 0.492% U ₃ O ₈ and 1,300 ppm lead was encountered in outcrop grab samples (Sask. Mineral Deposits Index [SMDI] 5038). Historical grab sampling at Knob Lake (SMDI 1014) also encountered up to 0.01% U ₃ O ₈ in an outcrop of pegmatite, while anomalous nickel, copper, and molybdenum were found in historical grab samples from the Fraser North target area (SMDI’s 1125 and 1126).

A well-defined northeast-trending, locally folded, electromagnetic conductor system runs throughout the Property, which was defined by airborne and ground geophysical surveys by JNR Resources (“JNR”) in the 2000’s. In 2008 JNR conducted a drill campaign at Way Lake. Of the 47 holes drilled that year, 28 holes (totaling 7,348 metres) were drilled on the South Falcon Uranium Property at the Walker (14 holes), Walker South (7 holes), and EWA target areas (6 holes). At the Walker and South Walker targets, which lie along the aforementioned EM conductor system, structurally disrupted and variably altered metasediments (including graphitic pelitic gneisses) with anomalous boron, copper, molybdenum, nickel, cobalt, arsenic, and vanadium were encountered in several drill holes. During this same drill campaign, the Fraser Lakes Zone B uranium deposit was discovered approximately four kilometres east of the Walker South target on a refolded extension of the EM conductor system. At the EWA target, which lies along a separate northeast-trending EM conductor, anomalous uranium, boron, lead, and molybdenum were encountered in structurally disrupted pegmatites; the best result was 0.235% U ₃ O ₈ over 0.5 m (within a 3.5 m interval of 0.113% U ₃ O ₈ ) in hole WYL-08-501 (Sask. Mineral Assessment File 74H02-0045).

Furthermore, in 2022, Skyharbour completed a FALCON® airborne gravity gradiometer and magnetic survey over nine of the eleven claims at the South Falcon Property. This new geophysical data will assist North Shore in prioritizing areas along the EM conductor system for drilling. Approximately 28 kilometres of the EM conductor system remain untested on the South Falcon Property. North Shore’s initial focus will be on the two claims formerly part of the Foster Project (geophysics), and on the southeastern end of the EM conductor system at Knob Lake (prospecting and/or drilling), which shows similarities to the Fraser Lakes Zone B deposit approximately 6 km to the northeast and several other high-priority targets elsewhere along the main EM conductor system.

Significant potential exists on the project for basement-hosted, unconformity-related uranium deposits like those further to the north in the Wollaston Domain (i.e. Eagle Point, Rabbit Lake, Key Lake and others), as well as for pegmatite/granite-hosted (i.e. alaskite-type) U-Th-REE mineralization like at the Fraser Lakes Zone B deposit on Skyharbour’s adjacent South Falcon East Property, currently under option to Tisdale Clean Energy.

The Option Agreement:

Pursuant to the Agreement, North Shore may acquire an initial 80% interest in the Property by (i) issuing common shares of North Shore (“Shares”) having an aggregate value of CAD $1,225,000; (ii) making aggregate cash payments of CAD $525,000; and (iii) incurring an aggregate of CAD $3,550,000 in exploration expenditures on the Property over a three-year period.

Schedule to earn an initial 80% interest:

(1) Closing which will be on the date of the closing of North Shore’s qualifying transaction.
(2) $25,000 on signing the Agreement and $25,000 due at Closing.
(3) At a price of $0.30 per Share.
(4) Cash or shares at North Shore’s option at a price per Share using the five (5) VWAP at the time of issuance, subject the minimum pricing rules of the TSX Venture Exchange.

Once North Shore has earned an initial 80% interest in the Property, North Shore may acquire the remaining 20% interest in the Property within 90 business days by (i) issuing Shares having a value of CAD $5,000,000, and (ii) making a cash payment of CAD $5,000,000 to Skyharbour. If North Shore does not elect to acquire the remaining 20% interest, a joint venture will be formed with Skyharbour holding a 20% participating interest.

North Shore will be the operator of the exploration programs during the earn-in stage and for the joint venture if formed. Two claims totaling 10,673 hectares that form part of Skyharbour’s Foster River Property are subject to a one percent (1%) NSR royalty payable to Skyharbour. The remaining nine claims totaling 32,235 hectares that comprise Skyharbour’s South Falcon Point Property are subject to a two percent (2%) NSR royalty payable to Denison Mines Corp. (“Denison”) with North Shore having the right to purchase one percent of the royalty from Denison at anytime by paying $1 million.

All Shares will be subject to a four-month-and-one-day statutory hold period in accordance with applicable securities laws. No finders’ fees or commissions are owing by Skyharbour in connection with entering into the Agreement. Completion of the transactions contemplated by the Agreement, and the issuance of the Shares, remains subject to the approval of the TSX Venture Exchange. The obligations of the Optionee under this Agreement are subject to and conditional upon the Optionee completing a Qualifying Transaction, as such term defined under the policies of the TSX Venture Exchange, and equity offering.

About North Shore Energy Metals Ltd :

North Shore is currently a private mineral exploration company focused on uranium exploration at the eastern margin of the Athabasca Basin through its Falcon property which will increase from 12,800 to 55,700 hectares with the addition of the claims subject to the Agreement, and the West Bear property located 90 kilometres to the northeast.

As announced on May 3 ^rd , 2023, Clover Leaf Capital Corp. (TSX-V: CLVR.P) (“Clover Leaf”) received conditional acceptance from the TSX Venture Exchange to close its acquisition of North Shore by way of a one for one share exchange agreement as described in the Clover Leaf’s press release dated December 23 ^rd , 2022. This transaction will constitute a qualifying transaction pursuant to the policies of the TSX Venture. It is a condition to the completion of the qualifying transaction that North Shore complete a concurrent equity offering prior to the closing date of the transaction for minimum gross proceeds of $5,000,000. Upon completion of the transaction the name of the combined company will be North Shore Uranium.

Qualified Person:

The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed and approved by David Billard, P.Geo., a Consulting Geologist for Skyharbour as well as a Qualified Person.

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 twenty-four projects, ten of which are drill-ready, covering over 504,356 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 that returned drill results of up to 6.0% U ₃ O ₈ over 5.9 metres including 20.8% U ₃ O ₈ over 1.5 metres at a vertical depth of 265 metres. Adjacent to the Moore Uranium Project is Skyharbour’s recently optioned Russell Lake Uranium Project from Rio Tinto, which hosts historical high-grade uranium drill intercepts over a large property area with robust exploration upside potential. The Company is actively advancing these projects through exploration and drill programs.

Skyharbour has joint-ventures with industry-leader Orano Canada Inc. and Azincourt Energy at the Preston and East Preston Projects, respectively, whereby Orano and Azincourt earned majority interests in the projects through exploration expenditures, cash payments and share issuances. Skyharbour also has several active earn-in option partners including: ASX-listed Valor Resources at the Hook Lake Uranium Project; CSE-listed Basin Uranium Corp. at the Mann Lake Uranium Project; CSE-listed Medaro Mining Corp. at the Yurchison Project; Yellow Rocks Energy, a private Australian entity, at the Wallee and Usam Island projects; North Shore Energy Metals at the South Falcon Project; and TSX-V listed Tisdale Clean Energy at the South Falcon East Project which is host to the Fraser Lakes Zone B Uranium and Thorium Deposit.

Collectively, Skyharbour has now signed earn-in option agreements with partners that total to over $37 million in partner-funded exploration expenditures, over $28 million worth of shares being issued and over $19 million in cash payments coming into Skyharbour, assuming that these partner companies complete their entire earn-ins at the 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.

Skyharbour’s Uranium Project Map in the Athabasca Basin:
https://www.skyharbourltd.com/_resources/maps/SKY_SaskProject_Locator_20230320_V2A.jpg

To find out more about Skyharbour Resources Ltd. (TSX-V: SYH) visit the Company’s website at www.skyharbourltd.com .

SKYHARBOUR RESOURCES LTD.

“Jordan Trimble”

Jordan Trimble
President and CEO

For further information contact myself or:
Nicholas Coltura
Corporate Development and Communications
Skyharbour Resources Ltd.
Telephone: 604-558-5847
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: [email protected]

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

The securities offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor in any other jurisdiction.

This release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements, including the Private Placement. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, regulatory approvals, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.