Hope, Canada

Cameco Corporation

www.cameco.com/
Hope, Canada

Cameco Corporation is the world's largest publicly traded uranium company, based in Saskatoon, Saskatchewan. In 2012, it was the world's third largest uranium producer, accounting for 14% of world production. Wikipedia.

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News Article | April 28, 2017
Site: www.marketwired.com

ALL AMOUNTS ARE STATED IN CDN $ (UNLESS NOTED) Cameco (TSX:CCO)(NYSE:CCJ) today reported its consolidated financial and operating results for the first quarter ended March 31, 2017 in accordance with International Financial Reporting Standards (IFRS). "There were several first-quarter developments that generated both positive and negative sentiment in our market," said president and CEO, Tim Gitzel. "However, on balance, our cautious optimism remains unchanged and in the near term, we will continue to evaluate all of our supply sources in light of an unsustainably weak price environment." "As we expected, our first quarter sales were light, resulting in the usual seasonality of our cash flow. However, our strategic focus on costs and efficiency is beginning to pay off, with administration and production costs coming down significantly compared to last year. Our 2017 sales remain on track, at an average realized price that is well above the current market, a market that remains uncertain and oversupplied. We're managing through the uncertainty, but even low-cost operations like ours, face pressure. Once the uncertainty clears and uranium demand picks up, we expect prices will move significantly higher, and we will be in the enviable position of being able to respond with expanded capacity at our low-cost, world-class assets. With Japan continuing down its path to restarting reactors, and with construction of new nuclear plants fueling increasing future uranium requirements, we believe our focus on value and on our tier-one assets will allow us to maintain our competitive position, and thrive in a rising market." Summary of first quarter results and developments: The 2016 first quarter and 2017 first quarter financial information presented is unaudited. The following table shows what contributed to the change in net earnings and adjusted net earnings (non-IFRS measure, see page 2) in the first quarter of 2017, compared to the first quarter of 2016. Adjusted net earnings is a measure that does not have a standardized meaning or a consistent basis of calculation under IFRS (non-IFRS measure). We use this measure as a more meaningful way to compare our financial performance from period to period. We believe that, in addition to conventional measures prepared in accordance with IFRS, certain investors use this information to evaluate our performance. Adjusted net earnings is our net earnings attributable to equity holders, adjusted to better reflect the underlying financial performance for the reporting period. The adjusted earnings measure reflects the matching of the net benefits of our hedging program with the inflows of foreign currencies in the applicable reporting period, and has also been adjusted for Rabbit Lake reclamation provisions, and income taxes on adjustments. Adjusted net earnings is non-standard supplemental information and should not be considered in isolation or as a substitute for financial information prepared according to accounting standards. Other companies may calculate this measure differently, so you may not be able to make a direct comparison to similar measures presented by other companies. The following table reconciles adjusted net earnings with our net earnings. Management's discussion and analysis and financial statements The first quarter MD&A and unaudited condensed consolidated interim financial statements provide a detailed explanation of our operating results for the three months ended March 31, 2017, as compared to the same period last year. This news release should be read in conjunction with these documents, as well as our audited consolidated financial statements and notes for the year ended December 31, 2016, annual MD&A, and our most recent annual information form, all of which are available on our website at www.cameco.com, on SEDAR at www.sedar.com, and on EDGAR at www.sec.gov/edgar.shtml. We announced today that our board of directors approved a quarterly dividend of $0.10 per share on the outstanding common shares of the corporation that is payable on July 14, 2017, to shareholders of record at the close of business on June 30, 2017. This news release includes statements and information about our expectations for the future, which we refer to as forward-looking information. Forward-looking information is based on our current views, which can change significantly, and actual results and events may be significantly different from what we currently expect. Examples of forward-looking information in this news release include: the statements made by Cameco's president and CEO on the first page regarding our forecast that 2017 sales remain on track, at an average realized price well above the market, our expectation once the uncertainty clears and uranium demand picks up, prices will move significantly higher, and we will be in the enviable position of being able to respond with expanded capacity at our low-cost, world-class assets, and our expectation that with Japan continuing down its path to restarting reactors, and with construction of new nuclear plants fueling increasing future uranium requirements, our focus on value and on our tier-one assets will allow us to maintain our competitive position, and thrive in a rising market; our 2017 financial outlook and production expectations; our expectation that pricing on deliveries in our uranium segment in the second and third quarters will yield results similar to the first quarter, and that the average realized price expected on deliveries in the fourth quarter will be higher; and our 2017 annual average realized price expectation. Material risks that could lead to a different result include: unexpected changes in demand for uranium, our production, sales and costs, our mineral reserve and resource estimates, and government regulations or policies; the risk that actual uranium prices and our average realized price are lower than we expect; the risk of litigation or arbitration claims against us that have an adverse outcome; the risk that our contract counterparties may not satisfy their commitments; the risk that our cost reduction strategies are unsuccessful, or have unanticipated consequences; the risk we do not obtain regulatory approvals and agreement from joint venture partners to expand production capacity; and the risk our estimates and forecasts prove to be inaccurate. In presenting the forward-looking information, we have made material assumptions which may prove incorrect about: expanding capacity at our tier-one assets and their future production costs; uranium demand and prices; our production, sales, average realized price, capital expenditures, and costs; the accuracy of our mineral reserve and other estimates; the absence of new and adverse government regulations or policies; the successful outcome of any litigation or arbitration claims against us; our ability to complete contracts on the agreed-upon terms; and that our cost reduction strategies will successfully achieve their objectives. Please also review the discussion in our first quarter and annual MD&A and our most recent annual information form for other material risks that could cause actual results to differ significantly from our current expectations, and other material assumptions we have made. Forward-looking information is designed to help you understand management's current views of our near- and longer-term prospects, and it may not be appropriate for other purposes. We will not necessarily update this information unless we are required to by securities laws. We invite you to join our first quarter conference call on Friday, April 28, 2017 at 1:00 p.m. Eastern. The call will be open to all investors and the media. To join the call, please dial (800) 319-4610 (Canada and US) or (604) 638-5340. An operator will put your call through. The slides and a live webcast of the conference call will be available from a link at www.cameco.com. See the link on our home page on the day of the call. A recorded version of the proceedings will be available: We plan to announce our remaining 2017 quarterly results as follows: The 2018 date for the announcement of our fourth quarter and 2017 consolidated financial and operating results will be provided in our 2017 third quarter MD&A. Announcement dates are subject to change. We are one of the world's largest uranium producers, a significant supplier of conversion services and one of two CANDU fuel manufacturers in Canada. Our competitive position is based on our controlling ownership of the world's largest high-grade reserves and low-cost operations. Our uranium products are used to generate clean electricity in nuclear power plants around the world. We also explore for uranium in the Americas, Australia and Asia. Our shares trade on the Toronto and New York stock exchanges. Our head office is in Saskatoon, Saskatchewan. As used in this news release, the terms we, us, our, the Company and Cameco mean Cameco Corporation and its subsidiaries; including NUKEM Energy GmbH, unless otherwise indicated.


News Article | May 8, 2017
Site: www.prnewswire.com

And the timing couldn't be better. Panic over nuclear North Korea, a sudden military about-face in Syria, soaring Asian demand and recession talk is positioning gold for a major bull run, and Fiore Exploration (F.V; FIORF) has acquired one of the most attractive exploration packages in Chile - the hottest metals venue in the world. The beginning of the gold turnaround came last year, but today, as global crisis hits fever pitch, we're looking at a bull run that will be bigger than anything we've seen in decades. We are again at the point of urgency for getting in on gold, and there is no better venue than Latin America - the leading growth continent for the precious metal. Fiore has scooped up almost all the best exploration territory surrounding the world-class El Penon gold mine owned by major player, Yamana Gold. In a deal that a junior explorer could only manage if backed by heavy hitters, Fiore acquired a massive land package of three separate blocks. Gold is being rendered even more attractive for Americans amid economic uncertainty most succinctly expressed by billionaire investor Warren Buffett of Berkshire Hathaway Inc., who noted that the U.S. is 'less well equipped to handle a financial crisis today than we were in 2008.' Central Banks world over have also been stockpiling the precious metal since 2008, at levels not seen since before 1970. One of the world's biggest legends in mining, Canadian billionaire, Frank Giustra, who is also the founder of Lionsgate Entertainment Corporation (NYSE: LGF), is pouncing on gold voraciously, and where his gold money goes, markets tend to follow. He's also the heavy hitter backing Fiore. The big money to be made in gold is in exploration, especially if you can find a junior backed by legendary mining money and a dream team of explorers. Giustra hitched his wagon to several already, but only to those with dream teams and exceptional vision. He hasn't been wrong yet. Here are 5 reasons to keep a very close eye on Fiore Exploration (F.V; FIORF): The team behind Fiore has been in Chile - the No. 1 mining venue in South America, for over 20 years. CEO, Tim Warman is a 25-year mining veteran perhaps best known for helping to close a $1.2-billion deal with Kinross. Warman has a long track record of making multi-million-dollar discoveries and keeping his shareholders very happy, both with Aurelian Resources and Dalradian. In fact, Aurelian sold to Kinross for $1.2 billion, while Dalradian's stock hit a market cap of a couple hundred million dollars. He's also well-known at Barrick Gold (NYSE: ABX), whose 6.8-million-ounce Alturas deposit was discovered by Malbex-a company Warman used to run. Besides Warman, one of the most sought-after geologists on the mining scene, the team also includes Brian Paes-Braga and Paul Matysek, two more heavy weights with impressive track records. Paes-Braga is best known as the Founder and CEO of one of the most striking junior lithium companies to hit the scene, since the electric vehicle (EV) boom sparked the lithium craze. And Matysek has created shareholder value of well over $2 billion in gold, lithium, potash and uranium. With this dream team behind it, Fiore is anything but your average drill play. Fiore has grabbed attention in a space where only the majors get it, because it's managed to secure the permits to surround Yamana's majestic El Peñon Gold mine. Yamana produced 227,000 ounces of gold and 7.7 million ounces of silver last year alone-worth $286 million and $130 million, respectively. Fiore's (F.V; FIORF) entrance onto this scene was explosive, and a headline-grabbing surprise. These are first-movers parked right next to a major producing gold mine, and they're ready to take on more. Pampas is just a starter project, but a big one backed by heavy hitters. And it doesn't stop here; the company is currently looking into the acquisition of equally prospective properties. A development we expect to hear about any day. In the industry, 'closeology' is one of the deciding factors of success - and Fiore has it in droves. Yamana's El Peñón mine is one of the most prolific gold and silver mines in Latin America, whether we're talking about either size or grade. It's massive and its high-grade. El Peñón has produced over 3 million ounces of world-class gold and more than 90 million ounces of silver since it went into production in 2000. Annually, this mine accounts for 18 percent of Yamana's gold production, and annually it produces nearly 230,000 ounces of gold for the company. And there's still a lot to come: We're still looking at 2.4 million ounces of gold left in the mine, and another 77 million ounces of silver. Fiore now surrounds this massive mine on three sides, so they've inherited all the infrastructure, and a massive exploration patch in a known money-maker. In fact, one can stand on Fiore's land and throw a rock into Yamana's pit. And Fiore's leadership has great relationships with the corporate teams of the majors it's right next to, so they have access to the grounds that the average junior minor wouldn't. It's not just Yamana, it's also Chilean giant (NYSE: SQM) - a relationship that goes a long way toward getting things done in Chile. Now Fiore's got a second major project, Cerro Tostado, again, flanking Yamana and just north or Anglo American's El Soldado mine and Austral Gold's El Guanaco mine. And it gets bigger, still. In April, Fiore acquired the Rio Loa gold exploration project in Chile's prolific Maricunga belt. This again is right next to another major mine, the Gold Field's 3.3-million-ounce Salares Norte discovery. Salares Norte is one of the highest-grade gold deposits in this belt, which boasts more than 100 million ounces of gold in reserves, resources and past production. Fiore is hungry for undervalued assets in known mining districts with multi-million-ounce deposits, and investors are going to love it. Fiore's (F.V; FIORF) breaks the mold when it comes to small-cap gold miners in more ways than one. There's nothing an investor likes more than a company with positive cash flow and the ability to raise capital with the snap of the fingers. Fiore is backed by legendary financer, Frank Giustra, so with big money following its dream team around, Fiore has no trouble raising the capital it needs to drill. This gives Fiore access to capital that most juniors don't have, and last year alone they raised $16 million. Giustra, the Canadian business mogul, who really needs no introduction as he has financed countless high-level natural resource deals, is known for financing the right mining deals at just the right time. So much so that it has become known in industry circles as the 'Giustra Premium', which is exactly why Fiore is so well-followed at this stage. Fiore is already heavily funded-more than enough for its current exploration program, and more acquisitions are in the future. Fiore completed drilling an 8,000-meter RC drill program in December. The first drilling results at Pampas El Peñon have been promising, and follow-up drilling is planned before mid-year. Over $1 million has already been spent and most of the mapping, sampling, trenching and near-surface drilling has been completed - all showing similarities to the major gold reserves right next to it. Three areas within rhyolitic domes with breccias and favorable geochemistry were identified and as priority drill targets - all of them in immediate vicinity of the Pampa Augusta Victoria open-pit and underground mines. And this week already Fiore will kick off its drilling program at Cerro Tostado, with initial results coming in subsequent weeks. And the previous work done here by Chile's SQM was already promising. The results of some 1,937 meters of reverse-circulation drilling in 17 holes confirmed the presence of structurally controlled silver-dominated mineralization, with highly anomalous levels of silver, arsenic and antimony and anomalous levels of lead and zinc. To Re-Cap: With Fiore, we've got a unique junior explorer here that has done something that juniors just don't do: Flanked major miners in a flurry of acquisitions that we already know are highly prospective for gold and silver. Even better - they've got heavy weight backing to take this to the finish line. And with drilling results set to come in soon, this finish line is getting close, fast. And the time is now for gold. Giustra is putting his money where his mouth is and so far he's been spot on. He recently told an audience at a Vancouver investment conference that the worsening political and economic uncertainty on the global stage was going to feed an incredibly bullish gold market, one that could quite possibly surpass the $1900 an ounce mark. So, says Giustra, if you're looking at gold as an investor, you've got to get in now because this window is closing fast. That's why he has major money in three gold explorers right now. This is a rare chance to get in on a cycle opportunity for unexplored, under-explored and undervalued precious metals in Latin America, and the whole set-up with Fiore's (F.V; FIORF) potentially offers more reward than risk. Here are some more New York-listed players worth watching: IAMGOLD Corporation (NYSE: IAG): IAMGOLD has been getting a fair amount of attention lately, because while it's shares have dipped since they hit their peak in the summer of 2016 and they are still weak, but they are gaining now, so it might be a good time to get in while undervalued. Cameco Corporation: Cameco-a US$4.52-billion market cap company-is trading at a major discount to its intrinsic value right now, and it's a good play for dividend-focused investors. Hecla Mining (NYSE: HL): 2016 was a big year for Hecla (market cap US$2.04 billion), with silver production up 48% and gold up 24%, though 2017's production targets won't be as big. Agnico Eagle Mines (NYSE: AEM): Any more upside in this miner and it will go directly to shareholders. This has been one of the best performers in recent years, and most attribute it to great asset management and fiscal conservatism that has resulted in low-cost production. Legal Disclaimer/Disclosure from OilPrice.com: This piece is an advertorial and has been paid for. This document is not and should not be construed as an offer to sell or the solicitation of an offer to purchase or subscribe for any investment. No information in this Report should be construed as individualized investment advice. A licensed financial advisor should be consulted prior to making any investment decision. We make no guarantee, representation or warranty and accept no responsibility or liability as to its accuracy or completeness. Expressions of opinion are those of Oilprice.com only and are subject to change without notice. Oilprice.com assumes no warranty, liability or guarantee for the current relevance, correctness or completeness of any information provided within this Report and will not be held liable for the consequence of reliance upon any opinion or statement contained herein or any omission. Furthermore, we assume no liability for any direct or indirect loss or damage or, in particular, for lost profit, which you may incur as a result of the use and existence of the information, provided within this Report. All content contained herein is subject to the terms and conditions set forth in the original article posted on Oilprice.com and subject to the terms and conditions therein. DISCLAIMER: OilPrice.com is Source of all content listed above. FN Media Group, LLC (FNM), is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated in any manner with OilPrice.com or any company mentioned herein. The commentary, views and opinions expressed in this release by OilPrice.com are solely those of OilPrice.com and are not shared by and do not reflect in any manner the views or opinions of FNM. FNM is not liable for any investment decisions by its readers or subscribers. 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News Article | May 11, 2017
Site: www.prnewswire.com

Fiore Exploration (F.V; FIORF) has scooped up almost all the best exploration territory surrounding the world-class El Peñon gold mine in Chile in a deal that a junior explorer could only manage if backed by heavy hitters. With the newest round of drilling results expected soon, Fiore's timing couldn't be better. Last week, the big speculators in gold futures increased their net long positions. The message is bullish, and it's loud. The gold hoarding started in April, with JP Morgan boosting its portfolio by over 380,000 ounces. iShares Gold Trust (NYSEARCA:IAU) and SPDR Gold Trust (NYSEARCA:GLD) also jumped on this bullish bandwagon, with IAU adding over 26,000 ounces and GLD over a million. Everyone is scared as North Korea plays games with nuclear weapons, the Middle East flares up with direct U.S. involvement, and talk of recession intensifies. Where there is fear, there is gold fever. Warren Buffet knows it-and he's always advised us to be greedy when others are fearful. He's been warning everyone about the economic uncertainty for months. Legendary Canadian billionaire and mining financier, Frank Giustra knows it, too. He's been pouncing on gold lately, and he's the heavy hitter backing Fiore. If it's big money you're looking to make with gold, then look to the explorers-especially a junior that's surrounded by giant Yamana Gold's El Peñon on three sides. Giustra has financed several junior explorers recently-but only those with dream teams and exceptional vision. He hasn't been wrong yet, and his next big bet is Fiore Exploration. Why Fiore? Because Fiore's team has been in Chile for over two decades, and it's clear they can get things done with shareholder value in mind. With Giustra's backing, Fiore Exploration (F.V; FIORF) is in a position that few juniors enjoy: They have no trouble raising the capital to drill. Where Giustra goes, mining money follows because the legendary financier is known in industry circles for financing the right deals at exactly the right time. It's called the 'Giustra Premium'. What he's eyeing this time is CEO Tim Warman, a 25-year mining veteran who, among other major successes, closed a $1.2-billion deal with mining giant Kinross Gold (NYSE: KGC). Warman has a long track record of making multimillion-dollar discoveries and keeping his shareholders very happy. Warman also ran Malbex--the company that made the 6.8-million-ounce Alturas gold discovery that now belongs to giant Barrick Gold. Giustra is also keen on two other key figures at Fiore: Brian Paes-Braga and Paul Matysek. Paes-Braga is the Founder and CEO of the most notable junior lithium explorer to rise to fame since the electric vehicle (EV) boom prompted a lithium craze. Matysek is well-known for creating over $2 billion in shareholder value across numerous resources, including gold, lithium and uranium. To get Giustra's attention, you can't be averag; and Fiore is no average junior. In landing the permits to surround Yamana's El Peñon Gold mine, Fiore has done what no other junior could do: It flanked a major producer on three sides in a highly prospective gold venue. Yamana's El Peñón mine is one of the most prolific gold and silver mines in Latin America. It's massive, and it's high-grade. El Peñón has produced over 3 million ounces of world-class gold and more than 90 million ounces of silver since it went into production in 2000. This mine accounts for 18 percent of Yamana's gold production, producing nearly 230,000 ounces of gold annually for the company. That's worth over $280 million. And there's still a lot to come: There is about 2.4 million ounces of gold left in the mine, and another 77 million ounces of silver. Fiore Exploration (F.V; FIORF) now surrounds this mine on three sides, so they've inherited all the infrastructure and a massive exploration patch in a known money-maker. But they've also got wider access due to solid relations with the majors next door, including Yamana and Chilean giant SQM. Fiore's second major project, Cerro Tostado, is also close to Yamana and just north of Anglo American's El Soldado mine and Austral Gold's El Guanaco mine. A third project, acquired by Fiore in April, is Rio Loa-a gold exploration play in Chile's prolific Maricunga belt. It's another case of brilliant 'closeology': It's right next to Gold Field's 3.3-million-ounce Salares Norte discovery, which is one of the highest-grade deposits in this belt. It boasts more than 100 million ounces of gold in reserves, resources and past production. In the meantime, first drilling results at the flagship Pampas El Peñon project have been impressive. In December, Fiore completed drilling an 8,000-meter RC drill program, and follow-up drilling will start this summer. The 'closeology' has so far worked as expected: After spending more than $1 million on mapping, sampling, trenching and near-surface drilling, the similarities to the major gold finds right next door have become clear. We expect more results soon from Fiore because this week Fiore will launch drilling at Cerro Tostado, with initial results coming in subsequent weeks. Chile's SQM (NYSE: SQM) has already done advance work on this play, with the results of some 1,937 meters of reverse-circulation drilling in 17 holes confirming the presence of structurally control silver-dominated mineralization, with highly anomalous levels of silver. If you're looking at gold, you're looking at a window that's closing fast on great buying opportunities, according to Giustra, who predicts gold could pass the $1,900/ounce mark in the medium term. Everything's feeding a bullish gold market, and first movers on new gold plays-especially with a junior Fiore Exploration (F.V; FIORF) that is preparing to unleash new drilling results, is fully financed and remains acquisition-hungry. And when it's got the 'Giustra Premium',even better. Some other Canadian-listed gold miners to keep an eye on: - Endeavor Mining Corporation: EDV has a solid West African mining portfolio and it's stock has been outperforming lately, with consensus to buy. - Centerra Gold Inc.: This is a Canadian mining spin-off of Cameco Corporation (NYSE: CCJ), and a major acquisition last year in Kyrgyzstan could make this year great for cash flow and boost valuations. - Nova Gold Resources Inc. (NYSE: NG): Nova Gold is worth attention because it's been underperforming and it's stocks have lost a lot, but are now starting to make gains. - Torex Gold Resources Inc.: This should be a good year for Torex. It's sitting on the attractive Morelos Gold Property in Mexico's Guerrero Gold Belt and is nearing full production at its El Limón-Guajes mine in Mexico, which launched the start of commercial production last year. Legal Disclaimer/Disclosure from OilPrice.com: This piece is an advertorial and has been paid for. This document is not and should not be construed as an offer to sell or the solicitation of an offer to purchase or subscribe for any investment. No information in this Report should be construed as individualized investment advice. A licensed financial advisor should be consulted prior to making any investment decision. We make no guarantee, representation or warranty and accept no responsibility or liability as to its accuracy or completeness. Expressions of opinion are those of Oilprice.com only and are subject to change without notice. Oilprice.com assumes no warranty, liability or guarantee for the current relevance, correctness or completeness of any information provided within this Report and will not be held liable for the consequence of reliance upon any opinion or statement contained herein or any omission. Furthermore, we assume no liability for any direct or indirect loss or damage or, in particular, for lost profit, which you may incur as a result of the use and existence of the information, provided within this Report. All content contained herein is subject to the terms and conditions set forth in the original article posted on Oilprice.com and subject to the terms and conditions therein. DISCLAIMER: OilPrice.com is Source of all content listed above. FN Media Group, LLC (FNM), is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated in any manner with OilPrice.com or any company mentioned herein. The commentary, views and opinions expressed in this release by OilPrice.com are solely those of OilPrice.com and are not shared by and do not reflect in any manner the views or opinions of FNM. FNM is not liable for any investment decisions by its readers or subscribers. FNM and its affiliated companies are a news dissemination and financial marketing solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNM was not compensated by any public company mentioned herein to disseminate this press release. FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE. This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". 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VANCOUVER, B.C., May 10, 2017 (GLOBE NEWSWIRE) -- Skyharbour Resources Ltd. (TSX-V:SYH) (OTCQB:SYHBF) (Frankfurt:SC1P) (the “Company”) is pleased to announce the Company’s option partner Azincourt Uranium (TSX-V: AAZ) (“Azincourt”) has announced details for an upcoming exploration program at the East Preston Uranium Project. Their exploration program is slated to commence this summer / early fall with the purpose of locating new drill targets that were previously untested and refining other additional targets within the Swoosh corridor. Skyharbour and Clean Commodities recently entered into Option Agreement (the “Agreement”) with Azincourt which provides Azincourt an earn-in option to acquire a 70% working interest in the East Preston Property (see news release dated March 28th, 2017). Under the Agreement, Azincourt has issued to Skyharbour and Clean Commodities each 2,250,000 common shares and will contribute cash and exploration expenditure consideration totaling up to CAD $3,500,000 in exchange for up to 70% of the applicable property area over three years. Of the $3,500,000 in project consideration, $1,000,000 will be in cash payments to Skyharbour and Clean Commodities. The Preston Uranium Project is a strategic, district-scale property with robust exploration upside potential throughout and is located near recent high-grade discoveries in the Patterson Lake area including NexGen Energy’s Arrow deposit, Fission Uranium’s Triple R deposit, and the Spitfire discovery. Skyharbour’s President and CEO, Jordan Trimble commented: “Skyharbour continues to execute on its business model by adding value to its project base in the Athabasca Basin through focused mineral exploration at its flagship Moore Uranium Project, with final winter drill results expected shortly, as well as utilizing the prospect generator model to advance its other projects with strategic partners. The option agreement with Azincourt complements the other recent option agreement we signed with industry-leader AREVA Resources Canada and together the two option agreements combine for $9,800,000 in total exploration expenditures over six years, as well as $1,700,000 in total cash payments and the issuance of 4,500,000 shares of Azincourt split between Skyharbour and Clean Commodities in return for 70% interests in the respective property areas. We are excited to have Azincourt commencing exploration programs at East Preston shortly which will contribute to ample news flow for Skyharbour over the next year including Azincourt and AREVA’s exploration programs at Preston as well as the Company’s upcoming summer drill program at the Moore Uranium Project.” The East Preston property had extensive regional exploration work completed in 2013 and 2014 including airborne electromagnetic (VTEM), magnetic and radiometric surveys. Three prospective conductive, low magnetic signature corridors have been discovered on the property area. The three distinct corridors have a total strike length of over 25 km, each with multiple EM conductor trends identified. Ground prospecting and sampling work completed to date has identified outcrop, soil, biogeochemical and radon anomalies, which are key pathfinder elements for potential uranium deposit discoveries. Only one of the corridors has been drill tested to date, intersecting structurally disrupted graphitic metasedimentary rocks at the Swoosh S6 target using a combination of Horizontal Loop EM (HLEM) and gravity as primary targeting tools. Following positive technical discussions between Azincourt and Skyharbour’s geological teams, Azincourt is planning to complete a summer / fall exploration program aimed at generating new drill targets within the previously untested corridors and refining additional targets along the Swoosh corridor. The proposed work to be completed will include re-logging and sampling of the seven diamond drill holes (1,571 m) drilled in 2014, with additional ground electromagnetic survey work (HLEM) and ground gravity planned along the airborne conductive trends. Additional ground geochemical sampling work is also being considered, but will be used to enhance any target areas identified from the geophysical surveys. The exploration work program planned is budgeted at $250,000 and is being planned for completion by the fall of 2017 to allow for future winter drill target testing. The significant potential of the Western Athabasca Basin has been highlighted by recent discoveries in the area by NexGen Energy Ltd. (Arrow), Fission Uranium Corp. (Triple R) and a joint-venture consisting of Cameco Corporation, AREVA Resources Canada Inc. and Purepoint Uranium Group Inc. (Spitfire). More than $4.7-million in expenditures on the entire Preston Uranium Project have been incurred to date, including over $2 million at East Preston. This exploration has consisted of ground gravity, airborne and ground electromagnetics, radon, soil, silt, biogeochem, lake sediment, and geological mapping surveys, as well as two exploratory drill programs. Several high-priority drill target areas associated with multiple prospective exploration corridors have been successfully delineated through this methodical, multiphased exploration initiative, which has culminated in an extensive, proprietary geological database for the project area. Furthermore, on March 9th, 2017, Skyharbour announced an option agreement with AREVA Resources Canada which provides AREVA an earn-in option to acquire up to a 70% working interest in a 49,635-hectare portion of the total 121,148 hectares Preston Uranium Project (see News Release dated March 9th, 2017). Under the agreement, AREVA can contribute cash and exploration program consideration totaling up to CAD $8,000,000 in exchange for up to 70% of the applicable project area over six years. Skyharbour holds an extensive portfolio of uranium and thorium exploration projects in Canada's Athabasca Basin and is well positioned to benefit from improving uranium market fundamentals with five drill-ready projects. In July 2016, Skyharbour acquired an option from Denison Mines to acquire 100% of the Moore Uranium Project which is located 20 kilometres east of Denison’s Wheeler River project and 39 kilometres south of Cameco’s McArthur River mine. Moore is an advanced stage uranium exploration property with a high grade uranium zone known as the Maverick Zone returning drill results of up to 6.0% U3O8 over 5.9 metres including 20.8% U3O8 over 1.5 metres at a vertical depth of 265 metres. Skyharbour and its partner Clean Commodities recently signed option agreements with AREVA Resources Canada and Azincourt Uranium whereby AREVA and Azincourt can earn in 70% on the Preston Project through a combined $9,800,000 in total exploration expenditures, as well as $1,700,000 in total cash payments and 4,500,000 Azincourt shares. Preston is a large, geologically prospective property proximal to Fission Uranium’s Triple R deposit as well as NexGen Energy’s Arrow deposit. The Company also owns a 100% interest in the Falcon Point Uranium Project on the eastern perimeter of the Basin which contains an NI 43-101 inferred resource totaling 7.0 million pounds of U3O8 at 0.03% and 5.3 million pounds of ThO2 at 0.023%. The project also hosts a high grade surface showing with up to 68% U3O8 in grab samples from a massive pitchblende vein, the source of which has yet to be discovered. The Company’s 100% owned Mann Lake Uranium project on the east side of the Basin is strategically located adjacent to the Mann Lake Joint Venture operated by Cameco, where high-grade uranium mineralization was recently discovered. Skyharbour’s goal is to maximize shareholder value through new mineral discoveries, committed long-term partnerships, and the advancement of exploration projects in geopolitically favourable jurisdictions. To find out more about Skyharbour Resources Ltd. (TSX-V:SYH) visit the Company’s website at www.skyharbourltd.com. For further information contact myself or: Nick Findler Corporate Communications Skyharbour Resources Ltd. Telephone: 604-687-3376 Toll Free: 800-567-8181 Facsimile: 604-687-3119 Email: info@skyharbourltd.com NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE. This release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.


VANCOUVER, B.C., May 10, 2017 (GLOBE NEWSWIRE) -- Skyharbour Resources Ltd. (TSX-V:SYH) (OTCQB:SYHBF) (Frankfurt:SC1P) (the “Company”) is pleased to announce the Company’s option partner Azincourt Uranium (TSX-V: AAZ) (“Azincourt”) has announced details for an upcoming exploration program at the East Preston Uranium Project. Their exploration program is slated to commence this summer / early fall with the purpose of locating new drill targets that were previously untested and refining other additional targets within the Swoosh corridor. Skyharbour and Clean Commodities recently entered into Option Agreement (the “Agreement”) with Azincourt which provides Azincourt an earn-in option to acquire a 70% working interest in the East Preston Property (see news release dated March 28th, 2017). Under the Agreement, Azincourt has issued to Skyharbour and Clean Commodities each 2,250,000 common shares and will contribute cash and exploration expenditure consideration totaling up to CAD $3,500,000 in exchange for up to 70% of the applicable property area over three years. Of the $3,500,000 in project consideration, $1,000,000 will be in cash payments to Skyharbour and Clean Commodities. The Preston Uranium Project is a strategic, district-scale property with robust exploration upside potential throughout and is located near recent high-grade discoveries in the Patterson Lake area including NexGen Energy’s Arrow deposit, Fission Uranium’s Triple R deposit, and the Spitfire discovery. Skyharbour’s President and CEO, Jordan Trimble commented: “Skyharbour continues to execute on its business model by adding value to its project base in the Athabasca Basin through focused mineral exploration at its flagship Moore Uranium Project, with final winter drill results expected shortly, as well as utilizing the prospect generator model to advance its other projects with strategic partners. The option agreement with Azincourt complements the other recent option agreement we signed with industry-leader AREVA Resources Canada and together the two option agreements combine for $9,800,000 in total exploration expenditures over six years, as well as $1,700,000 in total cash payments and the issuance of 4,500,000 shares of Azincourt split between Skyharbour and Clean Commodities in return for 70% interests in the respective property areas. We are excited to have Azincourt commencing exploration programs at East Preston shortly which will contribute to ample news flow for Skyharbour over the next year including Azincourt and AREVA’s exploration programs at Preston as well as the Company’s upcoming summer drill program at the Moore Uranium Project.” The East Preston property had extensive regional exploration work completed in 2013 and 2014 including airborne electromagnetic (VTEM), magnetic and radiometric surveys. Three prospective conductive, low magnetic signature corridors have been discovered on the property area. The three distinct corridors have a total strike length of over 25 km, each with multiple EM conductor trends identified. Ground prospecting and sampling work completed to date has identified outcrop, soil, biogeochemical and radon anomalies, which are key pathfinder elements for potential uranium deposit discoveries. Only one of the corridors has been drill tested to date, intersecting structurally disrupted graphitic metasedimentary rocks at the Swoosh S6 target using a combination of Horizontal Loop EM (HLEM) and gravity as primary targeting tools. Following positive technical discussions between Azincourt and Skyharbour’s geological teams, Azincourt is planning to complete a summer / fall exploration program aimed at generating new drill targets within the previously untested corridors and refining additional targets along the Swoosh corridor. The proposed work to be completed will include re-logging and sampling of the seven diamond drill holes (1,571 m) drilled in 2014, with additional ground electromagnetic survey work (HLEM) and ground gravity planned along the airborne conductive trends. Additional ground geochemical sampling work is also being considered, but will be used to enhance any target areas identified from the geophysical surveys. The exploration work program planned is budgeted at $250,000 and is being planned for completion by the fall of 2017 to allow for future winter drill target testing. The significant potential of the Western Athabasca Basin has been highlighted by recent discoveries in the area by NexGen Energy Ltd. (Arrow), Fission Uranium Corp. (Triple R) and a joint-venture consisting of Cameco Corporation, AREVA Resources Canada Inc. and Purepoint Uranium Group Inc. (Spitfire). More than $4.7-million in expenditures on the entire Preston Uranium Project have been incurred to date, including over $2 million at East Preston. This exploration has consisted of ground gravity, airborne and ground electromagnetics, radon, soil, silt, biogeochem, lake sediment, and geological mapping surveys, as well as two exploratory drill programs. Several high-priority drill target areas associated with multiple prospective exploration corridors have been successfully delineated through this methodical, multiphased exploration initiative, which has culminated in an extensive, proprietary geological database for the project area. Furthermore, on March 9th, 2017, Skyharbour announced an option agreement with AREVA Resources Canada which provides AREVA an earn-in option to acquire up to a 70% working interest in a 49,635-hectare portion of the total 121,148 hectares Preston Uranium Project (see News Release dated March 9th, 2017). Under the agreement, AREVA can contribute cash and exploration program consideration totaling up to CAD $8,000,000 in exchange for up to 70% of the applicable project area over six years. Skyharbour holds an extensive portfolio of uranium and thorium exploration projects in Canada's Athabasca Basin and is well positioned to benefit from improving uranium market fundamentals with five drill-ready projects. In July 2016, Skyharbour acquired an option from Denison Mines to acquire 100% of the Moore Uranium Project which is located 20 kilometres east of Denison’s Wheeler River project and 39 kilometres south of Cameco’s McArthur River mine. Moore is an advanced stage uranium exploration property with a high grade uranium zone known as the Maverick Zone returning drill results of up to 6.0% U3O8 over 5.9 metres including 20.8% U3O8 over 1.5 metres at a vertical depth of 265 metres. Skyharbour and its partner Clean Commodities recently signed option agreements with AREVA Resources Canada and Azincourt Uranium whereby AREVA and Azincourt can earn in 70% on the Preston Project through a combined $9,800,000 in total exploration expenditures, as well as $1,700,000 in total cash payments and 4,500,000 Azincourt shares. Preston is a large, geologically prospective property proximal to Fission Uranium’s Triple R deposit as well as NexGen Energy’s Arrow deposit. The Company also owns a 100% interest in the Falcon Point Uranium Project on the eastern perimeter of the Basin which contains an NI 43-101 inferred resource totaling 7.0 million pounds of U3O8 at 0.03% and 5.3 million pounds of ThO2 at 0.023%. The project also hosts a high grade surface showing with up to 68% U3O8 in grab samples from a massive pitchblende vein, the source of which has yet to be discovered. The Company’s 100% owned Mann Lake Uranium project on the east side of the Basin is strategically located adjacent to the Mann Lake Joint Venture operated by Cameco, where high-grade uranium mineralization was recently discovered. Skyharbour’s goal is to maximize shareholder value through new mineral discoveries, committed long-term partnerships, and the advancement of exploration projects in geopolitically favourable jurisdictions. To find out more about Skyharbour Resources Ltd. (TSX-V:SYH) visit the Company’s website at www.skyharbourltd.com. For further information contact myself or: Nick Findler Corporate Communications Skyharbour Resources Ltd. Telephone: 604-687-3376 Toll Free: 800-567-8181 Facsimile: 604-687-3119 Email: info@skyharbourltd.com NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE. This release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.


VANCOUVER, B.C., May 10, 2017 (GLOBE NEWSWIRE) -- Skyharbour Resources Ltd. (TSX-V:SYH) (OTCQB:SYHBF) (Frankfurt:SC1P) (the “Company”) is pleased to announce the Company’s option partner Azincourt Uranium (TSX-V: AAZ) (“Azincourt”) has announced details for an upcoming exploration program at the East Preston Uranium Project. Their exploration program is slated to commence this summer / early fall with the purpose of locating new drill targets that were previously untested and refining other additional targets within the Swoosh corridor. Skyharbour and Clean Commodities recently entered into Option Agreement (the “Agreement”) with Azincourt which provides Azincourt an earn-in option to acquire a 70% working interest in the East Preston Property (see news release dated March 28th, 2017). Under the Agreement, Azincourt has issued to Skyharbour and Clean Commodities each 2,250,000 common shares and will contribute cash and exploration expenditure consideration totaling up to CAD $3,500,000 in exchange for up to 70% of the applicable property area over three years. Of the $3,500,000 in project consideration, $1,000,000 will be in cash payments to Skyharbour and Clean Commodities. The Preston Uranium Project is a strategic, district-scale property with robust exploration upside potential throughout and is located near recent high-grade discoveries in the Patterson Lake area including NexGen Energy’s Arrow deposit, Fission Uranium’s Triple R deposit, and the Spitfire discovery. Skyharbour’s President and CEO, Jordan Trimble commented: “Skyharbour continues to execute on its business model by adding value to its project base in the Athabasca Basin through focused mineral exploration at its flagship Moore Uranium Project, with final winter drill results expected shortly, as well as utilizing the prospect generator model to advance its other projects with strategic partners. The option agreement with Azincourt complements the other recent option agreement we signed with industry-leader AREVA Resources Canada and together the two option agreements combine for $9,800,000 in total exploration expenditures over six years, as well as $1,700,000 in total cash payments and the issuance of 4,500,000 shares of Azincourt split between Skyharbour and Clean Commodities in return for 70% interests in the respective property areas. We are excited to have Azincourt commencing exploration programs at East Preston shortly which will contribute to ample news flow for Skyharbour over the next year including Azincourt and AREVA’s exploration programs at Preston as well as the Company’s upcoming summer drill program at the Moore Uranium Project.” The East Preston property had extensive regional exploration work completed in 2013 and 2014 including airborne electromagnetic (VTEM), magnetic and radiometric surveys. Three prospective conductive, low magnetic signature corridors have been discovered on the property area. The three distinct corridors have a total strike length of over 25 km, each with multiple EM conductor trends identified. Ground prospecting and sampling work completed to date has identified outcrop, soil, biogeochemical and radon anomalies, which are key pathfinder elements for potential uranium deposit discoveries. Only one of the corridors has been drill tested to date, intersecting structurally disrupted graphitic metasedimentary rocks at the Swoosh S6 target using a combination of Horizontal Loop EM (HLEM) and gravity as primary targeting tools. Following positive technical discussions between Azincourt and Skyharbour’s geological teams, Azincourt is planning to complete a summer / fall exploration program aimed at generating new drill targets within the previously untested corridors and refining additional targets along the Swoosh corridor. The proposed work to be completed will include re-logging and sampling of the seven diamond drill holes (1,571 m) drilled in 2014, with additional ground electromagnetic survey work (HLEM) and ground gravity planned along the airborne conductive trends. Additional ground geochemical sampling work is also being considered, but will be used to enhance any target areas identified from the geophysical surveys. The exploration work program planned is budgeted at $250,000 and is being planned for completion by the fall of 2017 to allow for future winter drill target testing. The significant potential of the Western Athabasca Basin has been highlighted by recent discoveries in the area by NexGen Energy Ltd. (Arrow), Fission Uranium Corp. (Triple R) and a joint-venture consisting of Cameco Corporation, AREVA Resources Canada Inc. and Purepoint Uranium Group Inc. (Spitfire). More than $4.7-million in expenditures on the entire Preston Uranium Project have been incurred to date, including over $2 million at East Preston. This exploration has consisted of ground gravity, airborne and ground electromagnetics, radon, soil, silt, biogeochem, lake sediment, and geological mapping surveys, as well as two exploratory drill programs. Several high-priority drill target areas associated with multiple prospective exploration corridors have been successfully delineated through this methodical, multiphased exploration initiative, which has culminated in an extensive, proprietary geological database for the project area. Furthermore, on March 9th, 2017, Skyharbour announced an option agreement with AREVA Resources Canada which provides AREVA an earn-in option to acquire up to a 70% working interest in a 49,635-hectare portion of the total 121,148 hectares Preston Uranium Project (see News Release dated March 9th, 2017). Under the agreement, AREVA can contribute cash and exploration program consideration totaling up to CAD $8,000,000 in exchange for up to 70% of the applicable project area over six years. Skyharbour holds an extensive portfolio of uranium and thorium exploration projects in Canada's Athabasca Basin and is well positioned to benefit from improving uranium market fundamentals with five drill-ready projects. In July 2016, Skyharbour acquired an option from Denison Mines to acquire 100% of the Moore Uranium Project which is located 20 kilometres east of Denison’s Wheeler River project and 39 kilometres south of Cameco’s McArthur River mine. Moore is an advanced stage uranium exploration property with a high grade uranium zone known as the Maverick Zone returning drill results of up to 6.0% U3O8 over 5.9 metres including 20.8% U3O8 over 1.5 metres at a vertical depth of 265 metres. Skyharbour and its partner Clean Commodities recently signed option agreements with AREVA Resources Canada and Azincourt Uranium whereby AREVA and Azincourt can earn in 70% on the Preston Project through a combined $9,800,000 in total exploration expenditures, as well as $1,700,000 in total cash payments and 4,500,000 Azincourt shares. Preston is a large, geologically prospective property proximal to Fission Uranium’s Triple R deposit as well as NexGen Energy’s Arrow deposit. The Company also owns a 100% interest in the Falcon Point Uranium Project on the eastern perimeter of the Basin which contains an NI 43-101 inferred resource totaling 7.0 million pounds of U3O8 at 0.03% and 5.3 million pounds of ThO2 at 0.023%. The project also hosts a high grade surface showing with up to 68% U3O8 in grab samples from a massive pitchblende vein, the source of which has yet to be discovered. The Company’s 100% owned Mann Lake Uranium project on the east side of the Basin is strategically located adjacent to the Mann Lake Joint Venture operated by Cameco, where high-grade uranium mineralization was recently discovered. Skyharbour’s goal is to maximize shareholder value through new mineral discoveries, committed long-term partnerships, and the advancement of exploration projects in geopolitically favourable jurisdictions. To find out more about Skyharbour Resources Ltd. (TSX-V:SYH) visit the Company’s website at www.skyharbourltd.com. For further information contact myself or: Nick Findler Corporate Communications Skyharbour Resources Ltd. Telephone: 604-687-3376 Toll Free: 800-567-8181 Facsimile: 604-687-3119 Email: info@skyharbourltd.com NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE. This release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.


VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 10, 2017) - Skyharbour Resources Ltd. (TSX VENTURE:SYH)(OTCQB:SYHBF)(FRANKFURT:SC1P) (the "Company") is pleased to announce the Company's option partner Azincourt Uranium (TSX VENTURE:AAZ) ("Azincourt") has announced details for an upcoming exploration program at the East Preston Uranium Project. Their exploration program is slated to commence this summer / early fall with the purpose of locating new drill targets that were previously untested and refining other additional targets within the Swoosh corridor. Skyharbour and Clean Commodities recently entered into Option Agreement (the "Agreement") with Azincourt which provides Azincourt an earn-in option to acquire a 70% working interest in the East Preston Property (see news release dated March 28th, 2017). Under the Agreement, Azincourt has issued to Skyharbour and Clean Commodities each 2,250,000 common shares and will contribute cash and exploration expenditure consideration totaling up to CAD $3,500,000 in exchange for up to 70% of the applicable property area over three years. Of the $3,500,000 in project consideration, $1,000,000 will be in cash payments to Skyharbour and Clean Commodities. The Preston Uranium Project is a strategic, district-scale property with robust exploration upside potential throughout and is located near recent high-grade discoveries in the Patterson Lake area including NexGen Energy's Arrow deposit, Fission Uranium's Triple R deposit, and the Spitfire discovery. Skyharbour's President and CEO, Jordan Trimble commented: "Skyharbour continues to execute on its business model by adding value to its project base in the Athabasca Basin through focused mineral exploration at its flagship Moore Uranium Project, with final winter drill results expected shortly, as well as utilizing the prospect generator model to advance its other projects with strategic partners. The option agreement with Azincourt complements the other recent option agreement we signed with industry-leader AREVA Resources Canada and together the two option agreements combine for $9,800,000 in total exploration expenditures over six years, as well as $1,700,000 in total cash payments and the issuance of 4,500,000 shares of Azincourt split between Skyharbour and Clean Commodities in return for 70% interests in the respective property areas. We are excited to have Azincourt commencing exploration programs at East Preston shortly which will contribute to ample news flow for Skyharbour over the next year including Azincourt and AREVA's exploration programs at Preston as well as the Company's upcoming summer drill program at the Moore Uranium Project." The East Preston property had extensive regional exploration work completed in 2013 and 2014 including airborne electromagnetic (VTEM), magnetic and radiometric surveys. Three prospective conductive, low magnetic signature corridors have been discovered on the property area. The three distinct corridors have a total strike length of over 25 km, each with multiple EM conductor trends identified. Ground prospecting and sampling work completed to date has identified outcrop, soil, biogeochemical and radon anomalies, which are key pathfinder elements for potential uranium deposit discoveries. Only one of the corridors has been drill tested to date, intersecting structurally disrupted graphitic metasedimentary rocks at the Swoosh S6 target using a combination of Horizontal Loop EM (HLEM) and gravity as primary targeting tools. Following positive technical discussions between Azincourt and Skyharbour's geological teams, Azincourt is planning to complete a summer / fall exploration program aimed at generating new drill targets within the previously untested corridors and refining additional targets along the Swoosh corridor. The proposed work to be completed will include re-logging and sampling of the seven diamond drill holes (1,571 m) drilled in 2014, with additional ground electromagnetic survey work (HLEM) and ground gravity planned along the airborne conductive trends. Additional ground geochemical sampling work is also being considered, but will be used to enhance any target areas identified from the geophysical surveys. The exploration work program planned is budgeted at $250,000 and is being planned for completion by the fall of 2017 to allow for future winter drill target testing. The significant potential of the Western Athabasca Basin has been highlighted by recent discoveries in the area by NexGen Energy Ltd. (Arrow), Fission Uranium Corp. (Triple R) and a joint-venture consisting of Cameco Corporation, AREVA Resources Canada Inc. and Purepoint Uranium Group Inc. (Spitfire). More than $4.7-million in expenditures on the entire Preston Uranium Project have been incurred to date, including over $2 million at East Preston. This exploration has consisted of ground gravity, airborne and ground electromagnetics, radon, soil, silt, biogeochem, lake sediment, and geological mapping surveys, as well as two exploratory drill programs. Several high-priority drill target areas associated with multiple prospective exploration corridors have been successfully delineated through this methodical, multiphased exploration initiative, which has culminated in an extensive, proprietary geological database for the project area. Furthermore, on March 9th, 2017, Skyharbour announced an option agreement with AREVA Resources Canada which provides AREVA an earn-in option to acquire up to a 70% working interest in a 49,635-hectare portion of the total 121,148 hectares Preston Uranium Project (see News Release dated March 9th, 2017). Under the agreement, AREVA can contribute cash and exploration program consideration totaling up to CAD $8,000,000 in exchange for up to 70% of the applicable project area over six years. Skyharbour holds an extensive portfolio of uranium and thorium exploration projects in Canada's Athabasca Basin and is well positioned to benefit from improving uranium market fundamentals with five drill-ready projects. In July 2016, Skyharbour acquired an option from Denison Mines to acquire 100% of the Moore Uranium Project which is located 20 kilometres east of Denison's Wheeler River project and 39 kilometres south of Cameco's McArthur River mine. Moore is an advanced stage uranium exploration property with a high grade uranium zone known as the Maverick Zone returning drill results of up to 6.0% U3O8 over 5.9 metres including 20.8% U3O8 over 1.5 metres at a vertical depth of 265 metres. Skyharbour and its partner Clean Commodities recently signed option agreements with AREVA Resources Canada and Azincourt Uranium whereby AREVA and Azincourt can earn in 70% on the Preston Project through a combined $9,800,000 in total exploration expenditures, as well as $1,700,000 in total cash payments and 4,500,000 Azincourt shares. Preston is a large, geologically prospective property proximal to Fission Uranium's Triple R deposit as well as NexGen Energy's Arrow deposit. The Company also owns a 100% interest in the Falcon Point Uranium Project on the eastern perimeter of the Basin which contains an NI 43-101 inferred resource totaling 7.0 million pounds of U3O8 at 0.03% and 5.3 million pounds of ThO2 at 0.023%. The project also hosts a high grade surface showing with up to 68% U3O8 in grab samples from a massive pitchblende vein, the source of which has yet to be discovered. The Company's 100% owned Mann Lake Uranium project on the east side of the Basin is strategically located adjacent to the Mann Lake Joint Venture operated by Cameco, where high-grade uranium mineralization was recently discovered. Skyharbour's goal is to maximize shareholder value through new mineral discoveries, committed long-term partnerships, and the advancement of exploration projects in geopolitically favourable jurisdictions. To find out more about Skyharbour Resources Ltd. (TSX VENTURE:SYH) visit the Company's website at www.skyharbourltd.com. NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE. This release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.


VANCOUVER, B.C., May 10, 2017 (GLOBE NEWSWIRE) -- Skyharbour Resources Ltd. (TSX-V:SYH) (OTCQB:SYHBF) (Frankfurt:SC1P) (the “Company”) is pleased to announce the Company’s option partner Azincourt Uranium (TSX-V: AAZ) (“Azincourt”) has announced details for an upcoming exploration program at the East Preston Uranium Project. Their exploration program is slated to commence this summer / early fall with the purpose of locating new drill targets that were previously untested and refining other additional targets within the Swoosh corridor. Skyharbour and Clean Commodities recently entered into Option Agreement (the “Agreement”) with Azincourt which provides Azincourt an earn-in option to acquire a 70% working interest in the East Preston Property (see news release dated March 28th, 2017). Under the Agreement, Azincourt has issued to Skyharbour and Clean Commodities each 2,250,000 common shares and will contribute cash and exploration expenditure consideration totaling up to CAD $3,500,000 in exchange for up to 70% of the applicable property area over three years. Of the $3,500,000 in project consideration, $1,000,000 will be in cash payments to Skyharbour and Clean Commodities. The Preston Uranium Project is a strategic, district-scale property with robust exploration upside potential throughout and is located near recent high-grade discoveries in the Patterson Lake area including NexGen Energy’s Arrow deposit, Fission Uranium’s Triple R deposit, and the Spitfire discovery. Skyharbour’s President and CEO, Jordan Trimble commented: “Skyharbour continues to execute on its business model by adding value to its project base in the Athabasca Basin through focused mineral exploration at its flagship Moore Uranium Project, with final winter drill results expected shortly, as well as utilizing the prospect generator model to advance its other projects with strategic partners. The option agreement with Azincourt complements the other recent option agreement we signed with industry-leader AREVA Resources Canada and together the two option agreements combine for $9,800,000 in total exploration expenditures over six years, as well as $1,700,000 in total cash payments and the issuance of 4,500,000 shares of Azincourt split between Skyharbour and Clean Commodities in return for 70% interests in the respective property areas. We are excited to have Azincourt commencing exploration programs at East Preston shortly which will contribute to ample news flow for Skyharbour over the next year including Azincourt and AREVA’s exploration programs at Preston as well as the Company’s upcoming summer drill program at the Moore Uranium Project.” The East Preston property had extensive regional exploration work completed in 2013 and 2014 including airborne electromagnetic (VTEM), magnetic and radiometric surveys. Three prospective conductive, low magnetic signature corridors have been discovered on the property area. The three distinct corridors have a total strike length of over 25 km, each with multiple EM conductor trends identified. Ground prospecting and sampling work completed to date has identified outcrop, soil, biogeochemical and radon anomalies, which are key pathfinder elements for potential uranium deposit discoveries. Only one of the corridors has been drill tested to date, intersecting structurally disrupted graphitic metasedimentary rocks at the Swoosh S6 target using a combination of Horizontal Loop EM (HLEM) and gravity as primary targeting tools. Following positive technical discussions between Azincourt and Skyharbour’s geological teams, Azincourt is planning to complete a summer / fall exploration program aimed at generating new drill targets within the previously untested corridors and refining additional targets along the Swoosh corridor. The proposed work to be completed will include re-logging and sampling of the seven diamond drill holes (1,571 m) drilled in 2014, with additional ground electromagnetic survey work (HLEM) and ground gravity planned along the airborne conductive trends. Additional ground geochemical sampling work is also being considered, but will be used to enhance any target areas identified from the geophysical surveys. The exploration work program planned is budgeted at $250,000 and is being planned for completion by the fall of 2017 to allow for future winter drill target testing. The significant potential of the Western Athabasca Basin has been highlighted by recent discoveries in the area by NexGen Energy Ltd. (Arrow), Fission Uranium Corp. (Triple R) and a joint-venture consisting of Cameco Corporation, AREVA Resources Canada Inc. and Purepoint Uranium Group Inc. (Spitfire). More than $4.7-million in expenditures on the entire Preston Uranium Project have been incurred to date, including over $2 million at East Preston. This exploration has consisted of ground gravity, airborne and ground electromagnetics, radon, soil, silt, biogeochem, lake sediment, and geological mapping surveys, as well as two exploratory drill programs. Several high-priority drill target areas associated with multiple prospective exploration corridors have been successfully delineated through this methodical, multiphased exploration initiative, which has culminated in an extensive, proprietary geological database for the project area. Furthermore, on March 9th, 2017, Skyharbour announced an option agreement with AREVA Resources Canada which provides AREVA an earn-in option to acquire up to a 70% working interest in a 49,635-hectare portion of the total 121,148 hectares Preston Uranium Project (see News Release dated March 9th, 2017). Under the agreement, AREVA can contribute cash and exploration program consideration totaling up to CAD $8,000,000 in exchange for up to 70% of the applicable project area over six years. Skyharbour holds an extensive portfolio of uranium and thorium exploration projects in Canada's Athabasca Basin and is well positioned to benefit from improving uranium market fundamentals with five drill-ready projects. In July 2016, Skyharbour acquired an option from Denison Mines to acquire 100% of the Moore Uranium Project which is located 20 kilometres east of Denison’s Wheeler River project and 39 kilometres south of Cameco’s McArthur River mine. Moore is an advanced stage uranium exploration property with a high grade uranium zone known as the Maverick Zone returning drill results of up to 6.0% U3O8 over 5.9 metres including 20.8% U3O8 over 1.5 metres at a vertical depth of 265 metres. Skyharbour and its partner Clean Commodities recently signed option agreements with AREVA Resources Canada and Azincourt Uranium whereby AREVA and Azincourt can earn in 70% on the Preston Project through a combined $9,800,000 in total exploration expenditures, as well as $1,700,000 in total cash payments and 4,500,000 Azincourt shares. Preston is a large, geologically prospective property proximal to Fission Uranium’s Triple R deposit as well as NexGen Energy’s Arrow deposit. The Company also owns a 100% interest in the Falcon Point Uranium Project on the eastern perimeter of the Basin which contains an NI 43-101 inferred resource totaling 7.0 million pounds of U3O8 at 0.03% and 5.3 million pounds of ThO2 at 0.023%. The project also hosts a high grade surface showing with up to 68% U3O8 in grab samples from a massive pitchblende vein, the source of which has yet to be discovered. The Company’s 100% owned Mann Lake Uranium project on the east side of the Basin is strategically located adjacent to the Mann Lake Joint Venture operated by Cameco, where high-grade uranium mineralization was recently discovered. Skyharbour’s goal is to maximize shareholder value through new mineral discoveries, committed long-term partnerships, and the advancement of exploration projects in geopolitically favourable jurisdictions. To find out more about Skyharbour Resources Ltd. (TSX-V:SYH) visit the Company’s website at www.skyharbourltd.com. For further information contact myself or: Nick Findler Corporate Communications Skyharbour Resources Ltd. Telephone: 604-687-3376 Toll Free: 800-567-8181 Facsimile: 604-687-3119 Email: info@skyharbourltd.com NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE. This release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.

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