Vancouver, BC, Jan. 23, 2026 (GLOBE NEWSWIRE) -- Skyharbour Resources Ltd. (TSX-V:SYH) (OTCQX:SYHBF) (Frankfurt:SC1P) (“Skyharbour”, “SYH”, or the “Company”) would like to cordially invite you to visit us at Booth #205 at the Vancouver Resource Investment Conference (“VRIC”) to be held at the Vancouver Convention Centre West (1055 Canada Place, Vancouver) on Sunday, January 25, and Monday, January 26, 2026. During the Vancouver Resource Investment Conference, Skyharbour’s President and CEO, Jordan Trimble, ...

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]

Equity Raising and Financial Strategy - Lotus Resources is undertaking an equity raising of approximately A$65 million through a placement of new shares [36, 92] - The offer price for the new shares is A$0.19 per share, representing a 15.6% discount to the last closing price on September 2, 2025 [92] - The equity raise aims to strengthen the balance sheet, providing financial flexibility for offtake strategy, inventory accumulation, and capital optimization [36, 92] - Approximately US$18 million (A$28M) of the proceeds will fund grid connection costs, previously intended to be funded off-balance sheet [41, 92] - Approximately US$2 million (A$2M) will fund remaining mining equipment, also previously intended to be funded by the contractor [41, 92] - US$17 million (A$26M) is allocated for the tailings storage facility (TSF) in FY2026, following detailed design changes [41, 92] Operational and Production Overview - Kayelekera restart achieved on schedule and within budget, with first yellowcake drummed in Q3 2025 [36, 52] - Targeting a steady-state production level of 2.4 Mlbs of U3O8 per annum in Q1 2026 at Kayelekera [36, 56] - The Accelerated Restart Plan for Kayelekera had an initial restart capex of US$50 million [52] Resource Base and Future Growth - The company has a strategic dual-asset portfolio with 165 Mlb U3O8 Global Mineral Resource [37] - Letlhakane scoping study indicates potential to be a 5.5 Mlbpa uranium producer [21]