Purecore options Skyharbour uranium property in Athabasca Basin

Purecore Metals Inc. (CSE: PURE, FSE: J8Y) has signed a definitive option agreement dated July 29, 2026, with Skyharbour Resources Ltd. (TSXV: SYH) to acquire up to a 100% interest in the Yurchison uranium property in the Athabasca Basin of Northern Saskatchewan, Canada, according to a press release from the company.

The Yurchison property consists of 22 mineral claims covering approximately 35,029 hectares, located roughly 75 kilometers south of Cameco's Rabbit Lake operation, with Highway 905 crossing the property.

Under the agreement, Purecore may earn an initial 70% interest by paying Skyharbour a total of $350,000 in cash, issuing common shares valued at $700,000, and incurring at least $3,500,000 in exploration expenditures over three years. The property will carry a 2.0% net smelter return royalty held by Skyharbour.

Purecore may then acquire an additional 30% interest, bringing its total to 100%, by making a further cash payment of $3,000,000 and issuing shares valued at $3,000,000 within 30 business days of earning the initial 70% stake. If Purecore declines the additional 30%, the parties may form a joint venture based on their respective interests. Purecore also has the right to purchase half of the NSR royalty for $1,000,000.

Historical exploration at Yurchison, conducted primarily between the 1960s and 1990s, included geophysical surveys, mapping, sampling, and drilling. Prospecting returned uranium values of 0.09% to 0.30% U₃O₈ and molybdenum values of 2,500 to 6,400 ppm. Airborne geophysical surveys were completed in 2022 and 2023.

The agreement is subject to board approvals from both companies and regulatory approval, including from the CSE. Consideration shares issued under the agreement will be subject to a four-month hold period.

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