Skyharbour Option Partner AREVA Resources Canada Announces Upcoming Exploration Programs at Preston Uranium Property - Seite 3

Preston Lake Uranium Project Exploration Corridors and Proposed Ground Geophysics:
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The Dixon Lake Corridor (DLC) comprises two VTEM conductive trends dominantly oriented northeast-southwest. The FS target area located on the northeast edge of these VTEM trends is considered an area of interest and ground geophysical surveys, including the Max-Min method, were performed to define drill targets. The Max-Min survey identified three discrete conductors within a wide, approximately 800m, VTEM conductive area. Three historical holes drilled within the FS area tested one of the conductors and two holes, PN15004 and PN15005, encountered locally sheared graphitic and pyritic semi-pelite, whereas hole PN14009 was lost at 150m within a clay gouge. The intersected graphite confirmed the east-west trending conductor.

AREVA Resources' proposed ML-TEM survey on the FS area will investigate the possible extent of the conductor located near anomalous radioactivity found on a large granitic gneiss outcrop. Moderate to strong silicification and north-south trending narrow dark shear bands were noted on the outcrop. The FS grid will consist of three profiles of 1.2 km for total coverage of 3.6 line-kilometers and will require approximately 4 km of line-cutting.

Preston Lake Uranium Project Upcoming Winter 2018 Diamond Drilling Program:

AREVA Resources is planning a diamond drilling program consisting of 15 to 20 drill holes for a total of approximately 4,500 metres which is proposed in early 2018 for the Preston Lake project. Drilling will focus on areas of interest defined by the upcoming ground EM surveys within the Dixon Lake, Johnson Lake and FS areas, although additional areas, located east of highway 955 and historically identified as prospective, could also be tested by drilling. The estimated cost of the 2018 exploration program is CDN $2,000,000.

Overview of Preston Lake Uranium Project:

The significant potential of the Western Athabasca Basin has been highlighted by recent discoveries in the area by NexGen Energy Ltd. (Arrow), Fission Uranium Corp. (Triple R) and a joint-venture consisting of Cameco Corporation, AREVA Resources Canada Inc. and Purepoint Uranium Group Inc. (Spitfire). More than $4.7-million in expenditures on the entire Preston Uranium Project have been incurred to date. This exploration has consisted of ground gravity, airborne and ground electromagnetics, radon, soil, silt, biogeochemistry, lake sediment, and geological mapping surveys, as well as two exploratory drill programs. Several high-priority drill target areas associated with multiple prospective exploration corridors have been successfully delineated through this methodical, multiphased exploration initiative, which has culminated in an extensive, proprietary geological database for the project area.