Skyharbour Partner Company Terra Clean Energy Announces an Upcoming Drill Program at the South Falcon East Uranium Project
Rhea-AI Summary
Skyharbour (OTCQX: SYHBF) reports Terra Clean Energy will begin a targeted summer 2026 drill program at the Fraser Lakes B deposit, South Falcon East, testing a priority intersection of clay alteration, graphitic metasediments and hematite alteration.
Key facts: up to 2,500 m of drilling planned for mid‑late August 2026, CAD $1.75M budget, Terra can earn up to 75% by funding CAD $10.5M and paying Skyharbour CAD $11.1M (partly in shares). The project covers 12,464 ha and hosts a historical inferred resource of 6.9M lbs U3O8 at 0.03% U3O8.
Positive
- Planned drill program of up to 2,500 meters (summer 2026)
- Program budgeted at CAD 1.75 million
- Terra to fund CAD 10.5 million to earn 75% interest
- Potential cash/share consideration totaling CAD 11.1 million to Skyharbour
- Project area covers 12,464 hectares
Negative
- Historical inferred resource grade 0.03% U3O8
- Earn‑in schedule extends to 2030
- Share issuances totaling CAD 6.27M+ (VWAP based) as consideration
News Market Reaction – SYHBF
In the Apr 30 session, SYHBF gained 3.05%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Vancouver, BC, April 30, 2026 (GLOBE NEWSWIRE) -- Skyharbour Resources Ltd. (TSX-V: SYH) (OTCQX: SYHBF) (Frankfurt: SC1P) (“Skyharbour” or the “Company”) is pleased to report that its partner company Terra Clean Energy Corp. (“Terra”) is preparing to commence a targeted drill program on the Fraser Lakes B Uranium Deposit following up on the very encouraging results reported in the winter 2025 program. Skyharbour optioned the Project to Terra and under the Option Agreement, assuming the full
Map of South Falcon East Project Claims:
https://www.skyharbourltd.com/_resources/news/SkyHarbour_South_Falcon_East.jpg
Upcoming Summer 2026 Drill Program:
Terra is planning an extensive follow-up drill program for late summer of 2026, consisting of up to 2,500 meters of drilling. The purpose is to test an area highlighted in the winter 2025 program where it is interpreted that a north-northwest trending brittle structure, a north dipping structure with strong clay alteration, and mineralized pegmatites with hydrothermal hematite alteration hosted in graphitic pelitic gneiss all intersect. This puts many of the indicators identified as being key components for higher grade uranium mineralization all in the same location.
It is generally accepted that for higher-grade uranium deposits in the Athabasca Basin there are several key indicators: graphitic metasediments, brittle reactivated basement structures, reducing fluid (indicated by clay alteration), and oxidizing fluid (indicated by hematite alteration, transports uranium). All these features have now been identified in the Fraser Lakes B Summer Target Area. Where they are projected to intercept is considered a top-priority target area for the discovery of a higher-grade, unconformity-related basement hosted uranium deposit and additional mineralized pegmatites.
The upcoming program will be a helicopter supported drill program encompassing seven to ten diamond drill holes targeting an area approximately 120 to 150 m north of drill holes SF0063, SF0065, SF0066 and SF0067 which were completed during the winter program. The summer field program is anticipated to commence mid to late August. The campaign will be executed by Terralogic Exploration Inc. under the supervision of their staff and C. Trevor Perkins, Vice President, Exploration for Terra. Operations will be based out of a local contracting camp with helicopter support for the daily drilling operations. The expected budget for this program is anticipated to be CAD
2025 Completed and Historical Drilling at Fraser Lakes Zone B
https://www.skyharbourltd.com/_resources/news/2025-Completed-and-Historic-Drilling-Fraser-Lakes-Zone-B.png
“We are excited to get back in there and test where the clay alteration intersects the mineralized zone and graphitic sediment package,” commented Trevor Perkins, VP Exploration, Terra Clean Energy. “This is an exciting target as it can bring together many of the key features associated with the known basement hosted unconformity deposits in and around the Athabasca Basin”.
Terms of the Option Agreement:
Under a revised agreement, the outstanding requirements for Terra to earn a
On execution of the amendment: (a) Issuing Skyharbour Resources Ltd. (“Skyharbour”) 2,650,000 common shares; and (b) making a CAD
- On or before July 31, 2027, incurring an additional
$1,400,000 in work expenditures on South Falcon East (with$75,000 of such work expenditures to have been incurred on or prior to October 1, 2026) - On or before July 31, 2028: (a) incurring an additional
$1,000,000 in work expenditures on South Falcon East; (b) issuing Skyharbour$1,770,000 in common shares based on the VWAP calculated on the day of issuance; and (c) making a$1,700,000 cash payment to Skyharbour.
Upon having earned a
- On or before January 1, 2029, incurring an additional
$2,500,000 in work expenditures on South Falcon East; - On or before January 1, 2030: (a) incurring an additional
$3,500,000 in work expenditures on South Falcon East; (b) issuing Skyharbour$4,500,000 in common shares based on the VWAP calculated on the day of issuance; and (c) make a$2,000,000 cash payment to Skyharbour.
South Falcon East Project Summary:
The South Falcon East Project is a uranium exploration project in the southeast Athabasca Basin and represents a portion of Skyharbour’s former Falcon Point Project. The project covers approximately 12,464 hectares and is located 18 kilometres outside the Athabasca Basin, roughly 50 kilometres east of the Key Lake mill.
The project hosts the Fraser Lakes B Uranium-Thorium Deposit, which contains a historical inferred resource of 6.9 million pounds U₃O₈ at an average grade of
Qualified Person:
The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed and approved by Serdar Donmez, P.Geo., VP of Exploration for Skyharbour, as well as a Qualified Person.
About Terra Clean Energy Corp.:
Terra Clean Energy (formerly Tisdale Clean Energy Corp) is a Canadian-based uranium exploration and development company. The Company is currently developing the South Falcon East uranium project, which hosts an inferred uranium resource within the Fraser Lakes B uranium/thorium deposit, located in the Athabasca Basin region, Saskatchewan, Canada.
About Skyharbour Resources Ltd.:
Skyharbour holds an extensive portfolio of uranium exploration projects in Canada's Athabasca Basin and is well positioned to benefit from improving uranium market fundamentals with interest in forty-three projects covering over 662,887 hectares (1,638,029 acres) of land. Skyharbour owns a
Skyharbour now has joint ventures with industry-leaders Denison Mines and Orano Canada Inc. at the Russell Lake properties and the Preston project, respectively. The Company also has several active earn-in option partners, including CSE-listed Nexus Uranium Corp. at the Mann Lake Uranium Project; TSX-V listed North Shore Uranium at the Falcon Project; UraEx Resources at the South Dufferin and Bolt Projects; Hatchet Uranium at the Highway Project; CSE-listed Mustang Energy at the 914W Project; and TSX-V listed Terra Clean Energy at the South Falcon East Project. In aggregate, Skyharbour has now signed earn-in option agreements with partners that total to potentially over
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.
Skyharbour’s Uranium Project Map in the Athabasca Basin:
https://www.skyharbourltd.com/_resources/images/SKY_SaskProject_Locator_2025-12-16.jpg
To find out more about Skyharbour Resources Ltd. (TSX-V: SYH) visit the Company’s website at www.skyharbourltd.com.
SKYHARBOUR RESOURCES LTD.
“Jordan Trimble”
Jordan Trimble
President and CEO
For further information contact myself or:
Nicholas Coltura
Corporate Communications Manager
Skyharbour Resources Ltd.
Telephone: 604-558-5847
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: info@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.
Forward-Looking Information
This news release contains “forward‐looking information or statements” within the meaning of applicable securities laws, which may include, without limitation, completing ongoing and planned work on its projects including drilling and the expected timing of such work programs, other statements relating to the technical, financial and business prospects of the Company, its projects and other matters. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of uranium, the ability to achieve its goals, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms. Such forward-looking information reflects the Company’s views with respect to future events and is subject to risks, uncertainties and assumptions, including the risks and uncertainties relating to the interpretation of exploration results, risks related to the inherent uncertainty of exploration and cost estimates and the potential for unexpected costs and expenses, and those filed under the Company’s profile on SEDAR+ at www.sedarplus.ca. Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, adverse weather or climate conditions, failure to obtain or maintain all necessary government permits, approvals and authorizations, failure to obtain or maintain community acceptance (including First Nations), decrease in the price of uranium and other metals, increase in costs, litigation, and failure of counterparties to perform their contractual obligations. The Company does not undertake to update forward‐looking statements or forward‐looking information, except as required by law.
