SKYHARBOUR RES LTD ORD - SYHBF STOCK NEWS

Skyharbour Resources Ltd. has upgraded to trade on the OTCQX Best Market under the symbol SYHBF, effective September 30, 2022. Moving from the OTCQB signifies meeting high financial standards and corporate governance. This transition enhances visibility among U.S. investors as the company positions itself within the growing uranium sector, driven by positive nuclear energy sentiment. Skyharbour holds an extensive portfolio of uranium projects in the Athabasca Basin, including the Moore Uranium Project, which has shown promising drill results.

Skyharbour Resources Ltd. has signed an option agreement with Yellow Rocks Energy to allow the latter to acquire up to 80% of the Wallee and Usam Island Uranium Properties in Saskatchewan, Canada. The agreement involves Yellow Rocks issuing shares valued at AUD $2,025,000, making a cash payment of AUD $50,000, and committing AUD $4,500,000 in exploration expenditures. The Wallee project spans approximately 20,765 hectares, while the Usam project covers 42,186 hectares. Skyharbour will retain a 2% NSR on all claims and aim to enhance shareholder value through strategic partnerships.

Skyharbour Resources Ltd. (SYHBF) announced that its partner Valor Resources has identified eleven new targets at the Hook Lake Uranium Project following an airborne gravity gradiometry survey. This survey aimed to detect gravity lows indicating potential uranium deposits. The final assay results from a previous diamond drilling program showed promising signs of uranium mineralization, with a peak of 160ppm U3O8 from a depth of 105.5m. The company plans follow-up exploration including radon surveys and lake sediment sampling to further assess these targets.

Skyharbour Resources Ltd. (TSX-V: SYH, OTCQB: SYHBF) announced the start of a phase two diamond drilling program at its Mann Lake uranium project, strategically located near significant uranium deposits. The drilling aims to explore targets identified in previous drilling and geophysical surveys, with approximately 4,000 meters of core drilling planned. The project, under an Option Agreement with Basin Uranium, is part of a CAD $4,850,000 investment strategy, including cash payments and exploration expenditures. The ongoing exploration seeks to discover additional uranium mineralization in a geopolitically favorable region.

Skyharbour Resources Ltd. (SYHBF) partner Basin Uranium Corp. announced significant uranium mineralization from its phase one drilling at the Mann Lake project, located near major uranium deposits in Canada. Key findings include 323 ppm U₃O₈ over 0.5 meters in hole MN22002, suggesting a promising northeast conductor corridor. The results have upgraded the project's potential, prompting plans for a phase two drill program to explore further. The initial program covered 3,503 meters and uncovered valuable pathfinder elements and rare earths, indicating strong mineralization prospects.

Skyharbour Resources Ltd. (TSX-V: SYH, OTCQB: SYHBF) has provided an update on Azincourt Energy's plans for the East Preston Project in Saskatchewan. With a fully funded drilling program slated for fall 2022 and winter 2023, approximately 6,000 metres of drilling in over 20 holes is planned. The focus is on the A-G and K-H-Q Trends to explore significant alteration zones and elevated uranium values. The permitting process is underway, and community engagement continues with the Clearwater River Dene Nation.

Skyharbour Resources Ltd. (TSX-V: SYH, OTCQB: SYHBF) has finalized its option agreement with Rio Tinto Exploration Canada to acquire the Russell Lake Uranium Project, encompassing 73,294 hectares. This project, located strategically in the Athabasca Basin, is notable for its historical drilling results, revealing numerous high-grade uranium showings. Under the agreement, Skyharbour must pay CAD $508,200 and issue 3,584,014 shares to Rio Tinto, alongside committing to CAD $5,717,250 in exploration expenditures over three years.