Vancouver, BC, June 23, 2026 (GLOBE NEWSWIRE) -- Skyharbour Resources Ltd.(TSX-V:SYH) (OTCQX: SYHBF)(Frankfurt:SC1P) (“Skyharbour& or the “Company&) is pleased to announce that its joint venture partner, Orano Canada Inc. (“Orano Canada&), is planning a comprehensive 2026 exploration and drilling program at the 49,635-hectare Preston Lake Uranium Project (“Preston Lake& or the “Property&), located in the southwestern Athabasca Basin, Saskatchewan, Canada. The planned program will include a helicopter-borne Airborne Gravity Gradiometry (“AGG&) survey covering a high-priority corridor in the northern portion of the property, followed by a summer diamond drilling campaign totaling up to 3,500 metres.
Location Map of Preston Lake Project:
https://skyharbourltd.com/_resources/images/Sky_Preston-2025_12_08.jpg
The program is designed to build on the encouraging results from the past several years and advance a number of high-priority target areas across the property, particularly within the FSAN and Canoe Lake target areas, where drilling and geophysical surveys have identified prospective structural corridors and extensive alteration zones associated with graphitic metasedimentary rocks. Orano Canada is the majority owner with 79.2% and operator at the Project with Skyharbour holding the remaining 20.8% interest.
2026 Exploration Campaign at Preston Lake:
The proposed 2026 exploration campaign will be anchored by a large-scale Airborne Gravity Gradiometry (AGG) survey, which will fully cover a high-priority corridor in the northern portion of the property encompassing the FSAN and Canoe Lake grids, which emerged as two of the highest-priority target areas across the Property following the 2025 drilling program. Following a technical assessment, Orano Canada has elected to fly a helicopter-borne AGG system, which provides a lower survey height of approximately 35 metres and 100-metre line spacing with increased in-line sample density relative to a fixed-wing system. The survey is expected to take approximately two weeks to complete and is designed to identify discrete gravity-low features, faults, and structures across most of the claim area, with the objective of defining and refining high-quality drill targets for the summer program. To prioritize complete AGG coverage, the budget previously contemplated for ground gravity work has been re-allocated to the airborne survey, and detailed ground gravity surveys using tight station spacing of 25 by 25 metres or 50 by 50 metres are now planned for early 2027. This follow-up ground gravity work will be used to screen the AGG anomalies, help discriminate false positives such as localized overburden variations, and improve spatial resolution over prospective features in preparation for the 2027 summer drilling season.
2026 Program Overview Map:
https://www.skyharbourltd.com/_resourcesews/2026-Program-Overview-Map.png
A helicopter-supported diamond drilling program is expected to commence in July 2026 and will consist of up to 3,500 metres across roughly ten drill holes, averaging approximately 300 metres in depth, with certain holes potentially extending deeper depending on results. Similar to the successful approach used in 2025, drilling will be divided between direct testing of high-priority targets and systematic testing of broader graphitic conductive corridors and associated structural features prospective for uranium mineralization. Orano Canada anticipates that six to eight drill holes will focus on targeting within the northern FSAN area, testing four to six targets. These targets are characterized by segmented conductive signals coincident with localized magnetic and gravity lows along known trends of interest, including the FSA conductive corridor, which has returned the most anomalous uranium values intersected in drilling on the Property to date. The interpreted disruption and segmentation of the conductors may reflect faulting and enhanced structural complexity, features considered favourable for hydrothermal fluid flow and the development of unconformity-associated uranium mineralization in the Athabasca Basin.
An additional two to four holes are planned for the Area B conductive corridor, the final remaining large-scale conductive trend on the property that has yet to be drill tested, supported by five lines of complementary DC resistivity coverage collected in 2020. The drill results from this corridor will help determine whether further exploration should be focused along the trend.
The planned work is expected to significantly advance the geological understanding of the Preston Lake Project and generate new high-quality drill targets for future exploration, building on the extensive groundwork completed during 2024 and 2025.
Preston Lake Uranium Project:
In March 2017, Skyharbour signed an option agreement with Orano Canada (formerly AREVA Resources Canada Inc.), that provided Orano Canada an earn-in option to acquire a majority interest in the 49,635- hectare Preston Uranium Project. The significant potential of the Project has been highlighted by past discoveries in the area by NexGen Energy Ltd. (Arrow deposit), Paladin Energy (Triple R deposit, formerly owned by Fission Uranium Corp.), and F3 Uranium Corp. (PLN deposit). Exploration at the Project has consisted of ground gravity, airborne and ground electromagnetics, radon, soil, silt, biogeochem, lake sediment, and geological mapping surveys, as well as exploratory drill programs. Over a dozen high-priority drill target areas associated with multiple prospective exploration corridors have been successfully delineated through these methodical, multi-phased exploration initiatives, which have culminated in an extensive, proprietary geological database for the project area.
Qualified Person:
The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed and approved by Serdar Donmez, P.Geo., VP of Exploration for Skyharbour as well as a Qualified Person.
About Orano Canada Inc.:
Headquartered in Saskatoon, Saskatchewan, Orano Canada Inc. is a leading uranium producer with more than 60 years of experience in uranium exploration, mining, milling, and reclamation. The company maintains one of the largest uranium exploration portfolios in the Athabasca Basin and continues to invest in the discovery and development of future uranium resources to support the growing global demand for reliable, low-carbon nuclear energy.
In 2025, Orano Canada processed 19.8 million pounds of uranium concentrate at the McClean Lake uranium mill, a significant share of Canadian uranium production. Orano Canada operates the McClean Lake mill and is a key partner in several of Canada's premier uranium operations, including Cigar Lake, McArthur River, Key Lake, and McClean Lake.
Orano Canada is committed to responsible resource development. Orano Canada is advancing the SABRE (Surface Access Borehole Resource Extraction) mining method, an innovative technology designed to unlock high-grade uranium deposits with reduced surface disturbance and enhanced operational flexibility. The company also demonstrated its commitment to responsible resource development through the successful decommissioning and reclamation of the former Cluff Lake mine and mill, which was transferred to Saskatchewan's Institutional Control Program in 2023.
About Skyharbour Resources Ltd.:
Skyharbour holds an extensive portfolio of uranium exploration projects in Canada's Athabasca Basin and is well positioned to benefit from improving uranium market fundamentals with interests in forty-three projects covering over 662,887 hectares (over 1.6 million acres) of land. Skyharbour owns a 100% interest in the Moore Uranium Project, which is located 15 kilometres east of Denison's Wheeler River project and 39 kilometres south of Cameco's McArthur River uranium mine. Moore is an advanced-stage, uranium exploration property with high-grade, shallow uranium mineralization at the Maverick Zones. Adjacent to Moore, Skyharbour is advancing several uranium properties within the Russell Lake project area with its joint venture partner and large strategic shareholder Denison Mines. Collectively these projects host multiple zones of high-grade uranium mineralization across a highly prospective land package with significant exploration upside, and the Company is actively working these assets through exploration and drilling programs.
Skyharbour now has joint ventures with industry leaders Denison Mines Corp. and Orano Canada Inc. at the Russell Lake properties and the Preston project, respectively. The Company also has several active earn-in option partners, including CSE-listed Nexus Uranium Corp. at the Mann Lake Uranium Project; TSX-V listed North Shore Uranium at the Falcon Project; UraEx Resources at the South Dufferin and Bolt Projects; Future Fuels at the Highway Project; CSE-listed Mustang Energy at the 914W Project; and TSX-V listed Terra Clean Energy at the South Falcon East Project. In aggregate, Skyharbour has now signed earn-in option agreements with partners that total to potentially over $76 million in partner-funded exploration expenditures and over $45 million in cash and share payments coming into Skyharbour, assuming that these partner companies complete the earn-ins at their respective projects.
Skyharbour's objective is to maximize shareholder value through new mineral discoveries, committed long-term partnerships, and the advancement of exploration projects in geopolitically favourable jurisdictions.
Skyharbour&s Uranium Project Map in the Athabasca Basin:
https://www.skyharbourltd.com/_resources/images/SKY_SaskProject_Locator_2025-12-16.jpg
To find out more about Skyharbour Resources Ltd. (TSX-V: SYH) visit the Company&s website at www.skyharbourltd.com.
SKYHARBOUR RESOURCES LTD.
“Jordan Trimble&
Jordan Trimble
President and CEO
For further information contact myself or:
Nicholas Coltura
Corporate Communications Manager
Skyharbour Resources Ltd.
Telephone: 604-558-5847
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: [email protected]
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
Forward-Looking Information:
This news release contains “forward‐looking information or statements& within the meaning of applicable securities laws, which may include, without limitation, completing ongoing and planned work on its projects including drilling and the expected timing of such work programs, other statements relating to the technical, financial and business prospects of the Company, its projects and other matters. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of uranium, the ability to achieve its goals, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms. Such forward-looking information reflects the Company&s views with respect to future events and is subject to risks, uncertainties and assumptions, including the risks and uncertainties relating to the interpretation of exploration results, risks related to the inherent uncertainty of exploration and cost estimates and the potential for unexpected costs and expenses, and those filed under the Company&s profile on SEDAR+ at www.sedarplus.ca. Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, adverse weather or climate conditions, failure to obtain or maintain all necessary government permits, approvals and authorizations, failure to obtain or maintain community acceptance (including First Nations), decrease in the price of uranium and other metals, increase in costs, litigation, and failure of counterparties to perform their contractual obligations. The Company does not undertake to update forward‐looking statements or forward‐looking information, except as required by law.
