OTC Markets Group Welcomes Skyharbour Resources Ltd. to OTCQX

Rhea-AI Summary

OTC Markets Group Inc. (OTCM) announced that Skyharbour Resources Ltd. has successfully graduated to the OTCQX® Best Market from the OTCQB® Venture Market, effective September 30, 2022. This upgrade allows Skyharbour, a Canadian uranium exploration company, to enhance its visibility and accessibility to U.S. investors. Skyharbour holds a significant uranium project portfolio in the Athabasca Basin, featuring high-grade drill results and active exploration initiatives, positioning the company to capitalize on improving uranium market fundamentals.

Positive

• Skyharbour upgraded to OTCQX from OTCQB, enhancing visibility to U.S. investors.
• Company has multiple drill-ready projects in a geopolitically favorable location.
• Recent high-grade drill results at Moore Uranium Project show up to 20.8% U3O8 over 1.5m.

Negative

• None.

NEW YORK, Sept. 30, 2022 (GLOBE NEWSWIRE) -- OTC Markets Group Inc. (OTCQX: OTCM), operator of regulated markets for 12,000 U.S. and international securities, today announced Skyharbour Resources Ltd. (TSX-V: SYH; OTCQX: SYHBF), a Canadian uranium exploration company, has qualified to trade on the OTCQX® Best Market. Skyharbour Resources Ltd. upgraded to OTCQX from the OTCQB® Venture Market.

Skyharbour begins trading today on OTCQX under the symbol “SYHBF.” U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.

The OTCQX Market is designed for established, investor-focused U.S. and international companies. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws. Graduating to the OTCQX Market from the OTCQB Market marks an important milestone for companies, enabling them to demonstrate their qualifications and build visibility among U.S. investors.

Skyharbour’s President and CEO, Jordan Trimble, commented, “Skyharbour has rapidly grown as a business in the last couple of years, emerging as a premier uranium exploration company with a significant project portfolio in the Athabasca Basin of northern Saskatchewan, Canada. With the recent resurgence in positive sentiment around nuclear energy as the world transitions from carbon-intensive energy sources to low-carbon sources, Skyharbour is well positioned to benefit from higher uranium prices and improving market fundamentals. Upgrading to OTCQX provides American investors with greater accessibility to trading the Company’s common shares and gives the Company a much more robust potential shareholder and capital base.”

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 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 that returned 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 the Moore Uranium Project is Skyharbour’s 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. The Company is actively advancing these projects through exploration and drill 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. Furthermore, the Company owns a 100% interest in the South Falcon Point Uranium Project on the eastern perimeter of the Basin, which contains a NI 43-101 inferred resource totaling 7.0 million pounds of U₃O₈ at 0.03% and 5.3 million pounds of ThO₂ at 0.023%.

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.

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:
http://www.skyharbourltd.com/_resources/images/SKY-SaskProject-Locator-20220324.jpg

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

About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates regulated markets for trading 12,000 U.S. and international securities. Our data-driven disclosure standards form the foundation of our three public markets: OTCQX^® Best Market, OTCQB^® Venture Market and Pink^® Open Market.

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Media Contact:
OTC Markets Group Inc., +1 (212) 896-4428, media@otcmarkets.com

FAQ

What is Skyharbour Resources Ltd.'s status on OTC Markets?

Skyharbour Resources Ltd. has upgraded to the OTCQX® Best Market from the OTCQB® Venture Market.

How many uranium projects does Skyharbour hold?

Skyharbour holds an extensive portfolio of fifteen uranium exploration projects in the Athabasca Basin.

What are the drill results from Skyharbour's uranium projects?

Skyharbour reported drill results at the Moore Uranium Project with high-grade uranium mineralization, including 20.8% U3O8 over 1.5 meters.

When did Skyharbour begin trading on OTCQX?

Skyharbour started trading on OTCQX under the symbol 'SYHBF' on September 30, 2022.