Skyharbour Consolidates 100% Interest in the Russell Lake Uranium Project

Core Viewpoint - Skyharbour Resources Ltd. has entered into a definitive purchase agreement with Rio Tinto Exploration Canada Inc. to acquire RTEC's minority interest in the Russell Lake Uranium Project, consolidating its ownership to 100% [1][2][3] Transaction Details - Skyharbour will pay a total of C$10 million for the acquisition, consisting of a C$2 million deposit and an C$8 million closing payment expected by December 21, 2025 [2] - RTEC's interest in the Project prior to closing is approximately 42.3% [2] Project Overview - The Russell Lake Project spans 73,314 hectares and is strategically located in the Eastern Athabasca Basin, enhancing accessibility due to nearby infrastructure [4] - The acquisition will create a contiguous block of uranium claims totaling 109,019 hectares between Russell Lake and the Moore Uranium Project [4] - Notable exploration targets on the property include the Grayling Zone, M-Zone Extension, Little Man Lake, Christie Lake, Fox Lake Trail, and the newly identified Fork Zone [4] Company Background - Skyharbour holds a portfolio of uranium exploration projects covering over 616,000 hectares in the Athabasca Basin and is positioned to benefit from improving uranium market conditions [6] - The company has joint ventures with industry leaders and has signed earn-in option agreements totaling over $36 million in partner-funded exploration expenditures [7][8]