Skyharbour Partner Company Terra Clean Energy Plans Summer Drill Program at the South Falcon East Uranium Project

Article content

Vancouver, BC, April 29, 2025 (GLOBE NEWSWIRE) — Skyharbour Resources Ltd. (TSX-V: SYH)
(OTCQX: SYHBF) (Frankfurt: SC1P) (“Skyharbour” or the “Company”) is pleased to announce that partner company Terra Clean Energy Corp. (“Terra”, previously Tisdale Clean Energy) announces an upcoming summer drill program at the South Falcon East Uranium Project (the “Property”) which hosts the Fraser Lakes B Uranium Deposit. The Property lies 18 km outside the edge of the Athabasca Basin, approximately 50 km east of the Key Lake Uranium Mill and former mine. Skyharbour optioned the Project to Terra and under the Option Agreement assuming the 75% interest is earned, Terra will fund exploration expenditures totaling CAD $10,500,000, as well as pay Skyharbour CAD $11,100,000 in cash of which $6,500,000 can be settled for shares in the capital of Terra (“Shares”) over the earn-in period.

Article content

Article content

Article content

Map of South Falcon East Project Claims:

Article content

Article content

Article content

Terra is planning an extensive drill program for the summer of 2025 consisting of approximately 2,500 metres of drilling. The purpose is to test an area highlighted in the Winter 2025 program where it is interpreted that a north-northwest trending brittle structure, a north dipping structure with strong clay alteration, and mineralized pegmatites with hydrothermal hematite alteration hosted in graphitic pelitic gneiss all intersect. This puts many of the indicators identified as being key components for higher grade uranium mineralization all in the same location.

Article content

It is generally accepted that for higher grade uranium deposits in the Athabasca Basin there are several key indicators including graphitic metasediments, brittle reactivated basement structures, reducing fluid (indicated by clay alteration), and oxidizing fluid (indicated by hematite alteration which transports uranium). All these features have now been identified in the Fraser Lakes B deposit area. Where they are projected to intercept is considered a top priority target area for the discovery of a higher-grade, unconformity related. basement hosted uranium deposit and additional mineralized pegmatites.

Article content

Article content

“The Athabasca Basin is one of the world’s foremost Uranium Basins accounting for some 20% of world uranium production. It has been well explored and understood for many years attracting billions of dollars of investment. For these reasons and the fact that our VP Exploration has worked extensively in the Basin and is excited about our findings that it is an immediate priority to follow up the very encouraging winter results this summer,” said Greg Cameron, CEO of Terra Clean Energy. “Finding an unconformity, basement-hosted deposit like Eagle Point or Rough Rider would be company changing,” added Greg Cameron.

Article content

The upcoming work will be a helicopter supported drill program including seven to ten diamond drill holes targeting an area approximately 120 to 150m north of drill holes SF0063, SF0065, SF0066 and SF0067 which were completed during the winter program. The initial results of these drill holes were reported in press releases dated March 10^th, 2025, and April 1^st, 2025, with final geochemical assays still pending. The summer field program is anticipated to commence in June and will be executed by TerraLogic Exploration Inc. under the supervision of TerraLogic staff and C. Trevor Perkins, Vice President, Exploration for Terra Clean Energy. Operations will be based out of a local contracting camp with helicopter support for the daily drilling operations. The expected budget for this program is anticipated to be $2.0 million.