Projects

Moore Lake - Core Project

Skyharbour owns 100% of the 35,705 hectare Moore Uranium Project located 42 kilometres northeast of the Key Lake mill, approx. 15 kilometres east of Denison’s Wheeler River project, and 39 kilometres south of Cameco’s McArthur River mine. Unconformity-hosted uranium mineralization was discovered on the property at the Maverick Zone in the early 2000s at relatively shallow depths. Skyharbour has carried out several drill programs with multiple holes intersecting high-grade uranium mineralization over the 4km long Maverick corridor. Drill results include 20.8% U3O8 over 1.5m at 264m depth in hole ML-199, 9.12% U3O8 over 1.4m at 278m in hole ML-202 and 5.29% over 2.5m U3O8 at 279m depth in hole ML-200. Hole ML-202 represents a new high-grade discovery and illustrates the strong discovery potential of additional high-grade lenses along strike. The Company is planning additional drill programs to expand the known high-grade Maverick Zone and to test basement-hosted targets as well as regional targets.

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Falcon

Uranium and thorium mineralization discovered to date at Falcon Point is shallow and is hosted in two geological settings, with the southern half hosting classic Athabasca-style basement mineralization associated with well-developed EM conductors which include EWA, Walker and Fraser Lakes zones. Drilling to date on the Falcon Point Project totals over 22,000 metres in more than 110 holes. Over $15 million has been invested in exploration consisting of airborne and ground geophysics, multi-phased diamond drill campaigns, detailed geochemical sampling and surveys, and ground-based prospecting culminating in an extensive geological database for the project area.

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Hook Lake

The Hook Lake Project (formerly North Falcon Point) consists of 16 contiguous mining claims covering 25,847 hectares, located 60 km east of the Key Lake Uranium Mine in northern Saskatchewan. The Project is host to several prospective areas of uranium mineralization including the Hook Lake / Zone S High-grade surface outcrop with reported grades in grab samples up to 68% U3O8. A bio-geochemical survey carried out over the trenches in 2015 responded positively with along-strike anomalies 2 km to the northeast. Valor Resources recently completed their 80% earn-in on the Hook Lake Uranium Project, now becoming a JV with Skyharbour whereby Skyharbour maintains a 20% interest. Valor has completed its contribution of cash and exploration expenditures consideration totaling CAD $3,750,000 over a three-year period ($250,000 in cash payments to Skyharbour as well as $3,500,000 in exploration expenditures).

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Preston

The Preston Project is a large land position totaling 49,635 hectares strategically located proximal to NexGen Energy's (TSX-V: NXE) high-grade Arrow uranium deposit and Fission Uranium's (TSX: FCU) Patterson Lake South Triple R deposit. In March 2017, Skyharbour and its Preston partner company Clean Commodities signed an option agreement with Orano Canada Inc. (formerly AREVA) to option up to 70% of the project for $8,00,000 in total project consideration ($7,300,000 in exploration and $700,000 in cash payments over six years). In March 2021, Orano completed the first earn-in of 51%, by completing $2,800,000 in exploration expenditures and making a total of $200,000 in cash payments over three years, and thus forming a joint venture with Skyharbour Resources and Dixie Gold both retaining a 24.5% interest. The Preston Uranium Project is a strategic, district-scale property with robust exploration upside potential and Skyharbour is utilizing the prospect generator model to advance this project with strategic partners.

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East Preston

The East Preston Uranium Project is a large land position totalling 20,674 hectares, representing the eastern region of the larger Preston Project strategically located near NexGen Energy Ltd’s high-grade Arrow deposit on its Rook-1 property and Fission Uranium Corp’s Triple R deposit located within their PLS Project area. In March 2017, Skyharbour signed an option agreement with Azincourt Uranium to option up to 70% of the East Preston Uranium Project for $3,500,000 in project consideration ($2,500,000 in exploration expenditures over three years and $1,000,000 in cash payments) and 4,500,000 shares. In February 2021, Azincourt completed their earn-in option of a 70% interest in the East Preston Uranium Project and formed a joint venture with Skyharbour Resources and Dixie Gold each holding a 15% interest in the Project.

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Mann Lake

The 3,473 hectare Mann Lake Uranium Project is strategically located in the eastern Athabasca Basin 25 km southwest of the McArthur River Mine and adjacent to the Mann Lake Joint Venture operated by Cameco (52.5%) with partners Denison Mines (30%) and Orano (formerly AREVA) (17.5%). Denison acquired International Enexco and its 30% interest on this adjacent project after a 2014 winter drill program discovered high-grade, basement-hosted uranium mineralization. In 2014, Skyharbour completed an EM survey on its Mann Lake Project that was successful in confirming the presence of a broad, NE-SW trending corridor of conductive basement rocks. In October 2021, an option agreement was signed with Basin Uranium Corp providing them with an earn-in option to acquire up to a 75% interest in the Mann Lake Uranium Project.

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South Bay

Skyharbour Resources holds a 100% interest in the approximately 1,780 acres of land that includes the former Selco South Bay copper-zinc-silver mine. The South Bay property is located in the Dent, Mitchell, and Agnew Townships, 80 kilometres east-northeast of Red Lake in northwestern Ontario.

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South Falcon East

The South Falcon East Project is a uranium project in the southeast Athabasca Basin and represents a portion of Skyharbour’s larger South Falcon Project. The project covers approximately 12,234 hectares and lies 18 kilometers outside the Athabasca Basin, approximately 55 kilometers east of the Key Lake Mine. Drilling to date on the entire Falcon Point Project area totals over 22,000 metres in more than 110 holes. Over $15 million has been invested in exploration consisting of airborne and ground geophysics, multi-phased diamond drill campaigns, detailed geochemical sampling and surveys, and ground-based prospecting culminating in an extensive geological database for the project area.

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Yurchison

The 54,184 hectare Yurchison Lake property, acquired from Denison Mines Corp in 2014, is located 70 kilometres southeast of the McArthur River uranium mine and 35 kilometres east of the Moore Lake joint venture property. Skyharbour Resources holds a 100% interest in the project.

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Foster River

The drill-ready Foster property consists of 15 claims totaling 6,362 hectares approximately 20 km east of Cameco's Key Lake operation and adjoining the southwestern end of Skyharbour's Falcon Project, currently optioned out to North Shore Energy Metals Ltd. The Foster claims are situated in the Wollaston Domain just outside of the currently mapped extent of the Athabasca Basin, with several small outliers of sandstone located regionally in the area. The basement geology consists of psammopelite, calc-silicate, diorite, pelitic gneiss and graphitic pelitic gneiss of the Daly Lake Group, accompanied by minor felsic orthogneisses.

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Pluto Bay

The Pluto Bay Property consists of four claims covering 13,026 ha, located approximately 14 km north of the Athabasca Basin, just east of the Snowbird Tectonic Zone. Minimal modern exploration has been undertaken on the property, which is prospective for basement-hosted unconformity-related uranium mineralization.

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Riou River

Riou River consists of 8,620 ha over six claims in the north-central portion of the Athabasca Basin and is underlain by Athabasca Supergroup sandstone and conglomerate.

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South Dufferin

The South Dufferin project totals 13,205 hectares covering ten claims and is located immediately south of the southern margin of the Athabasca Basin in northern Saskatchewan. The property covers the southern extension of the Virgin River Shear Zone, which hosts known high-grade uranium mineralization at Cameco Corp.'s Dufferin Lake zone approximately 13 kilometres to the north (highlight drill results of 1.73% U3O8 over 6.5 metres) and Cameco Corp.'s Centennial deposit approximately 25 kilometres to the north (includes drill intersections up to 8.78% U3O8 over 33.9 metres).

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Usam Island

The Usam Project consists of twelve claims totalling 44,041 hectares located approx. 21km northeast of Cameco’s Eagle Point mine. It contains numerous electromagnetic conductors situated along significant magnetic lows of the Wollaston Domain.

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Russell Lake - Core Project

The Russell Lake Project is a large, advanced-stage uranium exploration property totalling 73,294 hectares strategically located between Cameco’s Key Lake and McArthur River Projects and adjoining Denison’s Wheeler River Project to the west and Skyharbour’s Moore Uranium Project to the east. Highway 914, which services the McArthur River mine, runs through the western extent of the Property and greatly enhances accessibility. Similarly, a high-voltage powerline situated alongside Highway 914. Skyharbour’s acquisition of Russell Lake creates a large, nearly contiguous block of highly prospective uranium claims totalling 108,999 hectares between the Russell Lake and the Moore uranium projects.

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Highway Project

The Highway Project consists of four claims covering 9,339 ha, approximately 41 km south of the Rabbit Lake Mine and 11 km SW of Uranium Energy Corp.'s (UEC, formerly UEX) West Bear U and Co-Ni Deposits. Highway 905 runs through the property, providing excellent access for exploration and the project is in close proximity to regional infrastructure. Despite its proximity to infrastructure and excellent access, the project is relatively underexplored.

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Karin Project

The Karin Project consists of five claims covering 18,383 ha approximately 20 km south-southeast of Cameco’s Key Lake operation. The property is approximately 21 to 33 km east of Highway 914 and is adjacent to Skyharbour’s Foster Project. The project is underlain by Wollaston Group metasedimentary gneisses, predominantly psammitic to meta-arkosic in composition but with localized prospective pelitic to psammopelitic gneisses. Despite lying outside the current extent of the Athabasca Basin, the Karin project was likely covered by the Athabasca Supergroup in its past, making the area prospective for unconformity-related uranium mineralization.

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914, 914N, and Elevator

The 914, 914N, and Elevator projects consist of four non-contiguous claims totalling 11,873 ha and are located 31 to 52 km south of the Athabasca Basin margin and 35 to 55 km south of Cameco’s Key Lake Operation (209.8 million pounds U3O8 produced at an average grade of 2.32%). All three projects are near Provincial Highway 914, which provides direct access to the southern part of the province, with the 914 Project situated 1 km east of Highway 914, the 914N Property situated 5 km east of Highway 914, and the Elevator Property situated 15 km east of Highway 914. Geological mapping of the properties and surrounding areas has shown that they are underlain by prospective Wollaston Supergroup metasedimentary gneisses and Archean granitic to tonalitic gneisses of the Western Wollaston Domain, which hosts significant uranium mineralization further to the north in the Athabasca Basin.

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914W

The 914W project consists of one claim covering 1,260 ha approximately 48 km southwest of Cameco’s Key Lake Operation. Highway 914 runs through the western edge of the project, providing excellent access for exploration. Historical geological mapping of the property and surrounding area has shown that the project is predominantly underlain by prospective Wollaston Supergroup pelitic and psammitic to arkosic gneisses of the Western Wollaston Domain, which host significant unconformity-related uranium mineralization further to the north in the Athabasca Basin as well as pegmatite-hosted uranium mineralization elsewhere in the Wollaston Domain.

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Shoe and CBX

The Snow, Shoe, and CBX properties consist of three non-contiguous claims totalling 2,582 ha located approximately 10 to 25 km along strike to the northeast of the currently idled Eagle Point uranium mine (Cameco’s Rabbit Lake Operation). The claims are located at the northern end of Wollaston Lake and underlain by Wollaston Supergroup pelitic, psammopelitic, and psammitic gneisses, Hudsonian intrusives, and Archean felsic gneisses of the Western Wollaston Domain. Similar lithologies host uranium mineralization at the Rabbit Lake operation, including the Eagle Point deposit, and other uranium deposits in the Athabasca Basin and surrounding regions.

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Bolt Project

The Bolt Project consists of two contiguous claims 100% owned by Skyharbour Resources Ltd. totalling 4726.35 hectares and is located approximately 7 km west of the Highway 914 and about 32 km southwest of Cameco's Key Lake Operation

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