Mr. Jordan Trimble reports

SKYHARBOUR SIGNS DEFINITIVE AGREEMENT WITH PURECORE TO OPTION ITS YURCHISON URANIUM PROPERTY IN THE ATHABASCA BASIN

Further to the news release dated July 16, 2026, Skyharbour Resources Ltd. has entered into a definitive option agreement dated July 29, 2026, with Purecore Metals Inc., whereby Purecore may acquire an option to earn an up-to-100-per-cent interest in the Yurchison uranium property located in the Wollaston domain of Northern Saskatchewan, Canada. The property consists of 22 claims covering approximately 35,029 hectares of mineral tenure.

Highlights:

• Large land position with 22 claims covering approximately 35,029 hectares in Saskatchewan's Athabasca basin;
• Project has excellent access and is located approximately 75 kilometres south of Cameco's Rabbit Lake operation, with Highway 905 crossing the property;
• Project is underlain by Wollaston supergroup metasedimentary gneisses, including graphitic units adjacent to Archean granitic gneisses;
• Extensive historical work, with exploration including geophysical surveys, prospecting, mapping, sampling and drilling;
• Historical mineralization at the project with samples returning uranium values of 0.09 per cent to 0.30 per cent triuranium octoxide and molybdenum values of 2,500 to 6,400 parts per million;
• Prospective for uranium, uranium/thorium/rare earth elements and copper/lead/zinc mineralization;
• Most work was completed before 2000, with limited follow-up across much of the property;
• Modern geophysical data, including airborne electromagnetic, magnetic and radiometric surveys, were completed in 2022 and 2023;
• Option agreement consists of combined project consideration of $350,000 in cash, $700,000 in stock and $3.5-million in exploration expenditures over three years for Purecore to earn a 70-per-cent interest;
• One-time cash and share payment totalling $6-million for Purecore to earn 100 per cent with Skyharbour retaining a royalty.

Jordan Trimble, president and chief executive officer of Skyharbour, commented: "We are very pleased to sign this new option agreement as we continue to execute on our dual-pronged corporate strategy by unlocking value at our Athabasca basin project portfolio through strategic partnerships and prospect generation, as well as focused mineral exploration at our core assets of Moore and Russell. We are looking forward to working with Purecore Metals and its capable management team as they advance the Yurchison project over the coming years with a considerable amount of exploration planned as well as cash and share payments to Skyharbour. The project is ripe for new potential discoveries and updates will be forthcoming on exploration plans at Yurchison which will complement our ongoing 2026 drill campaigns at various other projects in our portfolio."

Peter Berdusco, president and chief executive officer of Purecore, commented: "We are very pleased to be working with Skyharbour and greatly value the opportunity to advance the Yurchison property. Global electricity demand is accelerating as AI, data centres and broader electrification place increasing pressure on power grids. We believe nuclear energy will play an increasingly important role in meeting this demand, strengthening the long-term outlook for uranium. Yurchison gives Purecore meaningful exposure to this powerful energy transition through a large, accessible and underexplored uranium property in the world's premier uranium jurisdiction -- the Athabasca basin."

Transaction summary

Under the terms of the option agreement, Purecore may acquire an initial 70-per-cent right, title and interest in and to the property, subject to a 2.0-per-cent net smelter return royalty retained by Skyharbour, by making cash payments to Skyharbour totalling $350,000, issuing common shares of Purecore, having an aggregate value of $700,000, and incurring a minimum of $3.5-million in exploration expenditures on the property, all in accordance with the following schedule.

Immediately upon satisfying all of the above conditions, Purecore will be deemed to have exercised the option and to have earned a 70-per-cent interest in and to the property, subject to the NSR royalty.

Purecore may earn an additional 30-per-cent interest in the property, for a total 100-per-cent interest and subject to the NSR royalty, by making an additional cash payment to Skyharbour of $3-million and issuing additional consideration shares having a value of $3-million (based on the 20-day volume-weighted average price at the time of issuance, subject to the minimum pricing rules of the Canadian Securities Exchange and the 10-per-cent ownership clause), within 30 business days of earning the initial 70-per-cent interest. In the event that Purecore earns the initial 70-per-cent interest in the property and elects not to acquire the additional 30-per-cent interest, the parties may form a joint venture in respect of the property on terms to be agreed, with each party participating in proportion to its respective interest.

Purecore also has the right at any time to purchase one-half of the NSR royalty (being a 1.0-per-cent NSR) from Skyharbour in consideration of a payment of $1-million to Skyharbour.

The transactions contemplated under the option agreement are subject to conditions, including the approval of the board of directors of each of Skyharbour and Purecore, no material adverse change having occurred to the business of either party, and the receipt of all necessary regulatory approvals. All consideration shares issued under the option agreement will be subject to a four-month hold period from the date of issuance in accordance with applicable securities laws and the policies of the CSE.

Yurchison property summary

Yurchison consists of 22 claims covering approximately 35,029 hectares of mineral tenure and is roughly 75 kilometres south of Cameco's Rabbit Lake operation, with Highway 905 running through the claims. It is underlain by Wollaston supergroup metasedimentary gneisses, including psammopelitic to pelitic gneisses, graphitic pelitic gneisses adjacent to Archean granitic gneisses in the eastern Wollaston domain.

The property area has seen significant historical exploration including airborne electromagnetic, magnetic and radiometric surveys, as well as ground magnetic, EM, induced polarization and gravity surveys, prospecting, geological mapping, geochemical sampling, and drilling. The drilling was primarily conducted between the 1960s and 1980s with additional work completed in the mid-1990s and 2000s. Prospecting near old trenches returned uranium (0.09 per cent to 0.30 per cent U3O8) and molybdenum (2,500 ppm to 6,400 ppm) mineralization in both outcrop and float samples. The property boasts strong discovery potential for both basement-hosted uranium mineralization and copper, zinc and molybdenum mineralization.

The majority of the work at Yurchison was completed before 2000, with limited follow-up since, and most of the property remains underexplored. The historical exploration on the western side of Yurchison focused on uranium showings while, on the eastern side of the property, it was largely focused on exploring sedimentary-exhalative-style lead-zinc mineralization following the discovery of the historic George Lake Pb-Zn deposit proximal to the property. There are several uranium, molybdenum and thorium showings, which remain highly prospective for both basement-hosted uranium, pegmatite-hosted uranium/thorium/rare earth element and sediment-hosted copper-lead-zinc mineralization. The most recent work included airborne EM (VTEM and VLF-EM), magnetics and radiometrics surveys flown in 2022 and 2023.

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 Serdar Donmez, PGeo, vice-president of exploration for Skyharbour, as well as a qualified person.

About Purecore Metals Inc.

Purecore is a mineral exploration company listed on the Canadian Securities Exchange and the Frankfurt Stock Exchange. Purecore is focused on advancing the materials that power modern energy systems and emerging technologies. Purecore is building a critical mineral portfolio aligned with long-term trends across the energy, technology and defence sectors, with a strategy centred on high-impact opportunities and disciplined execution.

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 interest in 44 projects covering over 682,100 hectares (1.69 million acres) of land. Skyharbour owns 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 highlighted by 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 Moore, Skyharbour is advancing several uranium properties within the broader Russell Lake project area with its joint venture partner and large strategic shareholder Denison Mines. Collectively, these co-flagship projects host multiple zones of high-grade uranium mineralization across a highly prospective land package with significant exploration upside, and the company is actively working these assets through exploration and drilling programs.

Skyharbour has joint ventures with industry leaders Denison Mines and Orano Canada Inc. at the Russell Lake properties and the Preston project, respectively. The company also has several active earn-in option partners, including Canadian Securities Exchange-listed Nexus Uranium Corp. at the Mann Lake uranium project; TSX Venture Exchange-listed North Shore Uranium at the Falcon project; UraEx Resources at the South Dufferin and Bolt projects; Future Fuels at the Highway project; CSE-listed Mustang Energy at the 914W project; and TSX-V-listed Terra Clean Energy at the South Falcon East project. In aggregate, Skyharbour has signed earn-in option agreements with partners that total potentially over $79-million in partner-financed exploration expenditures and over $52-million in cash and share payments coming into Skyharbour, assuming that these partner companies complete the earn-ins 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.