SKYHARBOUR RES LTD ORD - SYHBF STOCK NEWS

Skyharbour Resources Ltd. (TSX-V: SYH) has successfully acquired a 100% interest in the South Dufferin Uranium Project from Denison Mines Corp. This project encompasses 12,282 hectares in the high-grade uranium-rich Athabasca Basin. With this acquisition, Skyharbour increases its total land holdings to approximately 504,356 hectares across 24 properties. The South Dufferin Project is positioned to enhance Skyharbour's existing portfolio, providing new opportunities for strategic partnerships and exploration. The agreement also includes the issuance of 6 million shares and 1 million share purchase warrants to Denison, signaling a strong collaborative future. The property has been assessed as drill-ready, indicating a promising outlook for future exploration initiatives.

Skyharbour Resources has successfully staked eight new uranium exploration properties in the Athabasca Basin, adding 34,022 hectares to its portfolio, which now totals 492,074 hectares across twenty-three properties. This strategic acquisition positions the company advantageously in a world-renowned mining region. The new properties, free of royalties, will complement Skyharbour's ongoing 10,000m drill program at Russell Lake and are part of its prospect generator model. CEO Jordan Trimble highlighted that these new assets enhance the company’s exploration capabilities and provide ground for potential joint ventures. Notably, the company has established partnerships resulting in over $34 million in exploration expenditures from option agreements. The new projects are predominantly underexplored, offering significant upside potential for mineral discovery as uranium market fundamentals improve.

Skyharbour Resources Ltd. announced the completion of its 2023 exploration program at the East Preston uranium project in Saskatchewan, Canada. The program, conducted by Azincourt Energy, involved drilling 3,066 meters across 13 holes, focusing on the G, K, H, and Q zones. Key findings include significant hydrothermal alteration and elevated radioactivity in several holes. The company anticipates lab results for 687 samples collected to begin arriving in May. Skyharbour retains a minority interest in the project after Azincourt's successful earn-in of a 70% working interest following CAD $2.5 million in exploration expenditures and cash payments.