Skyharbour Intersects 20.8% U3O8 over 1.5 Metres in First Drill Hole at Maverick Zone and Discovers New High Grade Uranium Lens on Moore Lake Uranium Project; Increases Planned Drill Program from 3...

Skyharbour Intersects 20.8% U3O8 over 1.5 Metres in First Drill Hole at Maverick Zone and Discovers New High Grade Uranium Lens on Moore Lake Uranium Project; Increases Planned Drill Program from 3,500m to 4,500m

VANCOUVER, British Columbia, Feb. 27, 2017 (GLOBE NEWSWIRE) -- Skyharbour Resources Ltd. (TSX-V:SYH) (OTCQB:SYHBF) (Frankfurt:SC1P) (the "Company") is pleased to announce the first drill hole of the 2017 winter exploration program on the Moore Lake Uranium Project (the "Project") intersected high grade uranium mineralization within the Main Maverick Zone lens. Hole ML-199 returned geochemical assays of 20.8% U₃O₈ over 1.5 metres from 264.0 to 265.5 metres downhole, with corresponding handheld spectrometer counts of 27,500 to 57,000 counts per second ("cps"). This high grade interval occurred within a broader zone of anomalous radioactivity as identified by downhole probing. A combined geochemical and grade equivalent for the hole returned 6.0% U₃O₈ over 5.9 metres from 261.6 to 267.5 metres.

Moore Lake Uranium Project Claims Map:
http://skyharbourltd.com/_resources/maps/MooreLakeRegionalTenure.jpg

Highlights:

• The first drill hole, ML-199, tested the Main Maverick Zone lens and intersected high grade uranium mineralization containing 6.0% U₃O₈ over 5.9 metres, from 261.6 to 267.5 metres depth including 20.8% U₃O₈ over 1.5 metres from 264.0  to 265.5 metres.
• The second hole, ML-200, returned a grade equivalent of 1.7% eU₃O₈ over 7.2 metres from 269.1 to 276.3 metres including 3.3% eU₃O₈  over 4.6 metres from 269.2 to 273.8 metres; the latter interval corresponds with spectrometer values ranging from 1,100 to 29,400 cps.
• Hole ML-202 also intersected high grade uranium mineralization including 5.6% eU₃O₈ over 1.8 metres from 274.2 to 275.7 metres downhole within a 10.7 metre mineralized interval from 266.6 to 277.3 metres that returned 1.4% eU₃O₈; notably, this hole potentially represents the discovery of a new high grade mineralized lens on the property.
• The early success of the drill program has prompted the Company to expand the program from 3,500m to 4,500m; the drill program is currently underbudget and progressing smoothly.

Jordan Trimble, President and CEO of Skyharbour Resources, states: "The preliminary results from early in this first phase of drilling at Moore have far exceeded our expectations and I would like to congratulate our geological team on their work thus far. The presence of high grade uranium mineralization in the first hole ML-199 is highly encouraging as well as the notable mineralization in hole ML-202 which appears to be the discovery of a new, high grade mineralized lens along strike from the Main Maverick Zone. The target areas in and around the Maverick Zone are relatively shallow and continue to provide strong discovery potential as we look to value-add the project using a systematic and proven exploration methodology. The early success of the program has prompted Skyharbour to expand the planned drill program from 3,500m to 4,500m with the program currently underbudget. The Company is fully funded to complete this drill program and will provide updates as results become available."