Vancouver, BC, Sept. 12, 2024 (GLOBE NEWSWIRE) -- Skyharbour Resources Ltd.’s (TSX-V: SYH) (OTCQX: SYHBF) (Frankfurt: SC1P) (the “Company”) is pleased to announce the appointment of Serdar Donmez, a recognized geoscientist with decades of experience in uranium exploration and development, as Vice President of Exploration. Mr. Donmez will be working with the rest of Skyharbour’s geological team based in Saskatoon.
As a highly experienced geoscientist with nearly two decades of expertise in uranium exploration and development, Mr. Donmez has played an active role in numerous grassroots and advanced uranium exploration projects in northern Saskatchewan and Zambia. Mr. Donmez has an Engineering Degree in Geology and is a registered Professional Geoscientist with the Association of Professional Engineers and Geoscientists of Saskatchewan.
During his 17-year tenure at Denison Mines Corp., Mr. Donmez was pivotal in advancing numerous uranium exploration and development projects. He was involved in various capacities with the Phoenix and Gryphon uranium deposits on Denison’s Wheeler River project, from initial discovery to the completion of the Feasibility Study in 2023. As Resource Geology Manager, he was integral to the development of mineral resource estimates and NI 43-101 technical reports for several advanced exploration projects in the Athabasca Basin. Additionally, he was part of a team exploring the application of in-situ recovery mining techniques for high-grade uranium deposits in the Athabasca Basin.
Mr. Donmez’s extensive experience in advancing Athabasca Basin uranium projects, particularly his work at the Phoenix and Gryphon deposits at Wheeler River, aligns very well with Skyharbour's exploration and drilling initiatives at its co-flagship adjacent Russell and Moore Lake projects. Recent drilling this year at both projects has identified high-grade, multi-percent sandstone-hosted uranium mineralization. With a fully-funded, 2,500m drill program already underway at Moore and an additional 4,000-5,000m drilling program scheduled for Russell this fall, Mr. Donmez's expertise will be invaluable in advancing these projects and unlocking further value going forward.
Mr. Donmez’s deep understanding of the discovery process in the Athabasca Basin along with his experience in implementing innovative exploration and development techniques positions him to play a critical role in advancing both projects as the Company continues to make new discoveries and expand its resource base.
Jordan Trimble, President and CEO of Skyharbour stated: “Serdar brings an incredible wealth of experience to the Skyharbour technical team and has specific exploration and development expertise in the southeastern portion of the Athabasca Basin where our core projects are located. His many years of work at Wheeler River will prove to be invaluable at our Russell and Moore projects as we look to generate and expand on new discoveries as well as delineate high grade uranium resources in similar geological settings. The ability to attract such a talented and seasoned individual to the team is a testament to our portfolio of projects and multi-faceted strategy in the Athabasca Basin where Serdar will also be working to help manage and expand our prospect generator business.”
Furthermore, in his most recent role, Mr. Donmez served as Vice President of Exploration at 92 Energy Ltd. until its acquisition by Atha Energy Corp. in April 2024. Following the acquisition, he transitioned to the role of Director of Exploration, where he helped in target generation for drilling programs at Atha’s Angilak and Gemini projects in Nunavut and northern Saskatchewan.
Serdar Donmez, Vice President of Exploration of Skyharbour, stated: “I am thrilled to join the Skyharbour team, which has a proven track record in developing and advancing high-profile uranium exploration projects in the Athabasca Basin. Skyharbour’s impressive portfolio includes flagship projects like Moore Lake and Russell Lake, where notable high-grade uranium mineralization has been discovered in multiple zones. I look forward to leading the technical team in advancing our exploration initiatives and demonstrating the substantial growth potential that exists within our projects.”
About Skyharbour Resources Ltd.:
Skyharbour 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 twenty-nine projects, ten of which are drill-ready, covering over 580,000 hectares (over 1.4 million acres) of land. Skyharbour has acquired from Denison Mines, a large strategic shareholder of the Company, a 100% interest in the Moore Uranium Project which is located 15 kilometres east of Denison's Wheeler River project and 39 kilometres south of Cameco's McArthur River uranium mine. Moore is an advanced-stage uranium exploration property with high-grade uranium mineralization at the Maverick Zone that returned 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. Adjacent to the Moore Uranium Project is Skyharbour’s recently optioned Russell Lake Uranium Project from Rio Tinto, which hosts several high-grade uranium drill intercepts over a large property area with robust exploration upside potential. The Company is actively advancing these projects through exploration and drill programs.
Skyharbour has joint-ventures with industry-leader Orano Canada Inc., Azincourt Energy and Thunderbird Resources (previously Valor) at the Preston, East Preston and Hook Lake Projects, respectively. The Company also has several active earn-in option partners including: CSE-listed Basin Uranium Corp. at the Mann Lake Uranium Project; CSE-listed Medaro Mining Corp. at the Yurchison Project; North Shore Uranium at the Falcon Project; and TSX-V listed Tisdale Clean Energy at the South Falcon East Project which is host to the Fraser Lakes Zone B Uranium and Thorium Deposit. In aggregate, Skyharbour has now signed earn-in option agreements with partners that total to over $33 million in partner-funded exploration expenditures, over $27 million worth of shares being issued and over $20 million in cash payments coming into Skyharbour, assuming that these partner companies complete their entire earn-ins at the respective projects.
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.
Skyharbour’s Uranium Project Map in the Athabasca Basin:
https://www.skyharbourltd.com/_resources/images/SKY_SaskProject_Locator_2024-02-14_V2.jpg
To find out more about Skyharbour Resources Ltd. (TSX-V: SYH) visit the Company’s website at www.skyharbourltd.com.
SKYHARBOUR RESOURCES LTD.
“Jordan Trimble”
_________________________________
Jordan Trimble
President and CEO
For further information contact myself or:
Nicholas Coltura
Investor Relations Manager
Skyharbour Resources Ltd.
Telephone: 604-558-5847
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: info@skyharbourltd.com
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The securities offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor in any other jurisdiction.
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, including the Private Placement. 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, regulatory approvals, 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.
