Skyharbour Announces Drilling Underway and Renewed Permit at the High-Grade Moore Lake Uranium Project, Saskatchewan
Vancouver, BC, April 01, 2026 (GLOBE NEWSWIRE) -- Skyharbour Resources Ltd. (TSX-V: SYH) (OTCQX: SYHBF) (Frankfurt: SC1P) (“Skyharbour” or the “Company”) is pleased to announce that drilling is underway for the first phase of the campaign this year at its 100%-owned, 35,705 hectare Moore Uranium Project (“Moore” or the “Project”), located approximately 15 kilometres east of Denison Mines’ Wheeler River project in the eastern Athabasca Basin, Saskatchewan. Skyharbour has also received a renewed three-year drill permit at the Project valid through March 2029.
Moore Uranium Project Location Map:
https://skyharbourltd.com/_resources/images/SkyHarbour_Moore.jpg?v1
Skyharbour has commenced its multi-phased 2026 drill campaign at Moore, which is planned to total 8,000 to 10,000 metres of diamond drilling at the Maverick Trend and other regional targets. The Phase I program that is underway is expected to consist of approximately 4,000 to 5,000 metres in 10 to 12 drill holes.
The Company recently completed 58.3 line-kilometres of ground Step Loop Transient Electromagnetic (“SLTEM”) survey coverage earlier this year, extending existing ground geophysical coverage by 2 kilometres to the southwest along the broader 12-kilometre-long Maverick Trend. This structural corridor coincides with intense hydrothermal alteration and structural disruption intersected during 2025 exploration drilling at the new Nomad target. The survey refined existing targets and delineated additional EM conductors for drill testing along the interpreted Nomad structural trend. In parallel with field activities, Skyharbour has also engaged SMCG Services to undertake advanced data integration and AI-assisted prospectivity modelling to further refine and prioritize drill targeting across the Moore Project.
EM Grid Coverage and the Newly Interpreted Conductors at Nomad Target:
https://skyharbourltd.com/_resources/news/2026-Moore-Lake-Nomad-SLTEM-v4.jpg
This Phase I drilling program is initially focused on the Nomad Zone where drilling is testing priority gravity anomalies and newly delineated EM conductors along the Nomad structural corridor. Follow-up drilling is also planned at the Esker target area to the northeast where the Company will evaluate the potential strike extension of mineralization intersected in historical drill hole ML-165, which returned 1.21% U3O8 over 0.5 metres at the unconformity.
In addition, this phase of drilling will include expansion drilling at the Maverick Zones, targeting the largely untested basement-hosted potential associated with previously intersected high-grade mineralization. Drilling is also planned at the Nutana target where historical drilling intersected strong dravite alteration and graphitic basement conductors that remain inadequately tested due to wide drill spacing.
Target Zone Summaries:
The Nomad Zone was identified in 2025 following the reprocessing and reinterpretation of a historical 2005 ground gravity survey, which outlined a previously unrecognized structural corridor along the broader Maverick Trend. The zone lies approximately 1.7 kilometres west-southwest of the Main Maverick Zone along the interpreted Maverick structural corridor, and prior to 2025 the area had seen very little drilling. Drilling completed in 2025 intersected strongly faulted, desilicified and locally silicified sandstone above the unconformity, and intensely altered basement rocks below, including pervasive silicification and hematization of pelitic gneiss and localized graphitic units.
Results from the 2025 program at Nomad confirmed the presence of a broad, structurally controlled hydrothermal system characterized by pervasive faulting, strong clay alteration, and significant silicification affecting both sandstone and basement lithologies. The scale and intensity of alteration, together with associated conductors, indicate a fertile corridor analogous to that hosting mineralization at Maverick. Both unconformity and basement-hosted targets remain largely untested along strike to the southwest.
The Esker Zone target is located approximately 3 kilometres northeast of Maverick along the same interpreted structural corridor. Historical drill hole ML-165 returned 1.21% U3O8 over 0.5 metres at the unconformity. Historical drilling encountered graphitic conductors with pronounced faulting, and clay–hematite alteration characteristic of unconformity-related uranium systems. The northeast strike extension of the ML-165 mineralization remains largely untested beneath lake cover. The Phase I 2026 drill program will test prioritized EM and resistivity anomalies interpreted to lie along strike of the ML-165 mineralized structure, as well as untested conductors northeast along trend.
The Nutana Zone is situated within a structurally controlled corridor proximal to Maverick and remains relatively underexplored. Historical drilling intersected multiple graphitic conductors below the unconformity, accompanied by strong bleaching, localized limonitic sandstone alteration, and strong dravitic clay development. Dravite is widely regarded as a proximal alteration mineral in Athabasca Basin uranium systems and is commonly associated with both unconformity and basement-hosted high-grade uranium deposits throughout the basin.
Basement lithologies at Nutana consist of structurally disrupted pelitic to granodioritic gneisses with quartz flooding, and extensive shearing. Weakly elevated radioactivity and fault-controlled alteration confirm an active hydrothermal system. Historical drilling tested this corridor with wide spacing, and structural and geophysical characteristics indicate mineralization potential along strike.
Data Integration and Targeting Enhancement Using AI:
Skyharbour has engaged SMCG Services, led by Drew Heasman, a geoscientist and data scientist specializing in advanced mineral targeting and integrated exploration analytics. Mr. Heasman is an internationally recognized award recipient, including the 2024 Future Explorers Challenge (Dundee Precious Metals / Humyn.ai) and the 2022 Frank Arnott: Next Generation Explorers Award.
At the Moore Project, SMCG Services will undertake regional- to project-scale prospectivity mapping and data-driven anomaly detection, integrating geological, geochemical, geophysical, structural, and PIMA clay mineral data into a unified targeting framework. The objective is to systematically identify and prioritize exploration trends and under-evaluated target areas across the broader Maverick Trend and associated structural corridors. This work will complement ongoing drilling and geophysical programs and is designed to enhance targeting efficiency and support future drill campaign planning.
Moore Uranium Project Overview:
In June 2016, Skyharbour secured an option to acquire Denison Mine's Moore Uranium Project, on the southeastern side of the Athabasca Basin, in northern Saskatchewan and has since fulfilled its earn-in. The project consists of 12 contiguous claims totaling 35,705 hectares located 42 kilometres northeast of the Key Lake mill, approx. 15 kilometres east of Denison’s Wheeler River project, and 39 kilometres south of Cameco’s McArthur River uranium mine. Unconformity-hosted uranium mineralization was discovered on the Moore Project at the Maverick Zone with historical drill highlights consisting of 4.03% eU3O8 over 10 metres, including 20% eU3O8 over 1.4 metres, in ML-161. In 2017, Skyharbour announced drill results of 6.0% U3O8 over 5.9 metres, including 20.8% U3O8 over 1.5 metres at a vertical depth of 265 metres, in hole ML-199. More recently, 2025 drilling at the Main Maverick Zone returned 4.84% U3O8 over 4.4 metres, including 11.77% U3O8 over 1.6 metres in hole ML25-15, further confirming the continuity of high-grade unconformity-related mineralization.
Moore Uranium Project Regional Grid Targets Map:
http://skyharbourltd.com/_resources/maps/Moore-Lake-Property-Wide.jpg
In addition to the Main and East Maverick Zones, the project hosts other mineralized targets with strong discovery potential which the Company plans to test with future drill programs. The project is fully accessible via winter and ice roads which simplifies logistics and lowers costs. Large proportions of the property are accessible in the summer as well.
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, P.Geo., VP of Exploration for Skyharbour, as well as a Qualified Person.
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 forty-three projects covering over 662,887 hectares (1,638,029 acres) of land. Skyharbour owns a 100% 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% U3O8 over 5.9 metres, including 20.8% 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 now 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 CSE-listed Nexus Uranium Corp. at the Mann Lake Uranium Project; TSX-V listed North Shore Uranium at the Falcon Project; UraEx Resources at the South Dufferin and Bolt Projects; Hatchet Uranium 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 now signed earn-in option agreements with partners that total to potentially over $76 million in partner-funded exploration expenditures and over $42 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.
Skyharbour’s Uranium Project Map in the Athabasca Basin:
https://www.skyharbourltd.com/_resources/images/SKY_SaskProject_Locator_2025-12-16.jpg
To find out more about Skyharbour Resources Ltd. (TSX-V: SYH) visit the Company’s website at www.skyharbourltd.com.
SKYHARBOUR RESOURCES LTD.
“Jordan Trimble”
Jordan Trimble
President and CEO
For further information contact myself or:
Nicholas Coltura
Corporate Communications Manager
Skyharbour Resources Ltd.
Telephone: 604-558-5847
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: info@skyharbourltd.com
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
Forward-Looking Information
This news release contains “forward‐looking information or statements” within the meaning of applicable securities laws, which may include, without limitation, completing ongoing and planned work on its projects including drilling and the expected timing of such work programs, other statements relating to the technical, financial and business prospects of the Company, its projects and other matters. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of uranium, the ability to achieve its goals, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms. Such forward-looking information reflects the Company’s views with respect to future events and is subject to risks, uncertainties and assumptions, including the risks and uncertainties relating to the interpretation of exploration results, risks related to the inherent uncertainty of exploration and cost estimates and the potential for unexpected costs and expenses, and those filed under the Company’s profile on SEDAR+ at www.sedarplus.ca. Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, adverse weather or climate conditions, failure to obtain or maintain all necessary government permits, approvals and authorizations, failure to obtain or maintain community acceptance (including First Nations), decrease in the price of uranium and other metals, increase in costs, litigation, and failure of counterparties to perform their contractual obligations. The Company does not undertake to update forward‐looking statements or forward‐looking information, except as required by law.
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