High Grade Maverick East Zone Expanded

VANCOUVER - Skyharbour Resources Ltd. reported initial results from its recent 2020 fall diamond drilling program at its 100% owned, 35,705 hectare Moore Uranium Project. Drill hole ML20-09 confirmed the continuity of the Maverick East Zone by intersecting a discrete zone of predominantly basement-hosted uranium mineralization at 271.5 meters to 289.0 meters downhole, the longest continuous drill intersection of uranium mineralization discovered to date at the project. This interval returned 0.72% U3O8 over 17.5 meters and contained a basal high grade basement interval of 1.00% U3O8 over 10.0 meters.

Highlights: Hole ML20-09, which was drilled as a follow up to hole ML20-06 in the eastern half of the Maverick East Zone, intersected predominantly basement-hosted mineralization and returned 0.72% U3O8 over 17.5 meters from 271.5 meters to 289.0 meters including 1.00% U3O8 over 10.0 meters from 279.0 meters to 289.0 meters; The mineralized intercept in hole ML20-09 is a discrete zone of mineralization primarily hosted in sheared, clay-altered to -replaced graphitic pelitic assemblages within the basement rocks. The intercept confirms the potential of the central portion of the eastern extension of the Maverick East Zone. The eastern 50 meters of the Maverick East Zone has only marginally been drill tested to date and is open along strike and at depth in the basement rocks; A greater understanding of the Maverick Structural Corridor was also obtained by the drilling of two broadly spaced exploratory drill holes in the Maverick West target area. The drilling identified continuity of the geological model in the area with locally anomalous geochemistry in the basement rocks; and Substantial portions of the 4.5 kilometer long Maverick corridor remain to be systematically drill tested leaving robust discovery potential along strike as well as at depth in the basement rocks. Final assay results are pending for four more drill holes.

Jordan Trimble, President and CEO, said, “Drill hole ML20-09 is a breakthrough hole for us at the Maverick East Zone as it is the longest continuously mineralized drill intercept the Company has reported and it is one of the best basement-hosted zones of mineralization discovered at the project. We are successfully increasing the size of the high grade uranium zones at the Maverick corridor and these results illustrate the notable discovery upside potential at the project especially in the basement rock feeder-zones which have had limited drill-testing historically. The remaining assay results from the program are pending with planning for additional drilling at Moore Lake currently underway.”