Skyharbour Resources Receives $1.55 Million from Warrant Exercises
May 03 2023 - 7:00AM
Skyharbour Resources Ltd. (TSX-V:
SYH
)
(OTCQX:
SYHBF
) (Frankfurt:
SC1P
) (the “Company”) is pleased to announce it
has received an aggregate CAD $1,551,456.50 from the exercise of
share purchase warrants with a strike price at $0.22 since April
1st, 2023. A total of 7,052,075 warrants have been exercised with
the batch of warrants expiring May 1st, 2023.
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% 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 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 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 minority 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.
Skyharbour has several active option partners
including: ASX-listed Valor Resources on the Hook Lake Uranium
Project, CSE-listed Basin Uranium Corp. on the Mann Lake Uranium
Project, and CSE-listed Medaro Mining Corp. on the Yurchison
Project. More recently, Skyharbour announced two new earn-in option
agreements with Yellow Rocks Energy, a private Australian entity,
to option the Wallee and Usam Island projects, and Tisdale Clean
Energy at the South Falcon East Project.
The Company also owns a 100% interest in the
South Falcon Point Uranium Project on the eastern perimeter of the
Basin which is host to the Fraser Lakes Zone B Uranium and Thorium
Deposit. Skyharbour has recently optioned the South Falcon East
Project, a uranium project in the southeast Athabasca Basin and
represents a portion of the larger South Falcon Project, to Tisdale
Clean Energy whereby Tisdale will fund exploration, pay Skyharbour
in cash, and issue shares of the company over a five-year earn-in
period.
Collectively, Skyharbour has now signed option
agreements with partners that total over $34 million in
partner-funded exploration expenditures, over $22 million in stock
being issued and just under $15 million in cash payments coming
into Skyharbour, assuming that these partner companies earn-in the
full amount 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.
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
TrimblePresident and CEO
For further information contact myself or:Nicholas
ColturaCorporate Development and CommunicationsSkyharbour Resources
Ltd. Telephone: 604-558-5847Toll Free: 800-567-8181Facsimile:
604-687-3119Email: info@skyharbourltd.com
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.
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