Skyharbour Resources (TSX-V: SYH) would like to bring to your attention three Athabasca Basin news releases issued yesterday by: International Enexco (TSX-V: IEC) and Cameco (TSX: CCO), Purepoint Uranium, and Fission Uranium (TSX-V: FCU). Links to these news release can be found below. These announcements represent significant developments and discoveries in areas of the Basin that Skyharbour is actively exploring and has projects in.
Skyharbour's Athabasca Basin, Saskatchewan Property Claims Map:
The Mann Lake Uranium Project is a 60-40% joint venture between Skyharbour Resources (TSX-V: SYH) and Aben Resources (TSX-V: ABN). Cameco and International Enexco's Mann Lake Joint Venture (subject of the news release below) is adjacent to the east of Skyharbour and Aben's Mann Lake Project as shown on this map:
Skyharbour's Mann Lake Uranium Project:
International Enexco announced yesterday that a drill discovery has been made on their project by the operator Cameco consisting of 2.31% eU3O8 over 5.1 metres including 10.92% eU3O8 over 0.4 metres. Here is a link to the news release:
This discovery on the adjacent property to Skyharbour's Mann Lake Project is a significant development in the area and highlights the geological prospectivity of the region. Skyharbour's Mann Lake Project has seen over $4 million of previous exploration expenditures including recent geophysics and two diamond drill programs totaling 5,400 metres carried out in 2006 and 2008. The geophysical surveys identified basement conductors and structural corridors containing reactivated basement faults. These features trend onto the adjacent ground held by Cameco.
Over on the west side of the Basin in the Patterson Lake region, Purepoint Uranium provided the initial results from a newly discovered zone of uranium mineralization within the Patterson Lake conductive corridor at their Hook Lake Project. The best assays to date from the "Spitfire Zone" returned a weighted average of 0.32% U3O8 over 6.2 metres that includes an interval of 1.1% U3O8 over 0.5 metres. The Hook Lake project is a joint venture with Purepoint, AREVA and Cameco. Here is a link to the news release:
Skyharbour and its Syndicate partners have properties to the north and south of this new discovery at the Hook Lake Project as shown in the following map:
Patterson Lake Area Exploration Corridors:
Additionally, Fission Uranium announced results from four new holes at PLS including hole PLS14-164 which intersected 30.08m of total composite off-scale mineralization in 136.0m of total composite mineralization at shallow depth. This hole has returned the second strongest off-scale results recorded at PLS to date, placing it amongst the best holes drilled in the Athabasca Basin. The 100% mineralization hit rate continues at PLS. A link to the news release is below:
Skyharbour and its Syndicate partners maintain one of the most dominant land packages in the Patterson Lake area including the flagship Preston Lake project in which over $2 million in exploration has been carried out to date with a diamond drill program slated to commence shortly.
About Skyharbour Resources Ltd.:
Skyharbour Resources Ltd. is a uranium exploration company and a member of the Western Athabasca Syndicate which controls a large, geologically prospective land package consisting of five properties (287,130 hectares or 709,513 acres) in the Athabasca Basin of Saskatchewan. $6,000,000 in combined exploration expenditures over the next two years is planned on these properties, $5,000,000 of which is being funded by the three partner companies. Skyharbour also owns a 60% interest in the Mann Lake Uranium project on the east side of the Basin strategically located 25 km southwest of Cameco's McArthur River Mine. The Company has 44.6 million shares outstanding with insiders owning over 25% of the outstanding shares. 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.
To find out more about Skyharbour Resources Ltd. (TSX-V: SYH) visit the Company's website at www.skyharbourltd.com.
For further information contact:
President and CEO
Skyharbour Resources Ltd.
Toll Free: 800-567-8181