Brunswick Exploration Inc. (TSX-V: BRW, OTCQB: BRWXF; ‘ BRW ‘ or the ‘ Company ‘) is pleased to announce inaugural drilling results from its Anatacau Main Project, located in the Eeyou Istchee-James Bay region of Quebec. All drillholes were centered on the Anais showing and intercepted multiple, large spodumene-bearing pegmatites with rich lithium mineralization. The pegmatites are found along a major deformation corridor, reminiscent of the neighboring Galaxy deposit owned by Rio Tinto located 22 kilometers to the West.

Highlights include:

• 1.66% Li2O over 47.2 meters in drill hole AN-25-05 within a larger package of continuous lithium mineralization (present within both country rock and pegmatites) of 120.7 meters at 1.31% Li2O .
• Very high cesium values intercepted in multiple secondary sub-parallel dykes including 1.46% Cs2O over 1 meter and 0.8% Cs2O over 1 meter.
• This latest discovery is now drill traced over 170 meters of strike length and is open in all directions.

Mr. Killian Charles, President and CEO of BRW, commented: ‘Today’s exciting results underscores the opportunities across our continuously growing portfolio. We are rapidly starting to define a sizeable lithium system at Anatacau Main which, importantly, remains open in all directions. Furthermore, we are seeing mineralization constrained to the same structural corridor that is found at Rio Tinto’s Galaxy project (54.3Mt M&I at 1.30% Li2O and 55.9Mt Inferred at 1.29%, see Note ) and BRW’s Anatacau West. At Anatacau Main, we control over 18 kilometers of this highly prospective corridor which will be the focus of subsequent work in Q1 2026.

Between these strong results at Anatacau, a forthcoming maiden resource estimate for Mirage, an inaugural drill campaign in Greenland and further growth opportunities beyond the existing portfolio, Brunswick Exploration is among the most exciting companies in the lithium exploration space.’

Table 1 : Mineralized Intercepts from Inaugural Drilling Program at Anatacau Main

True thickness is estimated between 65% and 85%

Figure 1 : Surface Map of the Anatacau Main Project and Drill Holes Completed to Date

Results Interpretation

The largest pegmatite outcrop observed at the Anais showing has now been extended to over 170 meters in strike length and to a maximum depth of 98 meters. It remains open in all direction with an apparent thickness of 47.2 meters (DDH AN-25-05) at its widest point. The main pegmatite dyke is interpreted to be dipping 85 degrees to the West. Several other, well-mineralized stacked pegmatite intervals were also intercepted in all holes, demonstrating the potential for more dyke discoveries in the vicinity of the outcrop (Figure 1). The mineralized dykes discovered at Anatacau straddle the southern side of an interpreted major deformation zone, striking northwest-southeast; a structural control that is reminiscent of the Galaxy deposit (Figure 2). The different pegmatite dykes appear to be oriented North-South to Northeast-Southwest.

The pegmatite dykes show excellent continuity in terms and mineralogy and grade, with several high-grade zones intersected to date (Table 1, Figure 3). The mineralized pegmatite dykes typically exhibit massive to coarse crystals (15+centimeters) with a mineralogy consisting of quartz, white K-feldspar, plagioclase, white spodumene, and minor amounts of muscovite, fine-grained tourmaline, and blue apatite. Spodumene crystals are inclusion-free and are consistently white unlike spodumene mineralization found at the Galaxy deposit and Anatacau West which varies from off-white to greenish. Some pegmatite intervals are under the cut-off of 0.3% Li2O but demonstrate high values of tantalum and cesium (up to 1.46% Cs2O in a 1 meter interval). This highlights the potential for other types of mineralization and by-products at the Anatacau Main project, a feature uncommon in other James Bay projects.

Host rocks consist of greywacke and amphibolite, locally deformed into schist near the deformation zone where pegmatites seem to propagate well into both units. Holmquistite, a lithium amphibole, is commonly observed in all host rocks at varying concentrations (up to 1.5% Li2O in host rock) over significant widths. This pervasive lithium alteration is potentially indicative of significant lithium bearing fluids along the deformation corridor and could be potentially used as a vectoring tool for further discoveries.

A geometallurgical study is underway at SGS using DMS (Dense Media Separation) with results expected early in 2026.

Figure 2 : Regional Map of the Anatacau Main and Anatacau West Projects

Figure 3 : Cross Section A-A’ (see Figure 1 for Location)

Table 2 : Drill Hole Collars (UTM Nad83, Zone 18N)

Anatacau Drilling Campaign Overview

Six (6) diamond drill holes were completed (see Figure 1 and Table 2) for a total of 750 meters. The holes were spaced by 55 to 100m, and all holes intercepted mineralized pegmatites.

The aim of the 2025 drilling campaign was to test at shallow depths (less than 150 meters vertical depth) the pegmatite dykes mapped at surface on the Anaïs showing. The drilling campaign was performed in HQ size to perform a geometallurgical study, planned according to a grant from the Ministry of Natural Resources and Forests of the Quebec Government.

Brunswick Exploration discovered the Anais showing in 2023, which consists of several parallel pegmatite dykes with visible spodumene mineralization. The largest dyke found to date is exposed over a 15 m wide by 100m long outcrop. Several grab samples returned high grade values ranging from1.19 to 3.83% Li2O on the outcrop itself (see press release dated July 13, 2023). The Anais lithium discovery is located 22 kilometers East and along strike from Rio Tinto’s Galaxy project and BRW’s Anatacau West project.

Note

SEC Technical Report Summary for the James Bay Lithium Project prepared by SLR Consulting (Canada), Wave International Pty and WSP Canada for Arcadium Lithium Plc., dated August 31 2023

About the Anatacau Project

The Anatacau Main and the Anatacau West Projects are under option from Osisko GP, a subsidiary of Osisko Development whereby BRW can earn a 90% interest in the projects. For further details, please refer to the November 28, 2022 News release.

QAQC

All drill core samples were collected under the supervision of BRW employees and contractors. The drill core was transported by helicopter to the logging facility at camp Wabamisk. and by truck from the drill platform to the core logging Each core was then logged, photographed, tagged, and then packed to be shipped to Val-d’Or. Core splitting by diamond saw and sampling was done by BRW contractor at their Val-d’Or facility. All pegmatite intervals were sampled at approximately 1m intervals to ensure representativity, excluding all host rock material. Host rock was also sent for analysis 1m before and after each pegmatite interval. Samples were bagged, and blanks, pulp duplicates and certified reference materials for lithium were inserted at regular intervals. Groups of samples were placed in larger bags, sealed with numbered tags, in order to maintain a chain of custody. The sample bags were transported from BRW contractor facility to the Agat laboratory in Val-d’Or. All sample preparation and analytical work was performed by Agat Laboratories. Samples were crushed in order for 75% of the material to pass through a 2mm screen (method 200075), split to a sub-sample of 250g, and the split sample pulverized (200087) to obtain more than 85% of the material passing a 75µm screen. A sub-sample of the pulverized fraction was dissolved in a sodium peroxide solution, prior to lithium analysis by ICP-OES and ICP-MS according to the Agat method 201378. All results passed the QA/QC screening at the laboratory, and all inserted standard, duplicates and blanks returned results that were within acceptable limits. All reported drill intersections are calculated on the basis of a lower cutoff grade of 0.30% Li2O.

Qualified Person

The scientific and technical information contained in this press release has been reviewed and approved by Mr. François Goulet, Manager Quebec. He is a Professional Geologist registered in Quebec and is a Qualified Person as defined by National Instrument 43-101.

About Brunswick Exploration

Brunswick Exploration is a Montreal-based mineral exploration company listed on the TSX-V under symbol BRW. The Company is focused on grassroots exploration for lithium in Canada, a critical metal necessary to global decarbonization and energy transition. The company is rapidly advancing its extensive grassroots lithium property portfolio in Canada and Greenland.

Investor Relations/information

Mr. Killian Charles, President and CEO ( info@brwexplo.ca )

Cautionary Statement on Forward-Looking Information

This news release contains ‘forward-looking information’ within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, delays in obtaining or failures to obtain required governmental, environmental or other project approvals; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; fluctuations in commodity prices; delays in the development of projects; the other risks involved in the mineral exploration and development industry; and those risks set out in the Corporation’s public documents filed on SEDAR at www.sedar.com. Although the Corporation believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Corporation disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

A tables accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1841b3d5-7add-44fc-9098-bfc9a3ad1b96

Figures accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/8f3d17e7-4ea2-4967-9ae5-99fc74320957

https://www.globenewswire.com/NewsRoom/AttachmentNg/d76899b2-eec4-43a8-8af9-0c912d555c2a

https://www.globenewswire.com/NewsRoom/AttachmentNg/76da0e33-bcfd-4bc2-bbff-76e34511dfa7

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Skyharbour Resources Ltd. (TSX-V: SYH ) (OTCQX: SYHBF ) (Frankfurt: SC1P ) (‘Skyharbour’, ‘SYH’ or the ‘Company’) is pleased to announce that it has entered into a definitive repurchase agreement (the ‘Strategic Agreement’) with Denison Mines Corp. (‘Denison’ or ‘DML’) whereby Denison will acquire an initial project interest in Skyharbour’s Russell Lake Uranium Project (‘Russell’ or the ‘Project’) and the parties have agreed to enter into four separate joint venture agreements at closing on various claims making up Russell (the ‘Transaction’). The Project is strategically located in the central portion of the Eastern Athabasca Basin of northern Saskatchewan, with access to regional infrastructure, including an all-weather road and powerline.

Russell Lake Project Location Map:
http://www.skyharbourltd.com/_resources/images/2025-11-14%20SKY-RussellLake-Updated.jpg

Highlights:

• Strategic Agreement represents combined total project consideration of up to CAD $61.5 million consisting of cash or share payments to Skyharbour totalling up to $21.5 million (including $18.0 million before year end) plus expenditures totalling up to $40.0 million for Denison to acquire between a 20% and 70% ownership interest over seven years in the claims making up Russell, with Skyharbour owning the remaining interests.

• Denison (TSX: DML; NYSE American: DNN), a leading uranium mining company with a market capitalization of over $3 billion, is developing the Wheeler River Project (‘Wheeler River’), which shares a 55 kilometre border with Russell. Denison is an existing, large corporate shareholder of Skyharbour and now joins the Company as a strategic, active, funding partner at Russell.

• The Project will be divided into four different joint ventures, including Russell Lake (‘RL’), Getty East, Wheeler North, and the Wheeler River Inlier Claims, of which Skyharbour will retain initial ownership interests of 80%, 70%, 51%, and 30%, respectively. Denison can then earn up to a 70% interest in the Wheeler North and Getty East properties through option agreements.

• The technical teams of Denison and Skyharbour will work cooperatively to advance and unlock value across the joint ventures, employing top-tier exploration and development expertise in the region.

• Denison has committed to a minimum of $4 million in exploration expenditures over the first two years at Wheeler North and Getty East combined, as well as agreeing to fund to maintain its pro-rata 20% participation interest in the RL claims through 2029 up until such time that total exploration expenditures on the property reach $10 million.

• Skyharbour to remain operator with an 80% ownership interest at the RL claims comprising over 53,192 hectares of the original 73,314 hectare Russell Lake Project. The Company will also act as operator during the first earn-in at Getty East with Denison sole funding the exploration in order to fulfill the earn-in option criteria.

• Skyharbour to benefit with a substantial financial commitment from Denison before year end to help fund its uranium exploration and corporate activities through 2026. The Company will also generate revenue from its operator fee at the McGowan Lake exploration camp at the Project.

• Skyharbour will continue to directly advance its high-grade Moore Uranium project as well as the RL claims at Russell, while partner companies fund exploration at some of the Company’s other projects.

Jordan Trimble, President and CEO of Skyharbour, stated: ‘This is a transformative transaction for Skyharbour and our shareholders as it represents a major stamp of approval for Russell with up to $61.5 million in combined project consideration coming in. We are very pleased to expand upon our long-standing relationship with Denison and to partner with their team to advance one of the more prospective exploration projects in the Athabasca Basin proximal to existing and developing mines. Denison’s success in exploring, permitting, and developing the neighboring world-class Wheeler River Project will provide considerable insight and experience as we jointly pursue success at Russell. Further, this transaction delivers on our belief that Russell should be treated as multiple different projects due to the abundance of targets and sheer scale of the land package in one of the most prolific uranium exploration corridors in the world. The structure and terms of the Strategic Agreement allow Skyharbour to continue exploring as operator at the majority of the claims at Russell, while participating in the future success that Denison seeks as operator at the Wheeler North and Wheeler River Inlier claims. Furthermore, we will receive a significant amount of cash and Denison shares to help fund our exploration efforts and corporate activities through 2026.’

David Cates, President and CEO of Denison, further commented: ‘As Denison nears receipt of final regulatory approvals for the Phoenix In-Situ Recovery mine proposed for our flagship Wheeler River property, we are also making measured investments in our project pipeline – including our next development assets and high-potential exploration properties. Given its proximity to Wheeler River, Denison has had an interest in adding Russell to our property portfolio for much of my nearly two decades with the Company. This transaction achieves that objective by providing Denison with the opportunity to lead and participate in exploration efforts across four newly created joint ventures, which are designed to drive collaboration between Denison and Skyharbour’s technical teams. We are excited to build on our long-standing relationship with Skyharbour and accelerate the evaluation of this exceptional package of highly prospective ground.’

Reorganization of the Russell Lake Project:
https://www.skyharbourltd.com/_resources/images/Russell-Map-New.jpg

Upon closing of the Strategic Agreement, Denison will earn an initial project interest in each of the four new Russell exploration projects including a 49% interest in the Wheeler North claims, a 20% interest in the RL claims, a 30% interest in the Getty East claims, and a 70% interest in the Wheeler River Inlier claims.

1. Wheeler North (51% SYH, 49% DML ; subject to additional earn-in options ) : The yellow claims in the map above represent 16,409 hectares over eight claims. The claims host some of the exploration targets located proximal to Wheeler River, including the Grayling and Fork Zones. Upon closing of the Transaction, Denison will have the option to increase its interest in Wheeler North to a 70% interest in these claims and Denison will become the operator of Wheeler North as described in more detail below.
2. Russell Lake or RL (80% SYH, 20% DML) : The pink claims in the map above represent 53,192 hectares over 16 claims. These claims are located north and west of Skyharbour’s Moore Project and host numerous exploration target areas including Christie Lake, NE Russell, Blue Steel, Taylor Bay, South Russell, and Kowalchuk Lake. In order to maintain its initial interest in RL, Denison has agreed to fund its pro rata share of up to a maximum of C$10.0 million in total project expenditures. Upon the closing of the Transaction, Skyharbour will remain operator of RL.
3. Wheeler River Inliers (30% SYH, 70% DML) . The blue claims in the map above represent 608 hectares over two claims. These are inlier claims within Denison’s Wheeler River project hosting the West Russell and C-Block exploration target areas. DML will become operator of the Wheeler River Inliers.
4. Getty East (70% SYH, 30% DML ; subject to additional earn-in options ) . The green claim in the map above representing 3,105 hectares is host to the Little Man Lake exploration prospect. The claim borders Cameco’s Cree Zimmer property which holds its Key Lake operations to the south.  Upon the closing of the Transaction, Skyharbour will remain operator of Getty East; however, Denison will have the option to become the operator and acquire up to a 70% interest in this joint venture as described in more detail below.

Transaction Details:

The consideration payment will consist of a $2 million cash payment immediately upon execution of the Strategic Agreement (the ‘Upfront Payment’), and deferred consideration of $16 million (the ‘Deferred Consideration’) payable on or before December 31 ^st , 2025.

The Deferred Consideration shall be payable in two tranches, each of which may be paid in cash or shares of Denison at Denison’s election, including $8 million on or before the fifth business day prior to December 21 ^st , 2025, and another $8 million within 10 days of December 21 ^st , 2025. Closing of the transaction (‘Closing’) is expected to occur on or before December 21 ^st , 2025.

The current exploration camp at McGowan Lake on the Project will continue to be operated by Skyharbour and an administrative fee will be payable by Denison to Skyharbour. The claims comprising Russell are subject to various existing underlying royalties to other parties.

The Transaction is subject to customary approvals, including Skyharbour obtaining TSX Venture Exchange approval. The Transaction will be considered a Reviewable Transaction under TSX Venture Exchange policies as David Cates is a director of both Denison and Skyharbour.

Denison Earn-In Options:

The Earn-In Option Agreements grant Denison an option to earn additional interests in Wheeler North and Getty East.

Wheeler North Earn-In Option :

Under the terms of the Wheeler North Earn-In Option Agreement, Denison may acquire up to a 70% interest in Wheeler North. The option agreement contains two (2) phases, as summarized below:

Phase 1: To earn an additional 11% interest in Wheeler North (increasing Denison’s ownership to 60%), Denison must:

• Incur $10.0 million in exploration expenditures at Wheeler North within 48 months of Closing, of which $2.5 million in exploration expenditures must be completed within 24 months of Closing, and

• Make a cash payment in the amount of $1.5 million to Skyharbour within 48 months of Closing.

Phase 2: To earn an additional 10% interest (increasing Denison’s ownership to 70%) in Wheeler North, Denison must complete the requirements of Phase 1, plus the following:

• Incur an additional $15.0 million in exploration expenditures at Wheeler North within 7 years of Closing, and

• Make a further cash payment in the amount of $2.0 million to Skyharbour within 7 years of Closing.

Getty East Earn-In Option Agreement:

Under the terms of the Getty East Option Agreement, Denison may acquire up to a 70% interest in Getty East. The option agreement contains two (2) phases, as summarized below:

Phase 1: To earn an additional 19% interest in Getty East (increasing Denison’s ownership to 49%), Denison must incur $5.0 million in exploration expenditures at Getty East within 48 months of Closing, of which $1.5 million must be completed within the first 24 months of Closing.

Phase 2: To earn an additional 21% interest in Getty East (increasing Denison’s ownership to 70%), Denison must complete the requirements of Phase 1, plus incur an additional $10 million in exploration expenditures within 7 years of Closing. Upon completion of the Phase 2 earn-in option criteria, Denison will have the option to become the operator in this joint venture.

Russell Lake Uranium Project Overview:

The Russell Lake Project is a large, advanced-stage uranium exploration property totalling 73,314 hectares strategically located between Cameco’s Key Lake and McArthur River Projects, and adjoining Denison’s Wheeler River Project to the west and Skyharbour’s Moore Uranium Project to the east. The northern extension of Highway 914 between Key Lake and McArthur River runs through the western extent of the property and greatly enhances accessibility, while a high-voltage powerline is situated alongside this road.

Skyharbour’s New 80% Owned RL Project:

The claims making up the RL Project constitute over seventy percent of the original Russell project area and will continue to be explored by Skyharbour as the operator and 80% owner. Denison will acquire a 20% interest and has agreed to fund to maintain its pro-rata participation interest in the RL claims through December 31 ^st , 2029, or until such time that total expenditures on the properties have reached $10 million.

The RL claims have numerous highly prospective targets that Skyharbour will continue to advance. The Christie Lake target area contains basement-hosted uranium mineralization with historical drilling returning 0.17% U ₃ O ₈ over 0.4 metres at 436.4 metres depth in hole CL-10-03, hosted within a strongly hematized breccia. A prospective clay altered basement fault system runs throughout this area.

The Blue Steel target area comprises graphitic metasediments that were last drilled in 2008. The full extent of the graphitic corridor remains unknown and completely untested. Historical geophysics indicate potential faulting along this corridor, highlighting it as a priority area for follow-up work using modern geophysical methods to refine drill targets.

The Kowalchuk area, situated within the southern Russell claims, is another prospective area on the RL claims, with multiple inferred structural trends passing through it. This area has seen only limited modern geophysical coverage to date.

In addition to the aforementioned target areas, there are many kilometres of untested EM conductors on the RL claims underlain by rocks of low magnetic intensity, suggestive of the presence of prospective graphitic meta-pelitic basement lithologies typical of Athabasca-style uranium systems. With limited modern exploration conducted over the past 12 years, the RL claims remain underexplored and highly prospective for both expanding known mineralized zones and making new discoveries.

Advisors and Counsel:

Haywood Securities Inc. is acting as financial advisor to Skyharbour in connection with the Transaction, and AFG Law LLP and DuMoulin Black LLP are acting as legal counsel to Skyharbour.

Qualified Person:

The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed and approved by Serdar Donmez, P.Geo., VP of Exploration for Skyharbour as well as a Qualified Person.

About Skyharbour Resources Ltd.:

Skyharbour holds an extensive portfolio of uranium exploration projects in Canada’s Athabasca Basin and is well positioned to benefit from improving uranium market fundamentals with interest in thirty-seven projects covering over 616,000 hectares (over 1.5 million acres) of land. Skyharbour has acquired from Denison Mines, a large strategic shareholder of the Company, a 100% interest in the Moore Uranium Project, which is located 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 property with high-grade uranium mineralization in several zones at the Maverick Corridor. Adjacent to the Moore Project is the Russell Lake Uranium Project, which hosts widespread uranium mineralization in drill intercepts over a large property area with exploration upside potential. The Company is actively advancing these projects through exploration and drilling programs.

Skyharbour also has joint ventures with industry leaders Denison Mines, Orano Canada Inc., Azincourt Energy, and Thunderbird Resources at the Russell, Preston, East Preston, and Hook Lake Projects, respectively. The Company also has several active earn-in option partners, including CSE-listed Basin Uranium Corp. at the Mann Lake Uranium Project; TSX-V listed North Shore Uranium at the Falcon Project; UraEx Resources at the South Dufferin and Bolt Projects; Hatchet Uranium at the Highway Project; CSE-listed Mustang Energy at the 914W Project; and TSX-V listed Terra Clean Energy at the South Falcon East Project.

In aggregate, Skyharbour has now signed earn-in option agreements with partners that total to potentially over $76 million in partner-funded exploration expenditures and over $42 million in cash and share payments coming into Skyharbour, assuming that these partner companies complete their entire earn-ins at the respective projects.

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:
http://www.skyharbourltd.com/_resources/images/SKY-SaskProject-Locator-2025-11-14-Updated.jpg

To find out more about Skyharbour Resources Ltd. (TSX-V: SYH) visit the Company’s website at www.skyharbourltd.com .

Skyharbour Resources Ltd.

‘Jordan Trimble’

Jordan Trimble
President and CEO

For further information contact myself or:
Nicholas Coltura
Investor Relations Manager
Skyharbour Resources Ltd.
Telephone: 604-558-5847
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: info@skyharbourltd.com

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

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, including receipt of TSXV approval to the Transaction and the closing of the Transaction. 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, exploration and development successes, regulatory approvals including TSXV approval, and general economic, market or business conditions. Please see the public filings of the Company at www.sedarplus.ca for further information.

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Skyharbour Resources Ltd. (TSX-V: SYH ) (OTCQX: SYHBF ) (Frankfurt: SC1P ) (‘Skyharbour’ or the ‘Company’) is pleased to announce that is has entered into a definitive and binding purchase agreement (the ‘Purchase Agreement’) with Rio Tinto Exploration Canada Inc. (‘RTEC’) to increase and consolidate its ownership interest in the Russell Lake Uranium Project (‘Russell Lake’ or the ‘Project’) through the acquisition of RTEC’s minority interest in the Project (the ‘Transaction’). The Project is strategically located in the central core of the Eastern Athabasca Basin of northern Saskatchewan, with access to regional infrastructure, including an all-weather road and powerline.

Russell Lake Project Location Map:
https://www.skyharbourltd.com/_resources/images/SKY_RussellLake.jpg

Transaction Details:

Immediately prior to closing, RTEC’s interest in the Project will be approximately 42.3%. Pursuant to the terms of the Purchase Agreement, Skyharbour has agreed to acquire 100% of RTEC’s minority interest in the Project in exchange for cash consideration of C$10 million (the ‘Purchase Price’). The Purchase Price shall consist of a C$2 million deposit payable within five business days of the date of execution of the Purchase Agreement (the ‘Deposit’) and a C$8 million cash payment at closing (the ‘Closing Payment’), which is expected to be on or before December 21 ^st , 2025.

Skyharbour shall grant to RTEC a 0.25% net smelter returns royalty over Russell Lake. The acquisition of RTEC’s interest in Russell Lake will increase Skyharbour’s interest in the Project to 100%, subject to several other net smelter return royalties held by third parties.

Russell Lake Uranium Project Overview:

The Russell Lake Project is a large, advanced-stage uranium exploration property totalling 73,314 hectares strategically located between Cameco’s Key Lake and McArthur River Projects, and adjoining Denison’s Wheeler River Project to the west and Skyharbour’s Moore Uranium Project to the east. The northern extension of Highway 914 between Key Lake and McArthur River runs through the western extent of the property and greatly enhances accessibility, while a high-voltage powerline is situated alongside this road. Skyharbour’s acquisition of a majority interest in Russell Lake creates a large, nearly contiguous block of highly prospective uranium claims totalling 109,019 hectares between the Russell Lake and the Moore uranium projects. Several notable exploration targets exist on Russell, including the Grayling Zone, the M-Zone Extension target, the Little Man Lake target, the Christie Lake target, the Fox Lake Trail target and the newly identified Fork Zone target. More than 35 kilometres of largely untested prospective conductors in areas of low magnetic intensity also exist on the Property. Skyharbour is the operator and owns a majority interest in Russell Lake, having formed a joint venture partnership with RTEC at the project.

Qualified Person:

The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed and approved by Serdar Donmez, P.Geo., VP of Exploration for Skyharbour as well as a Qualified Person.

About Skyharbour Resources Ltd.:

Skyharbour holds an extensive portfolio of uranium exploration projects in Canada’s Athabasca Basin and is well positioned to benefit from improving uranium market fundamentals with interest in thirty-seven projects covering over 616,000 hectares (over 1.5 million acres) of land. Skyharbour has acquired from Denison Mines, a large strategic shareholder of the Company, a 100% interest in the Moore Uranium Project, which is located 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 property with high-grade uranium mineralization in several zones at the Maverick Corridor. Adjacent to the Moore Project is the Russell Lake Uranium Project, which hosts widespread uranium mineralization in drill intercepts over a large property area with exploration upside potential. The Company is actively advancing these projects through exploration and drilling programs.

Skyharbour also has joint ventures with industry leader Orano Canada Inc., Azincourt Energy, and Thunderbird Resources at the Preston, East Preston, and Hook Lake Projects, respectively. The Company also has several active earn-in option partners, including CSE-listed Basin Uranium Corp. at the Mann Lake Uranium Project; TSX-V listed North Shore Uranium at the Falcon Project; UraEx Resources at the South Dufferin and Bolt Projects; Hatchet Uranium at the Highway Project; CSE-listed Mustang Energy at the 914W Project; and TSX-V listed Terra Clean Energy at the South Falcon East Project.

In aggregate, Skyharbour has now signed earn-in option agreements with partners that total to over $36 million in partner-funded exploration expenditures, over $20 million worth of shares being issued, and $14 million in cash payments coming into Skyharbour, assuming that these partner companies complete their entire earn-ins at the respective projects.

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:
https://skyharbourltd.com/_resources/news/SKY_SaskProject_Locator_2025_07_16_v1.jpg

To find out more about Skyharbour Resources Ltd. (TSX-V: SYH) visit the Company’s website at www.skyharbourltd.com .

Skyharbour Resources Ltd.

‘Jordan Trimble’

Jordan Trimble
President and CEO

For further information contact myself or:
Nicholas Coltura
Investor Relations Manager
Skyharbour Resources Ltd.
Telephone: 604-558-5847
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: info@skyharbourltd.com

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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, including receipt of TSXV approval to the Transaction and the closing of the Transaction. 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, exploration and development successes, regulatory approvals including TSXV approval, and general economic, market or business conditions. Please see the public filings of the Company at www.sedarplus.ca for further information.

Holly Iervella

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Perth, Australia (ABN Newswire) – Locksley Resources Ltd (ASX:LKY,OTC:LKYRF) (FRA:X5L) (OTCMKTS:LKYRF) announced it has formalised a research collaboration with Columbia University, one of the United States’ premier institutions in sustainable mineral processing, to advance next-generation recovery and separation of REEs and other energy and technology critical metals from geologic resources in the Mountain Pass region, California.

HIGHLIGHTS

– Locksley Resources enters into a Sponsored Research Agreement with Columbia University to develop advanced, sustainable processing technologies for Rare Earth Elements (REE) and critical metal recovery

– Research will integrate AI-driven ore characterisation, innovative electrochemical recovery, and CO2 assisted mineral processing to address limitations of traditional, non-U.S. processing methods

– Program complements Locksley’s existing green DeepSolv(TM) antimony processing partnership with Rice University, establishing a unified, dual-commodity U.S. technology development strategy

– Techno-Economic Assessment (TEA) and Life-Cycle Analysis (LCA) will underpin recommendations for scalable, low-impact pilot pathways in the U.S.

– Research focus areas align directly with critical funding mandates from the Department of Energy’s (DOE) recent US$355 million funding announcement. Including the US$80 million ‘Mine of the Future – Proving Ground’ initiative, supporting development, processing innovation, and sustainable mining technologies

The research program will be led by Professor Greeshma Gadikota, Director of the LenfestCentre for Sustainable Energy at Columbia University and a leading researcher in electrochemical and CO assisted mineral processing technologies.

Professor Greeshma Gadikota, Principal Investigator at Columbia University, commented:

‘Our team is excited to collaborate with Locksley Resources on developing scalable, low impact pathways for rare earth recovery. The combination of advanced electrochemical science, Artificial Intelligence (AI) assisted resource mapping, and industry aligned pilot design, offers a transformative route toward sustainable critical minerals production in the U.S.’

Program Overview

The collaboration will develop an integrated technology platform for the advanced characterisation, recovery, and separation of REEs and transition metals from carbonatite, monazite, and silicate ores within the Clark Mountain District, the geological district that hosts both the El Campo Prospect and the adjacent Mountain Pass Mine.

The project includes three principal aims:

– Characterisation of Ores: Detailed mineralogical, compositional, and morphological studies of REE-bearing ores using advanced spectroscopy and microscopy to inform processing design.

– Technology Development: Creation of tuneable electrochemical and CO2 assisted leaching systems for >80% dissolution efficiency, followed by pH-swing and sorbentbased selective recovery of REEs and co-metals.

– Field Deployment Strategy: Integration of TEA and LCA to identify scalable, low impact pilot pathways for mine-to-material deployment.

Columbia will also utilise AI-enabled ore mapping and low impact mining technologies, including selective trenching systems, autonomous precision cutters, and AI-driven rock recognition, to evaluate novel ‘Mines of the Future’ concepts under active U.S. Department of Energy and ARPA-E frameworks.

Locksley will advance project funding of US$150,000 over the next 12 months to support the development of the intellectual property under the Agreement.

Strategic Importance

This collaboration expands Locksley’s established U.S technology platform alongside Rice University’s DeepSolv DES processing program, broadening the Company’s U.S. university partnerships to encompass both antimony and rare earth elements, two critical minerals central to American supply chain independence.

This strategic positioning is further strengthened by the recent DOE’s US$355 million funding announcement supporting domestic critical minerals production, sustainable mining technologies, and pilot-scale processing development. Many of Columbia program’s key research workstreams, including electrochemical extraction, AI-enabled ore mapping, and TEA/LCA frameworks are directly aligned with the objectives of the DOE initiatives.

Together, the Rice and Columbia University programs place Locksley as one of the few Australian-listed groups actively advancing U.S. based critical minerals processing specifically targeting defence, energy storage, and clean technology applications.

The research focus aligns closely with the technical and strategic priorities of several major federally funded U.S. initiatives including:

– DOE, ARPA-E and Office of Fossil Energy Carbon Management

– DoW Defence Production Act Title III

– U.S. Department of Commerce & NSF Critical Minerals and Emerging Technologies Programs

Locksley and Columbia are jointly pursuing DOE and DoW funding pathways for process development and pilot scale demonstration, with Columbia’s track record of commercialisation (via Carbon To Stone and Stone To H2) providing a strong foundation for applied outcomes.

Downstream Processing Integration

The Columbia and Rice University programs together underpin Locksley’s advanced processing strategy in the United States. Rice University’s work on green hydrometallurgical extraction of antimony and advanced energy storage materials directly complements Columbia’s electrochemical recovery of rare earths, creating a unified, dual-pathway platform for American-controlled critical mineral processing.

Kerrie Matthews, Locksley Chief Executive Officer commented:

‘This collaboration with Columbia University expands our U.S. research partnerships into rare earths, complementing our DeepSolv(TM) DES work with Rice University on antimony.

Together, these programs significantly strengthen the technical foundation of our U.S Mineto-Market strategy and broaden our exposure to emerging American developed processing technologies. The alignment of this work with current U.S Government priorities, including the DOE’s recent US$355 million funding initiatives, enhances our ability to engage with suitable programs as we progress towards pilot-scale development. This represents an important step in supporting domestic supply chains for minerals that are essential to defence, electrification, and advanced manufacturing.’

Next Steps

This collaboration now moves into its implementation phase, with several near-term activities scheduled to initiate the technical and commercial workstreams, including:

– Shipment of ore and concentrate samples from the Mojave Project to Columbia for advanced mineralogical and electrochemical analysis.

– First governance meeting between Locksley and Columbia’s research team will take place in November and establish program parameters and IP protocols.

– Joint preparation of applications for suitable DOE and DoW funding initiatives under ARPA-E and Mines of the Future initiatives, supporting pilot scale development and field deployment.

– Monthly meetings will ensure strong alignment between academic research and Locksley’s U.S. mine-to-market commercialisation strategy

About Locksley Resources Limited:

Locksley Resources Limited (ASX:LKY,OTC:LKYRF) (FRA:X5L) (OTCMKTS:LKYRF) is an ASX listed explorer focused on critical minerals in the United States of America. The Company is actively advancing exploration across two key assets: the Mojave Project in California, targeting rare earth elements (REEs) and antimony. Locksley Resources aims to generate shareholder value through strategic exploration, discovery and development in this highly prospective mineral region.

Mojave Project

Located in the Mojave Desert, California, the Mojave Project comprises over 250 claims across two contiguous prospect areas, namely, the North Block/Northeast Block and the El Campo Prospect. The North Block directly abuts claims held by MP Materials, while El Campo lies along strike of the Mountain Pass Mine and is enveloped by MP Materials’ claims, highlighting the strong geological continuity and exploration potential of the project area.

In addition to rare earths, the Mojave Project hosts the historic ‘Desert Antimony Mine’, which last operated in 1937. Despite the United States currently having no domestic antimony production, demand for the metal remains high due to its essential role in defense systems, semiconductors, and metal alloys. With significant surface sample results, the Desert Mine prospect represents one of the highest-grade known antimony occurrences in the U.S.

Locksley’s North American position is further strengthened by rising geopolitical urgency to diversify supply chains away from China, the global leader in both REE & antimony production. With its maiden drilling program planned, the Mojave Project is uniquely positioned to align with U.S. strategic objectives around critical mineral independence and economic security.

Tottenham Project

Locksley’s Australian portfolio comprises the advanced Tottenham Copper-Gold Project in New South Wales, focused on VMS-style mineralisation

Source:
Locksley Resources Limited

Contact:
Kerrie Matthews
Chief Executive Officer
Locksley Resources Limited
T: +61 8 9481 0389
Kerrie@locksleyresources.com.au

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