VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 04/11/13 -- Skyharbour Resources Ltd. (TSX VENTURE: SYH) (OTC PINK: SYHBF) (the "Company") is pleased to announce that further to its news released dated March 27, 2013, the Company has completed its acquisition of a 100% interest in 285,000 acres located in the Patterson Lake Region, Athabasca Basin, Saskatchewan.
The prospective uranium properties acquired by Skyharbour are strategically located near the Alpha Minerals ("Alpha") and Fission Energy ("Fission") Patterson Lake South (PLS) uranium discovery. The Company has now acquired six properties in the Patterson Lake region totaling 388,000 acres making it one of the largest land positions in the area.
Map of Skyharbour's Patterson Lake Area Properties:
Pursuant to the terms of the two acquisition agreements with arm's length parties for a 100% interest in the 285,000 acre land package, the Company paid the sum of $50,000 to cover acquisition costs and issued a total of 1,000,000 common shares at a deemed issuance price of $0.06 per share. The Vendor has been granted a 2% net smelter return royalty on non-uranium minerals and a 2% gross revenue royalty on uranium minerals. The shares issued in connection with this transaction are subject to a hold period and will not trade before August 6, 2013.
Skyharbour Resources Ltd. is a uranium, gold and base metal exploration company with projects in the Athabasca Basin of northern Saskatchewan and in Red Lake, north-western Ontario, Canada. The Company has approx. 36 million shares outstanding.
Neither the TSX Venture Exchange nor its regulation services provider accepts responsibility for the adequacy or accuracy of the content of this news release.
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