Skyharbour Signs Letter of Intent with Purecore to Option its Yurchison Uranium Property in the Athabasca Basin

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Skyharbour Resources (OTCQX: SYHBF) has signed a non-binding letter of intent dated July 15, 2026 with Purecore Metals for an option on up to a 100% interest in the Yurchison uranium property in the Wollaston Domain, Northern Saskatchewan. The property comprises 22 claims covering about 35,029 hectares and lies roughly 75 km south of Cameco’s Rabbit Lake operation, intersected by Highway 905.

According to Skyharbour, Yurchison has extensive historical exploration, including airborne and ground geophysical surveys, mapping, geochemical sampling, and drilling from the 1960s through the 2000s. Prospecting near old trenches returned uranium grades of 0.09% to 0.30% U3O8 and molybdenum of 2,500 ppm to 6,400 ppm in outcrop and float samples, with multiple uranium, molybdenum and thorium showings. Recent airborne EM, magnetic and radiometric surveys were flown in 2022–2023. Completion of the transaction is subject to due diligence by Purecore, a binding definitive agreement, board approvals from both companies, and required regulatory approvals. Technical information was reviewed by Qualified Person Serdar Donmez, P.Geo.

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Vancouver, BC, July 16, 2026 (GLOBE NEWSWIRE) -- Skyharbour Resources Ltd. (TSX-V: SYH) (OTCQX: SYHBF) (Frankfurt: SC1P) (“Skyharbour” or the “Company”) is pleased to announce that the Company has entered into a non-binding letter of intent (the “LOI”) dated July 15^th, 2026, with Purecore Metals Inc. (CSE: PURE) (“Purecore”) to option up to a 100% interest in the Yurchison uranium property located in the Wollaston Domain of Northern Saskatchewan, Canada (the “Property”).  The Property consists of 22 claims covering approximately 35,029 hectares of mineral tenure.

Yurchison Property Summary:

Yurchison is roughly 75 km south of Cameco’s Rabbit Lake operation, with Highway 905 running through the claims. It is underlain by Wollaston Supergroup metasedimentary gneisses, including psammopelitic to pelitic gneisses, graphitic pelitic gneisses adjacent to Archean granitic gneisses in the Eastern Wollaston Domain.

The Property area has seen significant historical exploration including airborne electromagnetic, magnetic, and radiometric surveys, as well as ground magnetic, EM, IP, and gravity surveys, prospecting, geological mapping, geochemical sampling, and drilling. The drilling was primarily conducted between the 1960’s and 1980’s with additional work completed in the mid-1990’s and 2000’s. Prospecting near old trenches returned uranium (0.09% to 0.30% U₃O₈) and molybdenum (2,500 ppm to 6,400 ppm) mineralization in both outcrop and float samples. The Property boasts strong discovery potential for both basement-hosted uranium mineralization as well as copper, zinc and molybdenum mineralization.

The majority of the work at Yurchison was completed before 2000, with limited follow-up since, and most of the Property remains underexplored. The historical exploration on the western side of Yurchison focused on uranium showings while on the eastern side of the Property it was largely focused on exploring SEDEX-style Pb-Zn mineralization following the discovery of the historic George Lake Pb-Zn Deposit proximal to the Property. There are several uranium, molybdenum, and thorium showings, which remain highly prospective for both basement-hosted uranium, pegmatite-hosted U-Th-REE, and sediment-hosted Cu-Pb-Zn mineralization. The most recent work included airborne EM (VTEM and VLF-EM), magnetics, and radiometrics surveys flown in 2022 and 2023.

Transaction Summary:

Following the signing of the LOI, the parties have agreed to negotiate in good faith the terms of the transaction and settle the terms of the mineral property option agreement (the “Definitive Agreement”). The transaction is subject to conditions, including satisfactory completion of due diligence by Purecore, the entering into a binding Definitive Agreement, the approval of the board of directors of each of Skyharbour and Purecore, and receipt of all necessary regulatory approvals.

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 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 interests in forty-three projects covering over 662,887 hectares (over 1.6 million acres) of land. Skyharbour owns 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, shallow uranium mineralization at the Maverick Zones. Adjacent to Moore, Skyharbour is advancing several uranium properties within the Russell Lake project area with its joint venture partner and large strategic shareholder Denison Mines. Collectively these projects host multiple zones of high-grade uranium mineralization across a highly prospective land package with significant exploration upside, and the Company is actively working these assets through exploration and drilling programs.

Skyharbour now has joint ventures with industry leaders Denison Mines Corp. 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; Future Fuels 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 $76 million in partner-funded exploration expenditures and over $45 million in cash and share payments coming into Skyharbour, assuming that these partner companies complete the earn-ins at their respective projects.

Skyharbour's objective 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.

               

FAQ

What did Skyharbour Resources (SYHBF) announce about the Yurchison uranium property on July 16, 2026?

Skyharbour Resources announced a non-binding LOI with Purecore Metals to option up to a 100% interest in the Yurchison uranium property. According to Skyharbour, finalizing the deal requires due diligence, a definitive agreement, board approvals, and all necessary regulatory approvals.

Where is Skyharbour’s Yurchison uranium property located and how large is it?

The Yurchison property is in the Wollaston Domain of Northern Saskatchewan, about 75 km south of Cameco’s Rabbit Lake operation. According to Skyharbour, it consists of 22 mineral claims covering approximately 35,029 hectares, with Highway 905 running through the claims area.

What historical uranium and molybdenum grades were reported at Skyharbour’s Yurchison property (SYHBF)?

Prospecting near old trenches returned uranium grades between 0.09% and 0.30% U3O8 and molybdenum from 2,500 ppm to 6,400 ppm. According to Skyharbour, these results came from both outcrop and float samples and support the property’s broader uranium and polymetallic exploration potential.

What conditions must be met before Skyharbour and Purecore complete the Yurchison option agreement?

The transaction must pass several conditions, including satisfactory due diligence by Purecore, signing a binding definitive agreement, and board approvals from both companies. According to Skyharbour, it also requires receipt of all necessary regulatory approvals before any option on the Yurchison property becomes effective.

Who is the Qualified Person for Skyharbour’s Yurchison uranium project technical information?

The Qualified Person is Serdar Donmez, P.Geo., Skyharbour’s VP of Exploration. According to Skyharbour, Donmez reviewed and approved the technical information in accordance with Canadian National Instrument 43-101, which governs disclosure standards for mineral project exploration and scientific data.