Skyharbour Option Partner Azincourt Announces Upcoming Exploration Program at East Preston Uranium Property http://skyharbourltd.com/news-media/news/news-display/index.php?content_id=548
• Azincourt may earn a 70% interest in East Preston totaling 25,329 hectares, which represents the eastern region of the larger 107,278 hectare Preston Project through the upfront issuance of 4,500,000 shares as well as $3,500,000 of total project consideration over three years, including up to $2,500,000 of exploration work programs and $1,000,000 of cash payments to Skyhabour and Clean Commodities to be split equally.
• If carried to completion, a tripartite joint venture would be formed being 70% as to Azincourt and 30% as equally divided between Skyharbour and Clean Commodities.
• Azincourt’s initial exploration program is budgeted at $250,000 and is being planned for completion by the fall of 2017 to allow for future winter drill target testing.
• The Preston Uranium Project is one of the largest tenure positions in the Patterson Lake region and currently consists of 107,278 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.
• In addition to the Azincourt Agreement on the Preston East Property, Skyhabour recently announced that it signed an option agreement with AREVA Resources Canada whereby AREVA may earn up to a 70% interest in a separate 49,635 hectare portion of the Preston Project.