Skyharbour Resou Stock Price, News & Analysis

Skyharbour Resources (TSX-V: SYH) (OTCQX: SYHBF) has commenced its 2025 drilling campaign at the Russell Lake Uranium Project in Saskatchewan. The company owns 57.7% of the 73,314-hectare project as operator, with Rio Tinto Exploration Canada owning 42.3%. The initial phase consists of a 5,000-metre diamond drilling program across 10-12 holes, focusing on the Fork, Sphinx, M-Zone Extension, and Fox Lake Trail targets.

This is part of Skyharbour's largest annual drill campaign ever, with plans for 16,000-18,000 metres across 35-45 holes at its Russell Lake and Moore Uranium Projects throughout 2025. The company is fully funded for these programs, which will provide steady news flow.

The Fork target, where a new high-grade uranium discovery was made in 2024 with intercepts up to 3.0% U3O8, will be a high-priority target. The project is strategically located between Cameco's Key Lake and McArthur River Projects, with excellent infrastructure including an all-weather road and powerline access.

Skyharbour Resources (SYHBF) announces that partner Terra Clean Energy has begun mobilizing crew and equipment for an extensive winter drill program at the South Falcon East Uranium Project. The program will consist of up to 2,500 meters of drilling, focusing on expanding the Fraser Lakes B Uranium Deposit.

The project, located 18km outside the Athabasca Basin and 50km East of the Key Lake uranium mill, is under an option agreement where Terra can earn a 75% interest by funding CAD $10.5M in exploration and paying Skyharbour CAD $11.1M in cash (of which $6.5M can be settled in shares).

Terra's 2024 inaugural drill program confirmed uranium mineralized pegmatites and graphitic pelitic paragneiss along the Way Lake Conductor. The 2025 program aims to extend the mineralized footprint and test nearby targets, with previous drilling highlighting promising results including 0.165% U3O8 over 2.0 metres.

Skyharbour Resources (SYHBF) and joint-venture partner Orano Canada have announced a major exploration program at the Preston Uranium Project for 2025. The program includes a 6,000-7,000 metre helicopter-supported diamond drilling campaign across approximately 26 holes, averaging 250 metres depth.

The drilling will focus on multiple target areas including the untested Johnson Lake grid and Canoe Lake grid, with potential expansion to the FSAN-North and West Preston Grids. The program aims to test several conductive trends and structural environments analogous to significant uranium deposits in the region.

The announcement follows Orano's 2024 exploration activities at Preston, which included 35.6 km of ground electromagnetic surveys, 2,295 gravity stations, and over 1,100 soil samples. Orano currently holds a 53.3% interest in the joint venture, with Skyharbour maintaining a 25.6% stake.

Skyharbour Resources (SYHBF) has announced its largest-ever drilling campaign for 2025, planning 16,000-18,000 meters across 35-45 holes at its Russell Lake and Moore Uranium Projects in Saskatchewan. The fully-funded program includes:

At Russell Lake (73,294 hectares): 10,000-11,000 meters across 18-20 holes, focusing on the Fork target (where recent drilling discovered high-grade uranium of 0.721% U3O8 over 2.5 meters), Sphinx targets, M-Zone Extension, and Fox Lake Trail target.

At Moore Project (35,705 hectares): 5,000-7,000 meters across 18-24 holes, targeting the Maverick Corridor's 4.7-kilometer strike length. Recent drilling at Moore yielded significant results, including 4.61% U3O8 over 5.0m.

The campaign will operate from the exploration camp at Russell Lake, located along the road to Cameco's McArthur River Uranium Mine, with drilling set to commence within weeks.

Skyharbour Resources announced the acquisition of 40 new uranium exploration claims in Northern Saskatchewan, increasing their total land package to 614,353 hectares across 36 projects. These new 100% owned claims add 62,690 hectares to Skyharbour’s holdings in the Athabasca Basin, a region known for its high-grade uranium deposits.

The newly staked properties include:

• Foster Project: 14,890 ha
• Horton Project: 2,992 ha
• Lynx Project: 5,345 ha
• Snowbird Project: 29,712 ha
• Pendleton Project: 3,890 ha
• Spence Project: 2,419 ha
• Orr Project: 5,987 ha
• Otter Project: 4,838 ha

The Foster project, now drill-ready, consists of 26 claims totaling 21,252 hectares. The Horton project comprises 3 claims totaling 2,922 hectares. The Lynx property, acquired through staking, consists of 2 claims totaling 5,345 hectares. The Snowbird project, with 16 claims totaling 29,712 hectares, is located south of Cameco’s Centennial Deposit. The Orr project includes 1 claim totaling 5,987 hectares, while the Otter project consists of 1 claim totaling 4,838 hectares. The Pendleton Project includes 3 claims totaling 3,890 hectares, and the Spence Project consists of 3 non-contiguous claims totaling 2,419 hectares.

Skyharbour aims to seek partners to advance these assets as part of its prospect generator business.

Skyharbour Resources (SYHBF) announces that its partner Terra Clean Energy has secured an Exploration Agreement with the English River First Nation and received drilling permits for the South Falcon East uranium project. Under the option agreement, Terra can earn a 75% interest by funding CAD $10.5M in exploration and paying Skyharbour CAD $11.1M, of which $6.5M can be settled in Terra shares over five years.

The project, located 18km outside the Athabasca Basin and 50km east of the Key Lake uranium mill, covers 12,464 hectares. Terra plans a winter 2025 drilling program with a budget of $1.5M, focusing on the Fraser Lakes B uranium deposit and additional targets along the Way Lake conductor. The program is expected to commence between late January and early February 2025.

Skyharbour Resources (SYHBF) has successfully closed a combined brokered and non-brokered private placement, raising total gross proceeds of C$10,020,000. The offering included the issuance of 5,000,000 Units at C$0.40 per Unit, 2,368,420 Charity FT Shares at C$0.59, and 13,310,070 Traditional FT Shares at C$0.46.

The proceeds will fund the company's 2025 exploration and drilling programs at its uranium projects in Saskatchewan, with a focus on the Russell Lake and Moore projects. Each Unit includes one common share plus half a warrant exercisable at C$0.55 until June 20, 2027. The securities are subject to a hold period expiring April 21, 2025.

Skyharbour Resources has entered into an option agreement with Mustang Energy for its 914W Uranium Project in Saskatchewan's Athabasca Basin. Under the agreement, Mustang can acquire a 75% interest by issuing CAD $480,000 in shares, making CAD $275,000 in cash payments, and spending CAD $800,000 on exploration over three years.

The 914W Project spans 1,260 hectares, located 48 km southwest of Cameco's Key Lake Operation. The property is underlain by Wollaston Supergroup rocks, known for hosting uranium mineralization. Despite its strategic location and promising geology, the project remains underexplored. Historical exploration revealed uranium occurrences nearby, with values up to 1,288 ppm U in drilling and 0.64% U3O8 in surface trenching.

Skyharbour Resources has initiated its fall diamond drilling program at the Russell Lake Uranium Project in Saskatchewan. The company plans to complete 4,500 metres of drilling in 7-9 holes, focusing on the Fork target and M-Zone Extension target areas. The program builds on previous successful results, including a notable discovery at the Fork target where hole RSL24-02 returned 0.721% U3O8 over 2.5 metres, including 2.99% U3O8 over 0.5 metres. The 73,294-hectare project is 51% owned by Skyharbour with Rio Tinto holding 49%, and benefits from strategic location and infrastructure access.