Skyharbour Resources (TSXV: SYH) announced yesterday that it has closed the option agreement to acquire the Russell Lake Uranium Project from Rio Tinto!
SYH will acquire an initial 51% interest in the project, with the option to acquire up to 100%.
The Russell Lake project is an advanced-stage exploration property given its large size, proximity to critical regional infrastructure, and the significant amount of historical exploration carried out on the property. Exploration has identified numerous prospective target areas and several high-grade uranium showings, as well as drill hole intercepts.
SYH shares have seen a big jump since last week, currently up nearly 30% after bouncing off support at bi-yearly lows since mid-June. SYH.v is currently trading at $.395, valued at $52.26 million.
https://ceo.ca/@globenewswire/skyharbour-closes-option-to-acquire-an-initial-51