Skyharbour Resources (TSXV: SYH) has announced it has secured an exciting option to acquire an initial 51% and up to 100% of the Russel Lake Uranium Project in the Athabasca Basin.
Skyharbour, as operator, can earn an initial 51% interest in the Property by paying CAD $508,200 in cash, issuing 3,584,014 common shares to Rio Tinto Exploration Canada, and funding CAD $5,717,250 in exploration on the Project, inclusive of a 10% management fee to Skyharbour, over a period of 3 years.
The property has a permitted and functional exploration camp suitable for over forty people and is conveniently located near Highway 914, and within 5 km kilometers of Denison’s Phoenix deposit. The claims are in good standing for 2-22 years from banked assessment credits.
$SYH.v is currently trading at $.46 and valued at CAD $16.86 million.
https://ceo.ca/@nasdaq/skyharbour-secures-option-to-acquire-an-initial-51