06:15:39 EDT Sat 20 Apr 2024
Enter Symbol
or Name
USA
CA



Skyharbour Resources Ltd (3)
Symbol SYH
Shares Issued 144,303,762
Close 2022-09-29 C$ 0.47
Market Cap C$ 67,822,768
Recent Sedar Documents

Skyharbour begins trading on OTCQX Best Market

2022-09-30 10:24 ET - News Release

Mr. Jordan Trimble reports

SKYHARBOUR BEGINS TRADING ON THE OTCQX IN THE UNITED STATES

Skyharbour Resources Ltd. has qualified to trade on the OTCQX Best Market. Skyharbour upgraded to OTCQX from the OTCQB Venture Market. Skyharbour begins trading today on OTCQX under the symbol SYHBF.

The OTCQX market is designed for established, investor-focused U.S. and international companies. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance and demonstrate compliance with applicable securities laws. Graduating to the OTCQX market from the OTCQB market marks an important milestone for companies, enabling them to demonstrate their qualifications and build visibility among U.S. investors.

Skyharbour's president and chief executive officer Jordan Trimble commented: "Skyharbour has rapidly grown as a business in the last couple of years, emerging as a premier uranium exploration company with a significant project portfolio in the Athabasca basin of Northern Saskatchewan, Canada. With the recent resurgence in positive sentiment around nuclear energy as the world transitions from carbon-intensive energy sources to low-carbon sources, Skyharbour is well positioned to benefit from higher uranium prices and improving market fundamentals. Upgrading to OTCQX provides American investors with greater accessibility to trading the company's common shares and gives the company a much more robust potential shareholder and capital base."

U.S. investors can find current financial disclosure and real-time Level 2 quotes for the company on the OTC Markets website.

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 15 projects, 10 of which are drill-ready, covering over 450,000 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 per cent U3O8 (triuranium octoxide) over 5.9 metres, including 20.8 per cent U3O8 over 1.5 metres at a vertical depth of 265 metres. Adjacent to the Moore uranium project is Skyharbour's recently optioned Russell Lake uranium project from Rio Tinto, which hosts historical high-grade drill intercepts over a large property area with robust exploration upside potential. The company is actively advancing these projects through exploration and drill programs.

Skyharbour has a joint venture with industry leader Orano Canada Inc. at the Preston project whereby Orano has earned a 51-per-cent interest in the project through exploration expenditures and cash payments. Skyharbour now owns a 24.5-per-cent interest in the project. Skyharbour also has a joint venture with Azincourt Energy at the East Preston project whereby Azincourt has earned a 70-per-cent interest in the project through exploration expenditures, cash payments and share issuance. Skyharbour now owns a 15-per-cent interest in the project. 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. Furthermore, the company owns a 100-per-cent interest in the South Falcon Point uranium project on the eastern perimeter of the basin, which contains a National Instrument 43-101 inferred resource totalling seven million pounds of U3O8 at 0.03 per cent and 5.3 million pounds of ThO2 (thorium dioxide) at 0.023 per cent.

Skyharbour has several active option partners including: Australian Securities Exchange-listed Valor Resources on the Hook Lake uranium project whereby Valor can earn in 80 per cent of the project through $3.5-million in exploration expenditures, $475,000 in cash payments over three years and an initial share issuance; Canadian Securities Exchange-listed Basin Uranium Corp. on the Mann Lake uranium project whereby Basin Uranium can earn in 75 per cent of the project through $4-million in exploration expenditures, $850,000 in cash payments as well as share issuances over three years; and CSE-listed Medaro Mining Corp. on the Yurchison project whereby Medaro can earn in an initial 70 per cent of the project through $5-million in exploration expenditures, $800,000 in cash payments as well as share issuances over three years followed by the option to acquire the remaining 30 per cent of the project through a payment of $7.5-million in cash and $7.5-million worth of shares.

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.

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