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

VANCOUVER, British Columbia, Nov. 09, 2017 (GLOBE NEWSWIRE) -- Skyharbour Resources Ltd. (TSX-V:SYH) (OTCQB:SYHBF) (Frankfurt:SC1P) (the "Company") is pleased to announce the Company's option partner AREVA Resources Canada Inc. ("AREVA Resources") has announced details for an upcoming exploration program at the Preston Lake Uranium Project located in the western Athabasca Basin near NexGen Energy Ltd.'s high-grade Arrow deposit hosted on its Rook-1 property and Fission Uranium Corp.'s Triple R deposit located within their PLS Project area.

Preston Uranium Project Claims Map:
http://skyharbourltd.com/_resources/maps/SYH_Patterson_Lake_Area_Promo ...

Skyharbour and Clean Commodities entered into an Option Agreement (the "Agreement") with AREVA Resources whereby AREVA Resources has an option to acquire up to a 70% working interest in the Preston Lake Uranium Project (see news release dated March 9th, 2017). Under the Agreement, AREVA Resources will contribute cash and exploration program considerations totaling up to CAD $8,000,000 in exchange for up to 70% of the project area over six (6) years with a first option where AREVA Resources may acquire an initial 51% working interest in Preston for a period of three (3) years by funding exploration expenditures in the total amount of $2,800,000 and making cash payments totaling $200,000 to Skyharbour and Clean Commodities.

Skyharbour's President and CEO, Jordan Trimble commented: "We are excited for the upcoming commencement of exploration and drilling programs by AREVA Resources at the Preston Lake Project. With a proposed CDN $2,000,000 budget over the next year we are looking forward to the findings this significant amount of exploration could yield as we work with our strategic partner to further advance the project. AREVA Resources has a very knowledgeable geological team with a long history in the Athabasca Basin which will help to unlock value at this strategic, district-scale property offering robust exploration upside potential. Skyharbour continues to execute on its key objectives by adding value to its project base in the Basin through ongoing mineral exploration at its flagship, high-grade Moore Uranium Project while utilizing the prospect generator model to advance its other projects with strategic partners."