Saga Metals Corp. (‘SAGA’ or the ‘Company’) (TSXV: SAGA,OTC:SAGMF) (OTCQB: SAGMF) (FSE: 20H), a North American exploration company advancing critical mineral discoveries, is pleased to announce the full logging of all eight drill holes completed in the Trapper zone and confirms shipping three additional holes to IGS’s lab for analysis.

Additionally, important new structural data in Trapper South’s R-0014 have been identified, providing valuable insights into the two major magnetic anomalies. This initial phase of drilling for a mineral resource estimate focused on the Trapper North and Trapper South zones, which yielded extensive oxide mineralization and significant structural insights.

Drilling and Sampling Highlights

• Total Trapper Zone drilling: 2,050 meters across the Trapper North and South zones.
• Phases 1 & 2 have confirmed extensive oxide mineralization in all drill locations, validating the 3 km ground magnetic anomaly within the Trapper zone.
• Completion of these initial phases of the 2025-2026 mineral resource estimate drill program has further validated about 16 km of the regional aeromagnetic high trend that extends from the Hawkeye zone to the Trapper North zone.
• 5 of 8 drill holes have been sent for assaying: Samples from drill holes R-0010 (174 samples), R-0011 (158 samples), and R-0013 (141 samples) – totalling 473 samples – have been shipped to IGS in Montreal for analysis.
• Ongoing Sampling: The team is operating on night and day shifts to complete sampling of the remaining holes (R-0012, R-0014, and R-0015) before the December break.
• Projected Total Samples: Upon completion of the final shipment of the remaining three drill holes, a total of 1,313 samples will have been securely shipped for assaying.
• Assay Turnaround: IGS has estimated a 3- to 4-week processing time once samples arrive at the lab. SAGA confirms the first two holes of the maiden resource estimate drill program arrived on December 10, 2025.

Figure 1: Location of the Phase 1 and Phase 2 of Fall 2025 Drilling at Trapper Zone, showing the TMI of the 2025 Trapper Zone ground magnetic survey.

Geological Findings in Trapper South: Understanding Key Structural Data

The logging and sampling of holes R-0014 and R-0015 have concluded the interception of impressive rhythmic magnetite layering across the second of the two major magnetic anomalies in Trapper South, herein described as the Western Anomaly intersections:

• R-0014: cumulated intersections of 69.54 meters of oxide layering.
• R-0015: cumulated intersections of 146 meters of tightly banded rhythmic oxide layering sequences.

The cross-section of Trapper South has provided vital structural information for the southern half of the property and insights into the regional structural geometry. Analysis suggests that the two anomalies (East and West) were initially connected but have since been separated by a combination of folding and faulting, specifically a left-lateral strike-slip reverse fault.

Figure 2: Outlines a left-lateral, strike-slip reverse fault. The hanging wall (East anomaly) is offset primarily relative to the (West) Footwall. The map shows analogs of the geometric pattern observed in the core in both R-0015 and R-0014. Similar offsets were also viewed in both R-0013 and R-0012.

Drilling on Section S11 has defined structural geometry, enabling more efficient future drilling. Hole R-0014 proved particularly informative, confirming the presence of reverse faults. This has enhanced the team’s understanding of the structural geometry of the Trapper South anomaly, the genesis of the Dykes River intrusion, and the historical connectivity between the two limbs.

On the surface in Trapper South, the first-pass cross-section (Section S11) across the width of the anomalies has defined two linear trends and discrete sets of oxide layering sequences:

• Western anomaly: Striking 1.4 km with a width of approximately 150 m.
• Eastern anomaly: Striking 700 m with a width of approximately 150 m.

Figure 3: Cross-Section S-11 showing R-0012, -0013, -0014 and -0015 with the 3D Magnetic Inversion of the 2025 Trapper Zone ground magnetic survey. Additional targets lie SW of the collar of R-0015.

Saga Metals Completes Phase 2 of Major Drill Program at the Radar – Status:

• Testing of both the North and South sections of the Trapper zone, with initial drilling of 2,050 meters in 8 holes, has been completed as planned before the December break.
• Confirmation of extensive oxide mineralization at all drill locations validates the entire 3+ km strike length within the Trapper zone.

Pending Technical Work

The team will await assay results to complete a comprehensive interpretation, which will inform initial drilling plans for early Q1 2026. These findings underscore the potential of the Radar Project and position Saga Metals for continued advancement in critical minerals exploration.

Drilling has been complemented by metallurgical sampling through the winter, with core from the Hawkeye zone (results expected in the coming weeks), and further metallurgical sampling and testing will continue with core from the Trapper zone starting in Q1 2026.

‘We are thrilled with the success of our major drill program to date at the Radar Project. This first phase has exceeded expectations, confirming extensive oxide mineralization across significant intercepts. The structural interpretations from Trapper South are particularly exciting, as they reveal that the southern anomalies were once fully connected, offering profound insights into the geological evolution of the area and enhancing our strategy for drilling in the New Year.’ – Michael Garagan, CGO & Director of Saga Metals.

Figure 4: Gladiator Drilling’s excavator and drill shack on site in the Trapper Zone.

Drill Program Objectives:

Phase 1 and 2 in Q4 2025 collected important structural, geometric, and mineralogical data in both the North and South Trapper zones and will inform the design of SAGA’s robust 2026 maiden resource estimate.

The next Trapper Zone drill campaign will target:

• Grade continuity across a 3 km strike length.
• Oxide layering widths and continuity to about 200 meters below the surface.
• Integration of structural interpretations from trenching and drilling with the design of diamond drilling programs.
• Sufficient geological correlations and drilling density to support a mineral resource estimate at the Indicated level of confidence.

Figure 5: Radar Project’s Trapper Zone depicting a 3+ km Total Magnetic Intensity (TMI) anomaly from the 2025 ground survey and the oxide layering trend. The Trapper Trail (in black) will be the target of the planned 15,000 m diamond drilling program aimed at establishing Saga’s maiden mineral resource estimation.

About Radar Property

The Radar Property spans 24,175 hectares and hosts the entire Dykes River intrusive complex (~160 km²), a unique position among Western explorers. Geological mapping, geophysics, and trenching have already confirmed oxide layering across more than 20 km of strike length, with mineralization open for expansion.

Vanadiferous titanomagnetite (‘VTM’) mineralization at Radar is comparable to global Fe–Ti–V systems such as Panzhihua (China), Bushveld (South Africa), and Tellnes (Norway), positioning the Project as a potential strategic future supplier of titanium, vanadium, and iron to North American markets.

Figure 6: Radar Project’s prospective oxide layering zone validated over ~16 km strike length through Fall 2025 drilling, as shown on a compilation of historical airborne geophysics as well as ground-based geophysics in the Hawkeye and Trapper zones completed by SAGA in the 2024/2025 field programs. SAGA has demonstrated the reliability of the regional airborne magnetic surveys after ground-truthing and drilling in the 2024 and 2025 field programs.

Corporate Update:

Further to the Company’s October 10, 2025, news release, the Company has increased the maximum marketing budget of its engagement with 1123963 B.C. Ltd. d.b.a. Capitaliz by an additional CAD $200,000 pursuant to the existing marketing services agreement. The additional budget will be used for continued corporate marketing and investor awareness services. The services are expected to continue in accordance with the existing agreement until budget exhaustion. No securities have been issued as compensation.

Qualified Person

Paul J. McGuigan, P. Geo., is an Independent Qualified Person as defined under National Instrument 43-101 and has reviewed and approved the technical information disclosed in this news release.

About Saga Metals Corp.

Saga Metals Corp. is a North American mining company focused on the exploration and discovery of a diversified suite of critical minerals that support the North American transition to supply security. The Radar Titanium Project comprises 24,175 hectares and entirely encloses the Dykes River intrusive complex, mapped at 160 km² on the surface near Cartwright, Labrador. Exploration to date, including a 2,200m drill program, has confirmed a large and mineralized layered mafic intrusion hosting vanadiferous titanomagnetite (VTM) with strong grades of titanium and vanadium.

The Double Mer Uranium Project, also in Labrador, covers 25,600 hectares and features uranium radiometrics that highlight an 18km east-west trend, with a confirmed 14km section producing samples as high as 0.428% U3O8. Uranium uranophane was identified in several areas of highest radiometric response (2024 Double Mer Technical Report).

Additionally, SAGA owns the Legacy Lithium Property in Quebec’s Eeyou Istchee James Bay region. This project, developed in partnership with Rio Tinto, has been expanded through the acquisition of the Amirault Lithium Project. Together, these properties cover 65,849 hectares and share significant geological continuity with other major players in the area, including Rio Tinto, Winsome Resources, Azimut Exploration, and Loyal Metals.

With a portfolio spanning key commodities critical to the clean energy future, SAGA is strategically positioned to play an essential role in critical mineral security.

On Behalf of the Board of Directors

Mike Stier, Chief Executive Officer

For more information, contact:

Rob Guzman, Investor Relations
Saga Metals Corp.
Tel: +1 (844) 724-2638
Email: rob@sagametals.com
www.sagametals.com

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Disclaimer
This news release contains forward-looking statements within the meaning of applicable securities laws that are not historical facts. Forward-looking statements are often identified by terms such as ‘will’, ‘may’, ‘should’, ‘anticipates’, ‘expects’, ‘believes’, and similar expressions or the negative of these words or other comparable terminology. All statements other than statements of historical fact, included in this release are forward-looking statements that involve risks and uncertainties. In particular, this news release contains forward-looking information pertaining to the Company’s Radar Project and other corporate initiatives, including market awareness contracts. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include, but are not limited to, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, environmental risks, limitations on insurance coverage, inherent risks and uncertainties involved in the mineral exploration and development industry, particularly given the early-stage nature of the Company’s assets, and the risks detailed in the Company’s continuous disclosure filings with securities regulations from time to time, available under its SEDAR+ profile at www.sedarplus.ca. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements only as expressly required by applicable law.

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NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Stallion Uranium Corp. (the ‘Company’ or ‘Stallion’) (TSX-V: STUD; OTCQB: STLNF; FSE: B76) is pleased to announce that, further to its news release dated December 12, 2025, it has increased its non-brokered private placement to gross proceeds of up to $ 6,013,250, consisting of flow-through shares of the Company to be issued as a ‘flow-through share’ within the meaning of the Income Tax Act (Canada) (each, a ‘FT Share’) at a price of $0.45 per FT Share (the ‘Offering’).

The gross proceeds from the FT Shares will be used by the Company to incur eligible ‘Canadian exploration expenses’ that qualify as ‘flow-through critical mineral mining expenditures’ as such terms are defined in the Income Tax Act (Canada) (the ‘Qualifying Expenditures‘) related to the Company’s uranium projects in the Athabasca Basin, Saskatchewan, on or before December 31, 2026. All Qualifying Expenditures will be renounced in favour of the subscribers of the FT Shares effective December 31, 2025.

The Offering is subject to TSX Venture Exchange approval. All securities to be distributed under the Offering will be subject to a hold period of four months and one day following the closing date of the Offering.

The Company may pay finders fees in connection with the Offering, in accordance with the policies of the TSX Venture Exchange.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the ‘U.S. Securities Act‘), or any state securities laws and may not be offered or sold within the United States or to or for the account or benefit of a U.S. person (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

About Stallion Uranium Corp.:

Stallion Uranium is working to ‘Fuel the Future with Uranium’ through the exploration of roughly 1,700 sq/km in the Athabasca Basin, home to the largest high-grade uranium deposits in the world. The company, with JV partner Atha Energy holds the largest contiguous project in the Western Athabasca Basin adjacent to multiple high-grade discovery zones. With a commitment to responsible exploration and cutting-edge technology such as the use of the proprietary Haystack TI technology, Stallion is positioned to play a key role in the future of clean energy.

Our leadership and advisory teams are comprised of uranium and precious metals exploration experts with the capital markets experience and the technical talent for acquiring and exploring early-stage properties. For more information visit stallionuranium.com.

On Behalf of the Board of Stallion Uranium Corp.:

Matthew Schwab
CEO and Director

Corporate Office:
700 – 838 West Hastings Street,
Vancouver, British Columbia,
V6C 0A6

T: 604-551-2360
info@stallionuranium.com

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 release.

This news release contains forward-looking statements and forward-looking information within the meaning of Canadian securities legislation (collectively, ‘forward-looking statements’) that relate to the Company’s current expectations and views of future events. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, through the use of words or phrases such as ‘will likely result’, ‘are expected to’, ‘expects’, ‘will continue’, ‘is anticipated’, ‘anticipates’, ‘believes’, ‘estimated’, ‘intends’, ‘plans’, ‘forecast’, ‘projection’, ‘strategy’, ‘objective’ and ‘outlook’) are not historical facts and may be forward-looking statements and may involve estimates, assumptions and uncertainties which could cause actual results or outcomes to differ materially from those expressed in such forward-looking statements. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this material change report should not be unduly relied upon. These statements speak only as of the date they are made.

Forward-looking statements are based on a number of assumptions and are subject to a number of risks and uncertainties, many of which are beyond the Company’s control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking statements. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. New factors emerge from time to time, and it is not possible for the Company to predict all of them or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statement. Any forward-looking statements contained in this presentation are expressly qualified in their entirety by this cautionary statement.

Blue Sky Uranium Corp. (TSXV: BSK,OTC:BKUCF) (FSE: MAL2) (OTCQB: BKUCF), ‘Blue Sky’ or the ‘Company’) is pleased to announce that the Company has launched a 1,200-metre diamond drilling program at the Ivana Gateway target (formerly Ivana Gap), located 4700 metres northwest of the Ivana deposit, within the Amarillo Grande Uranium-Vanadium district, Río Negro Province, Argentina (‘AGP’).

In October 2025, the Company completed a 5 km pole-dipole ET geophysical survey at Ivana Gateway, which delineated a 1.4 km-wide chargeability anomaly interpreted as the extension of the redox front system present at Ivana. The aim of the current program is to test for mineralization and/or geochemical vectors related to a northern extension to the Ivana uranium deposit. The program will drill a fence of holes spanning 4300 metres, testing the interpreted redox front. Contractor AGV Falcon Drilling is executing the program and all holes are being drilled using HQ-diameter core. The drilling program was initiated in late October and 11 holes have been completed to date out of 19 planned (see Figure 1). Drill core logging and sampling is ongoing, and analytical results will be released once received and interpreted.

Nikolaos Cacos, Blue Sky President & CEO commented, ‘We are pleased to be drilling a new priority target on Blue Sky’s 100% held concessions close to the Ivana deposit. We continue to refine and test our exploration model for the Amarillo Grande project, which we believe has the potential to host multiple deposits similar to Ivana.’

The Ivana Gateway target is located on concessions held by Blue Sky via its 100% owned subsidiary, Minera Cielo Azul S.A. (‘MCA‘). This drilling program is funded by Ivana Minerales S.A. (‘IMSA‘) the joint venture company (‘JVCO‘) established to advance the Ivana Uranium-Vanadium Project. Under the terms of the definitive agreement announced on December 2, 2024 IMSA has the exclusive right and option (‘Call Option‘) to acquire up to a 100% interest in certain exploration targets (‘Exploration Targets‘) at Amarillo Grande. To exercise this right, IMSA must incur certain funding obligations over the six-year term of the Call Option, pay the relevant option price pursuant to the formula set out in the Call Option, and grant to MCA a 2% royalty on all Exploration Targets acquired under the Call Option.

Qualified Persons

The technical contents of this news release have been reviewed and approved by Mr. Ariel Testi, CPG, who works for the Company and is a Qualified Person as defined in National Instrument 43-101.

About Ivana Minerales S.A.

Ivana Minerales S.A. is the operating company for the joint-venture between Blue Sky and its partner Abatare Spain, S.L.U. (‘COAM‘) to advance the Ivana Uranium-Vanadium deposit in Rio Negro Province of Argentina. The activities of JVCO are subject to the earn-in transaction (the ‘Agreement‘) in which COAM will fund cumulative expenditures of US$35 million to acquire a 49.9% indirect equity interest in the Ivana deposit, and then has the further right to earn up to an 80% equity interest in JVCO by completion of a feasibility study and funding the costs and expenditures up to US$160,000,000 to develop and construct the project to commercial production, subject to the terms and conditions in the Agreement. JVCO also has a Call Option to acquire a 100% interest in all or part of certain exploration targets owned by Blue Sky’s 100% held subsidiary, subject to certain conditions. For additional details, please refer to the News Release dated February 27, 2025, as well as the Company’s latest Financial Statements & MD&A available at blueskyuranium.com.

About Blue Sky Uranium Corp.

Blue Sky Uranium Corp. is a leader in uranium discovery in Argentina. The Company’s objective is to deliver exceptional returns to shareholders by rapidly advancing a portfolio of uranium deposits into low-cost producers, while respecting the environment, the communities, and the cultures in all the areas in which we work. Blue Sky’s flagship Amarillo Grande Project was an in-house discovery of a new district that has the potential to be both a leading domestic supplier of uranium to the growing Argentine market and a new international market supplier. The Company’s recently optioned Corcovo project has demonstrated potential to host an in-situ recovery uranium deposit. The Company is a member of the Grosso Group, a resource management group that has pioneered exploration in Argentina since 1993.

ON BEHALF OF THE BOARD

‘Nikolaos Cacos’
______________________________________
Nikolaos Cacos, President, CEO and Director

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release may contain forward-looking statements and forward-looking information (collectively, the ‘forward-looking statements’) within the meaning of applicable securities laws. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Any statements that are contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as ‘may’, ‘should’, ‘anticipate’, ‘will’, ‘estimates’, ‘believes’, ‘intends’ ‘expects’ and similar expressions which are intended to identify forward-looking statements. More particularly and without limitation, this press release contains forward-looking statements that, other than statements of historical fact, address activities, events or developments the Company believes, expects or anticipates will or may occur in the future, including, without limitation, statements about the Company’s planned drilling campaigns, its objectives and the potential mineral content of its projects. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.

Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements and, even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, the Company. Factors that could cause actual results or events to differ materially from current expectations include, among other things: uncertainty relating to mineral resources; risks related to heavy metal and transition metal price fluctuations, particularly uranium and vanadium; risks relating to the dependence of the Company on key management personnel and outside parties; the potential impact of global pandemics; risks and uncertainties related to governmental regulation and the ability to obtain, amend, or maintain licenses, permits, or surface rights; risks associated with technical difficulties in connection with mining activities; and the possibility that future exploration, development or mining results will not be consistent with the Company’s expectations, including in respect of the Company’s planned exploration program described in this news release. Actual results may differ materially from those currently anticipated in such statements. Readers are encouraged to refer to the Company’s public disclosure documents for a more detailed discussion of factors that may impact expected future results. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by securities law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/278230

Nevgold Corp. (‘NevGold’ or the ‘Company’) (TSXV:NAU,OTC:NAUFF) (OTCQX:NAUFF) (Frankfurt:5E50) is pleased to announce that is has staked an additional 90 claims, approximately 6 square kilometers or 1500 acres, with strong antimony-gold prospectivity at its Limousine Butte Project (the ‘Project’, ‘Limo Butte’) in Nevada. The newly staked ground has the same geological signatures as other antimony-gold targets at the Project.

Aerial Drone Footage of 2025 Drilling & High-Grade Antimony Bullet Zone Discovery (Click Here):

Key Highlights

• Added an additional 90 claims, approximately 6 square kilometers or 1500 acres, with strong antimony-gold prospectivity

• • The new claims encompass remaining surface exposure of a dolomite-over-Pilot Shale thrust block, as well as exposed Pilot Shale on both the west and east of the dolomite thrust; this geological setting is where the 2025 Bullet Zone drilling discovered significant antimony and gold mineralization (See News Release dated December 2, 2025).
  • Exposed outcrop in the new ground has a strong surface expression of gold and antimony mineralization, with rock chips in Pilot Shale up to 1.23 g/t Au and 0.49% Sb, and rock chips in the dolomite thrust up to 8.74 g/t Au and 0.67% Sb.

• • 8.74 g/t Au
  • 0.36% Sb and 0.10 g/t Au
  • 0.24% Sb and 0.42 g/t Au
  • 0.67% Sb*
  • 0.49% Sb*
  • 0.42% Sb*
  • 0.33% Sb and 0.41 g/t Au*
  • 0.10 % Sb and 1.07 g/t Au*
  • 0.36% Sb*
  • 1.23 g/t Au*
  • 0.76 g/t Au*

• 30 holes have been completed in the current 2025-2026 drill program with assays pending

• The Company has completed Phase 1 antimony-gold sampling of the Crushed and Run of Mine (‘ROM’) leach pads from the past-producing Golden Butte pit, which produced over 100,000 ounces of gold in 1989-1990

• • The historic leach pads have material at surface that was previously mined and crushed with strong antimony-gold potential (see Figure 3); the previous Golden Butte operation was solely focused on gold with no focus on antimony
  • Phase I sampling results will be released over the coming weeks

• Antimony is one of the highest priority Critical Minerals due to its strategic importance and military applications; Limo Butte is a brownfield mine site located in the State of Nevada with near-surface, high-grade antimony mineralization 

Limo Butte Planned 2025-2026 Activities / Status Update
NevGold will continue its active exploration program at Limo Butte including:

• Evaluating the historical geological database with focus on gold and antimony (completed);

• Advancing metallurgical testwork (Phase II completed);

• Continuing to drill test gold-antimony targets (ongoing, 30 drillholes completed)

• Sampling the Crushed and ROM leach pads from the past-producing Golden Butte pit to determine the antimony-gold mineralization (Phase I sampling completed, results in the coming weeks);

• Completing initial gold-antimony Mineral Resource Estimate (MRE) (in progress).

Other 2025-2026 Project Updates
Nutmeg Mountain Gold Project (Idaho)

• 2025 Mineral Resource Estimate (‘MRE’) completed September-2025

• Metallurgical testwork continues

• CSAMT Geophysics to start early January; additional data layers will guide 2026 drill targeting for more near-surface gold mineralization and the potential high-grade gold feeder structure

• 2026 Drill Program of ~5,000 meters focused on significantly expanding the 2025 MRE

Zeus Copper Project (Idaho)

• Geophysical Induced Polarization (‘IP’) and Magnetotellurics (‘MT’) program completed in November-2025

• Drill targeting for 2026 field program is in process

NevGold CEO, Brandon Bonifacio, comments: ‘The newly added ground at Limo Butte has the same geological signatures as the other parts of the Project with strong antimony-gold mineralization. The additional claims also extend the expansion potential to +4 kilometers from Resurrection Ridge, which is where we are currently drilling. We have completed 30 drillholes and the Phase I sampling of the historically mined gold leach pads, with results expected over the coming weeks from both of these work programs. As Limo Butte is a brownfield mine site, one key advantage is having a large amount of historically mined material already on surface in the leach pads that had a previous focus only on gold mineralization. The historically mined leach pads are a significant, near-surface antimony opportunity that we are rapidly advancing. We are pleased to enter 2026 with a strong treasury position and the ability to systematically advance our Gold and Critical Minerals assets based in the United States to maximize value for our shareholders.’

Figure 1 – Additional claims added at Limousine Butte with selected NevGold and historical sampling results. The new area encompasses remaining surface exposure of a dolomite-over-Pilot Shale thrust block, as well as exposed Pilot Shale both west and east of the dolomite thrust. This geological setting is where the key antimony-gold targets are situated at the Project. To view image please click here

Figure 2 – Large cross section at the Project outlining the strong expansion potential between Resurrection Ridge and Crashed Airplane Valley, which spans +2.5 kilometers. The newly added claims add another +1.5 kilometers of antimony-gold expansion potential around Crashed Airplane Valley. To view image please click here

Figure 3 – Resurrection Ridge target area with the historically mined Golden Butte pit gold leach pads. The historically mined leach pads have material at surface that was previously mined and crushed with strong antimony-gold potential. The previous Golden Butte operation was solely focused on gold with no focus on antimony. Phase I sampling is completed on the leach pads. To view image please click here

US Executive Order – Announced March 20, 2025
The Company is pleased to report the sweeping Executive Order to strengthen American mineral production and reduce U.S. reliance on foreign nations for its mineral supply. Antimony (Sb) has been identified as an important ‘Critical Mineral’ in the United States essential for national security, clean energy, and technology applications, yet limited domestic mine supply currently exists.

The Executive Order invokes the use of the Defense Production Act as part of a broad United States (‘US’) Government effort to expand domestic minerals production on national security grounds. As it relates to project permitting, the Order states that it will ‘identify priority projects that can be immediately approved or for which permits can be immediately issued, and take all necessary or appropriate actions…to expedite and issue the relevant permits or approvals.’ Furthermore, the Order includes provisions to accelerate access to private and public capital for domestic projects, including the creation of a ‘dedicated mineral and mineral production fund for domestic investments’ under the Development Finance Corporation (‘DFC’).

This decisive action by the US Government highlights the urgent need to expand domestic minerals output to support supply chain security in the United States. This important Order will help revitalize domestic mineral production by improving the permitting process and providing financial support to qualifying domestic projects.

Importance of Antimony
Antimony is considered a ‘Critical Mineral’ by the United States based on the U.S. Geological Survey’s 2022 list (U.S.G.S. (2022)). ‘Critical Minerals’ are metals and non-metals essential to the economy and national security. Antimony is utilized in all manners of military applications, including the manufacturing of armor piercing bullets, night vision goggles, infrared sensors, precision optics, laser sighting, explosive formulations, hardened lead for bullets and shrapnel, ammunition primers, tracer ammunition, nuclear weapons and production, tritium production, flares, military clothing, and communication equipment. Other uses include technology (semi-conductors, circuit boards, electric switches, fluorescent lighting, high quality clear glass and lithium-ion batteries) and clean-energy storage.

Globally, approximately 90% of the world’s current antimony supply is produced by China, Russia, and Tajikistan. Beginning on September 15, 2024, China, which is responsible for nearly half of all global mined antimony output and dominates global refinement and processing, announced that it will restrict antimony exports. In December-2024, China explicitly restricted antimony exports to the United States citing its dual military and civilian uses, which further exacerbated global supply chain concerns. (Lv, A. and Munroe, T. (2024)) The U.S. Department of Defense (‘DOD’) has designated antimony as a ‘Critical Mineral’ due to its importance in national security, and governments are now prioritizing domestic production to mitigate supply chain disruptions. Projects exploring antimony sources in North America play a key role in addressing these challenges.

Perpetua Resources Corp. (‘Perpetua’, NASDAQ:PPTA, TSX:PPTA) has the most advanced domestic gold-antimony project in the United States. Perpetua’s project, known as Stibnite, is located in Idaho approximately 130 km northeast of NevGold’s Nutmeg Mountain and Zeus projects. Positive advancements at Stibnite including technical development and permitting has led to US$75 million in Department of Defense (‘DOD’) awards, over $1.8 billion in indicative financing from the Export Import Bank of the United States (‘US EXIM’) (see Perpetua Resources News Release from April 8, 2024) (Perpetua Resources. (2025)), and recent strategic investments of US$180 million from Agnico-Eagle Mines Limited (‘Agnico’) and US$75 million from JPMorganChase’s $1.5 trillion Security and Resiliency Initiative. (see Perpetua Resources News Release from October 27, 2025)

Figure 4 – Limousine Butte Land Holdings and District Exploration Activity To view image please click here

Grant of Options
The Company also announces that it has granted an aggregate of 2,350,000 stock options of the Company (each, a ‘Stock Option‘) to certain directors, officers and consultants of the Company. Each Stock Option entitles the holder to acquire one common share of the Company at an exercise price of $0.78 per share at varying expiry dates between December 17, 2027 and December 17, 2030. The Stock Options were issued pursuant to the terms of the Company’s stock option plan.

ON BEHALF OF THE BOARD

‘Signed’

Brandon Bonifacio, President & CEO

For further information, please contact Brandon Bonifacio at bbonifacio@nev-gold.com, call 604-337-4997, or visit our website at www.nev-gold.com.

Sampling Methodology, Quality Control and Quality Assurance
NevGold QA/QC protocols are followed on the Project and include insertion of duplicate, blank and standard samples in all drill holes. A 30g gold fire assay and multi-elemental analysis ICP-OES method was completed by ISO 17025 certified American Assay Labs, Reno.

The historic data collection chain of custody procedures and analytical results by previous operators appear adequate and were completed to industry standard practices. For the Newmont and US Gold data a 30g gold fire assay and multi-elemental analysis ICP-OES method MS-41 was completed by ISO 17025 certified ALS Chemex, Reno or Elko Nevada.

Technical information contained in this news release has been reviewed and approved by Greg French, CPG, the Company’s Vice President, Exploration, who is NevGold’s Qualified Person (‘QP’) under National Instrument 43-101 and responsible for technical matters of this release.

About the Company
NevGold is an exploration and development company targeting large-scale mineral systems in the proven districts of Nevada and Idaho. NevGold owns a 100% interest in the Limousine Butte and Cedar Wash gold projects in Nevada, and the Nutmeg Mountain gold project and Zeus copper project in Idaho.

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 release.

Cautionary Note Regarding Forward Looking Statements

This news release contains forward-looking statements that are based on the Company’s current expectations and estimates. Forward-looking statements are frequently characterized by words such as ‘plan’, ‘expect’, ‘project’, ‘intend’, ‘believe’, ‘anticipate’, ‘estimate’, ‘suggest’, ‘indicate’ and other similar words or statements that certain events or conditions ‘may’ or ‘will’ occur. Forward-looking statements include, but are not limited to, the proposed work programs at the Company projects, the exploration potential at Limousine Butte, and future potential project milestones such as the potential Mineral Resource Estimate (‘MRE’) at Limousine Butte. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. Such risks include, but are not limited to, general economic, market and business conditions, and the ability to obtain all necessary regulatory approvals. There is some risk that the forward-looking statements will not prove to be accurate, that the management’s assumptions may not be correct or that actual results may differ materially from such forward-looking statements. Accordingly, readers should not place undue reliance on the forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.

References

Blackmon, D. (2021) Antimony: The Most Important Mineral You Never Heard Of. Article Prepared by Forbes.

Kurtenbach, E. (2024) China Bans Exports to US of Gallium, Germanium, Antimony in response to Chip Sanctions. Article Prepared by AP News.

Lv, A. and Munroe, T. (2024) China Bans Export of Critical Minerals to US as Trade Tensions Escalate.  Article Prepared by Reuters.

Lv, A. and Jackson, L. (2025) China’s Curbs on Exports of Strategic Minerals. Article Prepared by Reuters.

Perpetua Resources. (2025) Antimony Summary.  Articles and Videos Prepared by Perpetua Resources.

Sangine, E. (2022) U.S. Geological Survey, Mineral Commodity Summaries, January 2023. Antimony Summary Report prepared by U.S.G.S

U.S.G.S. (2022) U.S. Geological Survey Releases 2022 List of Critical Minerals. Reported Prepared by U.S.G.S

Wilson, D.,J., Christiansen, E., H., and Tingey, D., G., 1994, Geology and Geochemistry of the Golden Butte Mine- A Small Carlin- Type Gold Deposit in Eastern Nevada: Brigham Young University Geology Studies, v.40, P.185-211. BYU V.40 P.185-211. 

Skyharbour Resources Ltd. (TSX-V: SYH ) (OTCQX: SYHBF ) (Frankfurt: SC1P ) (‘Skyharbour’, ‘SYH’ or the ‘Company’) is pleased to announce the closing of the definitive repurchase agreement (the ‘Strategic Agreement’) with Denison Mines Corp. (‘Denison’ or ‘DML’), whereby Denison has acquired an initial project interest in Skyharbour’s Russell Lake Uranium Project (‘Russell’ or the ‘Project’) and the parties have entered into four separate joint venture agreements 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 exploration camp, 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 payments to Skyharbour totalling $10.0 million, additional consideration of $8.0 million payable in cash and shares before year end, and expenditures and cash payments totalling up to $43.5 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 has been 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 geological teams of Denison and Skyharbour have begun working 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 will 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 is well funded going into 2026 with over $11 million in the treasury. The Company will also generate revenue from its operator fee at the McGowan Lake exploration camp at the Project, as well as from cash and share payments from other option earn-in partner companies.

• 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.

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

Jordan Trimble, President and CEO of Skyharbour, stated: ‘We are thrilled to close this major transaction for Skyharbour, and to embark on the next chapter of exploration at Russell with a multi-billion dollar strategic partner and large shareholder in Denison Mines. With up to $61.5 million in combined project consideration contemplated, we are confident that this strategic agreement will expedite the discovery process at the Project while minimizing equity dilution for our shareholders. Based on initial technical meetings and strategy sessions with Denison, we are excited about the combined exploration options for the near term. Russell is one of the more prospective exploration projects in the Athabasca Basin proximal to existing and developing mines including Denison’s Pheonix deposit at Wheeler River. Denison will also be able to provide considerable insight and experience as we jointly advance Russell. Lastly, we now enter the new year with a healthy treasury of over $11 million to fund our exploration efforts and corporate activities through 2026 while various partner companies fund exploration at numerous other projects in our portfolio.’

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.’

Transaction Details:

The consideration payment consisted of a $10.0 million cash payment, with $2.0 million paid upon execution of the Strategic Agreement and $8.0 million paid upon closing of the Strategic Agreement. An additional $8.0 million is payable in cash and shares by Denison on or before December 31 ^st , 2025 with a minimum of $2.0 million payable in cash.

It is anticipated that Denison will also be making use of the current exploration camp at McGowan Lake on the Project, which 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.

Skyharbour has received conditional approval from the TSX Venture Exchange for closing. The issuance of shares by Denison to Skyharbour remains subject to appliable exchange approvals.

Summary of Initial Joint Ventures:

Upon closing of the Strategic Agreement, Denison has earned 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 claims marked in yellow in the accompanying map 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 claims marked in pink in the accompanying map 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. Skyharbour will remain operator of RL.
3. Wheeler River Inliers (30% SYH, 70% DML) . The claims marked in blue in the accompanying map 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 claim marked in green in the accompanying map 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 remains operator of Getty East; however, Denison has the option to become the operator and acquire up to a 70% interest in this joint venture as described in more detail below.

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. acted 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:
https://skyharbourltd.com/_resources/maps/SKY-SaskProject-Locator-2025-12-08.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
Corporate Communications 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.  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.

Skyharbour Resources Ltd. (TSX-V: SYH ) (OTCQX: SYHBF ) (Frankfurt: SC1P ) (‘Skyharbour’ or the ‘Company’) is pleased to announce that it has completed the acquisition of Rio Tinto Exploration Canada Inc.’s (‘RTEC’) minority interest in the Russell Lake Uranium Project (‘Russell Lake’ or the ‘Project’) pursuant to the previously announced definitive and binding purchase agreement (the ‘Purchase Agreement’). 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:
http://www.skyharbourltd.com/_resources/images/2025-11-14%20SKY-RussellLake-Updated.jpg

Transaction Details:

Immediately prior to closing, RTEC’s interest in the Project was approximately 42.3%. Pursuant to the terms of the Purchase Agreement, Skyharbour has acquired 100% of RTEC’s minority interest in the Project in exchange for cash consideration of C$10 million (the ‘Purchase Price’). The Purchase Price consisted of a C$2 million deposit, paid on signing the Purchase Agreement, and a C$8 million cash payment paid at closing.

Skyharbour has granted to RTEC a 0.25% net smelter returns royalty over Russell Lake. The acquisition of RTEC’s interest in Russell Lake has increased 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.

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 Uranium Project Map in the Athabasca Basin:
https://skyharbourltd.com/_resources/maps/SKY-SaskProject-Locator-2025-12-08.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
Corporate Communications 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. 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.