VANCOUVER, British Columbia, March 02, 2020 (GLOBE NEWSWIRE) -- Skyharbour Resources Ltd. (SYH.V) (SYHBF) (Frankfurt:SC1P) (the “Company”) is pleased to announce it has appointed Joseph Gallucci to the Company’s Board of Directors. Mr. Gallucci is a capital markets executive with over 15 years of experience in investment banking and equity research focused on mining, base metals, precious metals and bulk commodities on a global scale. Joseph is currently the Managing Director and the Head of Mining Investment Banking at Laurentian Bank Securities Inc. His career has spanned across various firms including BMO Capital Markets, GMP Securities, Dundee Securities, and he was a founding principal of Eight Capital where he led the Mining Investment Banking Team.
In his previous roles he has acquired experience in corporate finance, mergers, acquisitions, business and operational development, financings and corporate strategy. He played a key role in raising several billion dollars for mining companies with a focused expertise on Canadian base metal companies.
Prior to investment banking, Mr. Gallucci spent over a decade in equity research with a focus on global mining at both GMP and Dundee Securities. At Dundee Securities, he was a Managing Director and Head of the Metals and Mining Research Team where he oversaw the complete mining franchise. He has traveled extensively visiting well over 100 mining properties across the globe. He holds a Bachelor of Commerce degree from Concordia University and an MBA in Investment Management from the Goodman Institute of Investment Management.
The Company’s CEO, Jordan Trimble stated: “We would like to welcome Mr. Gallucci to the Skyharbour team as a Director of the Company. Mr. Gallucci has years of experience as an investment banker and research analyst with a focus on Canadian exploration and mining companies including working with several uranium companies. His expertise in corporate finance, mergers and acquisitions, and capital raising will be invaluable to the company as we look to create shareholder value through new uranium discoveries and the advancement of our projects in the Athabasca Basin where multiple drill programs are currently underway.”
Mr. Gallucci stated: “I am excited to join the Board of Directors and begin working with management and the team at Skyharbour Resources. In my previous roles in mining capital markets, uranium was a key component of the mining franchises I oversaw. I believe Uranium has a key role to play in the global energy picture as we continue to pursue alternative energy sources, and global electrification. Further, Skyharbour is well positioned in the Athabasca basin, which is one of the most significant uranium rich jurisdictions in the world. I am looking forward to contributing to the Company’s growth and success.”
About Skyharbour Resources Ltd.:
Skyharbour holds an extensive portfolio of uranium and thorium exploration projects in Canada's Athabasca Basin and is well positioned to benefit from improving uranium market fundamentals with six drill-ready projects. In July 2016, Skyharbour acquired an option from Denison Mines, a large strategic shareholder of the Company, to acquire 100% of the Moore Uranium Project which is located approximately 15 kilometres east of Denison's Wheeler River project and 39 kilometres south of Cameco's McArthur River uranium mine. Moore is an advanced stage uranium exploration project with high grade uranium mineralization at the Maverick Zone. Drill results have returned up to 6.0% U3O8 over 5.9 metres, including 20.8% U3O8 over 1.5 metres at a vertical depth of 265 metres. Skyharbour has signed option agreements with Orano Canada Inc. and Azincourt Energy whereby Orano and Azincourt can earn in up to 70% of specific segments of the Preston Project through a combined $9,800,000 in total exploration expenditures, as well as $1,700,000 in total cash payments and Azincourt shares. Preston is a large, geologically prospective property proximal to Fission Uranium's Triple R deposit as well as NexGen Energy's Arrow deposit. The Company also owns a 100% interest in the Falcon Point Uranium Project on the eastern perimeter of the Basin which contains a NI 43-101 inferred resource totaling 7.0 million pounds of U3O8 at 0.03% and 5.3 million pounds of ThO2 at 0.023%. The project also hosts a high-grade surface showing with up to 68% U3O8 in grab samples from a massive pitchblende vein, the source of which has yet to be discovered. The Company's 100% owned Mann Lake Uranium project on the east side of the Basin is strategically located adjacent to the Mann Lake Joint Venture operated by Cameco, where high-grade uranium mineralization has been identified. Skyharbour's goal is to maximize shareholder value through new mineral discoveries, committed long-term partnerships, and the advancement of exploration projects in geopolitically favourable jurisdictions.
Skyharbour’s Uranium Project Map in the Athabasca Basin:
SKYHARBOUR RESOURCES LTD.
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Skyharbour Resources Ltd.
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This release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.