Skyharbour Resources Ltd. announced that the Company has commenced its 8,000 metre winter drill campaign at its recently optioned 73,294 hectare Russell Lake Uranium Project strategically located in the central core of the Eastern Athabasca Basin of northern Saskatchewan. Skyharbour is planning 5,000 metres of diamond drilling in ten to twelve holes at Russell and then plans to move the drill rig over to its adjacent 35,705 hectare high-grade Moore Uranium Project, to complete 3,000 metres of drilling in eight to ten holes. Skyharbour's geologists and contracted drilling crew are working out of an exploration camp at the project located on the McArthur River-Key Lake haul road within five kilometres of Denison Mines' Phoenix deposit at the Wheeler River Project.

Highlights: Commencement of Skyharbour's single largest, seasonal drill campaign consisting of 8,000 metres with 5,000 metres (ten to twelve holes) planned at Russell Lake and 3,000 metres (eight to ten holes) planned at Moore; Fully funded and permitted for this drilling and for follow-up drilling and other exploration programs later in 2024; Local infrastructure including the McArthur River Mine haul road, powerlines and the exploration camp at Russell help to materially lower all-in drill costs; Drilling at Russell will be focused on the Fork and Grayling East targets within the broader Grayling target area as well as the M-Zone Extension target; drill testing several uriniferous conductors that extend from Denison's adjacent Wheeler River Project onto Russell; Drilling at Moore will include infill and expansion drilling at the high-grade Maverick Corridor as well as drill testing several regional targets including the Grid Nineteen target area. Winter Diamond Drilling Program at Moore: Skyharbour will conduct another phase of drilling consisting of 3,000 metres in eight to ten holes at its high-grade Moore Project upon completion of the initial phase of drilling at Russell. Additional regional drilling at the Moore Project during the winter drill program will primarily take place in the Grid Nineteen area, where the Slice Pond Conductor and accompanying structural zone has been confirmed by drilling over a strike length of 800 metres to date.

A total of four to five holes totaling 1,200 to 1,500 metres are anticipated to be drilled at the Grid Nineteen target area as part of the winter drill program at Moore. The Property has been the subject to greater than 95,000 metres of drilling in over 230 drill holes prior to Skyharbour's maiden drill program, with most of this drilling comprising of widely spaced exploratory and reconnaissance drilling. Drill hole RSL23-01 intersected one of the best ever drill results from the project, returning a 5.9 metre wide intercept of 0.151% U3O8 at a depth of 338.4 metres, which includes 1.0 metres of 0.366% U3O8 at the depth of 338.4 metres.