Skyharbour Announces Closing of Option and Purchase Agreements with Hatchet Uranium for Several of its Uranium Projects Located in the Athabasca Basin

Core Viewpoint - Skyharbour Resources Ltd. has successfully closed an option agreement with Hatchet Uranium Corp., allowing Hatchet to acquire an 80% interest in the Highway Uranium Property and a 100% interest in the Genie, Usam, and CBX/Shoe Uranium Projects, totaling 66,358 hectares in the Athabasca Basin, Saskatchewan, Canada [1][6][26]. Group 1: Agreement Details - Hatchet can earn an 80% interest in the Highway Uranium Property by fulfilling commitments of CAD $3,345,000 over three years, which includes cash payments, share issuance, and exploration expenditures [1][3]. - The cash payments include CAD $245,000, with specific amounts due at each anniversary of the agreement, and the share issuance is valued at CAD $1,050,000 [3][4]. - Skyharbour will retain a 2% net smelter returns royalty from minerals mined from the Optioned Property, with an option for Hatchet to purchase half of this royalty for CAD $1,000,000 [5][8]. Group 2: Property Summaries - The Highway Uranium Project consists of nine claims covering 17,606 hectares, located near existing uranium mines, with potential for high-grade uranium mineralization [10][12]. - The Genie property includes five claims totaling 16,930 hectares, situated near Cameco's Eagle Point Uranium Mine, with historical exploration indicating potential for high-grade uranium mineralization [13][16]. - The Usam Project comprises twelve claims totaling 40,041 hectares, with numerous EM conductors and historical exploration suggesting significant uranium potential [17][19]. - The CBX/Shoe properties have been expanded to include seven claims covering 9,386 hectares, with historical exploration indicating the presence of uranium mineralization [20][22]. Group 3: Financial and Strategic Implications - Skyharbour will receive units in Hatchet equal to 9.9% of the issued shares, which consist of a share and a warrant, providing potential future financial benefits [1][6]. - Hatchet's acquisition is contingent upon completing a financing of at least CAD $1,500,000, which has been successfully completed [9]. - The company aims to maximize shareholder value through strategic partnerships and advancing exploration projects in favorable jurisdictions [26][28].