Skyharbour Closes $2.1 Million Private Placement of Flow-Through Shares

Vancouver, BC, Dec. 05, 2025 (GLOBE NEWSWIRE) -- Skyharbour Resources Ltd. (TSX-V: SYH) (OTCQX: SYHBF) (Frankfurt: SC1P) (the “Company”) is pleased to announce that it has closed a non-brokered private placement (the “Private Placement”) financing for total gross proceeds of CAD $2,103,898.94. The Private Placement was mostly subscribed for by several strategic institutional investors. The funds will be applied towards the Company’s upcoming 2026 exploration campaign including exploration and drilling at its co-flagship Russell (“RL”) and Moore Lake Uranium Projects.

The Company has allotted and issued 5,069,636 flow-through shares (the “FT Shares”) at a price of CAD $0.415 per FT Share. The FT Shares as defined in subsection 66(15) of the Income Tax Act (Canada) (“ITA”) as presently constituted, shall qualify for the federal 30% Critical Mineral Exploration Tax Credit, as defined in subsection 127(9) of the Income Tax Act (Canada).

Pursuant to the Private Placement, the Company has paid cash finder’s fees of CAD $120,008.94 to an arm’s-length party. The Private Placement is subject to final TSX Venture Exchange approval and all securities issued are subject to a four-month-and-one-day hold period.

One director, as an insider of Skyharbour, has subscribed for an aggregate 250,000 Shares for gross proceeds of $103,750. The issuance of the Shares to the insider is considered a related party transaction subject to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company intends to rely on exemptions from the formal valuation and minority shareholder approval requirements provided under sections 5.5(a) and 5.7(a) of MI 61-101 on the basis that the participation by the insider will not exceed 25% of the fair market value of the Company's market capitalization.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.