Skyharbour arranges $1.47-million private placement

Jul 17, 2018

2018-07-17 09:29 ET – News Release

Mr. Jordan Trimble reports

SKYHARBOUR ANNOUNCES A PRIVATE PLACEMENT OF COMMON AND FLOW-THROUGH SHARES

Skyharbour Resources Ltd. has arranged a non-brokered private placement of up to two million units of the company at a price of 40 cents each and up to 1.5 million flow-through units at a price of 45 cents each, for combined total gross proceeds of up to $1,475,000. Each unit will consist of one common share and one warrant. Each whole warrant will entitle the holder to purchase one additional common share for two years at a price of 60 cents each. Each FT unit will consist of one flow-through common share and one-half of one warrant. Each whole warrant will entitle the holder to purchase one additional common share for two years at a price of 60 cents each.

The company intends to use the proceeds from this private placement for exploration and upcoming drilling, as well as for general working capital purposes. The private placement is subject to TSX Venture Exchange approval, and all securities are subject to a four-month-and-one-day hold period. Finder fees may be payable in connection with the private placement, all in accordance with the policies of the TSX Venture Exchange.

About Skyharbour Resources Ltd.

Skyharbour holds an extensive portfolio of uranium and thorium exploration projects in Canada’s Athabasca basin and is well positioned to benefit from improving uranium market fundamentals with five drill-ready projects. In July, 2016, Skyharbour acquired an option from Denison Mines, a large strategic shareholder of the company, to acquire 100 per cent of the Moore uranium project which is located approximately 15 kilometres east of Denison’s Wheeler River project and 39 kilometres south of Cameco’s McArthur River uranium mine. Moore is an advanced-stage uranium exploration property with high-grade uranium mineralization at the Maverick zone with drill results returning 6.0 per cent U3O8 over 5.9 metres including 20.8 per cent U3O8 over 1.5 metres at a vertical depth of 265 metres. Skyharbour signed option agreements with Orano Canada Inc. (previously AREVA Resources Canada) and Azincourt Energy whereby Orano and Azincourt can earn in 70 per cent on the Preston project through a combined $9.8-million in total exploration expenditures, as well as $1.7-million in total cash payments and 4.5 million Azincourt shares.

We seek Safe Harbor.

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