International Enexco Intersects 3.73% eU3O8 Over 1.2 Metres Including 11.02% eU3O8 Over 0.3 Metres on the Mann Lake Project, Athabasca, SK


April 3, 2014

Skyharbour Resources (TSX-V: SYH) would like to bring to your attention a news release issued today by International Enexco (TSX-V: IEC). The news release is posted below. Skyharbour retains an ownership interest in two uranium projects in the Athabasca Basin in northern Saskatchewan. The Mann Lake property is located on the eastern side of the Basin and is adjacent to the Mann Lake Joint Venture operated by Cameco (52.5%) with partners International Enexco (30%) and AREVA (17.5%).

International Enexco Intersects 3.73% eU3O8 Over 1.2 Metres Including 11.02% eU3O8 Over 0.3 Metres on the Mann Lake Project, Athabasca, SK

Vancouver, Canada -- April 3, 2014 - International Enexco Ltd. (TSX.V: IEC; OTCQX: IEXCF; Frankfurt: I6E)(the "Company" or "Enexco") is pleased to report new Mann Lake down-hole gamma survey results for drill hole MN-065, located 150 metres ("m") north of MN-060, returned 1.2 m averaging 3.67% eU3O8, from 689.8 m to 691.0 m, and included a 0.3 m interval, from 690.3 m to 690.6 m, averaging 11.02% eU3O8. When combined with recent Mann Lake results, a minimum length of 300 m of mineralized trend exists between MN-060 and MN-047 within the footwall of the western conductor target. To date, 1.8 km of this unconformity target has been tested with 8 drill holes, and the target remains prospective along its entire length of 3.1 km. Enexco anticipates that a follow up drill program will be conducted in winter 2015 along untested portions of the aforementioned target and on other prospective areas at Mann Lake.

On March 10, 2014, an intersection of newly discovered unconformity mineralization was reported in MN-060. Down-hole gamma survey results in MN-060 intersected 5.1 m averaging 2.31% eU3O8. The intersection included a 0.4 m interval averaging 10.92% eU3O8. The hole represented a new discovery footwall to the western conductor in the northern half of the Mann Lake property and is located 300m south of hole MN-047, which, in 2013, encountered elevated radioactivity at the unconformity between Athabasca basement rocks and overlying sandstones, in an interval averaging 0.27% eU3O8 over 2.0 m. The MN-060 intersection is the best returned in the product of thickness and grade from the Mann Lake property thus far.

Arnold Armstrong, President and CEO of Enexco, commented: "We are extremely excited by the strong mineralized trend between MN-060 and MN-047, as shown by the intercept in MN-065. We now have an unconformity target footwall to the western conductor which extends north 3.1 km from the centre of the property. We are thrilled to have an interest in one of the most prospective areas of the eastern Athabasca Basin, and we look forward to further results from the 2014 drill campaign." 

The Mann Lake Uranium Project is located 25 kilometres southwest of the McArthur River mine between the neighbouring Hughes Lake Project (Cameco/AREVA/Anglo Bomarc), the Read Lake Project (Cameco/AREVA), and Denison Mines' 60%-owned Wheeler River Project. The Mann Lake Uranium Project is a joint venture between Cameco (52.5%), Enexco (30%) and AREVA Resources Canada (17.5%) in which Cameco is the operator.

Approximately 50% of the completed winter drill program focused on the footwall of the western conductor, a target with the newly discovered unconformity mineralization in MN-060 (5.1 m of 2.31% eU3O8). Drilling following the March 10, 2014 announcement included an intersection of similar unconformity mineralization in MN-065, located between MN-060 and MN-047.

Table A - MN-065 and MN-060 Intersections

DRILL HOLE

Grade Calculation Method

From

(m)

To

(m)

Thickness

(m)

Grade Cut-toff

%

Maximum Grade

(%U308)

Average Grade

(%U308)

GT

(m*%)

MN-065

Equivalent %U308 Gamma (High Flux Probe)

689.8

691.0

1.2

0.10

15.3

3.67

4.4

 

(includes)

690.0

690.7

0.7

1.00

15.3

6.51

4.2

 

(includes)

690.3

690.6

0.3

5.00

15.3

11.02

3.3

 

               

MN-060

(March 10, 2014 announcement)

Equivalent %U308 Gamma (High Flux Probe)

687.6

692.7

5.1

0.10

12.77

2.31

11.78

 

(includes)

689.2

690.6

1.4

1.00

5.12

2.26

3.16

 

(includes)

691.2

691.6

0.4

1.00

12.77

10.92

4.37

 

(includes)

689.2

691.9

2.7

1.00

12.77

4.20

11.34

  1. eU3O8 is the radiometric equivalent uranium from a total gamma down-hole probe calibrated using an algorithm calculated from the comparison of probe results. True widths of mineralized intervals have not yet been determined or geochemical analyses performed to support the probe data.
  2. Average grades are composited from 5 centimetre intervals

In all, the 2014 winter program totalled 13 holes and 9,838 metres drilled. Results for the holes completed on the footwall of the western conductor target, including MN-047, drilled in 2013, are listed below in order from south to north. Geochemical results for all drill holes in the 2014 program are still pending.

MN-063, 600 m north of MN-061, encountered only minor strong bleaching and no significant faulting above the unconformity. The basement consists of paleoweathered to fresh granite.

The C conductor on the Mann Lake property consists of three geophysical conductors designated the eastern, central and western conductors, which form a 6 km section of an anomalous regional trend. The unconformity target intersected in MN-060, MN-065 and MN-047, occurs on the footwall (west) of the western conductor within the northern half of the Mann Lake property. A presentation on the Mann Lake Uranium Project can be found on the Company's website.

Qualified Person
William Willoughby, Ph.D., P.E. is the Company's Qualified Person for the purposes of National Instrument 43-101 and has prepared or supervised the preparation of the disclosure of any scientific and technical information contained in this news release.

About Mann Lake Uranium Project
The Mann Lake Uranium Project is located in the heart of what is indisputably the most prolific and highest grade uranium region in the world, the Athabasca Basin in Saskatchewan. The project lies 25 kilometres southwest of Cameco's McArthur River Mine and 20 kilometres northeast of Cameco's Millennium deposit. High-grade mineralization was intersected during the 2006 drill program in MN-013 which intersected 7.12% U3O8 over 0.25 metres and 5.53% U3O8 over 0.4 metres.

About International Enexco Ltd.
International Enexco Ltd is a North American exploration and development company focused on the feasibility stage Contact Copper Project in northern Nevada and the Mann Lake and Bachman Lake Uranium Projects located in Saskatchewan's prolific Athabasca basin. Enexco holds a 30% interest in the Mann Lake Uranium Project and a 20% interest in Bachman Lake Uranium Projects. The Mann Lake Project is a joint venture with Cameco (52.5%), operator, and AREVA (17.5%), two of the world's largest uranium companies. 

On behalf of the Board of Directors, 

"G. Arnold Armstrong"

President & CEO

Certain information regarding the Company including management's assessment of future plans and operations, may constitute forward-looking statements under applicable securities laws and necessarily involve risks associated with mining exploration and development, volatility of prices, currency fluctuations, imprecision of resource estimates, environmental and permitting risks, access to labour and services, competition from other companies and ability to access sufficient capital. As a consequence, actual results may differ materially from those anticipated in the forward-looking statements. A feasibility study has not been completed and there is no certainty the disclosed targets will be reached nor that the proposed operations will be economically viable. The TSX Venture Exchange or its Regulation Services Provider have not reviewed and do not accept responsibility for the adequacy or accuracy of the contents of this news release, which has been prepared by management. We seek safe harbour.

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