Skyharbour Resources: Skyharbour Resources: Advancing high-grade uranium projects in Saskatchewan’s prolific Athabasca Basin

Skyharbour enters 2026 with a strong treasury and is fully funded for its largest annual exploration program to date. Combined partner-funded and company-funded drilling across the portfolio is expected to exceed 30,000 metres, providing multiple opportunities for discovery and consistent news flow.

Skyharbour controls a significant portfolio of uranium exploration properties across northern Saskatchewan, one of the most stable and mining-friendly jurisdictions globally. Canada consistently ranks among the top jurisdictions for mining investment, offering strong infrastructure, regulatory clarity, and geopolitical stability.

Skyharbour’s flagship projects, including Russell Lake and Moore Lake, host multiple high-priority targets with geological characteristics similar to nearby uranium deposits. Ongoing drilling is designed to test these targets and potentially deliver new discoveries in one of the most prospective uranium regions globally.

Skyharbour provides investors with a unique combination of high-impact exploration upside and a risk-mitigated business model through its prospect generator strategy, strategic partnerships, and diversified project portfolio.

• New Discoveries: Skyharbour will continue advancing new uranium discoveries at its 100% owned high-grade Moore Lake Project, building on more than 5,000 metres drilled in 2024 and an additional 7,800 metres completed in 2025. High-grade mineralization at the Maverick Zone remains the primary focus, with follow-up drilling aimed at extending and expanding known structures to drive near-term, discovery-focused news flow. Beyond Moore, Skyharbour completed over 9,500 metres of drilling in 2025, along with multiple geophysical surveys across priority targets within the original Russell Lake project area. In 2026, Skyharbour and new joint venture partner Denison plan an aggressive, multi-phase exploration program across the reorganized Russell Lake Joint Venture properties, totaling more than 15,000 metres of diamond drilling.

  
  

• Ongoing drill results from Russell & Moore: Regular assay results expected through the 2026 programs, providing near-term updates and potential discovery momentum. At Wheeler North, Denison has started the first phase of a planned 7,500 metre program targeting Fox Lake Trail, with additional drilling planned later in 2026 at Fork and Sphinx. Several of Skyharbour’s partner companies are expected to be active in 2026, adding to the news flow and catalysts.

• Takeover Potential: Skyharbour owns one of the largest and most diversified project portfolios in the world’s highest-grade uranium jurisdiction, increasing its strategic appeal in a strengthening uranium market. Consolidation at Russell Lake and multi-asset alignment with Denison Mines improve portfolio coherence, while stronger partner commitments, including Orano’s expanded 2026 plans at Preston, add depth that can enhance long-term M&A optionality.

• Denison-Funded Multi-Year Exploration at Russell Lake: Denison Mines’ entry as a strategic partner unlocks a multi-year, partner-funded exploration runway at Russell Lake, with up to CAD $60.5 million committed to drilling, technical work, and cash payments. An expanded, multi-property drill campaign planned for 2026 is expected to accelerate discovery and advance priority targets, while limiting equity dilution.

• Expansion of JV-funded programs across the portfolio: Additional partner-led exploration campaigns could extend funded drilling into new project areas without incremental capital from Skyharbour.

• Continued Drilling at Russell Lake: Continued drilling at Russell Lake is expected to remain a core driver of long-term news flow, supported by multi-year, partner-funded exploration programs and sustained joint-venture spending beyond the current cycle.

• Resource definition and scale-up potential: Sustained drilling success at Russell Lake and Moore could support future resource growth and longer-term development optionality.

Skyharbour Resources faces significant exploration risks, with no guarantee of discovering economically viable mineral deposits. This uncertainty can lead to substantial financial losses if projects do not yield expected results, making it a high-risk investment for those seeking returns from successful exploration.

Changes in mining regulations or environmental laws can impact Skyharbour’s operations and project timelines. Compliance with new regulations may require additional expenditures or operational adjustments, potentially delaying projects and increasing costs, thereby affecting the company’s overall profitability and operational efficiency.

The company’s net asset value is closely tied to uranium prices. Fluctuations in these prices can significantly impact financial health and growth potential of Skyharbour. Investors should consider this volatility when investing in uranium equities, which have historically been led by the uranium spot price. Despite the voaltile nature of uranium, it has outperformed the broad commodities index pover the past 5 years.