Source: Skyharbour Resources Ltd.
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  • Skyharbour Resources (SYH) has closed its previously announced option agreement with Rio Tinto Exploration Canada to acquire up to 100 per cent of the Russell Lake Uranium Project
  • The Russell Lake Uranium Project is a premier, advanced-stage exploration property made up of 26 claims covering 73,294 hectares of prospective exploration ground
  • The agreement empowers Skyharbour to acquire up to 100 per cent interest in the project and become its operator at the earn-in period and afterwards, if a joint venture is formed
  • Rio Tinto is one of the largest mining and metals companies globally, operating in 35 countries with over 49,000 employees
  • Skyharbour Resources Ltd is an exploration company which holds an extensive portfolio of uranium exploration projects in Canada’s Athabasca Basin
  • Skyharbour Resources Ltd. was up 4.00 per cent, trading at $0.39 at 1:27 PM ET

Skyharbour Resources (SYH) has closed its option agreement with Rio Tinto (RTEC).

Under the terms of the agreement, Skyharbour had the option to acquire up to 100 per cent of the Russell Lake Uranium Project in the Athabasca Basin of Saskatchewan.

The Russell Lake Uranium Project is a premier, advanced-stage exploration property, made up of 26 claims covering 73,294 hectares of prospective exploration ground strategically situated between the company’s Moore Uranium Project (to the east) and Denison Mines’ Wheeler River Project (to the west) in the eastern portion of the Athabasca Basin.

The terms of the option agreement stipulate that Skyharbour may acquire up to a 100-per-cent interest in the Russell Lake Uranium Project and will become operator of the project during the earn-in period and afterwards, if a joint venture is formed.

Rio Tinto is one of the largest mining and metals companies globally, operating in 35 countries with over 49,000 employees.

Skyharbour Resources Ltd. is an exploration company which holds an extensive portfolio of uranium exploration projects in Canada’s Athabasca Basin and is well positioned to benefit from improving uranium market fundamentals with fifteen projects, ten of which are drill-ready, covering over 450,000 hectares of land.

Skyharbour Resources Ltd. was up 4.00 per cent, trading at $0.39 at 1:27 PM ET.

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