Skyharbour Resources

What Skyharbour Resources does

Skyharbour Resources Ltd. (TSX-V: SYH, OTCQX: SYHBF, FRA: SC1P) is a Canadian uranium and thorium exploration company headquartered in Vancouver, BC, that holds interests in 43 exploration projects covering more than 662,887 hectares in Saskatchewan's Athabasca Basin. The company's two co-flagship assets are the advanced-stage Moore Lake Uranium Project (35,705 ha, 100% owned) and the Russell Lake Uranium Project (73,314 ha, 100% owned post-December 2025 acquisition of Rio Tinto's minority interest). Underlying exploration technology combines conventional geological surveying and diamond drilling with limited AI-assisted prospectivity modeling deployed through SMCG Services for drill targeting at Moore Lake. Historic drill intercepts include 6.0% U3O8 over 5.9 metres at Moore Lake's Maverick Zone and surface grab samples up to 68% U3O8 at the Hook Lake project.

Skyharbour operates a prospect generator business model that combines direct exploration on its flagship projects with a partnership-driven approach across the remainder of its portfolio. Revenue mechanics come from partner companies earning interests in projects by funding exploration expenditures and making cash and share payments to Skyharbour, with more than CAD $76 million in potential partner-funded exploration and CAD $42-45 million in potential cash and share payments across the deal pipeline. The company also funds its own drilling programs through equity raises (CAD $17.4M raised across three private placements between December 2024 and May 2026) using flow-through shares eligible for Canada's 30% Critical Mineral Exploration Tax Credit.

The company's primary customer segments are strategic mining partners operating under JV and earn-in option agreements (Denison Mines, Orano Canada, Nexus Uranium, North Shore Uranium, UraEx Resources, Terra Clean Energy, Mustang Energy, Future Fuels, Azincourt Energy, and Thunderbird Resources), and institutional investors providing capital through non-brokered private placements. Skyharbour is led by President and CEO Jordan Trimble, with Amanda Chow as CFO and Rob Chang as Independent Director, both appointed in March 2026.

Name

Skyharbour Resources

Legal name

Skyharbour Resources Ltd.

Website

https://skyharbourltd.com

Company type

Public

Founded year

1981

Operating status

Operating

Headcount range

11–50 employees

Short description

Skyharbour Resources is a Canadian uranium exploration company that holds interests in 43 projects covering over 662,000 hectares in Saskatchewan's Athabasca Basin, operating a prospect generator model that monetizes non-core projects through earn-in option agreements with strategic mining partners including Denison Mines and Orano Canada.

Ownership category

akta.pro rank

Product category

Uranium and Thorium Mineral Exploration

NAICS

Support Activities for Mining (2131), Geophysical Surveying and Mapping Services (54136)

SIC

Mineral Royalty Traders (6795)

akta.pro primary industry

Mineral Exploration & Geoscience Services (Geology, Geophysics, Geochemistry, Resource Modeling) (IMAKAKAA)

akta.pro secondary industry

Mineral Rights, Leasing & Land Management (EUALAAAB)

Keywords

• Uranium exploration
• Thorium exploration
• Mineral exploration
• Prospect generation
• Uranium project development

Headquarters

HQ city

Vancouver

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Marketing or Sales, Technology or R&D, Supply Chain

Revenue model

1. Uranium Exploration: Skyharbour generates revenue through a prospect generator model where partner companies earn interests in exploration projects by funding exploration expenditures and making cash and share payments to Skyharbour. The company also conducts its own exploration on core projects.
2. Partner-Funded Exploration: Earn-in option agreements where partner companies fund exploration and make payments: over $76 million in partner-funded exploration expenditures and over $42-45 million in cash and share payments assuming partners complete earn-ins.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

Skyharbour Resources is a uranium and thorium exploration company that holds interests in 43 mineral exploration projects spanning over 662,887 hectares in Canada's Athabasca Basin. The company advances its two co-flagship projects, Moore Lake (35,705 hectares, 100% owned) and Russell Lake (73,314 hectares, 80% via JV with Denison Mines), through direct drilling and exploration. For non-core projects, Skyharbour uses a Prospect Generator Model, optioning out exploration rights to partner companies (including Orano Canada, North Shore Uranium, Nexus Uranium, UraEx Resources, and Terra Clean Energy) that fund exploration and make cash/share payments to earn ownership interests.

Product overview

Skyharbour Resources is a uranium exploration company operating primarily in Canada's Athabasca Basin with a portfolio of 43 projects spanning over 662,000 hectares. The company's core products are its two co-flagship uranium projects: the Russell Lake Uranium Project (73,314 hectares, 80% owned via JV with Denison Mines) and the Moore Lake Uranium Project (35,705 hectares, 100% owned). The company employs a Prospect Generator Model, where it maintains majority ownership of its portfolio while optioning out secondary projects to partner companies (including Orano Canada, Denison Mines, North Shore Uranium, Nexus Uranium, Terra Clean Energy, UraEx Resources, Mustang Energy, and others) who earn interests by funding exploration and making cash/share payments. Key partner-operated projects include Preston Lake (49,635 ha with Orano as operator), South Falcon East (12,234 ha with Terra Clean Energy), Mann Lake (3,473 ha with Nexus Uranium), Falcon (42,908 ha with North Shore Uranium), and various other uranium and base metals projects. The company also holds a 100% interest in the South Bay copper-zinc-silver project in Ontario.

Differentiator

Problem solved

Functional benefit

Products and services

• Moore Lake Uranium Project A 35,705 hectare advanced-stage uranium exploration property located 42 kilometres northeast of the Key Lake mill, approximately 15 kilometres east of Denison's Wheeler River project, and 39 kilometres south of Cameco's McArthur River mine. Skyharbour owns 100% interest with high-grade uranium mineralization at the Maverick Zone, including drill intercepts of 6.0% U3O8 over 5.9 metres. Up to 10,000 metres of diamond drilling planned for 2026.
• Russell Lake Uranium Project A 73,314 hectare advanced-stage uranium exploration property strategically located between Cameco's Key Lake and McArthur River Projects and adjoining Denison's Wheeler River Project. Skyharbour holds 80% interest and operates the RL claims portion through a joint venture with Denison Mines. Combined consideration from Denison partnership valued at up to CAD $61.5 million.
• Falcon Uranium Project A 42,908 hectare uranium project covering 11 claims approximately 50 km east of the Key Lake mine. Currently optioned to North Shore Uranium Ltd. for up to 100% earn-in through CAD $5.3 million in combined cash, shares, and exploration expenditures over three years, with option to purchase remaining 20% for additional CAD $10 million. Shallow uranium mineralization hosted in classic Athabasca-style basement mineralization.
• Preston Lake Uranium Project A 49,635 hectare project strategically located proximal to NexGen Energy's high-grade Arrow deposit and Fission Uranium's Triple R deposit. Orano Canada holds 79.2% majority interest and operates the project, with Skyharbour retaining 20.8% interest. 2026 exploration includes Airborne Gravity Gradiometry survey and 3,500 metres of drilling.
• South Falcon East Project A uranium project covering approximately 12,234 hectares located 18 kilometers outside the Athabasca Basin, approximately 55 kilometers east of the Key Lake Mill. Hosts the Fraser Lakes B Uranium-Thorium Deposit with historical inferred resource of 6.9 million pounds U3O8 at 0.03%. Currently optioned to Terra Clean Energy Corp. for up to 75% earn-in with planned 2,500m summer 2026 drill program at $1.75M budget.
• Mann Lake Uranium Project A 3,473 hectare uranium project strategically located 25 km southwest of the McArthur River Mine and adjacent to the Mann Lake Joint Venture operated by Cameco. Currently optioned to Nexus Uranium Corp. for up to 75% earn-in, with partner contributing CAD $4,850,000 over three years plus CAD $1,750,000 in shares.
• East Preston Uranium Project A large land position totalling 20,674 hectares representing the eastern region of the larger Preston Project, strategically located near NexGen Energy's Arrow deposit and Fission Uranium's Triple R deposit. Optioned to Azincourt Energy Corp. with Skyharbour retaining 9.5% interest in the 85.8% JV.
• Hook Lake Project A 25,847 hectare project located 60 km east of the Key Lake Uranium Mine. Host to several prospective areas including Hook Lake/Zone S high-grade surface outcrop with reported grades up to 68% U3O8. Currently optioned to Thunderbird Resources Limited with Skyharbour retaining 20% interest in the 80% JV.
• 914W Uranium Project A 1,260 hectare project approximately 48 km southwest of Cameco's Key Lake Operation. Currently optioned to Mustang Energy Corp. for up to 75% earn-in, with partner issuing shares valued at $480,000, paying $275,000 cash, and completing $800,000 in exploration expenditures over three years.
• Highway Project A 9,339 hectare project approximately 41 km south of the Rabbit Lake Mine. Currently optioned to Future Fuels Inc. for 80% earn-in, with partner committing $1,050,000 in shares, $245,000 cash, and $2,050,000 in exploration expenditures over three years.
• South Dufferin Project A 13,205 hectare project located immediately south of the Athabasca Basin covering the southern extension of the Virgin River Shear Zone. Currently optioned to UraEx Resources Inc. for up to 100% earn-in through CAD $4,600,000 to CAD $9,800,000 in combined consideration over five years.
• Bolt Project A 4,726 hectare project approximately 32 km southwest of Cameco's Key Lake Operation. Currently optioned to UraEx Resources Inc. for up to 100% earn-in.
• South Bay Copper-Zinc-Silver Project An 84 hectare project consisting of six claims around the past-producing Selco South Bay copper-zinc-silver mine in northwestern Ontario. Skyharbour holds 100% interest with potential for VMS-style base metal discoveries.
• Prospect Generator Model Skyharbour's structured business model for partnering with mining companies to explore non-core uranium properties. The company options out projects to partners who can earn interests by funding exploration and making cash and share payments to Skyharbour. This model has generated over $76 million in potential partner-funded exploration expenditures and over $42-45 million in cash and share payments across multiple projects.

Quantifiable outcome

• 6.0% U3O8 over 5.9 metres including 20.8% U3O8 over 1.5 metres at Moore Lake
• +3 more outcomes

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Eleven partnerships are on record, tiered active, minor and core.

• Future Fuels Inc.activeStrategic or Co-development Partner · 1 February 2026Earn-in option partner up to 80% at Highway Project (acquired Hatchet Uranium Corp. in February 2026). Committing $1,050,000 in shares, $245,000 cash, and $2,050,000 in exploration expenditures over three years.
• Mustang Energy Corp.activeStrategic or Co-development Partner · 27 November 2025Earn-in option partner up to 75% at 914W Project. Issuing shares valued at $480,000, paying $275,000 cash, and completing $800,000 in exploration expenditures over three years.
• Azincourt Energy Corp.activeStrategic or Co-development Partner · 26 November 202585.8% JV partner at East Preston Project with Skyharbour retaining 9.5% interest.
• Thunderbird Resources LimitedactiveStrategic or Co-development Partner · 26 November 202580% JV partner at Hook Lake Project (formerly North Falcon Point) with Skyharbour retaining 20% interest. Hook Lake hosts high-grade surface outcrop with grab samples up to 68% U3O8.
• Hatchet Uranium Corp.minorStrategic or Co-development Partner · 26 November 2025Purchase agreement for Genie, Usam, and CBX/Shoe projects. Hatchet paying $25,000 and issuing units equal to 9.9% of shares post-issuance. Skyharbour retains 2% NSR royalty.
• Denison Mines Corp.coreStrategic or Co-development Partner · 17 November 2025Major strategic partnership forming four joint ventures at Russell Lake Uranium Project with combined consideration of up to CAD $61.5 million. Denison investing up to CAD $40 million in exploration expenditures over seven years for ownership stakes ranging from 20% to 70%. Skyharbour retains 80% at RL while Denison can earn up to 70% at Wheeler North and Getty East.
• UraEx Resources Inc.activeStrategic or Co-development Partner · 1 October 2024Earn-in option partner up to 100% at South Dufferin and Bolt Projects. Can earn initial 51% through CAD $4,600,000 and up to 100% through CAD $9,800,000 in combined consideration over five years.
• North Shore Uranium Ltd.activeStrategic or Co-development Partner · 31 December 2023Earn-in option partner up to 100% at Falcon Project. Can earn initial 80% interest by fulfilling CAD $5.3 million in combined cash, shares, and exploration expenditures over three years, with option to purchase remaining 20% for additional CAD $10 million.
• Terra Clean Energy Corp.activeStrategic or Co-development Partner · 19 October 2022Earn-in option partner up to 75% at South Falcon East Project. Under revised agreement, Terra will issue 2,650,000 shares, make $100,000 cash payment, and fund exploration through earn-in milestones to 2030. Planning 2,500m summer 2026 drill program at Fraser Lakes B Deposit with $1.75M budget.
• Nexus Uranium Corp.activeStrategic or Co-development Partner · 1 October 2021Earn-in option partner up to 75% at Mann Lake Uranium Project. Nexus contributing CAD $4,850,000 over three years ($850,000 cash payments and $4,000,000 exploration expenditures) plus CAD $1,750,000 in shares.
• Orano Canada Inc.coreStrategic or Co-development Partner · 1 March 2017JV partner at Preston Project with Orano holding 74.7-79.2% as operator. Orano Canada is a leading uranium producer with 60+ years of experience in Saskatchewan. The 49,635-hectare project includes 2026 exploration with Airborne Gravity Gradiometry survey and 3,500 metres of drilling.

Scale indicators8 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Paladin Energy Ltd. Paladin acquired Fission Uranium in 2024 and now owns the Langer Heinrich mine (Namibia) plus the Triple R development project. As a mid-tier uranium producer-developer with Athabasca exposure, it represents a broader incumbent peer in the uranium space.
• Cameco Corporation: Cameco is the world's largest pure-play uranium producer and operates Key Lake and McArthur River — both adjacent to Skyharbour's flagship properties. While Cameco is a producer (not an explorer), it is the dominant Athabasca incumbent against which all junior peers are benchmarked for land position, grade, and infrastructure access.

Direct peers

• Denison Mines Corp. Denison is Skyharbour's largest strategic partner and JV counterparty at Russell Lake (up to CAD $61.5M partnership) and an equity holder. Denison operates Wheeler River, one of the Athabasca's largest development-stage uranium projects, and is a directly comparable Athabasca-focused uranium developer/explorer.
• UEX Corporation: UEX is an Athabasca Basin-focused uranium explorer with a portfolio of advanced and early-stage projects (including West Bear, Christie Lake). Same jurisdiction, same commodity, similar prospect generator approach — a directly comparable junior uranium peer.
• Purepoint Uranium Group Inc. Purepoint is an Athabasca-focused uranium explorer with JV partnerships with Cameco and Orano on multiple projects. Closely comparable to Skyharbour in size, business model (JV-driven), and jurisdictional focus.
• Azincourt Energy Corp. Azincourt holds 85.8% of the East Preston JV with Skyharbour. Both companies operate Athabasca Basin uranium projects and Azincourt is a directly comparable peer in size, stage, and exploration focus.
• Fission 3.0 Corp. Fission 3.0 is a uranium exploration company with a portfolio of Athabasca Basin projects, founded by the Fission Uranium management team. Comparable in size, model, and jurisdictional focus to Skyharbour.
• NexGen Energy Corp. NexGen's Arrow deposit is the highest-grade undeveloped uranium deposit in the Athabasca Basin and sits adjacent to Skyharbour's Preston Lake project. Same jurisdiction, same commodity, similar exploration-stage development path — a direct peer for Athabasca uranium investors.
• Nexus Uranium Corp. Nexus is an earn-in partner at Skyharbour's Mann Lake project and is itself a small Athabasca-focused uranium explorer. Similar size and business model — useful as a small-cap comp for Skyharbour.
• Fission Uranium Corp. (now part of Paladin Energy): Fission's Triple R deposit at Patterson Lake South (now owned by Paladin Energy after 2024 acquisition) is adjacent to Skyharbour's Preston/East Preston claims. Fission/Paladin represents a directly comparable Athabasca Basin uranium developer targeting similar high-grade basement-hosted deposits.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/Skyharbour_SYH
• Facebookfacebook.com/SkyharbourResourcesLtd
• LinkedInlinkedin.com/company/3166217

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Funding overview

Funding rounds5 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Skyharbour Resources