Purecore signs uranium property option deal with Skyharbour

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.

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

Under the agreement, Purecore can 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 earned interest is subject to a 2.0% net smelter return royalty held by Skyharbour.

Purecore may then acquire the remaining 30% interest by making an additional 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 elects not to acquire the additional 30%, the parties may form a joint venture. Purecore also holds the right to purchase half of the NSR royalty for $1,000,000.

Historical exploration at the property, conducted primarily between the 1960s and 1990s, returned uranium values of 0.09% to 0.30% U₃O₈ and molybdenum values of 2,500 to 6,400 parts per million. Airborne geophysical surveys were completed in 2022 and 2023.

The transaction remains subject to board approvals from both companies and regulatory approval, including acceptance by the Canadian Securities Exchange. All consideration shares issued under the agreement will carry a four-month hold period.

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