Skyharbour Resources Ltd. announced results for its inaugural drilling program 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. Three phases of drilling were completed on the property this year with eight holes totaling 3,661.5 metres drilled at the Grayling Zone in Phase One, followed by Phase Two consisting of 2,730 metres in four holes at the Fox Trail target area, and returning to the Grayling Zone for Phase Three where an additional 3,203 metres was drilled in seven holes. Uranium mineralization was intersected in the majority of holes at the Grayling Zone over a strike length exceeding one kilometre.

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 at343.3 metres depth within a thrust wedge. Highlights: Hole RSL23-01 intersected a 5.9 metre intercept of 0.151% U3O8 beginning at 338.4 metres, including 1.0 metres of 0.366% U3O8 at 343.3 metres. The mineralization begins near the base of a basement thrust wedge, and extends into the strongly clay altered sandstone and uppermost basement, and is accompanied by anomalous pathfinder geochemistry including As (=1960 ppm) Ni (=2760 ppm), and V (=381 ppm); Hole RSL23-02 intersected 1.0 metre of uranium mineralization grading 0.224% U3O8 at the unconformity, accompanied by major sandstone and basement faulting, significant clay alteration, and highly anomalous As (=1110 ppm), Cu (=427 ppm), Ni (=2760 ppm), V (=811 ppm) and Zn (=602 ppm); Most of the holes drilled at the Grayling Zone that successfully reached their intended targets intersected uranium mineralization; The Grayling Zone and its attendant thrust wedge has now been confirmed over a strike length of 1,000 m. The uranium mineralization at the Grayling Zone is accompanied by significant faulting, strong clay alteration of the sandstone and basement graphitic pelitic gneisses, and highly anomalous pathfinder geochemistry, including anomalous B, Ni, Cu, Pb and As in addition to uranium; Drilling on the Fox Lake Trail conductors confirmed the presence of highly prospective graphitic pelitic gneiss packages in conjunction with prospective quartzite ridges and other favourable host lithologies.

Both the sandstone and basement rocks in the Fox Trail area are frequently enriched in uranium and pathfinder elements including B, V, Ni, Co, Cu and As; Substantial portions of the Grayling and Fox Lake Trail target areas have yet to be systematically drill tested leaving robust discovery potential. There is also more than 35 kilometres of largely untested prospective conductors in areas of low magnetic intensity on the Property; Given the success of the inaugural drill program carried out by the Company at Russell Lake, a follow-up program is being planned. The program will consist of 4,000 m - 5,000 m of drilling and is slated to commence this upcoming winter.