ASX Share rice
Tue 11 May 2021 - 04:32:pm (Sydney)

VAL Share Price

VALOR RESOURCES LIMITEDVALMaterials

VAL Company Information

Name:

Valor Resources Limited

Sector:

Basic Materials

Industry:

Other Precious Metals & Mining

GIC Industry:

Metals & Mining

GIC Sub Industry:

Diversified Metals & Mining

Address:

22 Lindsay Street Perth WA Australia 6000

Phone:

61 8 9200 3467

Company Sec. & Non-Exec. Director:

Ms. Paula Smith Lauren Cowan

Exec. Chairman:

Mr. George Bauk M.B.A., B.Bus, FCPA, MBA, GAICD

Sr. VP of Legal & Environment:

Mr. Bayani H. Agabin

Sr. VP of Production and Commercial:

Mr. Marc B. Campos

Sr. VP of Corp. Services:

Mr. Teody A. Marquez

Company Overview:

Valor Resources Limited engages in the exploration and examination of mineral resource properties. It primarily holds a 100% interest in the Berenguela project located in the Puno Department of southeastern Peru; and Picha project, which consists of 3,000 hectare exploration concession located in the Moquegua Department of southern Peru. The company was formerly known as The Carajas Copper Company Limited and changed its name to Valor Resources Limited in February 2017. Valor Resources Limited was incorporated in 1996 and is based in Perth, Australia.

VAL Share Price Information

Shares Issued:

2.89B

Market Capitalisation:

$40.51M

Revenue (TTM):

$4.03K

Earnings per Share:

$-0.002

Operating Margin (TTM):

$109.38

Return On Assets (TTM):

$0.03

Return On Equity (TTM):

$-0.10

Quarterly Revenue Growth (YOY):

2.229

Gross Profit(TTM):

$247.32K

VAL CashFlow Statement

CashFlow Date:

2020-06-30

Investments:

$-711,503

Change To Liabilities:

$-13,872

Total Cashflow From Investing Activities:

$-2,692,066

Net Borrowings:

$2.98M

Net Income:

$-3,094,431

Total Cash From Operating Activities:

$-833,253

Depreciation:

$499.30K

Other Cashflow From Investing Activities:

$168.50K

Change To Account Receivables:

$430

Capital Expenditures:

$2.86M

VAL Income Statement

Income Date:

2020-06-30

Income Before Tax:

$-3,094,430

Net Income:

$-3,094,430

Operating Income:

$-2,029,680

Other Operating Expenses:

$214.78K

Interest Expense:

$1.32M

Total Revenue:

$800

VAL Balance Sheet

Balance Sheet Date:

2020-06-30

Total Liabilities:

$14.93M

Total Stockholder Equity:

$1.02M

Other Current Liabilities:

$14.43M

Total Assets:

$15.95M

Common Stock:

$51.85M

Other Current Assets:

$14.43M

Retained Earnings:

$-68,002,000

Other Liabilities:

$105.34K

Cash:

$624.97K

Total Current Liabilities:

$14.83M

Property - Plant & Equipment:

$827.56K

Net Tangible Assets:

$1.02M

Total Current Assets:

$15.13M

Net Receivables:

$59.80K

Short-Term Investments:

$827.56K

Accounts Payable:

$351.58K

Short-Term Investments:

$827.56

Non Current Liabilities Total:

$105.34K

VAL Share Price History

VAL News

20 Apr, 2021
VANCOUVER, British Columbia, April 20, 2021 (GLOBE NEWSWIRE) -- Skyharbour Resources Ltd. (TSX-V: SYH) (OTCQB: SYHBF) (Frankfurt: SC1P) (the “Company”) is pleased to announce that partner company Valor Resources Limited (“Valor”) entered into a contract with Precision GeoSurveys Inc. through TerraLogic Exploration Inc. (“TerraLogic”), the Company’s geological consultants, to undertake a detailed airborne survey over the Hook Lake Project (previously North Falcon Point). The survey commenced in early April 2021 and is now complete. TerraLogic designed the low-level airborne magnetic and VLF-EM survey to cover the entire Hook Lake claim area, using a fixed-wing aircraft, at 75m line-spacing totaling 5,100 line-km. Final data processing, data interpretation, target selection and recommendations for follow-up ground-based exploration and drilling programs will also be handled by TerraLogic. This process is expected to take approximately six weeks, followed immediately by the recommended fieldwork in the summer and fall 2021. Application for the required regulatory permits for the ground-based work is in progress. Hook Lake (North Falcon Point) Property Locationhttps://www.skyharbourltd.com/_resources/maps/Valor-Airborne-Hook-Lake.png Jordan Trimble, President and CEO of Skyharbour Resources, stated: “We are very pleased with the progress being made by Skyharbour’s partner companies as they have been actively advancing some of our other projects. We look forward to continued work by Valor at the Hook Lake Project as they carry out a multi-phased exploration program in 2021. This will provide steady news flow and catalysts in addition to the exploration and drilling we have planned at our flagship Moore Lake Project.” The Hook Lake Project consists of 16 contiguous mining claims covering 25,846 hectares, located 60 km east of the Key Lake Uranium Mine in northern Saskatchewan. The property hosts over half a dozen significant uranium occurrences including the main Hook Lake/Zone S showing where grab samples from trenching returned assays of up to 68% U3O8 (see Valor’s ASX Release dated October 22, 2020). Skyharbour signed a Definitive Agreement with ASX-listed Valor Resources on the Hook Lake (previously North Falcon Point) Uranium Project whereby Valor can earn-in 80% of the project through $3,500,000 in total exploration expenditures, $475,000 in total cash payments over three years and an initial share issuance of 233,333,333 shares of Valor. In conjunction with the new airborne survey, Valor is also compiling and reinterpreting data and results from previous exploration work on the property. Based on the results of the Phase I airborne survey and a review of the historical data, Valor expects to implement a Phase II groundwork program in June/July 2021. Details of this work will be the subject of forthcoming announcements but is likely to include further ground geophysics as well as geochemical surveys, geological mapping and surface prospecting designed to delineate drill targets for a Phase III program. About Hook Lake Project: Valor has the right to earn an 80% working interest in the Hook Lake Uranium Project located 60 km east of the Key Lake Uranium Mine in northern Saskatchewan. Covering 25,846 hectares, the 16 contiguous mineral claims host several prospective areas of uranium mineralisation including: Hook Lake / Zone S – High grade surface outcrop with reported grades in grab samples up to 68% U3O8; a bio-geochemical survey carried out over the trenches in 2015 responded positively with along-strike anomalies 2 km to the northeastNob Hill – Fracture-controlled vein-type uranium mineralisation on surface outcrop with up to 0.130% - 0.141% U3O8 in grab samples; diamond drilling intersected anomalous uranium in several drill holes with values up to 422 ppm U over 0.5 mWest Way – Vein type U mineralisation within a NE-trending shear zone; grab samples taken from the surface showing contained variable uranium values including up to 0.475% U3O8 and drilling of the structure intersected the altered shear zone at depth, along with anomalous Cu, Ni, Co, As, V, U, & PbGrid T – Fracture-hosted secondary uranium mineralisation in sheared calc-silicates and marbles in a 100 m x 20 m zone of anomalous radioactivity with grab samples having up to 800 ppm UAlexander Lake Boulder Field – 30 biotite-quartz-k-feldspar pegmatite boulders NE of Alexander Lake; the best results include 360 ppm U, 1,400 ppm U and 1,600 ppm U respectivelyThompson Lake Boulder Field – Numerous radioactive boulders and blocks of pegmatized meta-arkose, pegmatite, and granite; the best value obtained was 738 ppm U from a granite boulderNE Alexander Lake – Several calc-silicate, plagioclase-quartz granulite, quartzite, and meta-arkose boulders with up to 4,800 ppm U, 7,600 ppm Mo and 1,220 ppm Ni The project area is in close proximity to two all-weather northern highways and grid power. Historical exploration has consisted of airborne and ground geophysics, multi-phased diamond drill campaigns, detailed geochemical sampling and surveys, and ground-based prospecting culminating in an extensive geological database for the project area. About Valor Resources Ltd: Valor Resources Limited (ASX: VAL) is an exploration company listed on the Australian Securities Exchange focused on creating shareholder value through acquisitions and exploration activities. The company is acquiring uranium projects in the Athabasca Basin of Northern Saskatchewan, Canada. 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 six drill-ready projects covering over 240,000 hectares 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 at the Maverick Zone that returned drill results of up to 6.0% U3O8 over 5.9 metres including 20.8% U3O8 over 1.5 metres at a vertical depth of 265 metres. The Company has plans for upcoming drill programs at the project. Skyharbour has entered into a joint venture partnership with industry-leader Orano Canada Inc. and has a joint venture partnership with Azincourt Energy. Orano recently earned-in 51% of the Preston Project and Azincourt recently earned-in 70% of the East Preston Project through exploration expenditures, cash payments and Azincourt share issuance. Preston and East Preston are large, geologically prospective properties proximal to Fission Uranium's Triple R deposit as well as NexGen Energy's Arrow deposit. The Company owns a 100% interest in the South Falcon Uranium Project on the eastern perimeter of the Basin which contains a NI 43-101 inferred resource totaling 7.0 million pounds of U3O8 at 0.03% and 5.3 million pounds of ThO2 at 0.023%. Furthermore, Skyharbour has recently signed a Definitive Agreement with ASX-listed Valor Resources on the Hooke Lake (previously North Falcon Point) Uranium Project whereby Valor can earn-in 80% of the project through $3,500,000 in total exploration expenditures, $475,000 in total cash payments over three years and an initial share issuance. 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/SYH-Athabasca-Map.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 TrimblePresident and CEO For further information contact myself or:Spencer CoulterCorporate Development and CommunicationsSkyharbour Resources Ltd. Telephone: 604-687-3376Toll Free: 800-567-8181Facsimile: 604-687-3119Email: 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, include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.
02 Mar, 2021
VANCOUVER, British Columbia, March 02, 2021 (GLOBE NEWSWIRE) -- Skyharbour Resources Ltd. (TSX-V: SYH) (OTCQB: SYHBF) (Frankfurt: SC1P) (the “Company”) announced that partner company Valor Resources Limited (“Valor”) has entered into an Agreement with TerraLogic Exploration Inc. (“TerraLogic”) to provide mineral exploration services on its Hook Lake (previously called North Falcon Point) uranium project located in the eastern Athabasca Basin area of Saskatchewan. The first phase of exploration work will be an airborne geophysical survey over the Hook Lake Project. TerraLogic is currently finalizing the flight grid and technical parameters for the survey and soliciting quotes from airborne contractors with contracts anticipated to be finalized in March. Hook Lake (North Falcon Point) Property Locationhttps://skyharbourltd.com/_resources/maps/hooklakeproject.png The Hook Lake Project consists of 16 contiguous mining claims covering 25,846 hectares, located 60 km east of the Key Lake Uranium Mine in northern Saskatchewan. The property hosts over half a dozen significant uranium occurrences including the main Hook Lake/Zone S showing where grab samples from trenching returned assays of up to 63% U3O8 (see Valor ASX Release dated October 22, 2020). Skyharbour signed a Definitive Agreement with ASX-listed Valor Resources on the Hook Lake (previously North Falcon Point) Uranium Project whereby Valor can earn-in 80% of the project through $3,500,000 in total exploration expenditures, $475,000 in total cash payments over three years and an initial share issuance. In conjunction with the new airborne survey, Valor is also compiling and reinterpreting data and results from previous exploration work on the property. Based on the results of the Phase I airborne survey and a review of the historical data, Valor expects to implement a Phase II groundwork program in June/July 2021. Details of this work will be the subject of forthcoming announcements but is likely to include further ground geophysics as well as geochemical surveys, geological mapping and surface prospecting designed to delineate drill targets for a Phase III program. About Hook Lake Project: Valor has the right to earn an 80% working interest in the Hook Lake Uranium Project located 60 km east of the Key Lake Uranium Mine in northern Saskatchewan. Covering 25,846 hectares, the 16 contiguous mineral claims host several prospective areas of uranium mineralisation including: Hook Lake / Zone S - High grade surface outcrop with reported grades in grab samples up to 68% U3O8; a bio-geochemical survey carried out over the trenches in 2015 responded positively with along-strike anomalies 2 km to the northeastNob Hill - Fracture-controlled vein-type uranium mineralisation on surface outcrop with up to 0.130% - 0.141% U3O8 in grab samples; diamond drilling intersected anomalous uranium in several drill holes with values up to 422 ppm U over 0.5 mWest Way - Vein type U mineralisation within a NE-trending shear zone; grab samples taken from the surface showing contained variable uranium values including up to 0.475% U3O8 and drilling of the structure intersected the altered shear zone at depth, along with anomalous Cu, Ni, Co, As, V, U, & PbGrid T - Fracture-hosted secondary uranium mineralisation in sheared calc-silicates and marbles in a 100 m x 20 m zone of anomalous radioactivity with grab samples having up to 800 ppm UAlexander Lake Boulder Field - 30 biotite-quartz-k-feldspar pegmatite boulders NE of Alexander Lake; the best results include 360 ppm U, 1,400 ppm U and 1,600 ppm U respectivelyThompson Lake Boulder Field - Numerous radioactive boulders and blocks of pegmatized meta-arkose, pegmatite, and granite; the best value obtained was 738 ppm U from a granite boulderNE Alexander Lake – Several calc-silicate, plagioclase-quartz granulite, quartzite, and meta-arkose boulders with up to 4,800 ppm U, 7,600 ppm Mo and 1,220 ppm Ni The project area is in close proximity to two all-weather northern highways and grid power. Historical exploration has consisted of airborne and ground geophysics, multi-phased diamond drill campaigns, detailed geochemical sampling and surveys, and ground-based prospecting culminating in an extensive geological database for the project area. About Valor Resources Ltd: Valor Resources Limited (ASX: VAL) is an exploration company listed on the Australian Securities Exchange focused on creating shareholder value through acquisitions and exploration activities. The company is acquiring uranium projects in the Athabasca Basin of Northern Saskatchewan, Canada through the acquisition of Pitchblende Energy Pty Ltd. George Bauk is the Executive Chairman of Valor and has over 30 years of experience within the resource industry in both production and exploration with assets in Australia and internationally. Mr. Bauk holds a Bachelor of Business (Accounting and Finance) from Edith Cowan University, is a Fellow of the CPA and has an MBA from the University of New England. He has held global operational and corporate roles with WMC Resources and Western Metals. Mr. Bauk has a strong background in strategic management, business planning, capital raising, and has experience with a variety of commodities. Mr. Bauk is a member of the WA resources industry having previously held a number of senior governing positions with the Chamber of Minerals and Energy including Vice President. Mr. Bauk has overseen several uranium exploration projects in the US, Tanzania and Western Australia, partnering with AREVA in Western Australia whilst being Managing Director of Northern Uranium prior to transitioning to Northern Minerals. In 2006, Mr. Bauk was focussed on the southern Tanzanian region which was the region known for the successful Mkuju River discovery by Mantra Resources. During his time as Managing Director of Northern Minerals, he led its rapid development from a greenfields heavy rare earth explorer to one of a few global producers of high value dysprosium outside of China. Gary Billingsley, a resident of Saskatoon, has also recently joined Valor as a non-Executive Director and brings over 48 years of experience in the resource industry. Mr. Billingsley holds a Bachelor of Science Advanced Degree in Geology from the University of Saskatchewan in Canada. He also obtained his Chartered Accountant designation and currently also holds designations as both a Professional Engineer and Professional Geoscientist. Mr. Billingsley has held several operational and corporate roles from Chief Mine Geologist to President and CEO of both small and large public companies. Besides a strong technical background, he has extensive experience on the corporate and capital markets side of the industry. He has served on board committees including Audit, Compensation, Corporate Governance and Environment, Health and Safety committees. His public company experience covers commodities including oil and gas, base metals, gold, diamonds, uranium, potash and rare earths. Some highlights of Mr. Billingsley’s career include leading the team that put Saskatchewan’s largest gold mine into production, still producing after 29 years; discovering several diamond-bearing kimberlites in Saskatchewan, one of which has now completed final feasibility; playing a major role in taking a junior potash company public, that was subsequently purchased by BHP; and establishing one of the first companies to recognize the importance of developing rare earth projects outside of China including downstream capacity. Red Cloud Pre-PDAC Mining Showcase: Skyharbour is pleased to announce that the Company will be presenting at Red Cloud’s 2021 Pre-PDAC Mining Showcase. We invite our shareholders and all interested parties to join us there. The annual conference will be a virtual event this year and will take place from March 3-5, 2021. Jordan Trimble, President and CEO, will be presenting on March 3rd at 3:40 PM Eastern Standard time. For more information and/or to register for the conference please visit: https://www.redcloudfs.com/prepdac2021/ PDAC 2021 Convention: Skyharbour will also be exhibiting at the annual PDAC 2021 Convention, the world's premier mineral exploration and mining event, which will be held virtually this year from Monday, March 8th until Thursday, March 11th. Representatives from the Company will be available to contact during PDAC 2021. Visitors to the virtual Skyharbour booth, either PDAC attendees or guests of Skyharbour, will be able to find information on the Company as well as request and book 1-on-1 meetings with management. Visitors will also be able to view the digital booth and book meetings 24 hours a day during the conference dates. Skyharbour’s digital booth hyperlink at PDAC 2021 will be made available before the convention and trade show begins on March 8th. About Skyharbour Resources Ltd.: Skyharbour holds an extensive portfolio of uranium and thorium exploration projects in Canada's Athabasca Basin and is well positioned to benefit from improving uranium market fundamentals with six drill-ready projects. 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 at the Maverick Zone that returned drill results of up to 6.0% U3O8 over 5.9 metres including 20.8% U3O8 over 1.5 metres at a vertical depth of 265 metres. Skyharbour has and option agreement with Orano Canada Inc. and a joint venture agreement with Azincourt Energy. Orano can earn in up to 70% of the Preston and Azincourt recently earned in 70% of the East Preston Project, respectively, through a combined $9,800,000 in total exploration expenditures, as well as $1,700,000 in total cash payments and Azincourt shares. Preston and Preston East are large, geologically prospective properties proximal to Fission Uranium's Triple R deposit as well as NexGen Energy's Arrow deposit. The Company owns a 100% interest in the South Falcon Uranium Project on the eastern perimeter of the Basin which contains a NI 43-101 inferred resource totaling 7.0 million pounds of U3O8 at 0.03% and 5.3 million pounds of ThO2 at 0.023%. Skyharbour has signed a Definitive Agreement with ASX-listed Valor Resources on the Hooke Lake (previously North Falcon Point) Uranium Project whereby Valor can earn-in 80% of the project through $3,500,000 in total exploration expenditures, $475,000 in total cash payments over three years and an initial share issuance. 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://skyharbourltd.com/_resources/maps/SYH-Athabasca-Map.pdf 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 TrimblePresident and CEO For further information contact myself or:Spencer CoulterCorporate Development and CommunicationsSkyharbour Resources Ltd. Telephone: 604-687-3376Toll Free: 800-567-8181Facsimile: 604-687-3119Email: 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, include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.
13 Feb, 2021
Even if it's not a huge purchase, we think it was good to see that Brian McMaster, the Non-Executive Director of Valor...
22 Oct, 2020
VANCOUVER, British Columbia, Oct. 22, 2020 (GLOBE NEWSWIRE) -- Skyharbour Resources Ltd. (TSX-V: SYH) (OTCQB: SYHBF) (Frankfurt: SC1P) (the “Company”) is pleased to announce the execution of a letter of intent (the “LOI”) with Australian-registered Pitchblende Energy Pty Ltd (“Pitchblende”), which provides Pitchblende an earn-in option to acquire an 80% working interest in the North Falcon Point Uranium Project, to be renamed the Hook Lake Uranium Project (the “Property”). Skyharbour’s Uranium Project Map in the Athabasca Basin: https://skyharbourltd.com/_resources/maps/SYH-Athabasca-MapOct2020.pdfUnder the LOI, and subject to completion of the acquisition of Pitchblende by ASX-listed Valor Resources Limited (ASX: VAL) (“Valor”), Pitchblende will contribute cash and exploration expenditure consideration totaling CAD $3,925,000 over a three-year period (“Project Consideration”). Of the Project Consideration, $425,000 will be in cash payments to Skyharbour as well as $3,500,000 in exploration expenditures. Valor will also issue a total of 250,000,000 shares (“Consideration Shares”), which will be subject to a voluntary escrow agreement and released over a period of three years.Skyharbour’s President and CEO, Jordan Trimble commented: “Skyharbour continues to execute on its business model by adding value to its project base in the Athabasca Basin through strategic partnerships and focused mineral exploration. This LOI with Pitchblende at North Falcon Point effectively utilizes our prospect generator model to advance the Company’s other projects with partner companies. We are excited to have the opportunity to work with new partners in Pitchblende and Valor led by experienced and dynamic management and technical teams. Furthermore, Skyharbour will maintain a 100% interest in the southern portion of the Falcon Point Project retaining ownership of the Frasers Lakes Uranium and Thorium Deposit. This LOI complements the option agreements signed with Orano Canada and Azincourt Energy which collectively will generate steady news flow over the next several years in addition to the continued exploration at our flagship Moore Uranium Project.”North Falcon Point Project Summary: Pitchblende will have the right to earn an 80% working interest in the North Falcon Point Project (to be renamed the Hook Lake Uranium Project) located 60 km east of the Key Lake Uranium Mine in northern Saskatchewan. Covering 25,846 hectares, the 16 contiguous mineral claims host several prospective areas of uranium mineralisation including: * Hook Lake / Zone S - High grade surface outcrop with reported grades in grab samples up to 68% U3O8; a bio-geochemical survey carried out over the trenches in 2015 responded positively with along-strike anomalies 2 km to the northeast * Nob Hill - Fracture-controlled vein-type uranium mineralisation on surface outcrop with up to 0.130% - 0.141% U3O8 in grab samples; diamond drilling intersected anomalous uranium in several drill holes with values up to 422 ppm U over 0.5 m * West Way - Vein type U mineralisation within a NE-trending shear zone; grab samples taken from the surface showing contained variable uranium values including up to 0.475% U3O8 and drilling of the structure intersected the altered shear zone at depth, along with anomalous Cu, Ni, Co, As, V, U, & Pb * Grid T - Fracture-hosted secondary uranium mineralisation in sheared calc-silicates and marbles in a 100 m x 20 m zone of anomalous radioactivity with grab samples having up to 800 ppm U * Alexander Lake Boulder Field - 30 biotite-quartz-k-feldspar pegmatite boulders NE of Alexander Lake; the best results include 360 ppm U, 1,400 ppm U and 1,600 ppm U respectively * Thompson Lake Boulder Field - Numerous radioactive boulders and blocks of pegmatized meta-arkose, pegmatite, and granite; the best value obtained was 738 ppm U from a granite boulder * NE Alexander Lake – Several calc-silicate, plagioclase-quartz granulite, quartzite, and meta-arkose boulders with up to 4,800 ppm U, 7,600 ppm Mo and 1,220 ppm Ni The project area is in close proximity to two all-weather northern highways and grid power. Historical exploration has consisted of airborne and ground geophysics, multi-phased diamond drill campaigns, detailed geochemical sampling and surveys, and ground-based prospecting culminating in an extensive geological database for the project area. Compilation and reinterpretation of previous exploration work results is already underway. It is anticipated that the initial phase of exploration work by Pitchblende will include further bio-geochemical surveys, detailed UAV magnetics, ground gravity and resistivity surveys as well as detailed geological and structural mapping. Based on this work drill targets will be selected. If carried to completion, a joint venture would be formed being 80% to Pitchblende and 20% to Skyharbour.Option Agreement Terms for the North Falcon Point Project:Under the terms of the LOI, Pitchblende may acquire up to an 80% interest in the Property by incurring an aggregate of $3,500,000 in exploration expenditures, paying a total of $425,000 and issuing an aggregate 250,000,000 Valor shares to Skyharbour as follows:DateCash PaymentsExploration ExpendituresValor Shares Released from Escrow On Closing$50,000$0100,000,000 On or before the first anniversary of Closing$75,000$750,00050,000,000 (totalling 150,000,000) On or before the second anniversary of Closing$150,000$1,000,00050,000,000 (totalling 200,000,000) On or before the third anniversary of Closing$150,000$1,750,00050,000,000 (totalling 250,000,000) TOTAL$425,000$3,500,000250,000,000 Pitchblende’s obligations to contribute the Project Consideration and complete the 80% earn-in is conditional on it choosing to proceed with the transaction following the expenditure of up to A$400,000 over the next 6-9 months for the purposes of satisfying a preliminary assessment and a portion of the first year exploration expenditures on the Property. In the event that Pitchblende elects not to proceed with the option after this period, the remainder of the Project Consideration will not be payable including the cash payments after years one through three and 150,000,000 of the Consideration Shares will be cancelled. The LOI will be formalised by a Definitive Agreement between Skyharbour, Pitchblende and Valor in due course.The transaction is subject to various conditions precedent including Valor shareholder approval as well as ASX and regulatory approval.About Pitchblende Energy Pty Ltd:Pitchblende is the subject of a binding terms sheet pursuant to which, subject to Valor shareholder approval, it will become a wholly owned subsidiary of Valor.About Valor Resources Ltd:Valor Resources Limited (ASX: VAL) is an exploration company listed on the Australian Securities Exchange focused on creating shareholder value through acquisitions and exploration activities. The company is acquiring uranium projects in the Athabasca Basin of Northern Saskatchewan, Canada through the acquisition of Pitchblende Energy Pty Ltd which is subject to shareholder approval.George Bauk is the Executive Chairman of Valor and has over 30 years of experience within the resource industry in both production and exploration with assets in Australia and internationally. Mr. Bauk holds a Bachelor of Business (Accounting and Finance) from Edith Cowan University, is a Fellow of the CPA and has an MBA from the University of New England. He has held global operational and corporate roles with WMC Resources and Western Metals. Mr. Bauk has a strong background in strategic management, business planning, capital raising, and has experience with a variety of commodities. Mr. Bauk is a member of the WA resources industry having previously held a number of senior governing positions with the Chamber of Minerals and Energy including Vice President.Mr. Bauk has overseen several uranium exploration projects in the US, Tanzania and Western Australia, partnering with AREVA in Western Australia whilst being Managing Director of Northern Uranium prior to transitioning to Northern Minerals. In 2006, Mr. Bauk was focussed on the southern Tanzanian region which was the region known for the successful Mkuju River discovery by Mantra Resources. During his time as Managing Director of Northern Minerals, he led its rapid development from a greenfields heavy rare earth explorer to one of a few global producers of high value dysprosium outside of China.Gary Billingsley, a resident of Saskatoon, has also recently joined Valor as a non-Executive Director and brings over 48 years of experience in the resource industry. Mr. Billingsley holds a Bachelor of Science Advanced Degree in Geology from the University of Saskatchewan in Canada.  He also obtained his Chartered Accountant designation and currently also holds designations as both a Professional Engineer and Professional Geoscientist.  Mr. Billingsley has held several operational and corporate roles from Chief Mine Geologist to President and CEO of both small and large public companies. Besides a strong technical background, he has extensive experience on the corporate and capital markets side of the industry. He has served on board committees including Audit, Compensation, Corporate Governance and Environment, Health and Safety committees.  His public company experience covers commodities including oil and gas, base metals, gold, diamonds, uranium, potash and rare earths.Some highlights of Mr. Billingsley’s career include leading the team that put Saskatchewan’s largest gold mine into production, still producing after 29 years; discovering several diamond-bearing kimberlites in Saskatchewan, one of which has now completed final feasibility; playing a major role in taking a junior potash company public, that was subsequently purchased by BHP; and establishing one of the first companies to recognize the importance of developing rare earth projects outside of China including downstream capacity.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 Richard Kusmirski, P.Geo., M.Sc., Skyharbour’s Head Technical Advisor and a Director, as well as a Qualified Person. About Skyharbour Resources Ltd.:Skyharbour holds an extensive portfolio of uranium and thorium exploration projects in Canada's Athabasca Basin and is well positioned to benefit from improving uranium market fundamentals with six drill-ready projects. 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 at the Maverick Zone with drill results returning up to 6.0% U3O8 over 5.9 metres including 20.8% U3O8 over 1.5 metres at a vertical depth of 265 metres. Skyharbour has signed option agreements with Orano Canada Inc. and Azincourt Energy whereby Orano and Azincourt can earn in up to 70% of the Preston Project through a combined $9,800,000 in total exploration expenditures, as well as $1,700,000 in total cash payments and Azincourt shares. Preston is a large, geologically prospective property proximal to Fission Uranium's Triple R deposit as well as NexGen Energy's Arrow deposit. The Company also owns a 100% interest in the Falcon Point Uranium Project on the eastern perimeter of the Basin which contains a NI 43-101 inferred resource totaling 7.0 million pounds of U3O8 at 0.03% and 5.3 million pounds of ThO2 at 0.023%. The Company's 100% owned Mann Lake Uranium project on the east side of the Basin is strategically located adjacent to the Mann Lake Joint Venture operated by Cameco, where high-grade uranium mineralization was recently discovered. 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://skyharbourltd.com/_resources/maps/SYH-Athabasca-Map.pdfTo 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 CEOFor further information contact myself or: Spencer Coulter Corporate Development and Communications Skyharbour Resources Ltd. Telephone: 604-687-3376 Toll Free: 800-567-8181 Facsimile: 604-687-3119 Email: info@skyharbourltd.comNEITHER 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, include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.
01 Oct, 2020
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