Skyharbour Resources Ltd. announced that it has acquired 100% of the South Dufferin Uranium Project from Denison Mines Corp. The South Dufferin Project comprises 12,282 hectares (30,349 acres) over nine claims in the Athabasca Basin, which is host to the highest-grade uranium deposits in the world and is consistently ranked as a top mining jurisdiction by the Fraser Institute. The new properties recently staked along with South Dufferin bring Skyharbour's total land package that it has ownership interest in to 504,356 hectares (1,246,290 acres), across twenty-four properties, representing one of the project portfolios in the region.

As the Company remains focused at its ongoing 10,000m drill program at the Russell Lake project, South Dufferin will become a part of Skyharbour's prospect generator business as the Company will seek strategic partners to advance this asset. The South Dufferin project totals 12,282 hectares in eight claims and is located immediately south of the southern margin of the Athabasca Basin in northern Saskatchewan. The property covers the southern extension of the Virgin River Shear Zone, which hosts known high-grade uranium mineralization at Cameco Corp.'s Dufferin Lake zone approximately 13 kilometres to the north (highlight drill results of 1.73% U(3) O(8) over 6.5 metres) and Cameco Corp.'s Centennial deposit approximately 25 kilometres to the north (includes drill intersections up to 8.78% U(3)O(8) over 33.9 metres).

Historical exploration work on the Project consists of airborne EM, magnetic, and radiometric surveys, lake water and sediment sampling, prospecting and ground-truthing of airborne anomalies, geological mapping, and diamond drilling. Some of the historical drill holes intersected elevated uranium with locally anomalous base metal and boron concentrations as well as significant clay alteration. Exploration potential exists for basement-hosted uranium mineralization associated with the Dufferin Lake fault and parallel faults within the Virgin Lake Shear zone.

With numerous mineralized showings to the north of the Project, exploration efforts at South Dufferin have advanced the project to a discovery-ready state. Significant exploration potential exists for basement-hosted uranium mineralization associated with the Dufferin Lake fault, which has an apparent offset of >200 m, and numerous other parallel faults within the Virgin River Shear zone. The project is drill ready with numerous prospective targets warranting follow up work.

The claims are in good standing for several years and there are no underlying royalties on the property except for a 2% NSR on one of the claims. Skyharbour also owns a 922 hectare claim adjacent to South Dufferin bringing the cumulative total to 13,204 hectares (32,628 acres) over ten claims. Terms of the Agreement: Under the terms of the Purchase Agreement, which is subject to TSX Venture Exchange approval, Skyharbour may acquire a 100% interest in the South Dufferin project in consideration for the issuance of 6,000,000 shares, 1,000,000 non-transferable share purchase warrants (the "Warrant"), and a cash payment totaling CAD 125,000. Each Warrant will entitle Denison to purchase one common share of Skyharbour for a period of two years at a price of $0.60 per share. No finders' fees were paid in relation to the acquisition of the South Dufferin Property.

The transaction constitutes a Related Party Transaction in accordance with MI 61-101 due to a common director on each of the Company and Denison's Board. The Company is relying on the exemption from the formal valuation requirement contained in section 5.5 and the minority shareholder approval requirement contained in section 5.7 of MI 61-101. Furthermore, at Skyharbour's 100% owned Moore Lake Uranium Project, Denison has agreed to not exercise a second buyback option to repurchase a 51% interest in the property by making a cash payment of CAD 500,000 and spending CAD 16,500,000 in exploration expenditures on the property over a four-year period.

Skyharbour continues to own the project 100% without any buyback encumbrance on the project.