Skyharbour Partner Company Terra Clean Energy Plans Summer Drill Program at the South Falcon East Uranium Project

Core Insights - Skyharbour Resources Ltd. announces a summer drill program at the South Falcon East Uranium Project, in partnership with Terra Clean Energy Corp. [1] - Terra will fund exploration expenditures of CAD $10,500,000 and pay Skyharbour CAD $11,100,000 in cash, with CAD $6,500,000 potentially settled in shares [1] Project Overview - The South Falcon East Project covers approximately 12,464 hectares and is located 18 km outside the Athabasca Basin, about 50 km east of the Key Lake Uranium Mill [9] - Historical exploration has identified an area of U-Th-REE mineralization at the Fraser Lakes Zone B, covering 1.5 km by 0.5 km [9] Upcoming Drilling Program - Terra plans to conduct approximately 2,500 metres of drilling in summer 2025, targeting a high-priority area for higher-grade uranium mineralization [2][3] - The drilling will focus on an area where key geological indicators for uranium deposits intersect, including graphitic metasediments and clay alteration [3] Financial Aspects - The budget for the summer drilling program is anticipated to be CAD $2,000,000 [5] - The total exploration expenditures from partner-funded agreements with Skyharbour exceed CAD $36 million, including over CAD $20 million in shares and CAD $14 million in cash payments [13] Industry Context - The Athabasca Basin is a leading uranium-producing region, accounting for approximately 20% of global uranium production [4] - The region has attracted significant investment due to its well-explored nature and the potential for high-grade uranium deposits [4]