Skyharbour Resources Ltd. announced that it has entered into an option agreement with Black Shield Metals Corp. which provides Black Shield an earn-in option to acquire up to a 75% interest in the Mann Lake Uranium Project located in the Athabasca Basin, Northern Saskatchewan, Canada. Under the Option Agreement, Black Shield will contribute cash and exploration expenditure consideration totaling CAD 4,850,000 over a three-year period. Of the Project Consideration, $850,000 will be in cash payments to Skyharbour and $4,000,000 will be in exploration expenditures on the project. Black Shield will also issue to Skyharbour the equivalent value of CAD 1,750,000 in shares of the company over the three-year earn-in period to complete the earn-in. Skyharbour owns a 100% interest in the 3,473 hectare (8,582 acre) Mann Lake Uranium Project located in the eastern Athabasca Basin in northern Saskatchewan. It is strategically located 25 km southwest of the McArthur River Mine, the largest high-grade uranium deposit in the world, and 15 km to the northeast of Cameco's Millennium uranium deposit. The Mann Lake project is also adjacent to the Mann Lake Joint Venture operated by Cameco (52.5%) with partners Denison Mines (30%) and Orano (17.5%). Denison Mines acquired International Enexco and its 30% interest in the project after a 2014 winter drill program discovered high-grade, basement-hosted uranium mineralization at this adjacent project. Skyharbour carried out a ground-based EM survey in 2014 focused on an area where a 2 km long aeromagnetic low coincided with basement conductors interpreted from earlier EM surveys. This program successfully confirmed the presence of a broad, NE-SW trending corridor of conductive basement rocks which are likely graphitic metapelites. Under the terms of the Option Agreement, the Black Shield Metals Corp. is committed to the following: paying to Skyharbour a total of CAD 850,000 cash and issuing Skyharbour the total number of common shares (“Shares”) of Black Shield equivalent to a value of CAD 1,750,000 based on the 20 day VWAP at the time of issuance; incur a minimum of $4,000,000 in exploration expenditures on the Property.