Overview
- Skyharbour signed a definitive purchase agreement to acquire Rio Tinto Exploration Canada’s approximately 42.3% interest in the Russell Lake uranium project.
- The consideration totals C$10 million, comprising a C$2 million deposit due within five business days and a C$8 million payment at closing.
- RTEC will receive a 0.25% net smelter returns royalty on Russell Lake, with several third‑party royalties remaining in place.
- Completion would raise Skyharbour’s interest in Russell Lake to 100%, and the company already operates the project.
- Russell Lake spans 73,314 hectares between Cameco’s Key Lake and McArthur River and, together with Moore, creates a nearly contiguous 109,019‑hectare claim block.