21:30:03 EDT Mon 29 Apr 2024
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Skyharbour Resources hires Messina for IR services

2023-05-15 17:50 ET - News Release

Mr. Jordan Trimble reports

SKYHARBOUR RESOURCES ENGAGES MARKETING FIRM

Skyharbour Resources Ltd. has entered into a consulting agreement with Marco Messina, a German-based communications and media services provider, pursuant to which Mr. Messina will provide the company with investor relations services. The consulting agreement has a term of nine months, unless terminated earlier in accordance with its terms. The investor relations services provided by Mr. Messina will be in consulting with the company's management in building investor awareness of the company through Mr. Messina's network in Europe. The company has agreed to pay Mr. Messina a total initial cost of 85,000 euros upon the commencement of services. Mr. Messina is at arm's length from the company and Mr. Messina does not have any interest, direct or indirect, in the company or its securities. The company's engagement of Mr. Messina is subject to the acceptance of the TSX Venture Exchange.

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 24 projects, 10 of which are drill ready, covering over 504,356 hectares of land. Skyharbour has acquired from Denison Mines, a large strategic shareholder of the company, and 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. Adjacent to the Moore uranium project is Skyharbour's recently optioned Russell Lake uranium project from Rio Tinto, which hosts historical high-grade uranium 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 minority 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.

Skyharbour has several active option partners, including: Australian Securities Exchange-listed Valor Resources on the Hook Lake uranium project; Canadian Securities Exchange-listed Basin Uranium Corp. on the Mann Lake uranium project; and CSE-listed Medaro Mining Corp. on the Yurchison project. More recently, Skyharbour announced two new earn-in option agreements with Yellow Rocks Energy, a private Australian entity, to option the Wallee and Usam Island projects, and Tisdale Clean Energy at the South Falcon East project.

The company also owns a 100-per-cent interest in the South Falcon Point uranium project on the eastern perimeter of the basin, which is host to the Fraser Lakes Zone B uranium and thorium deposit. Skyharbour has recently optioned the South Falcon East project, a uranium project in the southeast Athabasca basin, and represents a portion of the larger South Falcon project, to Tisdale Clean Energy, whereby Tisdale will finance exploration, pay Skyharbour in cash and issue shares of the company over a five-year earn-in period.

Collectively, Skyharbour has now signed option agreements with partners that total over $34-million in partner-financed exploration expenditures, over $22-million in stock being issued and just under $15-million in cash payments coming into Skyharbour, assuming that these partner companies earn in the full amount at their respective projects.

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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