#Canada #Vancouver #Skyharbour #Purecore Metals #Yurchison Uranium

Purecore and Skyharbour Join Forces for Uranium Exploration

In a significant move for Purecore Metals Inc. (CSE: PURE) (FSE: J8Y), the company has officially entered into a groundbreaking agreement with Skyharbour Resources Ltd. (TSXV: SYH) on July 29, 2026. This agreement grants Purecore an option to earn a 100% interest in the Yurchison property, a uranium exploration site located in the prolific Athabasca Basin of Northern Saskatchewan, Canada.

Project Overview

The Yurchison property consists of 22 mineral claims that span approximately 35,029 hectares. This expansive site, situated about 75 kilometers south of Cameco’s Rabbit Lake uranium operation, has attracted considerable attention due to its impressive geological attributes and historical exploration work. Notably, a highway runs through the property, enhancing accessibility for future development.

Geological Highlights:
The property is primarily underlain by the Wollaston Supergroup's metasedimentary gneisses, known for their rich uranium potential. Historical sampling has revealed uranium values ranging from 0.09% to 0.30% U₃O₈, alongside notable molybdenum readings between 2,500 and 6,400 ppm. The occurrence of such mineralization highlights the area's extensive potential.

A Strategic Agreement

In the agreement's initial phase, Purecore aims to acquire a 70% interest in the property through financial commitments totaling $350,000 in cash, $700,000 worth of common shares, and at least $3.5 million in exploration expenditures. This structured approach underscores the company's commitment to maximizing Yurchison's exploration and development opportunities.

Key Financial Terms:

• - Immediate Cash Payment: $50,000 upon exchange acceptance.
• - Yearly Milestones: Additional payments of $100,000 per year for three years, with each year requiring specific exploration expenditures to ensure ongoing investment in the property.
• - Complete Ownership: Targeting a total of 100% interest, Purecore can secure this by making an additional $3 million cash payment and issuing shares equivalent to another $3 million, based on the shares' market value.

Future Outlook

Peter Berdusco, President and CEO of Purecore, emphasized the project's significance, noting the rising global demand for electricity due to technological advancements, including AI and the expansion of data centers. He stated that nuclear energy will increasingly contribute to fulfilling energy requirements, which lends an optimistic outlook for uranium production.

Similarly, Jordan Trimble, the CEO of Skyharbour, expressed enthusiasm for this partnership, identifying mutual growth opportunities. The exploration strategies will not only bolster each company's portfolio but also further solidify their place in the industry's rapidly changing landscape.

Limited Exploration and Future Potential

Despite the Yurchison property being the focus of initial exploration, much of it remains underexplored, particularly since most historical exploration predominantly occurred before 2000. The recent survey data collected, including airborne electromagnetic and radiometric analyses, indicates significant areas still have potential for discovery. This opens the door for future exploration activities, potentially leading to new findings in uranium and associated mineralization.

About Purecore Metals

Purecore Metals Inc. is strategically positioning itself in the uranium and copper market amidst a global push for electricity expansion linked to nuclear energy and advancements in technology. The partnership with Skyharbour is expected not just to propel the Yurchison Project forward but to enhance Purecore's standing within the industry significantly.

In summary, the agreement between Purecore and Skyharbour marks a pivotal step in uranium exploration within Canada's Athabasca Basin. As demand for uranium is projected to rise, the significance and timing of this deal could not be more critical, positioning both companies to benefit from an enriched future driven by clean energy solutions.