Mr. Jordan Trimble reports

SKYHARBOUR CLOSES $3.06 MILLION PRIVATE PLACEMENT OF FLOW-THROUGH UNITS

Skyharbour Resources Ltd. has closed a non-brokered private placement financing for total gross proceeds of $3,062,298.02. The majority of the private placement was subscribed for by strategic institutional investors. The company now has over $7.5-million in cash and equityholdings in other companies.

Skyharbour has allotted and issued 8,058,679 units at a price of 38 cents per unit. Each unit comprises one flow-through common share and one-half of one warrant. Each warrant will entitle the holder to purchase one non-flow-through common share for a period of three years at a price of 50 cents per share.

In addition, the company has paid finders' fees of $120,089.88 and issued 316,026 finder's warrants to Red Cloud Securities Inc. and $20,014.98 and issued 52,671 finder's warrants to Laurentian Bank Securities Inc., both arm's-length parties. Each finder's warrant is exercisable into one common share for a period of up to three years at a price of 50 cents.

The company intends to use the proceeds from this private placement for exploration and upcoming drilling programs. The private placement is subject to final TSX Venture Exchange approval and all securities issued are subject to a four-month-and-one-day hold period.

A portion of the private placement constitutes a related party transaction within the meaning of exchange Policy 5.9 and Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions, adopted in the policy. The company has relied on exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of related party participation in the private placement.

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 six drill-ready projects covering over 240,000 hectares of land. Skyharbour has acquired from Denison Mines, a large strategic shareholder of the company, a 100-per-cent 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 at the Maverick zone that returned drill results of up to 6.0 per cent U3O8 over 5.9 metres, including 20.8 per cent U3O8 over 1.5 metres at a vertical depth of 265 metres. The company has plans for upcoming drill programs at the project.

Skyharbour has now entered into a joint venture partnership with industry leader Orano Canada Inc. and has a joint venture partnership with Azincourt Energy. Orano recently earned 51 per cent of the Preston project and Azincourt recently earned 70 per cent of the East Preston project through exploration expenditures, cash payments and the issuance of Azincourt shares. Preston and East Preston are large, geologically prospective properties proximal to Fission Uranium's Triple R deposit as well as NexGen Energy's Arrow deposit.

The company owns a 100-per-cent interest in the South Falcon uranium project on the eastern perimeter of the basin, which contains a National Instrument 43-101 inferred resource totalling 7.0 million pounds of U3O8 at 0.03 per cent and 5.3 million pounds of ThO2 at 0.023 per cent. Furthermore, Skyharbour has recently signed a definitive agreement with Australian Securities Exchange-listed Valor Resources on the Hooke Lake (previously North Falcon Point) uranium project, whereby Valor can earn 80 per cent of the project through $3.5-million in total exploration expenditures, $475,000 in total cash payments over three years and an initial share issuance.

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.

We seek Safe Harbor.