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Skyharbour Closes Acquisition to Consolidate 100% Interest in the Russell Lake Uranium Project
Vancouver, BC, Dec. 16, 2025 (GLOBE NEWSWIRE) -- Skyharbour Resources Ltd. (TSX-V: ...
About this update from Skyharbour Resources Ltd.
[{"type":"text","content":"Skyharbour Closes Acquisition to Consolidate 100% Interest in the Russell Lake Uranium Project\n\n\n\n Vancouver, BC, Dec. 16, 2025 (GLOBE NEWSWIRE) --\n \n Skyharbour Resources Ltd.\n \n\n\n\n (TSX-V:\n \n\n\n\n\n\n SYH\n \n\n\n\n ) (OTCQX:\n \n\n\n\n SYHBF\n \n\n\n\n )\n \n\n (Frankfurt:\n \n\n\n\n SC1P\n \n\n\n\n )\n \n (“Skyharbour” or the “Company”) is pleased to announce that it has completed the acquisition of Rio Tinto Exploration Canada Inc.’s (“RTEC”) minority interest in the Russell Lake Uranium Project (“Russell Lake” or the “Project”) pursuant to the previously announced definitive and binding purchase agreement (the “Purchase Agreement”). The Project is strategically located in the central core of the Eastern Athabasca Basin of northern Saskatchewan, with access to regional infrastructure, including an all-weather road and powerline.\n \n\n\n Russell Lake Project Location Map:\n \n\n\n\n http://www.skyharbourltd.com/_resources/images/2025-11-14%20SKY-RussellLake-Updated.jpg\n \n\n\n\n\n Transaction Details:\n \n\n\n Immediately prior to closing, RTEC’s interest in the Project was approximately 42.3%. Pursuant to the terms of the Purchase Agreement, Skyharbour has acquired 100% of RTEC’s minority interest in the Project in exchange for cash consideration of C$10 million (the “Purchase Price”). The Purchase Price consisted of a C$2 million deposit, paid on signing the Purchase Agreement, and a C$8 million cash payment paid at closing.\n \n\n Skyharbour has granted to RTEC a 0.25% net smelter returns royalty over Russell Lake. The acquisition of RTEC’s interest in Russell Lake has increased Skyharbour’s interest in the Project to 100%, subject to several other net smelter return royalties held by third parties.\n \n\n\n Russell Lake Uranium Project Overview:\n \n\n\n The Russell Lake Project is a large, advanced-stage uranium exploration property totalling 73,314 hectares strategically located between Cameco’s Key Lake and McArthur River Projects, and adjoining Denison’s Wheeler River Project to the west and Skyharbour’s Moore Uranium Project to the east. The northern extension of Highway 914 between Key Lake and McArthur River runs through the western extent of the ...