Skyharbour Completes Majority Earn-In and Forms Joint-Venture with Rio Tinto at Russell Lake Uranium Project in the Athabasca Basin

Skyharbour Resources has completed its earn-in requirements to acquire a 51% interest in the Russell Lake Uranium Project in Northern Saskatchewan, forming a joint venture with Rio Tinto. The company achieved this by paying CAD $508,200, issuing 3,584,014 common shares, and incurring $5,717,250 in exploration expenditures over 3 years.

The Russell Lake Project spans 73,294 hectares and is strategically located between key uranium projects. Recent drilling success includes a notable discovery at the Fork Target area, with hole RSL24-02 returning 0.721% U3O8 over 2.5 metres. Skyharbour is planning a fall drill program of 4,000-5,000m to follow up on recent discoveries.

Positive Completed 51% ownership acquisition in Russell Lake Uranium Project

Strategic location between major uranium projects with existing infrastructure Significant uranium discovery with hole RSL24-02 yielding 0.721% U3O8 over 2.5m Fully funded for upcoming 4,000-5,000m fall drill program Negative None. Vancouver, BC, Oct. 23, 2024 (GLOBE NEWSWIRE) — Skyharbour Resources Ltd. […]

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