Skyharbour Partner Company Tisdale Clean Energy Mobilizes Crew and Equipment for Phase One Drill Program at the South Falcon East Uranium Project, Athabasca Basin, Saskatchewan

Vancouver, BC, Feb. 20, 2024 (GLOBE NEWSWIRE) -- Skyharbour Resources Ltd. (TSX-V: SYH) (OTCQX: SYHBF) (Frankfurt: SC1P) (“Skyharbour” or the “Company”) is pleased to announce that partner company Tisdale Clean Energy Corp.’s (“Tisdale”) crew and equipment has begun mobilization for its upcoming work program at the South Falcon East Uranium Project which hosts the Fraser Lakes B uranium deposit. The South Falcon East Project lies 18 km outside the edge of the Athabasca Basin, approximately 50 km east of the Key Lake uranium mill and former mine. Tisdale entered into an option agreement with Skyharbour that was finalized last year (see news release dated January 25^th, 2023) whereby Tisdale can earn up to a 75% interest in the South Falcon East project. Under the Option Agreement and assuming the 75% interest is earned, Tisdale will have issued Skyharbour 1,111,111 Tisdale shares upfront, and will fund exploration expenditures totaling CAD $10,500,000, as well as pay Skyharbour CAD $11,100,000 in cash of which $6,500,000 can be settled for shares in the capital of Tisdale (“Shares”) over the five-year earn-in period.

Map of South Falcon East Project Claims:
https://skyharbourltd.com/_resources/images/Sky-South-Falcon-East-2023 ...

The initial phase one program will consist of up to approximately 1,500 metres of drilling. The priority will be to confirm and expand the existing mineralization associated with the Fraser Lakes Zone B Uranium Deposit. Infill drilling will confirm the presence and continuity of existing mineralization in preparation for a current updated resource estimate and 3D model in the future. Step out drilling will endeavor to expand the footprint of the deposit, as the current mineralization is open in all directions. Initial focus will be on extending mineralization along strike and down dip into the basement rocks.

A secondary priority will be to begin regional exploration by following up on promising anomalies located in the T-Bone Lake area. Regional drilling will focus on the effort to add additional mineralized zones and deposits along the folded structural package that hosts the Fraser Lakes Zone B Deposit.

2024 Drill Target Areas at the South Falcon East Uranium Project:
https://skyharbourltd.com/_resources/images/2023-Drill-Target-areas-so ...

“We are happy to finally be getting on the ground at South Falcon East,” commented Trevor Perkins, Consulting Geologist for Tisdale. “This program will be the first step to confirming and expanding the Fraser Lakes Zone B Uranium Deposit. We believe that the size and grade of the existing deposit can be increased and are confident we can discover new deposits in the vicinity. We anticipate several exciting years ahead as we advance the South Falcon East Project,” continued Mr. Perkins.