Skyharbour Partner Company Tisdale Clean Energy Completes First Two Drill Holes at the South Falcon East Uranium Project, Athabasca Basin, Saskatchewan - Seite 3

Historical diamond drill hole FP-15-05 was drilled by Skyharbour in 2015 and returned multiple zones of mineralization over a 14.0m interval consisting of 6.0m of 0.10% U₃O₈ including 2.0m of 0.17% U₃O₈ from 135m and 2.5m of 0.17% U₃O₈ from 145m. This is the best intersection to date on the property and along the Way Lake conductive trend. This historical hole had to be abandoned due to equipment issues at 165m within the mineralized zone leaving the mineralization open at depth. Tisdale’s initial drill hole, SF-0059, was planned to follow up on historical hole FP-15-05 and adjustments were made to mitigate a lack of precision in tracing of FP-15-05, as no downhole orientation surveys were able to be completed, and any potential downhole deviation was unable to be determined. As a result, a larger separation and step forward was required with hole SF-0059, as well as the use of non-magnetic downhole orientation survey equipment.

Terms of the Option Agreement:

Pursuant to the Option Agreement, Tisdale may acquire up to a 75% (seventy-five percent) interest in the Property, in two phases. Initially, Tisdale can acquire a 51% (fifty-one percent) interest in the Property by completing the following payments and incurring the following exploration expenditures on the Property:

1.   On the closing date (“Closing”), paying CAD $350,000 (paid) and issuing 1,111,111 Shares to Skyharbour upfront (issued);

1. By the eighteen-month anniversary of Closing, completing at least $1,250,000 in exploration expenditures, and paying Skyharbour $1,450,000, of which up to $1,000,000 may be paid in Shares based on the 20-day volume-weighted average closing price calculated on the day of issuance (“VWAP”), at the election of Tisdale;
2. By the second anniversary of Closing, completing an additional $1,750,000 in exploration expenditures, and paying Skyharbour $1,800,000, of which up to $1,000,000 may be paid in Shares based on the VWAP, at the election of Tisdale;
3. By the third anniversary of Closing, completing an additional $2,500,000 in exploration expenditures, and paying Skyharbour $2,500,000, of which up to $1,500,000 may be paid in Shares based on the VWAP, at the election of Tisdale.

After acquiring a 51% interest, Tisdale may increase its interest in the Property to 75% by: