Skyharbour Resources closes $5.25 million private placement

Skyharbour Resources Ltd. (TSX-V: SYH) (OTCQX: SYHBF) announced it closed a non-brokered private placement raising CAD $5,250,389.10 in gross proceeds. The Vancouver-based uranium exploration company issued 9,052,395 flow-through shares at CAD $0.58 per share to strategic institutional investors.

The flow-through shares qualify for the federal 30% Critical Mineral Exploration Tax Credit under Canada's Income Tax Act. Skyharbour will use the funds for its 2026 exploration campaign, including drilling at its Russell Lake and Moore Lake uranium projects in Saskatchewan's Athabasca Basin.

The company paid CAD $300,022.81 in cash finder's fees to an arm's-length party. The transaction requires final approval from the TSX Venture Exchange, and all securities are subject to a four-month-and-one-day statutory hold period.

Skyharbour holds interests in 43 uranium exploration projects covering over 662,887 hectares in the Athabasca Basin. The company owns 100% of the Moore Uranium Project, located 15 kilometers east of Denison's Wheeler River project and 39 kilometers south of Cameco's McArthur River uranium mine.

The Moore project has recorded drill results of up to 6.0% U3O8 over 5.9 meters, including 20.8% U3O8 over 1.5 meters at 265 meters vertical depth at the Maverick Zone. Skyharbour also operates joint ventures with Denison Mines at the Russell Lake properties and with Orano Canada Inc. at the Preston project.

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