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2014-05-30

Skyharbour Resources Ltd. : Skyharbour to Acquire 100% Interests in Way Lake and Yurchison Lake Uranium Projects from Denison Mines on Eastern Flank of Athabas

Suite 1610 - 777 Dunsmuir Street, Vancouver, BC, Canada, V7Y 1K4

www.skyharbourltd.com

TSX-V Trading Symbol: SYHEmail:info@skyharbourltd.com May 30, 2014 Vancouver, BC - Skyharbour Resources Ltd.
(TSX-V:SYH)(OTC Grey:SYHBF)(Frankfurt:SC1N) ("Skyharbour" or the "Company") is
pleased to announce it has entered into a Purchase Agreement (the
"Agreement") with Denison Mines Corp. (TSX: DML) ("Denison") whereby
Skyharbour will acquire Denison's 100% interests in the 90,892 hectare Way
Lake Uranium Project as well as the 12,660 hectare Yurchison Lake Project
both located on the eastern flank of the Athabasca Basin, Saskatchewan. Under
the terms of the Agreement, Skyharbour will pay $20,000 in cash and issue two
million common shares in consideration for Denison's 100% interest in both
projects. The common shares of Skyharbour are issuable upon TSX Venture
approval and will be subject to a hold period of four months and one day from
the date of issue. Denison will retain a 2% NSR in the projects of which 1%
may be purchased by the Company for $1,000,000.

Skyharbour's Uranium Project Map in the Athabasca Basin:
http://skyharbourltd.com/_resources/SYH_Landpackage_2014.jpg

Acquisition and Property Highlights:

* Skyharbour to purchase 100% of two highly prospective uranium projects from
Denison totaling 103,552 hectares on east side of Athabasca Basin for
$20,000 in cash and two million common shares
* Way Lake Project hosts shallow, NI 43-101 compliant inferred mineral
resource totaling 6.96 million pounds U3O8and 5.34 million pounds ThO2at
Fraser Lakes Zone B
* Drilling to date at Way Lake totals over 20,000m in 105 holes with over $10
million in previous exploration across six, near-surface target areas on
the large property
* Geological and geochemical features show distinct similarities to high
grade, basement-hosted deposits in Athabasca Basin such as Eagle Point,
Millennium and Roughrider
* Exploration potential of 6 km by 7 km Fraser Lakes target area considered
exceptional, including resource expansion potential along strike and at
depth at Zone B deposit
* The Hook Lake target area at north end of Way Lake property yielded high
grade uranium grab samples of up to 48% U3O8in vein exposed at surface;
previous operators unable to definitively explain and locate the source
* Extensive geological database for project area; recommended future work
programs include defining additional resources at Fraser Lakes Zone B
uranium deposit as well as exploratory drilling on other high-potential
targets throughout property
* At Yurchison Lake Project, prospecting near old trenches returned
significant uranium (0.09% to 0.30% U3O8) and molybdenum (2,500 ppm to
6,400 ppm) mineralization in outcrop and float samples
* Two holes drilled beneath historic trenches returned highly anomalous
molybdenum values of up to 3,750 ppm and anomalous uranium values of up to
240 ppm

Jordan Trimble, President and CEO of Skyharbour, stated: "The acquisition of
100% interests in the sizeable Way Lake and Yurchison Lake Projects is a
milestone for the Company as it significantly enhances Skyharbour's portfolio
of Athabasca uranium projects. The current uranium market has presented
excellent opportunities for Skyharbour to increase its ownership, at
attractive valuations, in high-quality uranium projects in the Basin with the
objective of optimizing discovery potential and capitalizing on a future
uranium market turnaround. The more advanced-stage Way Lake Uranium Project
boasts a near surface, inferred resource of 7 million pounds U3O8open along
strike and at depth. Elsewhere on the property, the Hook Lake target area
hosts high grade uranium mineralization with historic grab samples returning
up to 48% U3O8in a massive pitchblende vein, the origin of which has yet to
be discovered. Skyharbour's management believes this is a highly accretive
deal for the Company's shareholders as we add a resource to the asset
portfolio, bolster our exposure to the east side of the Basin, and add
projects with robust exploration upside potential to complement our Syndicate
and Mann Lake projects."

Way Lake Uranium Project:

The Way Lake Uranium Project is comprised of 21 contiguous claims totaling
90,892 hectares located 55 kilometres east of the Key Lake mine in northern
Saskatchewan. Uranium mineralization discovered to date at Way Lake is
shallow and is hosted in two geological settings with the northern half of
the property characterized by structurally controlled uranium mineralization
(Hook Lake, West Way and Nob Hill zones), whereas the southern half hosts
classic Athabasca-style basement mineralization associated with
well-developed EM conductors (EWA, Walker and Fraser Lakes zones). Drilling
to date on the Way Lake Project totals over 20,000 metres in 105 holes. Over
$10 million has been invested in exploration consisting 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.

Way Lake Uranium Project Claims Map:
http://skyharbourltd.com/_resources/Way_Lake_Mineral_Deposition.jpg

Discovered in 2008, Zone B is located within the broader 6 kilometre by 7
kilometre Fraser Lakes target area where multiple mineralized zones have been
discovered along a 65 kilometre long, folded EM conductor system comprised of
Wollaston Group graphitic pelitic gneisses and uraniferous granitic
pegmatites. Diamond drilling consisting of 25 holes totaling 4,603 metres has
defined a zone of moderately dipping, multiple-stacked uranium and thorium
mineralized horizons down to 175 metres that is open to the southwest and
east-northeast as well as at depth. The style of uranium mineralization
associated with intrusive rocks is commonly referred to as "Rössing type"
mineralization named after the largest, longest-running open pit uranium mine
in the world, the Rössing Mine operated by Rio Tinto in Namibia.

JNR Resources Inc., a company acquired by Denison in 2013, announced an
initial mineral resource estimate in 2012 for the Fraser Lakes Zone B of
6,960,681 pounds U3O8inferred at an average grade of 0.03% U3O8and 5,339,219
pounds ThO2inferred at an average grade of 0.023% ThO2within 10,354,926
tonnes using a cutoff grade of 0.01% U3O8. The independent NI 43-101
technical report supporting this mineral resource estimate was filed on SEDAR
on September 26, 2012 by JNR Resources. Independent qualified persons, Dr.
Allan Armitage, P.Geo., and Alan Sexton, M.Sc., P.Geo., of GeoVector
Management Inc., are responsible for the contents of the technical report and
comments related to the resource estimate and its parameters.

Fraser Lakes Zone B Drill Collar Map:
http://skyharbourltd.com/_resources/Fraser_Lakes_B_DDH_Location_Map.jpg

The exploration potential of the Fraser Lakes target area is considered
exceptional, including the resource expansion potential of the current
deposit at Zone B. Geological and geochemical features show distinct
similarities to high-grade, basement-hosted deposits in the Athabasca Basin
such as Eagle Point, Millennium, P-Patch and Roughrider.

On the northern side of the Way Lake property at the Hook Lake target, high
grade uranium mineralization has been discovered with up to 48% U3O8in
historic grab samples. The massive pitchblende vein containing the high grade
uranium mineralization is hosted in basement intrusive rocks exposed at
surface. The mineralization has similarities to the Eagle Point uranium
deposit being structurally-controlled, vein-type, high grade, and likely part
of the feeder system to more typical high grade, unconformity uranium
deposits. Previous operators have been unable to definitively explain and
locate the source of the high grade uranium in the massive pitchblende vein
that assayed up to 48% U3O8.

Way Lake Uranium Project Geophysics Map:
http://skyharbourltd.com/_resources/SYH_Way_Lake_Zones_Map.jpg

At the EWA target located on the southern portion of the Way Lake property, up
to 0.492% U3O8and 1,300 ppm lead were obtained from grab samples. Eight holes
drilled in 2008 intersected variably radioactive granitic pegmatite dykes
including an intercept of 0.082% U3O8over 6.5 metres. The Nob Hill target in
the central part of the property hosts vein-type uranium mineralization and
includes a drill intercept of 0.018% U3O8over 5.0 metres. The Walker Lake,
Walker South and Walker River showings occur along a conductive trend that
covers some 60 kilometres of structurally displaced EM conductors in the
southwest portion of the property. Historic reconnaissance drilling has
intersected strongly clay and/or chlorite altered, sheared and faulted
graphitic pelites containing anomalous uranium, copper, nickel, zinc and
molybdenum. The West Way target at the northern end of the property consists
of vein-hosted uranium mineralization and includes grab samples that returned
up to 0.492% U3O8.

Yurchison Lake Uranium Project:

The 12,660 hectare Yurchison Lake property consisting of four claim blocks is
located 70 kilometres southeast of the McArthur River uranium mine. Previous
prospecting and geological mapping in and near old trenches returned
significant uranium (0.09% to 0.30% U3O8) and molybdenum (2,500 ppm to 6,400
ppm) mineralization in both outcrop and float samples. In 2008, two holes
drilled beneath the historic trenches returned highly anomalous molybdenum
values of up to 3,750 ppm and anomalous uranium values of up to 240 ppm. The
property boasts strong discovery potential for both basement hosted uranium
mineralization as well as copper, zinc and molybdenum mineralization.

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.

Share Purchase Warrants to be Extended:

Skyharbour also announces that it will make an application with the TSX
Venture Exchange to extend the exercise period of a total of 1,800,000
non-transferable share purchase warrants (the "Warrants") for a further two
year term. The Warrants are comprised of 1,800,000 Warrants issued in
connection with a 2,000,000 unit non flow-through private placement, with
closing announced on June 29, 2011. The 1,800,000 Warrants are currently
exercisable at a price of $0.125 per warrant share until June 24, 2014. Upon
receipt of TSX Venture Exchange acceptance, the 1,800,000 Warrants will
expire after the close of business on June 24, 2016.

About Skyharbour Resources Ltd.:

Skyharbour Resources Ltd. is a uranium exploration company and a member of the
W...

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