Skyharbour Partner Company Terra Clean Energy Announces Immediate Follow-Up Summer Drill Program on the Back of Drill Results from Winter Program at South Falcon East Uranium Project

Rhea-AI Summary

Skyharbour Resources (OTCQX: SYHBF) partner Terra Clean Energy has announced significant results from its Winter 2025 drill program and plans for an immediate follow-up summer program at the South Falcon East Uranium Project. The winter program yielded notable intersections, including 18.1 metres at 0.03% U3O8 with higher-grade subintervals.

The upcoming summer program will consist of 2,500 metres of drilling with a C$2 million budget, targeting areas where key uranium mineralization indicators intersect. The project, located 18km outside the Athabasca Basin, hosts the Fraser Lakes B Uranium Deposit with a historical resource of 6.9 million pounds U₃O₈ at 0.03% U₃O₈.

Positive

• None.

Negative

• Overall uranium grades remain relatively low at 0.03% U3O8 compared to typical high-grade Athabasca deposits

Vancouver, BC, July 21, 2025 (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”, previously Tisdale Clean Energy) announces results from its Winter 2025 drill program and provides an update on the upcoming summer drill program at the South Falcon East Uranium Project (the “Property”), which hosts the Fraser Lakes B Uranium Deposit. The Property lies 18 km outside the edge of the Athabasca Basin, approximately 50 km east of the Key Lake mill and former mine. Skyharbour optioned the Project to Terra, and under the Option Agreement, assuming the 75% interest is earned, Terra will fund exploration expenditures totaling CAD $10,500,000, as well as pay Skyharbour CAD $11,100,000 in cash, of which $6,500,000 can be settled for shares in the capital of Terra (“Shares”) over the earn-in period.

Map of South Falcon East Project Claims:
https://skyharbourltd.com/_resources/maps/Sky_SouthFalconEast_20250109.jpg?v=1

Winter 2025 Assay Results:

Terra conducted a helicopter-supported drill program at the South Falcon East Property earlier in the year. Seven diamond drill holes were completed at the Fraser Lakes B Uranium Deposit, for a total of 1,927 metres. The initial results of these drill holes were reported in press releases dated March 10, 2025, and April 1, 2025. During the winter drill program, 682 samples were submitted for geochemical analysis at the Geoanalytical Laboratory at the Saskatchewan Research Council in Saskatoon, Saskatchewan. Results have been received and compiled, with the results presented in Table 1.   

Results highlight several wide zones of uranium mineralization in holes SF0063, SF0065, SF0066, and SF0067, which were drilled to test an inferred NW-SE trending fault cutting through the Fraser Lakes B Uranium Deposit (Figure 2). The easternmost hole, SF0065, returned 18.1 metres at 0.03% U₃O₈, including a subinterval of 0.12% U₃O₈ over 1.6 metres. Another interval within this hole returned 0.13% U₃O₈ over 0.51 metres within a 3.72 metres interval that ran 0.09% U₃O₈. The northernmost hole, SF0067, returned 3.87 metres at 0.05% U₃O₈, including a subinterval of 0.17% U₃O₈ over 0.5 metres. This 0.5-metre interval represents the best sample of the program. Another interval within this hole returned 0.03% U₃O₈ over 8.05 metres, with 0.16% U₃O₈ over a 0.5 metre interval within. The best intersections of the program, which are some of the better intersections for both grade and width within the deposit, remain open to the north and the east.

When compared with previously released equivalent uranium (%eU₃O₈) results from the downhole gamma logging, the lab results typically highlight wider intervals of mineralization with higher grades than those identified by the probe. It is not unexpected or unusual for the lab results to be higher than the equivalent gamma results. The variation can be on average, +5% to +30% higher.

Table 1: Winter 2025 Results from the Fraser Lakes B Deposit at the South Falcon East Uranium Project:
https://www.skyharbourltd.com/_resources/news/Table_1_Winter_2025_U3O8_results_from_the_Fraser_Lakes_B_Deposit_at_the_South_Falcon_East_Uranium_Pr.png

The typical pathfinder elements used to vector towards uranium in the Basin, including cobalt (Co), nickel (Ni), copper (Cu), lead (Pb), and zinc (Zn), all appear elevated within the metasedimentary package hosting the mineralized pegmatites, particularly Co and Ni. Elevated Pb is closely associated with elevated uranium. Hole SF0067 contains some of the higher pathfinder values, indicating another vector towards the north.

“The results from the winter drilling program are very encouraging”, commented Trevor Perkins, Vice President of Exploration for Terra. “The thick mineralized intersections within the pegmatites and graphitic sediment package are a good sign. The fact that the grades are improving to the north along the NW fault shows that we are moving in the right direction for a higher-grade discovery”, continued Mr. Perkins.

“These are some of the best drill results to date at South Falcon,” said Greg Cameron, CEO of Terra. “The drills returned multiple hits, and an 18-metre run of uranium at the established grade of the deposit is a significant and positive development. Several holes returned higher-grade values, including as much as 466 percent greater than the deposit average. These results indicate our plan to increase the size and grade of the deposit is both sound and compelling. Drilling will continue almost immediately, and we’re excited to see what the next phase reveals,” continued Mr. Cameron.

Upcoming Summer 2025 Drill Program:

Terra is planning an extensive follow-up drill program this summer, consisting of approximately 2,500 metres 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 places 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, you require 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 deposit area. The location 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 mineralization and additional mineralized pegmatites.

The upcoming program will be a helicopter-supported drill program comprising seven to ten diamond drill holes targeting an area approximately 120 to 150 metres north of drill holes SF0063, SF0065, SF0066 and SF0067, which were completed during the winter program (Figure 2). The summer field program is anticipated to commence soon and the campaign will be executed by TerraLogic Exploration Inc. under the supervision of C. Trevor Perkins, Vice President of Exploration for Terra Clean Energy. Operations will be based out of a local contracting camp with helicopter support for the daily drilling activities. The expected budget for this program is anticipated to be C$2 million.

Figure 2: Planned Summer Drilling Area and Completed Winter Drill Holes at South Falcon East Uranium Project:
https://www.skyharbourltd.com/_resources/images/Planned-summer-drilling-area-completed-winter-drill.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, Vice President of Exploration for Terra. “This is an exciting target as it brings together many of the key features associated with the known basement hosted unconformity deposits in and around the Athabasca Basin”, continued Mr. Perkins.

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 Resources Ltd.’s former South Falcon 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 0.03% U₃O₈ and 5.3 million pounds ThO₂ at 0.023% ThO₂. Mineralization is hosted in shallow, structurally disrupted metasedimentary rocks and pegmatites, displaying Athabasca-style basement-hosted characteristics and occurring in association with well-defined EM conductors.

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 thirty-six projects covering over 614,000 hectares (over 1.5 million acres) of land. Skyharbour has acquired from Denison Mines, a large strategic shareholder of the Company, a 100% interest in the Moore Uranium Project, which is located 15 kilometres east of Denison's Wheeler River project and 39 kilometres south of Cameco's McArthur River uranium mine. Moore is an advanced-stage uranium exploration property with high-grade uranium mineralization in several zones at the Maverick Corridor. Adjacent to the Moore Project is the Russell Lake Uranium Project, in which Skyharbour is the operator with joint-venture partner RTEC. The project hosts widespread uranium mineralization in drill intercepts over a large property area with exploration upside potential. The Company is actively advancing these projects through exploration and drilling programs.

Skyharbour also has joint ventures with industry leader Orano Canada Inc., Azincourt Energy, and Thunderbird Resources at the Preston, East Preston, and Hook Lake Projects, respectively. The Company also has several active earn-in option partners, including CSE-listed Basin 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 over $36 million in partner-funded exploration expenditures, over $20 million worth of shares being issued, and $14 million in cash payments coming into Skyharbour, assuming that these partner companies complete their entire earn-ins at the respective projects.

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_2024-11-21_v1.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
Investor Relations Manager
Skyharbour Resources Ltd.
Telephone: 604-558-5847
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: info@skyharbourltd.com

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The securities offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor in any other jurisdiction.

This release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements, including the Private Placement. Although management 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 or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, regulatory approvals, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.

FAQ

What were the key results from SYHBF's Winter 2025 drill program at South Falcon East?

The program's best results included an 18.1-metre intersection at 0.03% U3O8, with higher-grade subintervals of 0.12% U3O8 over 1.6 metres, and multiple mineralized zones in holes SF0063, SF0065, SF0066, and SF0067.

What is the size of SYHBF's planned Summer 2025 drill program at South Falcon East?

The summer program will consist of 2,500 metres of drilling with a C$2 million budget, comprising 7-10 diamond drill holes targeting areas 120-150 metres north of previous winter drill holes.

What is the current resource estimate for SYHBF's Fraser Lakes B Uranium Deposit?

The Fraser Lakes B Deposit has a historical inferred resource of 6.9 million pounds U₃O₈ at an average grade of 0.03% U₃O₈ and 5.3 million pounds ThO₂ at 0.023% ThO₂.

What are the terms of Terra Clean Energy's option agreement with SYHBF for South Falcon East?

Terra must fund CAD $10.5 million in exploration and pay Skyharbour CAD $11.1 million (of which $6.5M can be paid in shares) to earn a 75% interest in the project.

Where is SYHBF's South Falcon East Project located?

The project is located 18 kilometers outside the Athabasca Basin, approximately 50 kilometers east of the Key Lake mill and former mine, covering 12,464 hectares.