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Skyharbour Assets Ltd. (TSX-V: SYH ) (OTCQX: SYHBF ) (Frankfurt: SC1P ) (“Skyharbour” or the “Firm”) is happy to announce that’s has entered right into a definitive and binding buy settlement (the “Buy Settlement”) with Rio Tinto Exploration Canada Inc. (“RTEC”) to extend and consolidate its possession curiosity within the Russell Lake Uranium Undertaking (“Russell Lake” or the “Undertaking”) by way of the acquisition of RTEC’s minority curiosity within the Undertaking (the “Transaction”). The Undertaking is strategically situated within the central core of the Jap Athabasca Basin of northern Saskatchewan, with entry to regional infrastructure, together with an all-weather street and powerline.
Russell Lake Undertaking Location Map:
https://www.skyharbourltd.com/_resources/photographs/SKY_RussellLake.jpg
Transaction Particulars:
Instantly previous to closing, RTEC’s curiosity within the Undertaking shall be roughly 42.3%. Pursuant to the phrases of the Buy Settlement, Skyharbour has agreed to accumulate 100% of RTEC’s minority curiosity within the Undertaking in alternate for money consideration of C$10 million (the “Buy Value”). The Buy Value shall encompass a C$2 million deposit payable inside 5 enterprise days of the date of execution of the Buy Settlement (the “Deposit”) and a C$8 million money cost at closing (the “Closing Cost”), which is anticipated to be on or earlier than December 21 st , 2025.
Skyharbour shall grant to RTEC a 0.25% web smelter returns royalty over Russell Lake. The acquisition of RTEC’s curiosity in Russell Lake will improve Skyharbour’s curiosity within the Undertaking to 100%, topic to a number of different web smelter return royalties held by third events.
Russell Lake Uranium Undertaking Overview:
The Russell Lake Undertaking is a big, advanced-stage uranium exploration property totalling 73,314 hectares strategically situated between Cameco’s Key Lake and McArthur River Tasks, and adjoining Denison’s Wheeler River Undertaking to the west and Skyharbour’s Moore Uranium Undertaking to the east. The northern extension of Freeway 914 between Key Lake and McArthur River runs by way of the western extent of the property and drastically enhances accessibility, whereas a high-voltage powerline is located alongside this street. Skyharbour’s acquisition of a majority curiosity in Russell Lake creates a big, practically contiguous block of extremely potential uranium claims totalling 109,019 hectares between the Russell Lake and the Moore uranium tasks. A number of notable exploration targets exist on Russell, together with the Grayling Zone, the M-Zone Extension goal, the Little Man Lake goal, the Christie Lake goal, the Fox Lake Path goal and the newly recognized Fork Zone goal. Greater than 35 kilometres of largely untested potential conductors in areas of low magnetic depth additionally exist on the Property. Skyharbour is the operator and owns a majority curiosity in Russell Lake, having shaped a three way partnership partnership with RTEC on the venture.
Certified Individual:
The technical data on this information launch has been ready in accordance with the Canadian regulatory necessities set out in Nationwide Instrument 43-101 and reviewed and permitted by Serdar Donmez, P.Geo., VP of Exploration for Skyharbour in addition to a Certified Individual.
About Skyharbour Assets Ltd.:
Skyharbour holds an in depth portfolio of uranium exploration tasks in Canada’s Athabasca Basin and is nicely positioned to profit from bettering uranium market fundamentals with curiosity in thirty-seven tasks overlaying over 616,000 hectares (over 1.5 million acres) of land. Skyharbour has acquired from Denison Mines, a big strategic shareholder of the Firm, a 100% curiosity within the Moore Uranium Undertaking, which is situated 15 kilometres east of Denison’s Wheeler River venture and 39 kilometres south of Cameco’s McArthur River uranium mine. Moore is an advanced-stage uranium exploration property with high-grade uranium mineralization in a number of zones on the Maverick Hall. Adjoining to the Moore Undertaking is the Russell Lake Uranium Undertaking, which hosts widespread uranium mineralization in drill intercepts over a big property space with exploration upside potential. The Firm is actively advancing these tasks by way of exploration and drilling applications.
Skyharbour additionally has joint ventures with business chief Orano Canada Inc., Azincourt Vitality, and Thunderbird Assets on the Preston, East Preston, and Hook Lake Tasks, respectively. The Firm additionally has a number of energetic earn-in possibility companions, together with CSE-listed Basin Uranium Corp. on the Mann Lake Uranium Undertaking; TSX-V listed North Shore Uranium on the Falcon Undertaking; UraEx Assets on the South Dufferin and Bolt Tasks; Hatchet Uranium on the Freeway Undertaking; CSE-listed Mustang Vitality on the 914W Undertaking; and TSX-V listed Terra Clear Vitality on the South Falcon East Undertaking.
In mixture, Skyharbour has now signed earn-in possibility agreements with companions that whole to over $36 million in partner-funded exploration expenditures, over $20 million value of shares being issued, and $14 million in money funds coming into Skyharbour, assuming that these accomplice firms full their whole earn-ins on the respective tasks.
Skyharbour’s aim is to maximise shareholder worth by way of new mineral discoveries, dedicated long-term partnerships, and the development of exploration tasks in geopolitically beneficial jurisdictions.
Skyharbour’s Uranium Undertaking Map within the Athabasca Basin:
https://skyharbourltd.com/_resources/information/SKY_SaskProject_Locator_2025_07_16_v1.jpg
To seek out out extra about Skyharbour Assets Ltd. (TSX-V: SYH) go to the Firm’s web site at www.skyharbourltd.com .
Skyharbour Assets Ltd.
“Jordan Trimble”
Jordan Trimble
President and CEO
For additional data contact myself or:
Nicholas Coltura
Investor Relations Supervisor
Skyharbour Assets Ltd.
Phone: 604-558-5847
Toll Free: 800-567-8181
Facsimile: 604-687-3119
E-mail: data@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.
This launch consists of sure statements which may be deemed to be “forward-looking statements”. All statements on this launch, apart from statements of historic info, that deal with occasions or developments that administration of the Firm expects, are forward-looking statements, together with receipt of TSXV approval to the Transaction and the closing of the Transaction. Though administration believes the expectations expressed in such forward-looking statements are based mostly on affordable assumptions, such statements aren’t ensures of future efficiency, and precise outcomes or developments could differ materially from these within the forward-looking statements. The Firm undertakes no obligation to replace these forward-looking statements if administration’s beliefs, estimates or opinions, or different components, ought to change. Components that might trigger precise outcomes to vary materially from these in forward-looking statements, exploration and improvement successes, regulatory approvals together with TSXV approval, and common financial, market or enterprise circumstances. Please see the general public filings of the Firm at www.sedarplus.ca for additional data.
Holly Iervella
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