TSX-V SYH | OTCQX: SYHBF
A Preeminent Uranium Explorer in Canada’s Athabasca Basin September 2026 Corporate Presentation
TSX-V: SYH SKYHARBOURLTD.COM
September 2026
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Disclaimer This presentation has been prepared by Skyharbour Resources Ltd. (“SYH”) using its best efforts to realistically and factually present the information contained. However, subjective opinion, dependence upon factors outside SYH’s control and outside information sources unavoidably dictate that SYH cannot warrant the information contained to be exhaustive, complete or sufficient. In addition, many factors can affect the presentation which could significantly alter the results intended by SYH, rendering the presentation unattainable or substantially altered. Therefore, interested uses should conduct their own assessment and consult with their own professional advisors prior to making any investment decisions. This presentation does not constitute a prospectus or public offering for financing, and no guarantees are made or implied with regard to the success of SYH proposed ventures. Interested investors are advised to seek advice from the investment advisors. Some of the statements in this document may be deemed to be "forward-looking statements". All statements on in this document, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forwardlooking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedarplus.ca for further information. Technical information has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed on behalf of the Company by Serdar Donmez, P.Geo., VP Exploration for Skyharbour as well as a Qualified Person.
TSX-V: SYH SKYHARBOURLTD.COM
September 2026
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PEOPLE, TIMING, PROJECTS
Investment Highlights New JV with Denison at Russell +15,000m of drilling across Russell and +9,000m of drilling at Moore planned in 2026 Additional drilling from prospect generator partners: +30,000m of combined drilling in 2026
Energy transition: uranium prices and market improving with nuclear as integral part of global energy mix going forward as nations decarbonize their economies High-grade uranium discovery potential with near term catalysts and active exploration/drill programs; targeting large, high-grade Athabasca Basin uranium deposits Large uranium property portfolio with ownership interests in >682,100 ha (>1.6M acres) in Athabasca Basin, Canada, consisting of 44 projects acquired at attractive valuations Strong management and technical team with track record of success Utilizing partnerships and JVs to fund exploration with less equity dilution – Prospect Generator Model Noteworthy shareholder base and strategic partners including Denison Mines, Rio Tinto, Orano, and numerous institutional shareholders
TSX-V: SYH SKYHARBOURLTD.COM
September 2026
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PEOPLE, TIMING, PROJECTS
Management Team & Board Jordan Trimble
B.Sc., CFA
President & CEO, Director Resource sector entrepreneur with extensive experience in management, corporate finance, strategy, shareholder communications, marketing, business development, and capital raising. Previously served as Corporate Development Manager for Bayfield Ventures up until its acquisition by New Gold in 2014. CFA® Charterholder and served a full term as Director on the board of CFA Society Vancouver. Holds a Bachelor of Science with a Minor in Commerce from UBC.
Recently named to Business in Vancouver's Forty Under 40 for 2025.
David Cates
CPA, MAcc, BA
Director President and CEO of Denison Mines (TSX: DML) (NYSE: DNN). Previously VP Finance, Tax and CFO at Denison, leading key acquisitions including Rockgate Capital and International Enexco. Serves on the Board of the Canadian Nuclear Association.
Rob Chang
MBA
Director
~30 years in financial services with uranium and mining expertise. Former MD & Head of Metals & Mining at Cantor Fitzgerald. Current Director of UrEnergy and RecycLiCo; former Director of Fission Uranium (acquired in 2024 for over $1B).
Jim Pettit
Joseph Gallucci
Chairman of the Board, Director
Director
30+ years in the resource industry specializing in finance, corporate governance, management, and compliance. Previously Chairman and CEO of Bayfield Ventures Corp. (sold to New Gold, 2014).
Head of Mining Investment Banking at Ventum Financial. 20+ years in global mining capital markets across IB and equity research at BMO, GMP, Dundee, Eight Capital, and Laurentian Bank.
TSX-V: SYH SKYHARBOURLTD.COM
MBA, ICD.D
September 2026
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PEOPLE, TIMING, PROJECTS
Management Team & Board Amanda Chow
CPA, CMA
Brady Rak
CFO, Director
VP of Business Development
Independent director and Chartered Professional Accountant with over 25 years of experience working with public companies. Graduate of Simon Fraser University (BBA). Brings expertise in financial reporting, compliance, and corporate governance within the resource sector.
13-year career in Canadian capital markets across several independent broker dealers including Ventum Financial, Salman Partners, and Union Securities. Focused on advising clients, structuring transactions, and raising capital.
Donald Huston
Paul Matysek M.Sc., P.Geo
Director
Advisor
Independent Director associated with the mineral exploration industry for over 40 years. Extensive experience as a financier and in-field manager of exploration projects in North America.
Successful mining entrepreneur. Founded Energy Metals Corp. (acquired by Uranium One for $1.8B). Led Lithium X ($265M acquisition), Goldrock Mines ($129M), Lithium One ($112M merger), and Potash One ($434M acquisition).
Nicholas Coltura
BBA
Corporate Communications Manager Investor Relations Manager with experience across TSXV, CSE, and OTC-listed junior mining companies. Focused on stakeholder communications, investor relationships, and capital raising. BBA in Finance from SFU.
TSX-V: SYH SKYHARBOURLTD.COM
September 2026
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PEOPLE, TIMING, PROJECTS
Geological Team Serdar Donmez
P. Geo.
Christine McKechnie
VP Exploration
P. Geo.
Senior Geologist
20+ years in uranium exploration and development. 17-year tenure at Denison Mines involved with the Phoenix and Gryphon deposits from discovery through Feasibility Study completion (2023).
Specializes in Athabasca Basin uranium deposits. Previously at Cameco's Eagle Point Mine, JNR Resources, and CanAlaska Uranium. Recipient of the 2015 CIM Barlow Medal for Best Geological Paper.
P. Geo.
Dylan Drummond
Head Consulting Geologist
Senior Project Geologist
40+ years of exploration experience in uranium, gold, and base metals. 12 years as senior geologist at Cameco Corp. Previously COO and VP Exploration at JNR Resources; instrumental in discovery of the Maverick and Fraser Lakes B zones.
Experienced in uranium and rare earth elements exploration. Has worked on multiple high-profile projects including NexGen Energy's Arrow Deposit and Orano Canada's Cigar Lake Project; also spent time with Appia Energy Corp.
Dave Billard
Sean Cross
P. Geo.
P. Geo.
Project Geologist Holds a B.Sc. in Geology from the University of Saskatchewan with an undergraduate thesis on NexGen Energy's Arrow Deposit. Has worked on several flagship projects including Foran's McIlvenna Bay Deposit and NexGen Energy's Arrow Deposit.
TSX-V: SYH SKYHARBOURLTD.COM
September 2026
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Capital Structure TRADING SYMBOLS
SYH
SC1P
SYHBF
TSX VENTURE
FRANKFURT
US OTCQX
221.3 MM
247.9 MM
C$104 MM*
ISSUED & OUTSTANDING SHARES
FULLY DILUTED
MARKET CAPITALIZATION
CAPITAL STRUCTURE
* Share price $0.47 as of September 4th, 2026 ** Over $10M in cash and marketable securities, with ongoing payments coming in from option earn-in partners
ANALYST COVERAGE Marcus Giannini
David Talbot
Saddarth Rajeev
Surya Sankarasubramanian
Research Analyst Haywood Capital Markets
Managing Director, Head of Equity Research Red Cloud Securities Inc.
Analyst, Head of Research Fundamental Research Corp.
Research Analyst Ventum Capital Markets
NOTABLE & STRATEGIC SHAREHOLDERS Denison Mines (TSX: DML) (NYSE: DNN)
Rio Tinto (ASX: RIO)
Sprott Junior Uranium Miners ETF (URNJ) Sachem Cove Partners
Ocean Wall
Global X Uranium ETF (URA)
Horizons Global Uranium Index ETF (HURA)
OTP Fund Management Ltd
TSX-V: SYH SKYHARBOURLTD.COM
Paul Matysek
Sprott
Management & Insiders Tribeca
Extract Capital
Jeff Phillips (Global Market Development)
September 2026
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Nuclear energy underpinned by three major macro trends currently: electrification, decarbonization, and energy security and independence Nuclear energy provides baseload, CO2 emissions-free, low-cost, reliable, safe energy; it also provides grid and price stability and anchors local community with jobs and tax base
Small Modular Reactors (SMR’s) ranging from 5 to 300 MWe are an important emerging market that will standardize construction, reduce risk and decrease costs AI technology and data centers could bring new demand for nuclear energy as AI data centers require baseload energy and can consume 100x more power than typical industrial businesses Announcements from Microsoft (investing $1.6B to revive Three Mile Island and 20-year PPA), Oracle (received SMR building permits), Google (partnered with Kairos to deploy 500MW of advanced nuclear projects), Amazon (supporting nuclear energy via multiple development agreements) and Meta (20-year deal with Constellation for 1,121MW of nuclear power from Illinois' Clinton plant) President Trump recently signed executive orders aiming to quadruple U.S. nuclear energy capacity from 100 GW to 400 GW by 2050, positioning the nation as a global leader in nuclear power
TSX-V: SYH SKYHARBOURLTD.COM
900
820 740
gCO₂ Equivalent per kWh
NUCLEAR: EMISSIONS -FREE, B ASELOAD POWER
AVERAGE LIFE CYCLE OF GREENHOUSE EMISSIONS
600
NUCLEAR
490
300
The only low-carbon energy source providing scalable 24/7 baseload power
230
48
41
38
0
27
24
12
*World Nuclear Association
ENERGY FATALITIES ACROSS OECD COUNTRIES 140 120
Fatalities per TW·year
Energy Transition & Global Energy Mix
120
100
99.5 NUCLEAR
80
Lowest energy accident fatalities for OECD Countries
71.9
60 40 20 0
8.5
1.78
0.245
< 0.01
*Gen II PWR, Swiss Source: Paul Scherrer Institute Data for nuclear accidents modified to reflect UNSCEAR findings/recommendations 2012 and NRC SOARCA study 2015
September 2026
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Why Nuclear? RE A L W ORLD E XA MPL ES A ND BE NE FITS
33 countries have signed a declaration to triple nuclear energy capacity by 2050 with 14 of the largest global financial institutions supporting it
T H E GE RMANY/FRANCE COMPA RISON
Germany Sunk tens of billions of euros into “Green Energy”
Very little progress in reducing carbon emissions
Cameco and Brookfield Asset Management have struck a landmark US$80 billion strategic deal with the US Government to accelerate deployment of Westinghouse nuclear reactors in the US
Emissions of 483 grams CO2 per kWh
In addition to providing base-load, CO2 emissions-free, low-cost energy, nuclear provides unmatched electricity generation in MW / square kilometre
“Energiewende” – “Failed Energy Policy”
Russian invasion of Ukraine and subsequent “weaponizing of energy commodities” has led to energy problems in several countries that are reliant on Russian natural gas – nuclear offers solution UK significant shift in energy mix and policy: upgrading nuclear fleet to new advanced reactors and wants 25% of its electricity from nuclear power
TSX-V: SYH SKYHARBOURLTD.COM
Germany has higher electricity costs compared to France Reliance on coal and Russian natural gas Competitive disadvantage for German industry
France France generates roughly 70% of its electricity from nuclear Per kW carbon emissions a fraction of that of Germany: emissions of 70 grams CO2 per kWh
Much lower electricity cost compared to Germany Clean air with affordable and reliable energy France is planning to expand its existing fleet of nuclear power plants with six new planned reactors recently announced France is large net exporter of electricity
September 2026
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Uranium Market & Nuclear Power
GLOBAL SUPPLY & DEMAND-STRUCTURAL DEFECIT
A Q UESTION O F SUPPLY/DEMAND F UNDAMENTALS
Global demand for electricity to grow by approx. 50% by 2040; data centres and EV’s adding to this Uranium demand expected to grow at 5.3% CAGR through 2040 (WNA Fuel Report Sep. 2025); new reactor builds, extensions, restarts and uprates 441 current operable reactors, 80 reactors under construction, over 400 reactors ordered/planned/proposed
UTILITY UNCOMMITTED DEMAND
2026 demand approx. 200 million lbs with primary mine supply of approx. 175 million lbs; looming supply shortfall Estimated cumulative supply gap through 2036 of approx. 379 million lbs Uncovered demand rises rapidly over the coming years with over 1.2 billion lbs of contracting needed by 2035 Utilities will have to return to the market and enter-into long-term contracts; return to normalized pricing
TSX-V: SYH SKYHARBOURLTD.COM
September 2026
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Nuclear & Uranium Demand Globally THE MAIN DRIVERS OF CONVENTIONAL DEMAND GROWTH
China
India
Currently 64 reactors operating with 38 under construction and many more reactors planned/ordered and proposed Planning to build at least 150 new reactors in the next 15 years; more than the rest of the world has built in the past 35 years
Currently 24 reactors operating with 8 under construction and 40 reactors planned and proposed
Currently 34 reactors operating with 7 under construction and is planning to build 20 reactors in other countries
India plans to increase nuclear capacity to 100GW by 2047
Control significant amount of global mine supply as well as enrichment capacity – recent conflict is “carving out” Russia from western buyers and utilities
USA
Japan Currently 33 reactors operable and 15 reactor restarts up from 3 in 2016 Majority of Japanese support the restart of idled nuclear reactors; 16 reactors in the process of restart approval
TSX-V: SYH SKYHARBOURLTD.COM
Russia
US is largest consumer of uranium with nuclear generating 20% of its electricity through 94 operating reactors US production <4% of domestic demand with reliance on foreign supply at risk with Russian uranium import ban Trump signed Executive Orders to quadruple U.S. nuclear power by 2050; $80B deal with US government funding new Westinghouse reactors; prospect of Strategic Uranium Reserve
UK Currently 9 reactors operating with plans for new advanced nuclear capacity to provide 25% of electricity Britain classifies nuclear power as “environmentally sustainable” to attract private capital to the sector
September 2026
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Uranium Supply Globally URANIUM PRICE REB OUNDING: SP OT MARKET REVIVAL AND SUPPLY CURTAILMENTS
Recently, producers, developers and physical uranium holding companies have been buying material including Cameco, Denison, Yellowcake, and Sprott Physical Uranium Trust In 2025, SPUT sequestered +8.5M lbs with total demand from financial entities of +14M lbs Lower production guidance from numerous producers and developers – risks to the supply side far outweigh risks to the demand side Accelerating inventory and secondary supply drawdowns Underfeeding supply to overfeeding demand There are more shutdowns expected from depleted mines over the next 10 years
TSX-V: SYH SKYHARBOURLTD.COM
September 2026
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Why the Athabasca Basin? G R ADE I S K ING VALUE OF URANIUM GRADES COMPARED TO OTHER METALS * Metal
Grade
lbs/t
$/unit
Value/t
U3O8
1.0%
22.05
$90/lb
$1,984
Gold
14.2 g/t
-
$4,360/oz
$1,984
Silver
926.7 g/t
-
$66.61/oz
$1,984
Copper
13.6%
300.6
$6.60/lb
$1,984
Zinc
52.9%
1,167.4
$1.70/lb
$1,984
* Calculated in US $ using metric tonnes and troy ounces in September 2026
1% U 3 O 8 (Uranium)
=
14.2 g/t Gold 926.7 g/t Silver 13.6% Copper 52.9% Zinc
TSX-V: SYH SKYHARBOURLTD.COM
September 2026
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Exploration Companies & Acquisitions ATHABASCA BASIN URANIUM ADVANCED-STAGE EXPLORATION COMPANIES Current Comparables Trading Symbol
Company
Share Price
Shares Outstanding (MM)
Market Cap (MM)
Skyharbour Resources
SYH
$0.47
221.3
$104.0
IsoEnergy Ltd.
ISO
$15.41
65.3
$1,006.3
CanAlaska Uranium
CVV
$0.38
220.9
$83.9
ATHA Energy
SASK
$1.23
353.5
$434.8
Stallion Uranium
STUD
$0.16
146
$23.4
Cosa Resources
COSA
$0.53
136.8
$72.5
F3 Uranium
FUU
$0.16
633.4
$101.3
*CAD prices as of September 4th , 2026
RECENT URANIUM COMPANY ACQUISITIONS Precedent Athabasca Basin Transactions Acquired Company or Project
Acquirer
$ Value of Acquisition
Size of Resource
Uranium Price and Year
Valuation Metric in $ / lb
Hathor Exploration (Roughrider Project)
Rio Tinto
$654 Million
58 Million lbs
$52/lbs in 2011
$11 / lb
Fission Uranium (PLS Project)
Paladin
$1,140 Million
130.3 Million lbs
$85/lbs in 2024
$9 / lb
28% of Millenium Project (AREVA)
Cameco
$150 Million
18.9 Million lbs
$51/lbs in 2012
$8 / lb
TSX-V: SYH SKYHARBOURLTD.COM
September 2026
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Uranium Exploration in Athabasca Basin RECENT DISCOVERIES AND SUCCESSES The Athabasca Basin in Saskatchewan, Canada is an ancient sedimentary basin hosting the world's richest uranium deposits and mines. Saskatchewan is ranked the 7th most attractive mining jurisdiction in the world, per the Fraser Institute. Historically the Basin has produced 15-20% of world’s primary uranium supply and is a safe and favourable mining jurisdiction
2012 TO PRESENT, SOUTHWEST ATHABASCA BASIN: The Arrow discovery made by NexGen Energy (TSX: NXE); Arrow deposit Patterson Lake South discovery made by Fission Uranium (TSX: FCU); Triple R deposit Patterson Lake North discovery made by F3 2005 TO PRESENT, EASTERN ATHABASCA BASIN: IsoEnergy discovered the Hurricane Deposit Wheeler River's Phoenix and Gryphon Deposits being explored and developed by Denison Mines; Phoenix contains indicated resources of 70.2M lbs U3O8 at a grade of 19.1% U3O8 and Gryphon deposit contains inferred resources of 43M lbs U3O8 at a grade of 2.3% U3O8 Hathor Exploration which was acquired by Rio Tinto in 2011 discovered Roughrider deposit which contains indicated resource of 17.2M lbs U3O8 at a grade of 1.98% U3O8 and inferred resource of 40.7M lbs U3O8 at a grade of 11.2% U3O8
TSX-V: SYH SKYHARBOURLTD.COM
September 2026
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Uranium Exploration in Athabasca Basin RECENT DISCOVERIES AND SUCCESSES NexGen Energy (TSX: NXE), Fission Uranium (TSX: FCU), Alpha Minerals, IsoEnergy (TSX.V: ISO), Denison Mines (TSX: DML) and Hathor are just a few recent examples of successful uranium discovery stories in the Athabasca Basin Even in a declining commodity price environment, significant returns generated for investors from new discoveries and successful resource delineation Traditional Athabasca exploration involved rudimentary geophysical targeting and widely spaced vertical drill holes; high cost of discovery and lower probability of success New exploration techniques and strategies have led to new discoveries through entirely new target types as well as improved targeting methodologies; lower cost of discovery and higher probability of success Skyharbour is utilizing these new techniques and strategies
TSX-V: SYH SKYHARBOURLTD.COM
September 2026
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Portfolio of Uranium Projects TOP -TIER EXPLORATION P ROJECTS IN AND AROUND THE ATHAB ASCA B ASIN
TSX-V: SYH SKYHARBOURLTD.COM
September 2026
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Russell Lake Uranium Project Overview STRATEGICALLY LOCATED ASSET ON P ROLIFIC EXPLORATION CORRIDOR Large, 73,293 ha Russell Lake Uranium Property located in the SE portion of the Basin Premier, advanced-stage exploration property given its large size, proximity to critical regional infrastructure, and significant amount of historical exploration, which has identified numerous prospective target areas and several high-grade uranium showings as well as drill hole intercepts Strategically located between Cameco’s Key Lake mill to south, McArthur River mine to north, and adjacent to Moore uranium project to east and Denison’s Wheeler River project to west; block of highly prospective uranium claims totalling 109,019 ha between Russell and Moore Access to property via Highway 914, which services McArthur River Mine and runs through western extent of property along with high-voltage powerline; there is also an exploration camp suitable for over forty people centrally located on the project Historical exploration efforts including over 95,000m of drilling in over 230 drill holes; numerous highly prospective target areas, some of which host high-grade uranium mineralization in historical drill holes which provides an excellent dataset to direct subsequent exploration on high priority areas with potential for near-term discovery At Grayling Zone, historical drilling at 2.2 km long, up to 100m thick sub-parallel Grayling conductor intersected long discontinuous zone of basement-hosted uranium mineralization with localized perched and unconformity-hosted associated mineralization along a graphitic thrust fault; hole RL-85-07 intersected 3.45% U3O8 over 0.3m at depth of 363.2m and 0.1% U3O8 over 0.5m at depth of 366.4m Over 35 km of untested conductors on the property in magnetic lows, indicative of pelitic basement rocks conducive to uranium deposition in the Athabasca Basin
TSX-V: SYH SKYHARBOURLTD.COM
September 2026
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2023-2025 Exploration at Russell Lake “DISCOVERY READY P ROJECT” SYH drilled 9,595m in first-pass drill campaign in 2023 consisting of 19 holes; uranium was intersected in majority of holes at Grayling Zone over strike >1 km Drill hole RSL23-01 returned 5.9m of 0.151% U3O8 at depth of 338.4m, which includes 1.0m of 0.366% U3O8 at 343.3m depth within a thrust wedge Given findings of inaugural drill program, Skyharbour carried out over 5,100m of drilling in 10 holes during a winter/spring program in 2024 with drill targets including Grayling East, Fork, and selected targets in the M-Zone Extension area High-grade, sandstone-hosted mineralization up to 2.99% U3O8 was intersected over 0.5m in hole RSL24-02 at the new Fork Zone, within an interval of 0.721% U3O8 over 2.5m from 338.1 to 340.6m downhole just above the unconformity representing the best drill result historically at the project This high-grade intercept is a new discovery at the recently identified Fork Target which has very limited historical exploration due to a lack of reliable geophysical data and drill targets resulting from nearby powerline interference The Fork Target area is approx. 1 km southwest of the central Grayling Target area and approx. 4 km southeast of Denison Mines’ Phoenix Deposit The Company completed an Ambient Noise Tomography (ANT) survey to collect data over the highly prospective Grayling and Fork target areas, where previous drilling has intersected highgrade uranium mineralization 2025 drilling campaign included 9,844m alongside Moving Loop and Fixed Loop TEM surveys, advancing multiple high-priority targets including Fork Zone, M-Zone Extension, Fox Lake Trail, and the newly identified Sphinx target; significant uranium mineralization intersected in numerous drill holes Building on successful 2024/25 programs and supported by the new Denison partnership, Skyharbour plans over 15,000m of drilling in 2026 plus extensive ground geophysics across the broader Russell Lake project area
TSX-V: SYH SKYHARBOURLTD.COM
September 2026
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Transformative Strategic Partnership and JV with Denison at Russell Lake In December 2025, Skyharbour closed a definitive strategic agreement at Russell with Denison Mines, a leading uranium mining company and a large corporate shareholder of Skyharbour; Denison joins the Company as a strategic, active, funding partner at Russell The agreement represents up to C$61.5M in combined project consideration; this includes an initial $18M payment in cash and shares (with $10M going to buyout Rio’s minority interest) and up to $43.5 million in additional exploration expenditures and cash over seven years providing significant non-dilutive funding to advance Russell Project will be divided into four joint ventures including Russell Lake (“RL”), Getty East, Wheeler North, and the Wheeler River Inlier Claims, of which Skyharbour will retain initial ownership interests of 80%, 70%, 51%, and 30%, respectively; Denison can then earn up to a 70% interest in the Wheeler North and Getty East properties through option agreements
The technical teams of Denison and Skyharbour will work cooperatively to advance and unlock value across the joint ventures, employing top-tier exploration and development expertise in the region Skyharbour to remain operator with 80% ownership interest at the RL claims comprising over 53,219 hectares of original 73,293 hectare Russell Lake Project; the Company is also operator during the first earn-in at Getty East with Denison sole funding the exploration Transaction represents a strong endorsement of the scale, geological prospectivity, and strategic importance of the Russell Lake Project, which shares a 55 km contiguous border with Denison’s Wheeler River project
TSX-V: SYH SKYHARBOURLTD.COM
September 2026
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Russell Lake Infrastructure & Location DRONE IMAGE FROM RECENT SITE VISIT HIGHLIGHTING PROXIMITY TO DENISON’S WHEELER RIVER PROJECT
TSX-V: SYH SKYHARBOURLTD.COM
September 2026
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Transformative Strategic Partnership and JV with Denison at Russell Lake Jordan Trimble
David Cates
President & CEO of Skyharbour
President & CEO of Denison
We are thrilled to close this major transaction for Skyharbour, and to embark on the next chapter of exploration at Russell with a multi-billion dollar strategic partner and large shareholder in Denison Mines. With up to $61.5 million in combined project consideration contemplated, we are confident that this strategic agreement will expedite the discovery process at the Project while minimizing equity dilution for our shareholders. Based on initial technical meetings and strategy sessions with Denison, we are excited about the combined exploration options for the near term. Russell is one of the more prospective exploration projects in the Athabasca Basin proximal to existing and developing mines including Denison’s Pheonix deposit at Wheeler River. Denison will also be able to provide considerable insight and experience as we jointly advance Russell. Lastly, we now enter the new year with a healthy treasury of over $11 million to fund our exploration efforts and corporate activities through 2026 while various partner companies fund exploration at numerous other projects in our portfolio.
TSX-V: SYH SKYHARBOURLTD.COM
As Denison nears receipt of final regulatory approvals for the Phoenix In-Situ Recovery mine proposed for our flagship Wheeler River property, we are also making measured investments in our project pipeline – including our next development assets and highpotential exploration properties. Given its proximity to Wheeler River, Denison has had an interest in adding Russell to our property portfolio for much of my nearly two decades with the Company. This transaction achieves that objective by providing Denison with the opportunity to lead and participate in exploration efforts across four newly created joint ventures, which are designed to drive collaboration between Denison and Skyharbour’s technical teams. We are excited to build on our long-standing relationship with Skyharbour and accelerate the evaluation of this exceptional package of highly prospective ground.”
September 2026
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Russell Lake-Wheeler North Project INITIAL JV: 51% SKYHARBOUR | 49% DENISON AND DENISON CAN EARN UP TO 70%
16,361 ha across 8 claims located proximal to Denison’s Wheeler River Project, hosting key exploration targets including the Grayling, Fork and Fox Lake Zones, positioned directly along a highly prospective structural corridor Denison is the initial operator leveraging its regional expertise and infrastructure advantages Denison can increase its ownership from 49% up to 70% through two earn-ins:
First Earn-In: Denison earns an additional 11% interest (to 60%) by spending C$10M on exploration within 4 years of closing and paying C$1.5M cash to Skyharbour Second Earn-In: Denison earns an additional 10% interest (to 70%) by spending another C$15M within 7 years of closing and paying C$2M cash to Skyharbour Denison has committed to complete at least C$2.5M in expenditures within the first 2 years at Wheeler North The exploration camp at McGowan Lake on the project will continue to be operated by Skyharbour and an administrative fee will be payable by Denison to Skyharbour Denison is planning a 2026 program consisting of approx. 13 diamond drill holes totaling ~7,500 metres, targeting the Fork, Sphinx, and Fox Lake Trail (FLT) areas, with the initial winter phase consisting of approx. 2,500 metres of drilling at the Fox Lake Trail target
TSX-V: SYH SKYHARBOURLTD.COM
September 2026
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Russell Lake-Getty East Project INITIAL JV: 70% SKYHARBOUR | 30% DENISON AND DENISON CAN EARN UP TO 70%
3,105 ha claim that borders Cameco’s Cree Zimmer property which holds its Key Lake operations to the south
Getty East hosts the Little Man Lake exploration prospect and covers a prospective structural trend extending from the Key Lake corridor Skyharbour is operator during the first earn-in at Getty East with Denison sole funding the exploration in order to fulfill the earn-in option criteria Denison can increase its ownership from 30% up to 70% through two earn-ins: First Earn-In: Denison earns an additional 19% interest (to 49%) by spending C$5M within 4 years of closing Second Earn-In: Denison earns an additional 21% interest (to 70%) by spending an additional C$10M within 7 years of closing Denison has committed to complete at least C$1.5M in expenditures within the first 2 years at Getty East and upon completion of the second earn-in, Denison will have the option to become the operator in the JV Skyharbour is planning a ~16.2 line-kilometres of ground MLTDEM survey to define priority conductive corridors along the interpreted extension of the Middle Lake trend, where historical drilling returned high-grade uranium (22.1% U3O8 over 0.9m in ML30) at nearby project Follow-up program consisting of 3,600 metres is planned in 2026 to test targets generated from new geophysics and historical results; Skyharbour will act as initial operator with Denison as sole-funding partner
TSX-V: SYH SKYHARBOURLTD.COM
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Russell Lake – RL Project JV: 80% SKYHARBOUR | 20% DENISON 53,219 ha across 16 claims representing the majority (over seventy percent) of the original Russell Lake Project, located north and west of Skyharbour’s Moore Project and covering high-priority targets including Christie Lake, NE Russell, Blue Steel, Taylor Bay, South Russell, and Kowalchuk Lake proximal to Cameco’s Key Lake operations Skyharbour will be operator and 80% owner; Denison with a 20% interest will fund to maintain its pro-rata participation interest in the RL claims through December 31st, 2029, or until such time that total expenditures on the properties have reached $10M Christie Lake target area contains basement-hosted uranium mineralization with historical drilling returning 0.17% U3O8 over 0.4m at 436.4m depth in hole CL-10-03, hosted within a strongly hematized breccia; a prospective clay altered basement fault system runs throughout this area Blue Steel target area comprises graphitic metasediments last drilled in 2008 with full extent of the graphitic corridor unknown and untested; historical geophysics indicate potential faulting along this corridor making it priority area for follow-up work using modern exploration methods Kowalchuk area, situated at south end of project proximal to Cameco’s Key Lake operation, has multiple inferred structural trends passing through it; this area has seen only limited modern geophysical coverage to date
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RL hosts many kilometres of untested EM conductors in lowmagnetic basement rocks, indicative of prospective graphitic lithologies typical of Athabasca style uranium systems; with limited modern exploration, RL remains underexplored with strong potential to expand known mineralization and make new discoveries The 2026 exploration program at the RL property has recently commenced and will comprise of 4,000 to 5,000 metres of drilling at the South Russell and Kowalchuk target areas, together with ground EM surveys over the Maverick Extension and Kowalchuk targets
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Moore Uranium Project Overview CO-FLAGSHIP P ROJECT SKYHARBOUR OWNS A 100% INTEREST IN MOORE URANIUM PROJECT:
12 contiguous claims totaling 35,758 hectares Strategically located just east of the midpoint between the Key Lake mine and mill complex and the producing McArthur River mine The property has been the subject of extensive historic exploration with over $50 million in expenditures, and over 140,000 metres of diamond drilling completed in +390 drill holes HIGH-GRADE AND RELATIVELY SHALLOW “MAVERICK ZONE”:
Drill hole ML-61 returned 4.03% eU3O8 over 10 metres, including 20% eU3O8 over 1.4 metres, starting at a depth of 264.68 metres Drill holes ML-55 and ML-47 also encountered high-grade mineralization, returning 5.14% U3O8 over 6.2 metres, and 4.01% U3O8 over 4.7 metres, respectively
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Moore Uranium Project History CO-FLAGSHIP P ROJECT Since 1969, the property has undergone episodic exploration by several companies including Noranda, AGIP, BRINEX, Cogema, Kennecott/JNR Resources and IUC/Denison Exploration programs carried out on the project lands include an assortment of airborne and ground electromagnetic and magnetic surveys, ground gravity, seismic, IP/resistivity and geochemical surveys, mapping, prospecting, lake sediment sampling programs and the drilling of over 390 diamond drill holes Mid-2000 onwards, the primary focus of exploration has been the 4.7-kilometre-long Maverick structural corridor where pods of high-grade unconformity-type uranium mineralization have been intersected In addition to the Maverick Zone, diamond drilling in several other geophysical target areas, has intersected multiple conductors associated with significant structural disruption, strong alteration and anomalous uranium and pathfinder element concentrations; this bodes well for the possibility of discovering additional high-grade uranium zones in these areas
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2017-2019 Exploration Programs at Moore E ARLY SUCCESS W ITH “MOORE” UPSIDE Winter and summer 2017 drill programs totalled 9,485m with high-grade uranium in multiple drill holes including 20.8% U3O8 over 1.5m within 6.0% U3O8 over 5.9m, 9.12% U3O8 over 1.4m, and 2.23% over 9.3m U3O8 all at 250-275m depth Hole ML-202 was a 100m step out from the high-grade Main Maverick Zone and represents a new high-grade mineralized lens discovery: 9.12% U3O8 over 1.4m and 4.17% U3O8 over 4.5m at 278m depth 3,400 metre 2018 winter drill program in nine drill holes; three of the four holes drilled at the Maverick corridor in this program returned high-grade uranium mineralization 3,800 metre 2018 summer/fall drill program in eight drill holes; high-grade uranium was discovered in the basement rock illustrating the strong discovery potential below the unconformity Hole ML18-15 was drilled at the western end of Maverick Zone and returned 1.33% U3O8 , 0.44% Co and 1.62% Ni over 7.8 metres from 264.3m to 272.1m 2,800 metre 2019 winter drill program in seven drill holes; additional high-grade uranium was discovered in the basement rock and new regional discovery made at the Otter Zone area
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2020-2026 Exploration Programs at Moore NEAR TERM CATALYSTS; 8 -10,000M OF DRILLING PLANNED IN 2026 Just over half of 4.7 km Maverick corridor has been systematically drill tested leaving robust discovery potential along strike and at depth in underlying basement rocks Of particular interest are underlying basement feeder zones to the unconformity-hosted high-grade uranium present along the Maverick corridor 2020 drilling (~4,900m) doubled the strike length of the Maverick East Zone 2021 program (6,598m) returned high-grade basement and unconformity results, including 2.54% U3O8 over 6.0m and 0.54% U3O8 over 19.5m Winter 2024 drilling (2,864m) focused on infill and expansion at the high-grade Main Maverick Zone and regional targets; all Main Maverick holes intersected uranium mineralization Highlight: ML24-08 – 5.0m of 4.61% U3O8, including 7.30% U3O8 over 3.0m, at shallow depths Fall 2024 drill results (2,759m) extended the Maverick East Zone including ML24-15 returning 6.4m of 1.50% U3O8, extending mineralization +40m to NE 2025 drilling (7,884m) confirmed high-grade uranium at the Main Maverick Zone, highlighted by ML25-15 returning 4.84% U3O8 over 4.4m, including 11.77% U3O8 over 1.6m, reinforcing shallow, high-grade continuity The 2025 program also identified the new Nomad Zone, over 1.7 km southwest of Maverick, with drilling intersecting intense alteration and faulting indicative of a fertile regional uranium system 2026 plans include a multi-phased drill program of 8,000–10,000m in 15–25 holes, beginning with a winter program expected to comprise approximately 5,000 metres in 10 to 12 drill holes, focused on expanding the Maverick zones and follow-up drilling at regional Nomad and Esker targets
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Prospect Generator Business: Joint Ventures and Option Agreements Skyharbour adds value to its projects in the Athabasca Basin through focused mineral exploration at its core projects (Russell and Moore) while utilizing the prospect generator model to advance other projects with strategic partners Numerous exploration drill programs completed by partner companies in 2025 and ongoing programs in 2026 Company
Project
Interest (up-to)
Exploration Expenditures
Cash Payments
Share Issuance (# or Value of Shares)*
Joint Venture or Option Term
Orano Canada****
Preston
51%
$4,800,000
$100,000
0
JV as of March 2021
Azincourt Energy****
East Preston
70%
$2,500,000
$500,000
$482,500
JV as of February 2021
Xpedra Resources
Hook Lake
80%
$3,500,000
$250,000
$1,605,630
JV as of February 2024
Nexus Uranium Corp.
Mann Lake
75%
$4,000,000
$850,000
$1,750,000
5 years from October 2021
Terra Clean Energy
South Falcon East
75%
$10,500,000
$4,600,000
$7,000,000
5 years from January 2023
North Shore Uranium
Falcon
100%
$3,550,000
$5,525,000
$6,225,000
3 years from November 2023
UraEx Resources
South Dufferin and Bolt
100%
$4,500,000
$1,650,000
$3,650,000
5 years from October 2024
Future Fuels
Highway
80%
$2,050,000
$245,000
$1,050,000
3 years from February 2025
Mustang Energy Corp.
914W
75%
$800,000
$275,000
$480,000
3 years from November 2024
Denison Mines
Russell Lake
70%
$40,000,000
$5,500,000**
$6,000,000
7 years from December 2025
Purecore Metals Inc.
Yurchison
100%
$3,500,000
$3,350,000
$3,700,000
3 years from July 2026
Potential Totals***
–
–
$79,700,000
$22,570,000
>$30,000,000
–
* Value of shares calculated using VWAP at time of issuance ** This amount nets out $10M payment made to Rio to buy them out of their minority interest at Russell ***Assumes all partners complete their respective earn-ins up to maximum property interests that can be earned; there are several staged earn-ins ****Orano’s ownership is now 79.2% and Azincourt’s Ownership is now 85.8%
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Preston Uranium Project P ROSPECT GENERATOR: STRATEGIC PARTNERSHIP WITH INDUSTRY -LEADER ORANO CANADA Skyharbour owns 20.8% of Preston Uranium Project with Orano operating and owning 79.2% One of the largest land packages in Patterson Lake area totalling 49,635 ha strategically located near Fission’s Triple R deposit and NexGen’s Arrow deposit Skyharbour and previous operators spent over $4,700,000 in exploration from 2013-2016 Extensive fieldwork carried out has vectored in on 15 high priority areas with similar indicators as those at nearby PLS and Arrow discoveries Numerous drill ready targets offering strong discovery potential Orano completed its winter 2020 program consisting of a regional geophysical program to further advance the project and refine future drill targets Given the size of the property, exploration to date has only focused on approx. 50% the land package leaving significant exploration upside potential in untested areas
Orano fulfilled their first earn-in option interest in the project (51% ownership) by completing CAD $4.8 million in staged exploration expenditures and making a total of CAD $200,000 in cash payments divided evenly between Skyharbour and Dixie Gold
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Orano completed a 2024 geophysical program including MLTEM, ground gravity, and SGH surveys 2025 helicopter-supported drilling program totaling 5,565 metres across 17 holes successfully completed across the Johnson Lake, Canoe Lake, and FSAN target areas 2026 program to include AGG and ground gravity surveys followed by approx. 3,500m in summer drilling program focused on FSAN and Canoe Lake targets
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South Falcon East Uranium and Thorium Project NI 43 -101 URANIUM & THORIUM DEP OSIT AND SIGNIFICANT PARTNER -FUNDED EXPLORATION PROGRAM
100% interest in South Falcon Point (previously Way Lake) Uranium Project 16 claims totaling 12,235 hectares 55 km east of the Key Lake mill Skyharbour has optioned up to a 75% interest in a portion of the project to Terra Clean Energy (previously Tisdale); Terra will issue Skyharbour 1,111,111 shares upfront, fund exploration expenditures totaling CAD $10,500,000, and pay Skyharbour $11,100,000 in cash of which $6,500,000 can be settled for shares over a five year earn-in The optioned portion of South Falcon (“South Falcon East”) consists of 12,235 hectares; Skyharbour will retain a minority interest in South Falcon East assuming the earn-in is completed as well as a 100% interest in remaining and adjacent 32,006 ha South Falcon Project In the event that additional share issuances to Skyharbour would result in Skyharbour owning 10% or more of Terra, a cash payment must be made in lieu of the shortfall to prevent Skyharbour becoming a reporting insider of Terra; Skyharbour also retains the final approval authority over the proposed work and exploration programs
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South Falcon East Uranium and Thorium Project NI 43 -101 URANIUM & THORIUM DEP OSIT AND SIGNIFICANT PARTNER -FUNDED EXPLORATION PROGRAM In March 2015, Skyharbour Resources filed an updated NI 43-101 mineral resource estimate for the Fraser Lakes Zone B deposit, available on SEDAR+ 6,960,681 pounds U3O8 inferred at average grade of 0.03% U3O8 and 5,339,219 pounds ThO2 inferred at average grade of 0.023% ThO2 within 10,354,926 tonnes (cutoff grade of 0.01% U3O8 ) Winter/spring 2015 drill program consisted of 1,278 metres in five holes
Intersected highest grade mineralization found to date in deposit area: 0.172% U3O8 and 0.112% ThO2 over 2.5m Breakthrough towards finding more and higher-grade uranium mineralization at shallow depths
Drilling to date at entire Falcon Point Project (includes South Falcon East, South Falcon and Hook Lake) totals over 21,000m in 110 holes; over $13 million in previous work across numerous near-surface target areas Terra completed a 2024 winter phase of drilling and intersected mineralization in several holes; recently completed a winter 2025 program which consisted of 1,927m of drilling, intersecting wide zones of mineralization Terra is planning an upcoming drill program consisting of 2,500m of 7 to 10 drill holes to follow-up on the success of 2025 drilling
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Falcon Uranium Project P ARTNER TO ADVANCE DRILL -READY PROJECT WITH ROB UST DISCOVERY POTENTIAL 100% interest in the Falcon (previously Way Lake) Uranium Project as well as Foster River Project Combined 10 claims totaling 36,788 hectares; 55 km east of the Key Lake mill Skyharbour has optioned an initial 80% and up to 100% interest in the nine South Falcon claims and two previous claims that formed a portion of the Foster Project, totaling 36,788 hectares, to North Shore Uranium North Shore will issue Skyharbour shares with a value of CAD $1,225,000, fund exploration totaling CAD $3,550,000, and pay Skyharbour CAD $525,000 over a three year earnin, with an option to purchase the remaining 20% for an additional CAD $10 million in cash and shares Prospective for high-grade basement-hosted uranium and REE mineralization similar to nearby deposits at Eagle Point and Fraser Lakes Zone B (South Falcon East, under option to Terra Clean Energy)
Recent drilling by North Shore tested three targets along a northeast trending EM conductor; two targets intersected uranium mineralization North Shore recently completed a prospecting program whereby significant radioactivity was discovery in boulders and outcrops; North Shore is integrating prospecting data and EM interpretations to refine and prioritize future drill targets North Shore is planning several programs in 2026 with details forthcoming
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Yurchison Project N EW E ARN-IN O PTION PAR TNER PURECORE METALS
Yurchison consists of 22 claims covering approximately 35,029 hectares in the Wollaston Domain of northern Saskatchewan Excellent access with Highway 905 crossing the Property, located approximately 75 km south of Cameco's Rabbit Lake operation Prospecting near historical trenches returned uranium values of 0.09% to 0.30% U₃O₈ and molybdenum values of 2,500 to 6,400 ppm in outcrop and float samples Prospective for basement-hosted uranium, pegmatitehosted U-Th-REE, and sediment-hosted Cu-Pb-Zn mineralization, with the historic George Lake Pb-Zn deposit proximal to the Property
Definitive Agreement signed July 2026 with Purecore Metals Inc. (CSE: PURE) to earn an initial 70% and up to 100% of the Yurchison Project
Modern airborne EM (VTEM and VLF-EM), magnetic and radiometric surveys flown in 2022 and 2023
For the initial 70%, Purecore will issue common shares having an aggregate value of CAD $700,000, make total cash payments of $350,000, and incur $3,500,000 in exploration expenditures over a 3-year period
Purecore recently commenced a comprehensive data compilation and target generation program at the Project, integrating historical and modern geological, geochemical, geophysical and drilling datasets into a unified geological framework to define and rank priority drill targets
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Purecore has an option to acquire the remaining 30% by making an additional $3,000,000 cash payment and issuing $3,000,000 in shares; Skyharbour retains a 2% NSR royalty with Purecore able to purchase one-half for $1,000,000
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South Dufferin and Bolt Uranium Projects EARN -IN OPTION P ARTNER South Dufferin Uranium Project consists of 25 claims totalling 39,398 ha Drill ready project with numerous prospective targets that covers the southern extension of the Virgin River Shear Zone
Historical work 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 Robust exploration upside potential along strike from Cameco’s high-grade Centennial Deposit UraEx completed an inaugural summer drill program in 2025 with plans to follow up in 2026 Drilling targeted high-potential areas with geochemical anomalies, gravity lows, and structural complexity at South Dufferin Bolt Project consists of seven claims totalling 5,708 hectares located approx. 7 kilometres west of Highway 914 and about 16 kilometres south of Cameco's Key Lake Operation Definitive Agreement signed October 2024 with UraEx Resources to earn an initial 51% and up to 100% of both the South Dufferin and Bolt Projects
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For initial 51%, UraEx will issue common shares having aggregate value of CAD $1,150,000, make total cash payments of $450,000, and incur $3,000,000 in exploration expenditures on the Property over a 3-year period UraEx has an option to acquire remaining 100% by issuing common share having an aggregate value if CAD $2,500,000, making cash payments of $1,200,000 and incurring $1,500,000 in exploration expenditures over an additional two-year period
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Highway Project E ARN-IN O PTION PAR TNER
Highway Uranium Project consists of nine claims totalling 17,606 ha Located approx. 41 km south of the Rabbit Lake Mine and 11 km SW of Uranium Energy Corp.’s (UEC, formerly UEX) West Bear U and Co-Ni Deposits Highway 905 runs through the property, providing excellent access for exploration and the project is in close proximity to regional infrastructure Limited modern exploration carried out on the project but there is the potential for high-grade basementhosted and unconformity-related uranium mineralization Agreement signed October 2024 with Future Fuels (Acquired Hatchet Uranium Corp. in Feb 2026) to earn an 80% interest on the Highway Project
For an 80% interest, Future Fuels will issue common shares having aggregate value of CAD $1,050,000, make total cash payments of $245,000, and incur $2,050,000 in exploration expenditures on the Property over 3 years
Skyharbour will also receive shares of Future Fuels amounting to 9.9% for the sale of the Genie, Usam and CBX/Shoe projects with Skyharbour retaining a royalty and an ownership claw back provision on the claims
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914W Project E ARN-IN O PTION PAR TNER
914W Project consists of one claim covering 2,442 hectares Located approximately 48 km southwest of Cameco’s Key Lake Operation, with highway 914 running through the western edge of the project, providing excellent access for exploration Despite the project’s proximity to Highway 914 and prospective geology, the project has seen limited exploration work Previous work was completed on areas outside of the extents of the 914W property; project remains underexplored and prospective for unconformityrelated and pegmatite-hosted uranium and REE’s Agreement signed November 2024 with Mustang Energy Corp. to earn a 75% interest on the 914W Project
Skyharbour will retain a 2% NSR royalty on the property whereby Mustang will have the right at any time to purchase one-half of the NSR royalty for a cash payment
For a 75% interest, Mustang will issue common shares having aggregate value of CAD $480,000, make total cash payments of $275,000, and incur $800,000 in exploration expenditures on the Property over 3 years
Mustang recently completed high-resolution TDEM survey over the property delineated a strong, laterally-continuous conductive zone trending east-northeast at depth, a key target signature for unconformity-type uranium mineralization
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Mann Lake Uranium Project LOCATION, LOCATION, LOCATION
Mann Lake Uranium Project strategically located on east side of the Basin, consisting of one claim covering 3,473 hectares 25 km SW of Cameco’s McArthur River Mine and 15 km NE and along strike of Cameco's Millennium uranium deposit Adjacent to Mann Lake Joint Venture operated by Cameco (52.5%) with Denison (30%) and Orano (17.5%) In March 2014, a drill discovery was made by Cameco consisting of 2.31% eU3O8 over 5.1m including 10.92% eU3O8 over 0.4m on this adjacent project Definitive Agreement signed in October 2021 with Nexus Uranium Corp. (previously Basin Uranium) to earn-in 75% of Skyharbour’s Mann Lake project Nexus Uranium to contribute cash and exploration expenditures consideration totaling CAD $4,850,000 over a multi-year period ($850,000 will be in cash payments to Skyharbour as well as $4,000,000 in exploration expenditures) as well as issue a total of CAD $1,750,000 worth of shares to Skyharbour
Nexus Uranium completed two phases of drilling in 2022 totaling 6,279m which had success defining the unconformity and intersecting uranium mineralization
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East Preston Uranium Project P ROSPECT GENERATOR: STRATEGIC P ARTNERSHIP WITH AZINCOURT ENERGY
March 2017, Skyharbour announced an option agreement with Azincourt Energy to option a majority of the 20,674 hectare East Preston Uranium Project for shares of Azincourt and $3,500,000 in project consideration ($2,500,000 of exploration and $1,000,000 in cash payments divided evenly between Skyharbour and Dixie Gold) Azincourt earned a majority interest with a joint venture now constituting Azincourt (85.8%) and, Skyharbour (9.5%) and Dixie Gold (4.7%) At East Preston, Azincourt completed ground geophysical programs and exploratory drilling in 2018-2020 to refine future drill targets over prospective conductor trends In 2020, Azincourt completed a 2,431m drill program consisting in 9 holes with promising basement lithologies and graphitic structures intersected along with associated, anomalous REE mineralization and favourable alteration 1,195m winter drill program completed in 2021 Completed a 2022 winter drill program totaling 5,004 metres in 19 drill holes
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Winter 2023 drill program consisting of 3,066m in 13 drill holes with drilling focused on the G, K, H, and Q zones The 2024 winter drill program consisting of 1,086 metres of drilling in four diamond drill holes recently completed Analysis of the results shows several intervals with anomalous uranium enrichment within the clay alteration zones along the K, and H-target zones
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Hook Lake Project HI GH-GRADE SHOWING W ITH J V PAR TNER XPEDRA R E SOURCES
16 contiguous mineral claims totaling 25,846 hectares Years of exploration have culminated in extensive geological database for the project area Hook Lake target area at north end of Falcon Point property recently yielded high-grade uranium grab samples of up to 68% U3O8 in massive pitchblende vein at surface Previous operators unable to definitively explain and locate the source Xpedra Resources (previously Thunderbird) has fulfilled their earn-in option in the project (now owning 80% interest) by completing CAD $250,000 in cash payments to Skyharbour as well as $3,500,000 in exploration expenditures Skyharbour retains a 20% ownership in the project moving forward Initial exploration programs consisting of geophysics, ground-work and some drilling have been completed
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Uranium Projects Available for Earn-In Option or JV Continue to bolster project portfolio by staking bringing total landholdings with an ownership interest in Athabasca Basin region to 682,100 ha across 44 properties
Perpete (351 hectares) Foster (15,582 hectares) Bennett (17,657 hectares) Carswell East (23,665 hectares) Carswell North (42,742 hectares) 914 & Elevator (13,785 hectares) Rover (793 hectares) Cree North (30,204 hectares) Ford Lake (4,920 hectares) LEB (607 hectares) Pendleton (5,338 hectares) Orr (5,987 hectares) Otter (4,838 hectares) Haultain (6,607 hectares) Bonville (1,497 hectares) South Preston (965 hectares) Tarku (13,337 hectares)
Carter North (42,742 hectares) Carter West (24,398 hectares) East Dufferin (1,451 hectares) Brustad (791 hectares) Pine (23,817 hectares) Rapids (15,561 hectares)
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Recent Milestones and Upcoming Catalysts 2016-2019 Completed transaction with Denison to acquire 100% of flagship Moore Project Drill programs at Moore expand high-grade Maverick Zone and discover additional mineralized zones
Option deals with Orano and Azincourt to fund exploration at other projects (“prospect generator model”) Orano and Azincourt complete multiple exploration programs at Preston and East Preston
2020-2021
2022-2023
2024-2026
Completed multiple drill programs at Moore Project; highgrade basement hosted uranium discovery
Continued drilling at Moore with focus on basement hosted targets
Major strategic agreement with Denison at Russell; up to C$61.5M in project consideration from Denison and new JVs formed
Signed option deals with several partners including Valor Resources (Hook Lake Project) and Basin Uranium Corp. (Mann Lake), Exploration programs funded by Valor and Azincourt at Hook Lake and East Preston Projects
Additional project acquisitions through staking Raised over $8M in financings and warrant exercises
Optioned co-flagship Russell Lake Project from Rio; inaugural 9,600m program completed with significant uranium intercepts in drilling Signed option deals with Tisdale (South Falcon East), Yellow Rocks (Usam and Wallee), and North Shore (South Falcon) Numerous exploration and drill programs funded by partners
Additional project acquisitions through staking
Project acquisitions through staking and purchase of South Dufferin
Completed over $11M in financings
Raised over $10M in financings and warrant exercise
+15,000m drilled at Russell in 2024–2025, with +15,000m drilling planned in 2026 in partnership with Denison Successful drilling at Moore in 2024-25; planning 8-10,000m campaign in 2026 as well as technical report Exploration and drill programs funded by partners at secondary projects Combined +30,000m of drilling planned in 2026
Additional project acquisitions through staking and purchases; new option/JV partnerships Improving U market fundamentals Raised over $23M including significant cash and share payment from Denison in late 2025
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A Preeminent Uranium Explorer in Canada’s Athabasca Basin
Thank You CONTACTS
Jordan Trimble
Nicholas Coltura
President & CEO
Corporate Communications
604-558-5847 1-800-567-8181 info@skyharbourltd.com
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Suite 1030, 505 Burrard St. Vancouver, BC Canada V7X 1M5
Serdar Donmez, P.Geo., is Skyharbour’s VP of Exploration as well as a Qualified Person as defined by National Instrument 43-101 and has reviewed and approved the technical information in this presentation.
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