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Skyharbour Resources Ltd (SYHBF)

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LINKEDIN: Keep up with Skyharbour Resources Ltd...

Athabasca Basin, Saskatchewan, Canada

Fission Uranium Corp.  (TSX-V: FCU)

Cameco Corporation  (TSX: CCO)

Denison Mines Corp.  (TSX: DML)


Nexgen Energy  (TSX: NXE)

Verified Company Profile 11/14/2016
Contact Info

777 Dunsmuir Street
Suite 1610
Vancouver, BC V7Y 1K4

Phone: 604-687-3376

Business Description

Skyharbour Resources (TSX-V: SYH) is a preeminent uranium and thorium exploration Company with projects located in the prolific Athabasca Basin of Saskatchewan, Canada which is one of the most favourable jurisdictions globally to work in. The Company has been acquiring top tier exploration projects at attractive valuations culminating in five uranium properties totalling over 250,000 hectares throughout the Basin. Skyharbour recently secured an option from Denison Mines (TSX: DML), a large shareholder of the Company, to acquire a 100% interest in the Moore Lake Uranium Project which hosts the high grade Maverick Zone where previous drilling returned 4.03% U3O8 over 10 metres at 265 metres depth. In addition to the Maverick Zone, the project hosts other mineralized targets with strong discovery potential which the Company plans to test in an upcoming drill program. Skyharbour also intends to employ the prospect generator model to monetize and fund exploration at its other projects in the Basin. These projects include the Falcon Point uranium and thorium project which hosts an NI 43-101 uranium resource as well as the Preston project strategically located proximal to NexGen Energy and Fission Uranium's high grade uranium deposits in the Patterson Lake region. 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 Announces Binding Term Sheet to Option up to 70% of a Portion of the Preston Uranium Project for up to $8 Million in Project Consideration

December 15, 2016

Vancouver, BC - Skyharbour Resources Ltd. (TSX-V: SYH) (OTCQB: SYHBF) (Frankfurt: SC1P) (the “Company”), in conjunction with Preston Uranium Project partner Clean Commodities Corp. (“Clean Commodities”) (TSX-V: CLE), is pleased to announce the signing of a binding term sheet (the “Term Sheet”) with a uranium company (the “Partner”) which provides that the parties will work to negotiate a definitive option agreement that, if entered into by March 15th, 2017, would provide the Partner an option to acquire up to a 70% working interest in a portion of the Preston Uranium Project (the “Preston Segment”). In consideration for the 70% interest, the Partner would be required to spend up to CAD $8 million consisting of cash payments to the Company and Clean Commodities and accelerating exploration programs.

Preston Uranium Project Claims Map:

Skyharbour’s President and CEO, Jordan Trimble commented: “We are very pleased and excited to have the potential opportunity to work with a new partner to further advance the central portion of the Preston Uranium Project. The Preston Project is a strategic, district-scale property with robust exploration upside potential throughout and is located near recent high grade discoveries in the Patterson Lake area including NexGen’s Arrow deposit, Fission’s Triple R deposit, and the Spitfire discovery. The signing of this Term Sheet is a significant milestone for Skyharbour as the Company continues to value-add its project base in the Athabasca Basin through focused mineral exploration as well as the prospect generator model and associated strategic partnerships.”  

Highlights of the Binding Term Sheet:

  • Outlines the general terms of a potential Definitive Agreement whereby the Partner may earn up to a 70% interest in the Preston Segment totaling 52,428 hectares of the total 121,148 hectare Preston Project through $8 million of total project consideration over six years, including up to $7,300,000 of exploration work programs and $700,000 of cash payments.
    If carried to completion, a three-way joint venture would form allocated as to 70% Partner and 30% to be jointly split between Skyharbour and Clean Commodities.
    Skyharbour and Clean Commodities would continue to retain ownership (50% / 50%) of the balance of the Preston Uranium Project consisting of a further 68,720 hectares of minerals claims contiguous to the Preston Segment optioned to the Partner.
    The Preston Uranium Project is one of the largest tenure positions in the Patterson Lake region and currently consists of 121,148 hectares strategically located near NexGen Energy Ltd.’s high grade Arrow deposit hosted on its Rook-1 property and Fission Uranium Corp.’s Triple R deposit located within their PLS Project area.

Preston Uranium Property Map and Regional Exploration Corridors:

The significant potential of the Western Athabasca Basin has been highlighted by recent discoveries in the area by NexGen Energy Ltd. (Arrow), Fission Uranium Corp. (Triple R) and a joint-venture consisting of Cameco Corporation, AREVA Resources Canada Inc. and Purepoint Uranium Group Inc. (Spitfire). Through its involvement in the Western Athabasca Syndicate and the Preston Uranium Project, the Company has been involved in a large regional exploration program in the relatively under-explored southwestern side of the Athabasca Basin since 2013. In excess of $4.7 million in expenditures on the Preston Uranium Project have been incurred to-date including ground gravity, airborne and ground EM and magnetics, radon, soil, silt, biogeochem, lake sediment, and geological mapping surveys, as well as two exploratory drill programs. Fifteen high-priority drill target areas associated with six prospective exploration corridors have been successfully delineated through this methodical, multi-phased exploration initiative which has culminated in an extensive, proprietary geological database for the project area.

The Term Sheet was signed by all parties on December 14th, 2016 and represents an arm’s length transaction with no finder’s fees being paid.

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 Richard Kusmirski, P.Geo., M.Sc., Skyharbour’s Head Technical Advisor and a Director, as well as a Qualified Person. 

About Skyharbour Resources Ltd.:

Skyharbour holds an extensive portfolio of uranium and thorium exploration projects in Canada's Athabasca Basin and is well positioned to benefit from improving uranium market fundamentals with five drill-ready projects. In July 2016, Skyharbour acquired an option from Denison Mines to acquire 100% of the Moore Lake Uranium Project which is located 20 kilometres east of Denison’s Wheeler River project and 39 kilometres south of Cameco’s McArthur River mine. Moore Lake is an advanced stage uranium exploration property with over $30 million in historical exploration, 370 diamond drill holes, and a high-grade uranium zone known as the Maverick Zone with drill results including 4.03% eU3O8 over 10 metres at a vertical depth of 265 metres. The Company owns a 100% interest in the Falcon Point (formerly Way Lake) Uranium Project on the eastern perimeter of the Basin which hosts an NI 43-101 inferred resource totaling 7.0 million pounds of U3O8 at 0.03% and 5.3 million pounds of ThO2 at 0.023%. The project also hosts a high grade surface showing with up to 68% U3O8 in grab samples from a massive pitchblende vein, the source of which has yet to be discovered. Skyharbour also has a 50% interest in the large, geologically prospective Preston Uranium Project proximal to Fission Uranium’s Triple R deposit as well as NexGen Energy’s Arrow deposit. The Company’s 100% owned Mann Lake Uranium project on the east side of the Basin is strategically located adjacent to the Mann Lake Joint Venture operated by Cameco, where high-grade uranium mineralization was recently discovered. 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:

To find out more about Skyharbour Resources Ltd. (TSX-V: SYH) visit the Company’s website at


“Jordan Trimble”
Jordan Trimble
President and CEO

For further information contact myself or:
Nick Findler
Corporate Development and Communications
Skyharbour Resources Ltd.
Telephone: 604-687-3850
Toll Free: 800-567-8181
Facsimile: 604-687-3119


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. 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, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at for further information.

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SYHBF News: Amended Small Company Offering and Sale of Securities Without Registration (d/a) 06/27/2017 12:52:07 PM
SYHBF News: Small Company Offering and Sale of Securities Without Registration (d) 05/02/2017 02:05:02 PM
SYHBF News: Skyharbour Intersects 20.8% U3O8 over 1.5 Metres in First Drill Hole at Maverick Zone and Discovers New High Grade Uranium Lens 02/27/2017 12:04:23 PM
SYHBF News: Skyharbour Discovers Highest Levels of Radioactivity at Swoosh Target and Drilling to Recommence at Preston Uranium Property 05/06/2014 08:00:00 AM
SYHBF News: Skyharbour Discovers Highest Levels of Radioactivity at Swoosh Target and Drilling to Recommence at Preston Uranium Property 05/06/2014 08:00:00 AM
#150   Why Uranium spiked today Akula42 11/10/17 12:03:23 AM
#149   Know what you own: Best SYHBF Interview I Akula42 06/09/17 02:19:21 PM
#148   CEO Interview: “We’re in the Early Days of Akula42 06/05/17 11:23:32 AM
#147   Industry Experts Optimistic About Uranium Market Akula42 06/03/17 09:13:12 PM
#146   Stock Catalyst Report on SYBH Akula42 06/02/17 05:46:13 PM
#145   R.Rule: "last bottom bought 5 juniors ,worst return Akula42 06/01/17 01:51:10 PM
#144   Spot Uranium prices have taken a dive Akula42 06/01/17 01:40:09 PM
#143   What happened here? Hulk Hogan is God 06/01/17 12:57:53 PM
#142   SYHBF CEO Radio Interview: Exceeded Expectations and Next Steps Akula42 05/25/17 09:19:28 AM
#141   News: Skyharbour Intersects High Grade Uranium in Multiple Akula42 05/23/17 07:36:21 AM
#140   Yes. A few folks (Included myself) have been Akula42 05/16/17 11:26:02 PM
#139   News: Skyharbour Announces and Closes $600,000 Private Placement Akula42 05/16/17 11:18:41 PM
#138   creeping up up up! ListenToMe 05/16/17 06:05:50 PM
#137   SYHBF CEO Interview: Uranium Exploration and Opportunity in Akula42 05/15/17 02:05:57 PM
#136   Syhbf is a sneaky one. Hard to figure ListenToMe 05/11/17 10:06:59 AM
#135   SYHBF News! Skyharbour Option Partner Azincourt Announces Upcoming TPX 05/10/17 11:32:55 AM
#134   News: Skyharbour Option Partner Azincourt Announces Upcoming Exploration Akula42 05/10/17 08:59:53 AM
#133   Some big volume today and the pps is jd19 05/04/17 03:21:46 PM
#132   What does that mean? jd19 05/03/17 10:00:10 AM
#131   Small Company Offering and Sale of Securities Without ListenToMe 05/03/17 06:27:22 AM
#130   Good stuff.... Very positive things happening for Skyharbour. ListenToMe 04/20/17 06:56:30 AM
#129   Uranium Prices: Will Europe Warm Up to Nuclear Power? Akula42 04/19/17 07:27:09 PM
#128   Skyharbour now fully funded for uranium drilling program Akula42 04/19/17 07:19:17 PM
#127   CEO Interview @resourcestockdigeste Akula42 04/19/17 07:11:03 PM
#126   ONCE IN A LIFETIME!... That's the way I ListenToMe 04/18/17 07:12:43 PM
#125   Yes, even more bullish are some of the Akula42 04/18/17 02:30:57 PM
#124   SYHBF just announced another private placement over $2Mil. ListenToMe 04/18/17 02:21:36 PM
#123   Perry orders grid plan to boost coal, nuclear Akula42 04/17/17 06:50:23 PM
#122   Yes, I attended the Vancouver Resource Investment Conference Akula42 04/13/17 12:54:26 AM
#121   Here's another one ListenToMe 04/12/17 06:44:17 PM
#120   .... Better Buy these cheapies now! SYHBF Is ListenToMe 04/11/17 05:27:56 PM
#119   Uranium is starting to rally. Keep an ListenToMe 04/11/17 11:14:03 AM
#118   Great article Akula42 04/11/17 09:26:17 AM
#117   Uranium Is Finally Taking off in 2017 ListenToMe 04/11/17 06:52:28 AM
#116   SmallCap-Investor (German) Interview with CEO  Akula42 04/05/17 12:22:58 AM
#115   It's about to get crazy in the URANIUM ListenToMe 03/29/17 02:23:25 PM
#114   The High-Court in Japan Orders a Restart on Akula42 03/29/17 02:03:42 PM
#113   CEO Interview: SYHBF Continues to make deals Akula42 03/29/17 01:31:59 PM
#112   $2,000,000 Private placement for SYHBF. ListenToMe 03/29/17 12:18:17 PM
#111   Wheelin and dealin! Skyharbour is really making some ListenToMe 03/28/17 04:28:09 PM
#110   News: Partnership with Azincourt Uranium Akula42 03/28/17 10:16:03 AM
#109   Excellent article! Akula42 03/22/17 10:21:23 PM
#108   There seem to be an increasing number of ListenToMe 03/22/17 06:29:22 PM
#107   Nuclear ‘Batteries’ for Towns and Industry... ListenToMe 03/22/17 04:59:12 PM
#106   Uranium Price: Will US Demand Growth Provide More Support? Akula42 03/22/17 01:11:16 AM
#105   New Nuclear Reactors Could Soon Be Built In Kentucky Akula42 03/22/17 01:10:29 AM
#104   Something amazing is in store for SYHBF and ListenToMe 03/21/17 06:15:11 PM
#103   Great news TPX! I believe we will now ListenToMe 03/21/17 06:13:41 PM
#102   Nice update. Exceeding expectations continues. Akula42 03/21/17 09:42:37 AM
#101   SYHBF News! Skyharbour Expands Current Drill Program from TPX 03/21/17 08:59:41 AM