Dundee Precious Metals

On December 10, White Gold Corp. (V.WGO) put out a press release detailing the new drilling and prospecting results at its “Vertigo” target. MotherlodeTV recently interviewed White Gold Corp. CEO, David D’Onofrio, about this discovery in the White Gold District, Yukon.

1. In your December 10 press release you report results from a drill hole 300 meters away from previous drilling. Why did you choose to drill there?

Soil sampling and advanced geotechnical analysis has always been at the core of our exploration strategy; a strategy designed by our Chief Technical Officer and famed prospector, Shawn Ryan. Before any drilling happens in an area, we first analyze a wide swath of the unglaciated Yukon soil as it is a strong indicator of what is contained in the bedrock underneath. Subsequent to the geochemical work, we then analyze these “Hot” zones structurally with Lidar to asses the structure, and finally follow up with the GT Probe, a highly advanced way to assess the bedrock with minimal environmental disturbance. These tools allow us to optimize the drill placements.

Once again our exploration strategy was proved correct. JPRVERRC18-016 is approximately 300m north of our core Vertigo drilling, and returned results of 9.19 g/t Au over 9.14m from 54.86m depth, including 17.2 g/t Au over 4.58m.

This is very big news, as it indicates another mineralized structure parallel to our existing Vertigo structure. With the hole’s distance and it still producing such high-grades, we believe our Vertigo discovery could be multiples larger than we previously imagined.

2. In terms of grade, how do these results compare with the results of other Vertigo holes?

The drill results to date across Vertigo have been really extraordinary, such as JPRVERRAB18-014/JPRVERRC18-013 with 22.47 g/t Au over 30.46m, including 59.3 g/t Au over 3.05m, or JPRVERRC18-006 with 31.35 g/t Au over 6.10, including 103.9 g/t Au over 1.53m; these being just a few highlights of our many high-grade holes.

What is really exciting is that these new step-out drill holes continue to demonstrate consistent high-grades, even when hundreds of metres away from our main drilling area. Holes such as JPRVERRC18-016 mentioned prior with its 9.19 g/t Au over 9.14m, or JPRVERRC18-014 with 18.6 g/t Au over 1.52m. With these latest drilling results, we see that the already significant footprint of multiple structurally controlled mineralized zones at Vertigo have been identified over hundreds of metres, on a very footprint that is largely untested. And as we continue to explore around the discovery it just keeps showing its massive potential; we really have something special here.

3. What is the significance of your sampling program also reported in the December 10 release?

As mentioned, soil and surface sampling is a main step in our exploration program. Across the Vertigo zone, surface samples returned superb grades including 304.3 g/t Au, 156.2 g/t Au and 105.0 g/t Au, with 7 samples grading over 50 g/t Au, 16 samples grading over 10 g/t Au and 29 samples grading over 2 g/t Au.

Along with being some of the highest grades ever encountered in the entire White Gold District, these soils also identified a brand new 180m wide undrilled area on the Vertigo target approximately 300m west of JPRVERRC18-009 (14.23 g/t Au over 6.10m from surface). This specific zone produced 24 samples that returned values ranging from trace up to 58.4 g/t Au, with samples averaging 10.1 g/t Au; even more high-grades of gold indicating what we have underneath.

High-grade surface samples have also been encountered on multiple other undrilled target areas along Vertigo’s 18km structural trend, with results of up to 105 g/t Au. Follow up work still needs to be completed on these targets, such as GT Probe sampling, geophysical surveys and drilling, but we believe the prospecting results in these areas are very comparable to those found at Vertigo, and thus very strong potential for these other targets to produce the same mineralization. These results indicate that we could have several other Vertigo type discoveries right under our feet! So stay tuned…

4. From a larger perspective, how do these new results fit into your overall understanding of the Vertigo area?

Whether its the new soil or grab samples or drilling results the data expands the known gold mineralization across additional parallel structures and potential on the Vertigo, and has significantly increased the footprint of the overall system. The structural zones hosting the high-grade mineralization on the Vertigo, highlight this potential for expansion of the known mineralization at the Vertigo and on the additional new discoveries on other targets in the area.

The high-grade material is also widely spread across the area is some of the most impressive in the whole Yukon. The Vertigo and the entire White Gold District is unfolding as a large-scale gold system which is just beginning to be uncovered. We look forward to receiving the remainder of the results from Vertigo and the surrounding targets and on our other properties which will be released in due course.

We are extremely happy with these results thus far!

MGX Minerals Inc. (“MGX” or the “Company”) (CSE: XMG / FKT: 1MG / OTCQB: MGXMF) is pleased to announce that joint venture partner Chilean Lithium Salars (“CLS”) is drilling at the Francisco Basin Project (the “Project”) located 30 kilometres south of the Salar de Maricunga.

The 5-hole program was designed to target the brine aquifer that extends from the Northern Lagoon, where samples in May of 2018 averaged 694mg/L Lithium. (see press release dated September 27, 2018). The drill program is testing lithium mineralization to a depth of up to 300 meters as well as the lateral extent of lithium mineralization.

The 1st hole is located in the center of where the salt lagoon anomaly encountered very high pressure of fresh water and was shut down at 20 meters.

The 2nd hole is located on the western edge of the anomaly (see Figure 2 showing drilling approximate location in red). It has successfully drilled and cased through the fresh water and is now advancing towards a depth of 110 meters where expected to encounter brine as predicted by the electro-magnetic survey.

The Project lease area comprises 12,900 hectares. An electromagnetic geophysical survey was completed in April 2018 and results indicated strong potential for the presence of two highly conductive brines zones where significant thickness and horizontal coverage may exist.

Rapid Lithium Brine Extraction Technology
MGX has developed a rapid lithium extraction technology eliminating or greatly reducing the physical footprint and investment in large, multi-phase, lake sized, lined evaporation ponds, as well as enhancing the quality of extraction and recovery across a complex range of brines as compared with traditional solar evaporation. MGX is prepared to mobilize a rapid lithium extraction system to the Francisco Basin.

Francisco Basin
The Francisco Basin Salar resides within a large, fault-bound, alluvium-filled basin to the immediate south of the Copiapó Volcano. The basin is closed, drains a large area and the Salar appears to be the lowest point within the drainage. The rocks in the drainage surrounding this salar are dominantly volcanic, ranging in age from Eocene to Miocene, juxtaposed with some older rocks. To the west is a Cretaceous sedimentary sequence separated from the volcanic rocks of the Francisco Basin area by the Cerro Guerrita Fault. To the east, an older Oligocene to Miocene volcanic sequence is overlain by the Copiapó volcanic rocks. The Francisco Basin alluvial basin sits at the junction of three catchments. These river systems presumably provide the fill for the basin and are in part, along with the limits of the Salar, structurally controlled. The alluvial fill may be covering post-Copiapó aged faulting.

About MGX’s Chilean Lithium Joint Venture
MGX is earning a 50% interest in CLS, which is a wholly owned subsidiary of Chilean Lithium Salars Holdings Ltd. (“CLSH”). CLSH holds a 100% interest in three prospective lithium exploration projects located in Chile, including the Francisco Basin, Laguna Brava and Laguna Escondida projects.  To acquire an undivided 50% interest in CLS, MGX has agreed to make Option Payments totaling US$1.5 million, incur exploration expenditures totaling US$2 million, and complete an NI 43-101 resource estimate on at least one of the Projects within 20 months. MGX is acting as project operator and has appointed Mr. Aldo Boitano, current project manager for CLS, as to oversee the project and work alongside Kura Minerals. MGX maintains the right to participate as a service provider of the engineering, construction and/or procurement of a brine processing plant using its rapid lithium extraction technology.

About Kura Minerals
MGX is represented by Kura Minerals in Chile and led by MGX’s President of South America Operations Francisco Acuña (P. Eng.). Kura Minerals is a leading mining consulting firm with a network extending throughout South America.  Additional Kura personnel and consultants include Erich Schnake, former Chilean Mining Ministry Undersecretary, Alvaro Florez (LL.B) and Thomas Eggers.

About MGX Minerals Inc.

MGX Minerals is a diversified Canadian resource and technology company with interests in global advanced material, energy and water assets.

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

Forward-Looking Statements
This press release contains forward-looking information or forward-looking statements (collectively “forward-looking information”) within the meaning of applicable securities laws. Forward-looking information is typically identified by words such as: “believe”, “expect”, “anticipate”, “intend”, “estimate”, “potentially” and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking information provided by the Company is not a guarantee of future results or performance, and that actual results may differ materially from those in forward-looking information as a result of various factors. The reader is referred to the Company’s public filings for a more complete discussion of such risk factors and their potential effects which may be accessed through the Company’s profile on SEDAR at www.sedar.com.

Photos accompanying this announcement are available at:

http://www.globenewswire.com/NewsRoom/AttachmentNg/5607caac-4f86-4def-b0e2-e0b8e2d79a9e

http://www.globenewswire.com/NewsRoom/AttachmentNg/04eeeae7-7121-4567-b170-d4438a2cb2fa

http://www.globenewswire.com/NewsRoom/AttachmentNg/ae0ea6cc-662e-4047-845b-db22af491fda

Contact Information
Jared Lazerson
President and CEO
Telephone: 1.604.681.7735
Web: www.mgxminerals.com

Aben Resources Ltd. (TSX-V: ABN) (OTCQB: ABNAF) (Frankfurt: E2L2) (“Aben” or “the Company”) reports analytical results from the remaining holes of the 2018 drill program at the Company’s 100%-controlled 23,000-hectare Forrest Kerr Gold Project. This series of holes (FK18-37à45) focussed on areas immediately adjacent to known high-grade gold horizons and sought to test for an extension of the mineralized area identified at the North Boundary Zone. Results show broad horizons of low-grade gold mineralization punctuated by intermittent intercepts of moderate to high-grade gold-silver-copper-zinc values (see table summary below). Drilling to date has shown that mineralization extends several meters outboard of high-grade precious metal intercepts in subordinate shear structures and vein arrays within a main mineralized core that measures 100m x 200m and remains open at depth.

View Forrest Kerr Drill Hole Cross Sections:
https://www.abenresources.com/projects/photo-gallery/

The greater mineralized area at the Boundary Zone measures 1.5 km x 4.0 km as defined by gold-silver-copper-zinc values in soil, rock and drill core. The area features extensive talus and vegetative cover which serve to conceal prospective precious metal bearing structures with coincident gold in soil and outcrop anomalies. Only a fraction of the prospective targets at the Boundary Zone have been drill-tested to date. Oriented core tooling was utilized for the final phase of the 2018 drill program in order to collect structural data that will help determine the orientation of both the main and subsidiary mineralized structures. The oriented core data, combined with the surface mapping data and a growing subsurface database at the Boundary Zone will assist greatly in planning future targeted drill programs.

Aben Resources completed 9900 meters of NQ drilling in 2018 on a low cost per meter basis. The number of available drill locations was constrained due to a permitting delay by the British Columbia Provincial Government in response to extreme forest fire activity in the area. As a result the last phase of targeted drilling was completed from only 3 pad locations with fan arrays from each set-up. Subsequent to completion of the summer drill program Aben received the much anticipated 5 year Multi-Year Area Based (MYAB) permit, which will allow for more extensive drill programs going forward. The Company maintains a healthy treasury which will allow for an aggressive 2019 exploration program at Forrest Kerr without significant dilution.

Mineralization at Boundary North is structurally controlled and hosted in a package of volcanic and volcaniclastic rocks from the Jurassic Hazelton Group. Several generations of quartz and quartz-carbonate veining are important hosts to mineralization, as are subordinate breccia zones with strong chlorite, hematite and carbonate alteration. The Boundary Zone lies between the Forrest Kerr Fault to the west, a major deep-seated crustal feature, and the unconformable contact between the Jurassic Hazelton Group and the Triassic Stuhini Group to the East. The rock reflects a prolonged history of strong hydrothermal activity combined with brittle deformation. The host package Hazelton is known to be a prolific host to several deposits throughout the region.

Assay Results for Holes FK18-37à45:

*Intervals are drilled intercepts and not true widths
NSR=no significant results

Golden Triangle, B.C., claims map:
https://www.abenresources.com/site/assets/files/4287/fk-003.jpg

President and CEO Jim Pettit states, “This has been a significant season for us in the Golden Triangle.  We had success early and managed to raise funds and we managed to increase our 2018 drill program to almost 10,000 meters. Granted, we did this with the understanding we would have our Multi Year Area Based Permit in hand, but, because of the extreme fires this summer, that was not to be. We did, however, manage to get a lot of good work done this year and have a tremendous amount of data to analyze to help get ready for next year. As mentioned above, only a fraction of the prospective targets at the Boundary Zone have been drill-tested to date. We also look forward to trenching and channel sampling analytic results coming from the Justin Property in the Yukon any time now and an initial winter drilling program on the Chico Property in Saskatchewan possibly commencing the end of February”.

Analytical and QA/QC Description:

All 1 or 2 meter drill core samples were delivered to ALS Global prep facility in Terrace, British Columbia where they were crushed until 70% passed a 2mm sieve, then a 250g split was pulverized until better than 85% passed a 75 micron screen. Gold was tested via fire assay method Au-ICP21 with all ore-grade samples (>10 g/t) undergoing fire assay with gravimetric finish. ALS performed multi-element ICP-AES package ME-ICP41 in their Vancouver facility to test for 35 other elements. In addition to the quality assurance and quality control program performed by ALS, Aben personnel insert lab certified standards, field blanks and duplicates into the sample stream at the rate of one QA/QC sample in every 10 samples.

Update on the Justin Gold Project, Yukon Territory

Aben Resources has now received all of the finalized analytical data from the field program completed in September 2018 on their 100% owned Justin Gold Property in the Yukon Territory.  The geologic team reported visible gold in trenches and channel samples from quartz stockwork veining in bedrock at the Lost Ace Zone, a gold-bearing zone discovered in 2017. The new mineralization style is interpreted to be orogenic-style quartz-gold veins that bear a strong resemblance to and share similar geologic setting with Golden Predator’s adjacent 3-Aces Property. Previous exploration at Justin has successfully discovered Intrusion related sheeted veins & vein breccias along with gold bearing skarn mineralization. The new discovery at Lost Ace highlights the existence of a multi-phase hydrothermal system with the potential for overprinting mineralizing systems.

Channel sampling at Lost Ace in 2017 returned 1.44 g/t Au over 5m including 4.77 g/t Au over 1.0 m in addition to a bulk soil sample that contained 1135 visible gold grains, the majority of which were termed ‘pristine’ indicating a proximal bedrock source for the gold. Historic drill results from the POW Zone, located 1.5 km southeast of the Lost Ace discovery, indicate a potential for bulk tonnage gold with 46.6 meters grading 1.49 g/t gold in JN12011 and 60.0 meters grading 1.19 g/t gold in JN11009.

Cornell McDowell, P.Geo., V.P. of Exploration of Aben Resources, has reviewed and approved the technical aspects of this news release and is the Qualified Person as defined by National Instrument 43-101.

About Aben Resources:

Aben Resources is a Canadian gold exploration company developing projects in British Columbia’s Golden Triangle, the Yukon, and Saskatchewan.

For further information on Aben Resources Ltd. (TSX-V: ABN), visit our Company’s web site at www.abenresources.com.

Aben Resources has approx. $5.6 million in its treasury and no debt.

ABEN RESOURCES LTD.

“Jim Pettit”
____________________________
JAMES G. PETTIT
President & CEO

For further information contact myself or:
Aben Resources Ltd.
Director, Corporate Communications
Telephone: 604-687-3376
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: info@abenresources.com

Neither 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 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.

MGX Minerals Inc. (“MGX” or the “Company”) (CSE: XMG / FKT: 1MG / OTCQB: MGXMF) is pleased to report additional drill results from its Fall 2018 drill program at the Fran Gold Property (“Fran” or the “Property”) in British Columbia, 30 kilometers southwest of the Mount Milligan Gold-Copper mine.

Drill hole FR18-96 intersected the down-dip extensions of auriferous veins known as Zone 3, Zone 2, and Zone 1 in addition to mineralized sections outside of the established zones. FR18-96 was collared and oriented perpendicular to strike of previously tested steeply-dipping mineralized structures. The hole returned a high-grade intercept from 136.00 to 142.35 meters that assayed 6.55 g/t gold and 0.1% copper over 4.1 meters, including 38.7 g/t gold and 0.6% copper from 140.35 to 140.90 meters.

This high-grade mineralization at depth extends mineralization encountered in historic drill hole FR-07-075 to an additional 66 meters down-dip. A broad mineralized section in Zone 2 was also intersected from 157.50 to 166.15 meters and assayed 3.13 g/t gold over 8.65 meters, including 13.9 g/t gold and 0.5% copper from 157.5 to 158 meters. The hole is located 50 meters to the northwest of FR18-95.

Previously reported drill hole FR18-95 returned a broad intercept from 227.0 to 241.0 meters of gold mineralization at depth. This confirmed the extension of gold mineralization in auriferous veins from near surface to depth. The highest-grade gold mineralization was contained within a quartz-pyrite vein which averaged 21 g/t Au over 2.2m including 35.9 g/t Au across 0.76m and 26.70 g/t Au over 0.75m (see press release dated December 3, 2018).

Hole FR18-96 Intersections by Zone
FR18-96 was collared and oriented perpendicular to strike of previously tested steeply-dipping mineralized structures. The hole is located 68 meters to the northeast of historic drill hole 75, and 50 meters to the northwest of FR18-95. The down-dip extensions of mineralized Zone 3, Zone 2, and Zone 1 were targeted and successfully intersected all zones in addition to mineralized sections outside of the established zones.

These zone intersections are based on previously interpreted mineralized zone geometries and exclude mineralized assays outside given intersections:

Zone Summary of FR18-96:

Winter 2018 Exploration
The Winter 2018 drill program is currently underway. Hole FR18-97 is a vertical hole in the underexplored Hilltop Zone 200 meters to the southwest of the Main Zone.  Additional drilling will further test the Main Zone at depth and along strike to the east.

Fran Gold Project
With the exception of short hole reconnaissance drilling at Fran East in 2017, the Fran Property has been dormant since 2011. The property encompasses 10,227 hectares and is located 30km southwest of the Mount Milligan Gold-Copper Mine and 19km by logging road from the Mount Milligan western access road. The Bullion Alley Zone has been the subject of extensive shallow exploration starting in the late 1990’s. Significant gold mineralization associated with shear zones has been intersected by historic diamond drilling. A total of 15,575 metres of diamond drilling was completed in 87 drill holes at the Bullion Alley Zone prior to 2018. Previous drilling identified three areas along the northwest trending 1.5km strike with up to three lateral zones. This drilling encountered numerous gold intercepts with variable Ag, Cu, Pb, and Zn. Previous work presumed the auriferous veins pinched out at depth (MacIntyre 2013, MINFILE 093 108). The recently discovered gold mineralization at depth suggests an alternative model must now be considered, and that gold mineralization extends and remains open.  No significant drilling below 150m occurred prior to 2018.

Quality Assurance / Quality Control
The sample chain of custody was managed by site geologist Myles Dickson (P.Geo). Drill core was stored and split at a secure storage facility in Fort St. James, BC. and shipped to ACT Labs Minerals (“ACT”) for assay using 1A2-ICP Kamloops Au-Fire Assay and 1E3-Kamloops Aqua Regia ICP(AQUAGEO). Blanks and standards were used for data verification purposes. ACT is an independent, ISO-certified analytical laboratory located in Kamloops, British Columbia.

Qualified Person
Andris Kikauka (P. Geo.), Vice President of Exploration for MGX Minerals, has prepared, reviewed and approved the scientific and technical information in this press release. Mr. Kikauka is a non-independent Qualified Person within the meaning of National Instrument 43-101 Standards.

About MGX Minerals
MGX Minerals is a diversified Canadian resource and technology company with interests in global advanced material, energy and water assets.

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

Forward-Looking Statements
This press release contains forward-looking information or forward-looking statements (collectively “forward-looking information”) within the meaning of applicable securities laws. Forward-looking information is typically identified by words such as: “believe”, “expect”, “anticipate”, “intend”, “estimate”, “potentially” and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking information provided by the Company is not a guarantee of future results or performance, and that actual results may differ materially from those in forward-looking information as a result of various factors. The reader is referred to the Company’s public filings for a more complete discussion of such risk factors and their potential effects which may be accessed through the Company’s profile on SEDAR at www.sedar.com.

Contact Information

Jared Lazerson
President and CEO
Telephone: 1.604.681.7735
Web: www.mgxminerals.com

Goldplay Exploration Ltd. (TSXV: GPLY, OTCQB: GLYXF) (“Goldplay” or the “Company”), is pleased to announce that the Company has closed the final tranche of its non-brokered private placement (the “Offering“) previously announced on November 19, 2018 and has issued 1,244,166 units for gross proceeds of $273,716.52.  Total gross proceeds raised under all tranches of this offering was $1,499,960.

FSD Pharma Inc. (“FSD Pharma”) (CSE: HUGE) (OTCQB: FSDDF) (FRA: 0K9) today announced that it is the featured company in the CannaInvestor Magazine December 2018 Issue. CannaInvestor Magazine is the leading industry investment magazine for cannabis investors, analysts, executives, entrepreneurs, and the financial media. The digital version of the magazine is accessible and free to all subscribers who enter their email address. FSD Pharma’s cover feature can be found by clicking on this link https://joom.ag/0j5a or visiting CannaInvestor Magazine’s website www.cannainvestormag.ca.

Canadian Orebodies Inc. (the “Company”) (TSXV:CORE) is pleased to announce that the first phase of drilling has been completed on the Company’s  Wire Lake project, consisting of the Black Raven, Goodchild, Sprucejack, and Wire Lake properties.

This first phase of the drill program comprised thirteen holes totalling 2098.3 metres. The drill program tested three areas on the Black Raven property including Super G, North Ridge, and Contact Lake, as well as three separate areas on the Wire Lake property: Kakeeway Zone, Lucky Seven and the West Zone.

Highlights:

• Confirmation that the Super G vein is part of a much larger mineralized system, named the Smoke Lake Gold System (“SLGS”), which is composed of multiple mineralized stacked horizons with potential for high-grade gold in every structure (Figure 1 – plan map + cross-section).
• Hole BR-2018-002 contains 133.2 g/t Au over 2.0 metres, including 443.0 g/t Au over 0.6 metre in the Super G vein of the Smoke Lake Gold System, which represents the highest-grade drill result on the property to date (Figure 1 and Table 1).
• Hole BR-2018-001 intersected 19.1 g/t Au over 2.0 metres in the Markes structure of the Smoke Lake Gold System.
• 2018 drilling in the Super G structure suggests a 170m down plunge continuity of high-grade mineralization that remains open at depth.

*Assay results reported over intersection length. Additional drilling is required to estimate the true width of the mineralized structures forming the Smoke Lake Gold System. Significant intervals reported over core lengths of at least 2.0 metres.

“We are very excited to see the results from the Super G drilling. We likely identified a significant mineralized system in the Smoke Lake area composed of multiple gold-bearing structures in which each structure has potential to host high-grade gold mineralization. Our 2018 drilling also supports the down plunge continuity of the high-grade mineralization identified in the Super G structure with a significant improvement in grade from the historic Entourage Metals Ltd. holes located up and down-plunge,” said Gordon McKinnon, President and CEO of Canadian Orebodies. “Our intersection from hole BR-2018-002 has produced one of the highest grade gold intercepts in the Hemlo Greenstone Belt outside of the Hemlo Mines complex, which was discovered in 1981. Looking into 2019, the combination of this season’s results, with the historic drilling results, will greatly improve our exploration model to expand the high-grade gold zones known in the system and to discover new ones.”

Smoke Lake Gold System

Five diamond drill holes totalling 785.3 metres were drilled in the Smoke Lake area to target the Super G vein. The results of the 2018 drilling suggested that the Super G vein is part of the much larger mineralized system referred to as the SLGS. From the integration of the historic and the 2018 drilling results, the SLGS is interpreted as an anastomosed network of mineralized structures in which gold mineralization is associated with mm-wide to cm-wide quartz stringers and veins with haloes of disseminated sulfides. Additional drilling is however necessary to confirm the interpreted geometry of the SLGS.

Narrow higher-grade zones enveloped by lower grade mineralization are observed in the main mineralized structures composing the SLGS. The SLGS has been so far defined by drilling over a strike length of >400 metres and to a vertical depth of 130 metres. The vein system remains open in both directions along strike and to depth. Surface mapping of gold mineralization in the area also suggests that additional mineralized structures are likely present in the hanging wall and footwall of the of the SLGS.

The SLGS was targeted based on the previous work of Freewest Resources Canada Ltd. in 2003 and diamond drilling by Entourage Metals Ltd. in 2011-12. Both exploration programs encountered multiple zones of mineralization in the area and the best diamond drilling intersections were obtained in the Super G vein, which returned assay results of 44.5 g/t Au (uncut) over a drilled width of 2.4 metres (BR-11-04¹) and 19.2 g/t Au over 2.0 metres (BR-11-01¹). From the 2018 drilling, the high-grade intersection in BR-2018-002 suggests an up-plunge continuity of the zone of high-grade mineralization between BR-11-01 and BR-11-04, whereas BR-2018-003 shows that the zone of mineralization remains open down-plunge.

The drilling program of 2018, combined with the metallic screen re-assaying of some of the mineralized zones in the Entourage drill holes (see CORE news release of September 19, 2018), confirmed that high-grade mineralization exists in many of the mineralized events/horizons composing the SLGS. For example, hole BR-2018-001 intersected significant mineralization in the Markes vein which contained 19.1 g/t Au over 2.0 metres. Metallic screen re-assaying also suggested that the grade of the zones could have been underestimated due to nugget effects in the previous exploration programs (CORE news release of September 19, 2018).

Photo of Figure 1 – Super G Drilling Cross Section is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/f292fc77-66d3-4ed2-9f54-87240eb4b4b7.

Photo of Figure 1 – Super G Drilling Plan Map is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/fbd9cbee-7058-48ef-8ac6-7b65280a11ae.

Drill hole BR-2018-001 targeted the Super G Vein approximately 25 metres south of and at the same elevation (180ASL) as hole BR-11-04. The hole deviated more than expected and eventually encountered the Super G Vein further to the south than planned. The vein consisted of several narrow 1-2-centimetre-wide veinlets containing 1% fine pyrite within sheared (chloritic-biotitic) mafic volcanics. Three hangingwall quartz veined zones very similar in appearance to the Super G Vein and part of the SLGS were encountered between 33.8 to 34.2 metres, between 46.8 to 47.8 metres and between 146.9 to 148.00 metres. In the vein between 46.8 to 47.8 metres, mineralization is hosted within sheared/brecciated, cherty interflow sediments containing up to 5% pyrite.

Hole BR-2018-002 targeted the Super G vein approximately 20-25 metres up-plunge of hole BR-11-04 and was encountered between 142.1 to 142.7 metres. Mineralization consisted of ~40% pyritic quartz seams and stringers containing numerous fine-grained specks of visible gold. A hangingwall quartz veined zone was observed between 137.1 to 138.3 metres. It was comprised of several narrow 1-2 centimetre quartz stringers which along with the surrounding wall rocks contained 1-2% pyrite.

BR-2018-003 was drilled from the same setup than BR-2018-002 to test the Super G vein down-dip of BR-11-004. The hole intersected three quartz veined zones of the SLGS. From 108.0 to 108.5 metres a weakly sheared zone of mafic volcanics containing several 1-5 cm quartz veinlets ran 7.0 g/t Au over 0.5 metres. A second vein between 120.1 to 120.6 metres was comprised of two main 5-15 centimetre wide quartz veins within intensely sheared and quartz flooded mafic volcanics. Both the vein material and wallrock contained up to 10-15% pyrite. Three fine specks of visible gold were observed. The Super G vein was observed between 130.5 and 131.5 metres and consisted of 30-40% quartz veins within sheared mafic volcanics. 1-2% pyrite along with trace amounts of galena and chalcopyrite were noted along with two small specks of visible gold.

Drill holes BR-2018-004 and BR-2018-005 were drilled on a setup representing a 50 metre step out from historic hole SL-04-03. Hole BR-2018-004 encountered the Super G Vein between 55.6 and 56.0 metres. Between 38.3 and 38.7 metres a zone of quartz veins was also noted including two clusters of very fined grained visible gold. In hole BR-2018-005 the Super G Vein was only weakly developed between 46.8 and 47.8 metres.

Wire Lake Gold System

Three diamond drill holes totaling 657.0 metres and targeting the Kakeeway and Lucky Seven zones were completed in the Wire Lake Gold System (“WLGS”).

Highlights

• Drilling in the Kakeeway Zone suggest an additional 525 metres strike-length extension to the Wire Lake Gold System;
• Drilling in the Lucky Seven Zone confirmed the extension of the WLGS to depth to at least ~300.0 metres down down-dip and that the mineralized system remains open to depth;
• Subsidiary zones of mineralization discovered in the footwall and hanging wall of the main zone of mineralization forming the Wire Lake Gold System.

*Assay results reported over intersection length.

Kakeeway Zone

The Kakeeway Zone is interpreted to represent the southern extension of the WLGS and was targeted with two holes, WL-2018-22 and WL-2018-23, spotted over an area where gold grades up 10.4 g/t were detected in grab samples. Gold mineralization observed in the samples was similar to gold mineralization in the main zone of the WLGS.

Although the grade of the drilling intersections were below the Company expectations, drilling validated that gold mineralization extends at depth and that it is similar in terms of alteration and mineralization to what is expected in the WLGS, supporting the strike length extension of the WLGS an additional 525 metres to the south. A better understanding on the geological controls over zones of higher-grade mineralization in the WLGS could help to find the vertical extension of the zones of higher-grade mineralization detected at surface in the Kakeeway area.

Lucky Seven Zone

A 390 metre hole (WL-2018-026) was drilled to test the Lucky Seven Zone, part of the WLGS approximately 100-150 metres down plunge of previous encouraging drill results. Drill intercepts within the Lucky Seven Zone include:  5.6 g/t Au over 3.1 metres and 4.3 g/t Au over 2.3 metres in historic hole 89-07 as well as drill hole WL-2017-011 completed by the Company in 2017 which contains 4.2 g/t Au over 5.0 metres (180.4-185.4 metres).

Hole BR-2018-026 was collared at an azimuth of 260 degrees. However, during drilling, the azimuth deviated more than expected with the hole ending up at an azimuth of 300 degrees and as a result, the hole missed its targeted intercept. The hole did intersect the Lucky Seven Zone between 261.3 and 280.7 metres and also intersected gold mineralization above and below the Lucky Seven Zone. The hole BR-2018-026 was successful in confirming that the WLGS continues to a depth of at least ~300 metres down down-dip and remains open at depth. This hole also suggests that additional zones of mineralization may exist in the WLGS in the hanging wall and footwall of the main zone of mineralization targeted by all the previous drilling programs in the WLGS.

North Ridge, Contact Lake and West Zone

Conceptual targets were tested on the property where the 2017 and 2018 mapping and sampling programs, and the re-interpretation of historic data, suggested that significant sub-surface gold mineralization could be present. These targets were outside the footprints of the Smoke Lake and Wire Lake Gold systems.

Highlights

• BR-2018-007 identified a wide gold anomaly in bedrock in the North Ridge gold system; and
• WL-2018-025 identified the possible extension of the West Zone 200 metres north of its intersection in the historic hole D89-18.

*Assay results reported over intersection length.

North Ridge

The North Ridge target consists of a network of quartz-tourmaline vein system hosted within the Beggs Lake Tonalite. Anomalous gold values (grabs include values up to 5.1 g/t Au) +/- chalcopyrite and molybdenum have been observed over a strike length of 200 plus metres and 28 metres in width.  Two diamond drill holes BR-2018-006 and 007 (216 metres) were drilled to further evaluate the area. Hole BR-2018-007 revealed a broad gold anomaly in bedrock that corresponds to the vertical projection of the vein system discovered at surface. In hole BR-2018-007, intermittent anomalous gold values (in excess of 100ppb gold) detected between 19.0 to 103.0 metres correspond to an intersection of 80 ppb gold over 84 metres.

Contact Lake

The Contact Lake Prospect is in the northeast portion of the project area approximately 8 kilometres northeast of the Wire Lake Gold Zone and 7 kilometres east of the Super G Vein. The mineralized zone observed in outcrop consists of several ~E-W parallel quartz veins over an apparent 2 to 3 metre width in which selective grab samples contained up to 11.9 g/t Au. One hole, CL-2018-001 was drilled to test the vertical extension of the mineralized zone, but no significant results were obtained in the hole.

West Zone

Two holes WL-2018-024 and 025 (321.0 metres) were drilled from the same setup to test a strong I.P. Chargeability Anomaly along trend of the West Zone. The West Zone, located approximately 500 metres west of the WLGS, was first discovered in 1989 when a single historic drill hole, 89-18, encountered two narrow intervals running 5.0 g/t Au over 0.9 metres and 2.3 g/t Au over 0.9 metres near the bottom of the hole.

Both holes encountered zones of low grade (WL-2018-025) to anomalous gold (WL-2018-024) mineralization in the projected extension of the West Zone. However the highlight of drilling in the West Zone was the intersection of disseminated to semi-massive sulfides containing up to 40% pyrrhotite, pyrite +/- chalcopyrite while averaging 5-10% sulfide. Base metal assays remain pending for these holes.

Photo of Figure 2 – Wire Lake Plan Map is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/dfaea0c0-8917-4321-a8d8-6095c34c588b.

Analytical methods and Quality Assurance/Quality Control (QA/QC”) Measures

Canadian Orebodies has implemented a quality-control program to comply with best practices in the collection and analysis of rock samples. All drill cores are BTW in size and assays are completed on sawed half-cores, with the second half of the core kept for future reference. Groups of samples are then placed into durable rice bags and then transported in security-sealed bags to Activation Laboratories Ltd. in Thunder Bay, ON for preparation and assay. Routine gold analyses are fire assay with an AA (atomic absorption) finish whereas samples with visible gold or rich in quartz veins and sulfides are analysed using 1-kilogram screen fire assay. The remaining coarse reject portions of the samples remain in storage if further work or verification is needed.

In addition to the standard quality control of the laboratory Canadian Orebodies has implemented a quality-control program to comply with best practices in the sampling and analysis of drill core. As part of its QA/QC program, the Company inserts external gold standards and blanks every 20 samples.

Qualified Person

This press release has been prepared under the supervision of Mr. Quentin Yarie (P.Geo.), who is a consultant to the Company and a “qualified person” (as such term is defined in National Instrument 43-101). Mr. Yarie has verified the technical data disclosed in this press release.

¹ Readers are cautioned that these assay results are historical in nature and have not been verified by a qualified person on behalf of the Company.

About Canadian Orebodies Inc.

Canadian Orebodies is a Canadian-based mineral exploration company with a portfolio of properties in Ontario and Nunavut. Canadian Orebodies is focused on generating shareholder value through the advancement of its two Hemlo area projects: Wire Lake and the North Limb.

For more information please contact:

Gordon McKinnon, President & CEO
Canadian Orebodies Inc.
(416) 644-1747
http://www.canadianorebodies.com

Forward-Looking Statements

Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties, including, but not limited to, exploration results, potential mineralization, statements relating to mineral resources, and the Company’s plans with respect to the exploration and development of its properties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of Canadian Orebodies, including, but not limited to, the impact of general economic conditions, industry conditions, volatility of commodity prices, risks associated with the uncertainty of exploration results and estimates, currency fluctuations, dependency upon regulatory approvals, the uncertainty of obtaining additional financing and exploration risk. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.

Highlights:

• New results returned 14.4 g/t Au over 1.5 m included within 5.7 g/t Au over 4.0 m were intersected within Zones 5, at a depth of 1 500 m (FIGURE).
• The results add to the intersections from holes CH17-46 and 47 reported on the FIGURE and demonstrate the spatial continuity of gold grades and widths within Zones 5 below the existing Mine infrastructure.
• The position of the intersections extends the potential for resources of Zones 5 over a length of 700 m below the past producing Chimo Mine.
• The new resource potential of Zones 5 is in addition to the resource potential leftover from mine closure as well as to the resource potential identified from Zone 6N1.

VAL D’OR, Quebec, Dec. 11, 2018 (GLOBE NEWSWIRE) — Cartier Resources Inc. (TSX-V: ECR) (“Cartier”) reports additional drill hole intersections grading 14.4 g/t Au over 1.5 m included within 5.7 g/t Au over 4.0 m.  The position of the intersections, intersected within Zones 5 at a depth of 1 500 m, extends the potential for resources of Zones 5 over a length of 700 m below the past producing Chimo Mine, situated 45 Km east of Val-d’Or.

The results add to the intersections from holes CH17-46 and 47 and demonstrate the spatial continuity of gold grades and widths within Zones 5 below the existing Mine infrastructure. The new resource potential of Zones 5 is in addition to the resource potential leftover from mine closure as well as to the resource potential identified from Zone 6N1. The latter, drilled to a depth of 1 100 m, shows excellent potential to extend as deep as Zones 5 while being laterally accessible at a distance of 80 m.

“On the FIGURE, the black surface represents roughly 300 000 ounces of gold mined“ commented Philippe Cloutier, President and CEO, adding, “the orange colored surface shows the new unmined resource potential of Zones 5.”

The details of the new results received from the laboratory are as follows:

Lengths are expressed along drill core axis.  The true thickness was not determined.

The Phase II drilling program currently underway is focused on the resource development potential of 7 peripheral gold zones to the main cluster of Zones 5. This program consists of 40 drill holes totaling 15,000 m.

The reader should view the YouTube VIDEO, available on Cartier’s website.  The 3D video helps visualize the different gold-bearing structures on the Chimo Mine property as well as key components that are the mine infrastructures, the gold-bearing zones, the gold intersection areas left unmined as well as the main targets of the ongoing drill program. The gold structure and zone 6N1 is illustrated.

Grants Stock Options
The Company announces that the Board of Directors granted, on December 10^th 2018, a total of 1,300,000 stock options to directors, officers, and one employee of the Company. Pursuant to the terms of the Company’s stock option plan, each option grants the holder of such option the right to purchase a common share of the Company at a price of $0.13 per share no later than December 9^th, 2023.

Chimo Mine Project Highlights

• The Chimo Mine produced 379,012 ounces of gold (MERN DV 85-05 to DV-97-01).
• Cartier owns 100% interests of the property.
• Year-round access by road, proximal to custom mills.
• Gold ore was mined intermittently from 14 zones by 3 different producers from 1964 to 1997 with a weighted average grade of 4.8 g/t Au.
• Mine infrastructure consists of a network of drifts distributed on 19 levels, 80 m to 870 m deep, connected by a 3-compartment shaft 965 m deep. The headframe and surface facilities were dismantled in 2008 but the electrical line and the sand pit are still present.
• A 105-hole drill program totaling 45,000 m has been underway since July 2017.
• Press releases on drill results from the Chimo Mine project since beginning of program:
  • November 27, 2018 – Cartier Cuts 6.6 g/t Au over 13.0 m Along Depth Extension…
  • November 12, 2018 – Cartier Continues to Widen Zones 5 below Chimo Mine…
  • October 25, 2018 –  Cartier Widens Zones 5 Below Chimo Mine With…
  • October 9, 2018 –   New Zone 6N1 Increases Potential at Chimo Mine
  • September 19, 2018 – Cartier Confirms Mineralization Continuity to a Depth of 1.6 km…
  • August 28, 2018 –   Cartier Ramps Up Expanded Chimo Mine Drill Program
  • June 28, 2018 – Cartier Cuts 86.1 g/t Au over 1.5 m at Chimo Mine
  • May 29, 2018 – Cartier Cuts 4.8 g/t Gold over 4.0 m, 525 m Below Chimo Mine
  • May 16, 2018 – Cartier Cuts 6.0 g/t Gold over 3.0 m and Expands Zone 6P2 …
  • March 27, 2018 – Cartier Cuts 8.5 g/t Gold over 3.5 m, 205 m Below Chimo Mine
  • March 20, 2018 – Cartier Cuts 7.6 g/t Gold over 5 m, 235 m Below Chimo Mine
  • March 6, 2018 – Cartier Cuts 6.5 g/t Au over 4.0 m, 165m below Zone 3 at Chimo Mine
  • February 14, 2018 – Cartier Cuts 4.7 g/t Au over 5.1 m Including 17.7 g/t Au over 0.5 m…
  • January 18, 2018 – Cartier Cuts 7.5 g/t Au Over 2.0 m and Extends 2B Zone …
  • November 17, 2017 – Cartier Intersects 9.4 g/t Au Over 6.5 Meters at Chimo Mine
  • November 7, 2017 – Cartier Intersects 7.6 g/t Au Over 3.3 Meters on Chimo …
  • October 24, 2017 – Cartier Intersects 7.3 g/t Au Over 2.2 Meters on Chimo, Extends 5M4..
  • January 18, 2017 – Cartier Intersects 8.2 g/t Au over 7.0 m on the Chimo Mine Property

About Cartier

Cartier Resources was founded in 2006 and is based out of Val-d’Or, Quebec.  Quebec has consistently ranked high as one of the best mining jurisdictions in the world primarily based on its mineral rich geology, attractive tax environment, and pro-mining government.  In 2017, the Fraser Institute again ranked Quebec as one of the best jurisdictions in the world for investment attractiveness.

Cartier Investment Highlights

• The Corporation has a strong cash position with over $8.5M in the bank and important corporate and institutional investors including Agnico Eagle Mines, JP Morgan UK and the Quebec investment funds.
• Cartier’s strategy is to focus on gold projects that are relatively advanced with significant potential for resource expansion laterally and at depth.
• The Corporation holds a portfolio of advanced stage exploration projects in the Abitibi Greenstone Belt in Quebec – one of the most prolific mining regions in the world – the commodity focus is gold.
• The Corporation is focused on advancing its four key projects through drill programs.  All of these projects were acquired at very reasonable valuations over the past few years.  All of them are drill-ready with targets identified similar to the deposits that have been outlined on each project.
• The Chimo Mine project is a historic gold producer. Three other projects, namely Wilson, Benoist and Fenton, hold historic resource estimates.
• In 2018, an ongoing program of 105 holes totaling 45,000 m aims to enhance the resource development potential at Chimo Mine.

Quality Assurance / Quality Control

All lengths, mentioned in this press release, were measured along the drill core. The NQ core samples are crushed up to 80% passing 8 mesh sieves and then pulverized up to 90% passing a 200-mesh sieve. Cartier inserts 5% of the number of samples in the form of certified standards and another 5% in the form of sterile samples to ensure quality control. The samples are analyzed at the Techni-Lab laboratory (Actlabs), located in Ste-Germaine-Boulé, Quebec. The 50 g pulps are analyzed by fire assay and atomic absorption. For samples containing visible gold, 1,000 g of rock are directly analyzed by the “Metallic Sieve” method.

The scientific and/or technical information presented in this press release has been reviewed and approved by Mr. Gaétan Lavallière, P. Geo., Ph. D. and Vice President for Cartier Resources.  Mr. Lavallière is a qualified person as defined by National Instrument 43-101.

For more information, please contact:
Philippe Cloutier, P.Geo.
President and CEO
Telephone: 819 856-0512
philippe.cloutier@ressourcescartier.com
www.ressourcescartier.com

Neither the TSX Venture Exchange nor its regulatory services provider accepts responsibility for the adequacy or accuracy of this press release.

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/e908fc5d-c2bd-4105-8d37-349c10ac8054

Skyharbour Resources Ltd. (TSX-V: SYH) (OTCQB: SYHBF) (Frankfurt: SC1P) (the “Company”) announces that it’s option partner, Azincourt Energy Corp. (“Azincourt”) has provided an update regarding its winter work program at the East Preston uranium project located in the southwestern Athabasca Basin, Saskatchewan, Canada.

Proposed VTEM Survey grid

Preston Uranium Project Map:
http://skyharbourltd.com/_resources/maps/SYH-Patterson-Lake.pdf

Azincourt has engaged Geotech Ltd to conduct a helicopter-borne Versatile Time-Domain Electromagnetic (VTEM™ Max) and Magnetic survey over the southeastern portion of the East Preston Project to complete survey coverage over the entire project area.

The planned survey will consist of 498 line-km with 300m line spacing and 1,000m tie-line spacing – identical parameters to the previous VTEM™ Max survey, and ties directly into the previous flight lines (Figure 1). Flight lines are oriented NW-SE, perpendicular to the NE-SW trending structural and conductor trends of the basement rocks at East Preston.

Geotech Ltd., the sole provider of the VTEM™ Max platform, has a system currently active in Saskatchewan and plans to commence the East Preston survey in mid-December. Weather permitting, the survey is expected to require 5-7 days and will be completed by year end.

Winter 2017-18 VTEM Survey results

Figure 1 can be viewed at http://www.globenewswire.com/NewsRoom/AttachmentNg/b6f93b7e-f76a-44d5-b4cc-f145920b3364

Figure 2 can be viewed at http://www.globenewswire.com/NewsRoom/AttachmentNg/0d22d18b-f1c5-42fe-ab51-9e43c1385f05

Azincourt has applied for drill permits at East Preston and upon receipt is planning an approximate 10+ hole, 2000-2500-meter diamond drill program of inclined drill holes to test the structurally-controlled basement uranium deposit model.  Drill targets have been prioritized based on stacking of airborne and ground electromagnetic and ground gravity geophysical data interpretation.

Historical Work

Azincourt is currently earning towards 70% interest in the 25,000+ hectare East Preston project as part of a joint venture agreement with Skyharbour Resources, and Clean Commodities Corp.  Extensive regional exploration work at East Preston was completed in 2013-14, including airborne electromagnetic (VTEM), magnetic and radiometric surveys. Three prospective conductive, low magnetic signature corridors have been discovered on the property. The three distinct corridors have a total strike length of over 25 km, each with multiple EM conductor trends identified.  Ground prospecting and sampling work completed to date have identified outcrop, soil, biogeochemical and radon anomalies, which are key pathfinder elements for unconformity uranium deposit discovery.

Only one of the corridors has been drill tested to date, successfully intersecting structurally disrupted graphitic metasedimentary rocks and anomalous pathfinder elements (including uranium) at the Swoosh S6 target using a combination of Horizontal Loop EM (HLEM) and gravity as primary targeting tools.

Azincourt Geophysical Work – Winter 2018

Azincourt completed a winter geophysical exploration program in January-February 2018 that generated a significant amount of new drill targets within the previously untested corridors while refining additional targets near the previous drilling along the Swoosh corridor.

The work included 51.5 km of grid preparation (line cutting/picketing), 46.1 km of horizontal loop electromagnetic (HLEM), and 40.6 km of ground gravity along the previously known airborne helicopter VTEM conductive trends.

Ground-truthing work confirmed the airborne conductive trends and more accurately located the conductor axes for future drill testing. The gravity survey identified areas along the conductors with a gravity low signature, which is often associated with alteration, fault/structural disruption and potentially, uranium mineralization. The combination/stacking of positive features will assist prioritizing targets for testing first.

The Main Grid shows multiple long linear conductors with flexural changes in orientation and offsets breaks in the vicinity of interpreted fault lineaments – classic targets for basement-hosted unconformity uranium deposits. These are not just simple basement conductors; they are clearly upgraded/enhanced prospectivity targets because of the structural complexity.

Targets

The targets are basement-hosted unconformity related uranium deposits similar to NexGen’s Arrow deposit and Cameco’s Eagle Point mine.  East Preston is near the southern edge of the western Athabasca Basin, where targets are in a near surface environment without Athabasca sandstone cover – therefore they are relatively shallow targets but can have great depth extent when discovered.  The project ground is located along a parallel conductive trend between the PLS-Arrow trend and Cameco’s Centennial deposit (Virgin River-Dufferin Lake trend).

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 Qualified Person.

Option Agreement

Skyharbour and Clean Commodities entered into an Option Agreement (the “Agreement”) with Azincourt whereby Azincourt has an earn-in option to acquire a 70% working interest in a portion of the Preston Uranium Project known as the East Preston Property. Under the Agreement, Azincourt has issued 4,500,000 listed common shares and will contribute cash and exploration expenditure consideration totaling up to CAD $3,500,000 in exchange for up to 70% of the applicable property area over three years. Of the $3,500,000 in project consideration, $1,000,000 will be in cash payments to Skyharbour and Clean Commodities, as well as $2,500,000 in exploration expenditures over the three-year period. Azincourt has issued Skyharbour and Clean Commodities each 2,250,000 common shares upfront for a total issuance of 4,500,000 common shares.

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 five drill-ready projects. In July 2016, Skyharbour acquired an option from Denison Mines, a large strategic shareholder of the Company, to acquire 100% of the Moore Uranium Project which is located approx. 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 an 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 project also hosts a high-grade surface showing with up to 68% U₃O₈ in grab samples from a massive pitchblende vein, the source of which has yet to be discovered. 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/SYH_Landpackage_2014.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:
Nick Findler
Corporate Development and Communications
Skyharbour Resources Ltd.
Telephone: 604-687-3850
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, 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.