Skyharbour's Earn-In Option Partner Secures Key Permits for Uranium Exploration Project

Source: Streetwise Reports 07/07/2025

Skyharbour Resources Ltd. (SYH:TSX.V; SYHBF:OTCQX; SC1P:FSE) announced that partner company Mustang Energy Corp. (MEC:CSE; MECPF:OTC; 92T:FRA) has been granted exploration permits by the Saskatchewan Government. Read more to find out why the uranium they are seeking will help power the energy transition.

Skyharbour Resources Ltd. (SYH:TSX.V; SYHBF:OTCQX; SC1P:FSE) announced that partner company Mustang Energy Corp. (MEC:CSE; MECPF:OTC; 92T:FRA) has been granted exploration permits by the Saskatchewan Government.

The permits authorize ground-based exploration activities at the 914W Uranium Project located south of the Athabasca Basin in Saskatchewan. Mustang Energy can secure a 75% interest in the project by issuing common shares valued at CA$480,000, making total cash payments of CA$275,000 to Skyharbour, and committing to CA$800,000 in exploration expenditures on the property over the next three years.

Skyharbour is progressing with its co-flagship Russell Lake and Moore Lake uranium projects, planning approximately 16,000 to 18,000 meters of combined drilling at those projects for 2025. Beyond its primary exploration endeavors, the company utilizes a prospect generator model, bringing in partner companies to fund and explore secondary assets throughout the Athabasca Basin. Skyharbour holds more than 614,000 hectares across 36 projects. It currently has nine partner companies advancing 13 projects, with potential project considerations totaling CA$70 million, provided these partners fulfill their full earn-in commitments at their respective projects.

Analyst Sid Rajeev of Fundamental Research Corp. recently stated that Skyharbour possesses “one of the largest portfolios among uranium juniors in the Athabasca Basin.”

“Given the highly vulnerable uranium supply chain, we anticipate continued consolidation within the sector,” Rajeev wrote. “The rapidly growing demand for energy from the AI (artificial intelligence) industry is likely to accelerate the adoption of nuclear power, which should, in turn, spotlight uranium juniors in the coming months.”

The 914W Project

The 914W Project encompasses a single claim spanning 1,260 hectares, located approximately 48 kilometers southwest of Cameco Corp.’s (CCO:TSX; CCJ:NYSE) Key Lake Operation. Highway 914 traverses the western boundary of the project, ensuring excellent accessibility for exploration activities.

Historical geological assessments of the property and its vicinity indicate that the terrain primarily consists of Wollaston Supergroup pelitic and psammitic to arkosic gneisses of the Western Wollaston Domain, Skyharbour noted. This domain is known for hosting significant unconformity-related uranium deposits in the Athabasca Basin and pegmatite-hosted uranium mineralization in other parts of the Wollaston Domain.

Despite its accessible location adjacent to Highway 914 and its geologically promising setting, Skyharbour said the 914W Project has undergone limited contemporary exploration. Initial exploratory activities on the 914W property included airborne electromagnetic (EM) and magnetic surveys, along with ground geological reconnaissance conducted between 1968 and 1970. Additional studies, such as lake water and sediment sampling, were carried out in 1976, followed by ground VLF-EM, magnetic, and radiometric surveys, geological mapping, trenching, and sampling in the project area and nearby regions.

To the north of the 914W property, exploration efforts led to the discovery of the Scurry Rainbow Zone E (SMDI1961) and the Don Lake Trenches (SMDI 1983). Notably, drill hole ML-1 (SMDI1961) in a pyroxene-rich unit revealed up to 1,288 ppm U, and surface prospecting at Don Lake Zone E (SMDI 1983) uncovered up to 0.64% U3O8 in a trench, the company said.

More recent exploration includes helicopter-borne VTEM geophysical surveys over the southern half of the project in 2005 and Tempest TDEM surveys over the northern half in 2007. These were complemented by prospecting, geological mapping, rock/sediment sampling, and lake sediment sampling conducted in the area from 2005 to 2007.

Despite these efforts, Skyharbour said the 914W Project remains relatively underexplored, yet it continues to show promise for both unconformity-related and pegmatite-hosted uranium and rare earth elements (REEs).

Mustang is actively exploring properties in the Athabasca Basin, including its flagship property, Ford Lake, which covers 7,743 hectares in the prolific eastern basin. Its Cigar Lake East and Roughrider South projects span 2,901 hectares in the Wollaston Domain, which also contains the 914W project.

Mustang has also established its footprint in the Cluff Lake region of the Athabasca Basin with the acquisition of the Yellowstone Project and further expanded its presence in the south-central region of the Athabasca Basin with Dutton.[OWNERSHIP_CHART-6026]

The Catalyst: Uranium Critical for Coming Power Crunch

Uranium, the critical element behind nuclear energy, plays a vital role in the global energy transition. As demand surges from power-intensive technologies like artificial intelligence and data centers, our electricity grids are facing unprecedented strain, highlighting the need for reliable, scalable, and clean energy sources like nuclear. [OWNERSHIP_CHART-11203]

In response to these challenges, U.S. President Donald Trump has activated the Defense Production Act to bolster nuclear fuel resources by promoting domestic uranium mining and enrichment. This move aims to lessen the U.S.’s reliance on uranium imports from countries such as Russia, as reported by Stockhead in May.

“American domestic uranium production currently meets only 2% of U.S. reactor demand, and a U.S. ban on Russian uranium imports places a premium on domestic uranium supplies,” the publication noted.

According to a recent article by Mrinalika Roy for Reuters, industry insiders believe that Trump’s recent directives intended to rejuvenate the U.S. nuclear energy sector could invigorate the uranium market, which has been in a slump, and heighten investor interest. “Spot uranium prices have dropped approximately 30% from their 2023 highs as institutional investors withdrew, deterred by fears of a recession and geopolitical instability,” Roy reported.

Ownership and Share Structure

Management, insiders, and close business associates own approximately 5% of Skyharbour.

According to Refinitiv, President and CEO Jordan Trimble owns 1.5%, and Director David Cates owns 0.65%. Institutional, corporate, and strategic investors own approximately 55% of the company.

Denison Mines owns 6.3%, Rio Tinto owns 2%, Extract Advisors LLC owns 9.6%, Alps Advisors Inc. owns 9.1%, Mirae Asset Global Investments (U.S.A) L.L.C. owns 5.68%, and Incrementum AG owns 1.05%, Refinitiv reported.

Skyharbour has 204.46M outstanding shares and 199.65M free float traded shares. Its market cap is CA$67.5M. Its 52-week range is CA$0.28–0.51 per share.

According to Refinitiv, about 0.13% of Mustang is owned by Insiders and Management, and the rest is retail. Top shareholders include Toby Lim with 0.13%.

It has 79.52 million shares outstanding, 79.42 free floating shares, and has a market cap of CA$14.65 million. It trades in a 52-week range of CA$0.15 and CA$0.46.

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1. Skyharbour Resources Ltd. is a billboard sponsor of Streetwise Reports and pays SWR a monthly sponsorship fee between US$4,000 and US$5,000.
2. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Cameco Corp.
3. Steve Sobek wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
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( Companies Mentioned: MEC:CSE; MECPF:OTC; 92T:FRA, SYH:TSX.V; SYHBF:OTCQX; SC1P:FSE, )

Source: https://www.streetwisereports.com/article/2025/07/07/skyharbours-earn-in-option-partner-secures-key-permits-for-uranium-exploration-project.html