#Canada #Vancouver #Skyharbour Resources #Purecore Metals #Yurchison Property

Purecore Metals Signs Letter of Intent with Skyharbour

On July 15, 2026, Purecore Metals Inc. announced a non-binding letter of intent (LOI) with Skyharbour Resources Ltd. to acquire an option for a significant interest in the Yurchison uranium property located in the renowned Athabasca Basin of northern Saskatchewan, Canada. This strategic partnership marks a pivotal step for Purecore as it delves deeper into uranium exploration and development, particularly in an area known for hosting high-grade uranium deposits.

Yurchison Property Overview

The Yurchison property encompasses 22 mineral claims covering over 35,028.93 hectares and is strategically situated approximately 75 kilometers south of Cameco's prominent Rabbit Lake uranium operation, with Highway 905 bisecting the territory. The geology of the property includes Woollaston Supergroup metasedimentary gneisses, which are characteristically known to host uranium and other minerals.

Significant exploration activities have historically taken place in this area, featuring a variety of methods including airborne electromagnetic, magnetic, and radiometric surveys, along with geological mapping and drilling between the 1960s and the 2000s. The evidence of uranium-rich samples, ranging from 0.09% to 0.30% U3O8, alongside molybdenum readings of up to 6,400 ppm, suggests that this landscape has robust mineralization potential yet to be fully realized.

Potential and Challenges

The property remains largely underexplored despite its promising geological setting. Past exploration efforts focused predominantly on uranium showings to the west of Yurchison, while the eastern sections were concentrated on SEDEX-style lead-zinc mineralization after the nearby George Lake Pb-Zn deposit was identified. Recent technical data have introduced new opportunities for exploration, notably targeting basement-hosted uranium, pegmatite-hosted U-Th-REE, and sediment-hosted copper-lead-zinc mineralization.

The most recent advancement includes airborne EM surveys carried out in 2022 and 2023, which have provided fresh data for guided exploration efforts. The findings indicate that various mineralization types remain to be fully explored, highlighting Yurchison's viability as an enticing candidate for additional exploration and potential mineral discoveries.

Next Steps in the Partnership

With this LOI in place, Purecore and Skyharbour will engage in good-faith negotiations to finalize the terms of the mineral property option agreement, also known as the Definitive Agreement. The transaction is dependent on several conditions, including Purecore's satisfactory due diligence, the approval of each company's board of directors, and acquiring all necessary regulatory approvals, including from the Canadian Securities Exchange (CSE).

Peter Berdusco, the Chief Executive Officer of Purecore, expressed optimism about the partnership, noting the historical data and exploration potential of the Yurchison property aligns perfectly with the company's strategy for expanding its portfolio in the critical minerals sector.

About Purecore Metals Inc.

Purecore is committed to becoming a leader in mineral exploration, particularly as demand continues to rise for materials that power modern energy technologies. The company is focused on identifying and developing high-impact opportunities that align with long-term industry trends across technology and defense sectors. This collaboration with Skyharbour is expected to significantly bolster its position in the uranium market.

As mining industry stakeholders watch closely, the acquisition of the Yurchison mining property could pave the way for exciting developments in Canada's uranium exploration landscape.