Skyharbour Update on Summer Drill and Field Programs, Assessment Credit Relief Granted for All Projects in the Athabasca Basin

VANCOUVER, British Columbia, July 27, 2015 (GLOBE NEWSWIRE) -- Skyharbour Resources Ltd. (TSX-V:SYH) (OTC Grey:SYHBF) (Frankfurt:SC1N) (the "Company") is pleased to provide an update on its fully-funded, summer exploration programs and announces that the government of Saskatchewan has granted regulatory relief to the Company with respect to all four of its drill-ready uranium projects in Northern Saskatchewan.

Skyharbour's Uranium Project Portfolio in the Athabasca Basin:

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Summer 2015 Exploration Programs at Preston and Falcon Point Uranium Projects:

At the Preston Uranium Project, strategically located proximal to Fission Uranium Corp.'s shallow, high-grade Triple R deposit as well as NexGen Energy Ltd.'s Arrow discovery, Skyharbour and the Western Athabasca Syndicate are planning a summer exploration and diamond drill program to commence in August. The results from the most recently-completed geophysical surveys, combined with exploration results from previous field work, are being used to prioritize and refine targets for a planned drill program at Preston. Details of this summer exploration and drill program are forthcoming with Skyharbour as the operator of the project.

The Western Athabasca Syndicate has carried out one of the largest regional exploration programs in the underexplored SW region of the Athabasca Basin. A total of approx. $4.2 million in expenditures on the Preston Uranium Project has been incurred including ground gravity, airborne and ground EM and magnetics, radon, soil, silt, biogeochem, lake sediment, and geological mapping surveys, as well as boulder prospecting and a nine hole exploratory diamond drill program. As a result of this multi-million dollar exploration program, fifteen high-priority drill target areas associated with eight prospective exploration corridors have been successfully delineated using a methodical, multi-phased exploration technique. In addition, the Syndicate holds an extensive, proprietary geological database for the project area as a byproduct of its substantial exploration work over the past twenty months.

Preston Uranium Property Map and Regional Exploration Corridors:

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Skyharbour has also commenced a follow-up field program at its 100% owned, 79,003 hectare Falcon Point Uranium and Thorium Property located 55 kilometres east of the Key Lake Mill. This program will consist of detailed prospecting and vegetation/soil sampling at the Hook Lake target area where historical exploration returned high grade uranium grab samples with up to 48% U3O8 from a massive pitchblende vein exposed at surface. Previous operators have been unable to definitively explain and locate the source of the high grade uranium and thorium mineralization at the Hook Lake target. News will be forthcoming on this program as it is completed over the next few weeks.