Azincourt Energy Identifies Uranium Enrichment At The East Preston Project |

AZINCOURT ENERGY CORP. ("Azincourt" or the "Company") (TSX.V: AAZ, OTCQB: AZURF) is pleased to present the analytical results from the Winter 2022 drill program at the East Preston uranium project, located in the western Athabasca Basin, Saskatchewan, Canada.

Drilling for the 2022 winter season at the East Preston Project resulted in 5,004.5 meters completed in 19 drill holes between January and March of 2022. Preliminary results of this program were reported in a news release dated March 29 th , 2022. Drilling during the 2022 program focused on the A-G and K-H-Q trends and commenced in the G-Zone where the 2021 drill program ended (Figure 3).

A total of 420 samples were collected throughout the program and sent to the Geoanalytical Laboratory at the Saskatchewan Research Council in Saskatoon, Saskatchewan for analysis. After unexpected delays at the lab, results were finally received by TerraLogic Exploration in late June and immediately underwent a thorough quality control assessment prior to being accepted.

"The analysis from drill core is encouraging," said VP, Exploration, Trevor Perkins. "The uranium enrichment within the alteration zones is a sign that uranium bearing fluids were present within the alteration system. We have the alteration system, and uranium moving around within it. The next step is identifying the areas of concentration within the system where significant uranium is dropping out," continued Mr. Perkins.

An analysis of the results shows uranium enrichment within the previously identified alteration zones along the G, K, and H target zones (Figure 2). Uranium enrichment is identified as uranium (U) values and a uranium/thorium ratio (U/Th) above what would normally be expected in the given rock type or area.

Along the northeast trending G-Zone, extensive hydrothermal alteration, and evidence of east-west cross-cutting structures were highlighted in holes EP0030 and EP0037. The primary rock types in the alteration zone are granodiorite and diorite gneiss with average expected values of 2-3 ppm U and U/Th ratios of 0.25-0.3. A sample from Hole EP0037 returned 14.6 ppm U and a U/Th ratio of 1.5, five times the expected values. A sample from EP0032 returned 19.5 ppm U and a U/Th ratio of 0.8.

The H-Zone covers a change in orientation of the structural and conductive trend from north south to southwest trending and contains a thick zone of hydrothermal alteration and an intense graphitic fault and mylonite zone. A sample from EP0041 retuned 12.5 ppm U and a 0.5 U/Th ratio within a mylonite in the fault zone.

Along the north-south trending K-Zone extensive zones of hydrothermal hematite have been intersected in all holes, with clay alteration also being present. A zone of localized elevated radioactivity more than 10 times background values was identified in EP0035 (Azincourt Energy news release dated March 1 st , 2022). The rock type in this zone is gabbro with average expected values of 0.5-1.5 ppm U and U/Th ratios of 0.25-0.5. A sample from this zone in EP0035 returned 5.4 ppm U and a 1.2 U/Th ratio.

The company considers sample analysis results to be an important indicator that uranium bearing fluids were present within the alteration systems identified. Continued testing of the alteration system to identify the extents of the alteration and areas of fluid concentration and strong uranium enrichment will be the aim of follow-up programs.

"The results of this drill program continue to support our exploration model at East Preston," said President and CEO, Alex Klenman. "The alteration zones are considerable in both size and scope. The results now confirm uranium is present within these alteration zones, which is a significant and critical step in the exploration process. We are eager to get the next round of drilling completed as the knowledge gained from this winter's program will aid immensely in vectoring toward areas of more significant mineralization," continued Mr. Klenman.

A thorough review and interpretation of the results of the winter 2022 program at East Preston is underway and preparation for an extensive follow up program in the winter of 2022-2023 is planned to continue evaluating alteration and structure on the G-, K-, and H-Zones as well as get a first look at the Q-Zone.

The Company is also planning to complete its first drill program at the 13,711-ha Hatchet Lake project, located along the Wollaston Domain on the northeastern side of the Athabasca Basin, in September and October of this year. This well known structural corridor hosts the majority of known high-grade uranium deposits and all of Canada's operating uranium mines. High-grade mineralization, up to 2.43% U308, has already been established at Hatchet Lake. Azincourt is earning up to 75% interest in the project as part of an earn-in agreement with ValOre Metals. The permitting and consultation process is in progress, and updates will be provided over the next several weeks.

"The next eight to ten months will be busy for Azincourt as we follow up at East Preston, and we also begin drilling at Hatchet Lake, which we plan to drill as early as this fall," said Mr. Klenman. "Despite the recent decline in overall market sentiment, we're in an excellent position. Our treasury is extremely strong, and we're fully funded to execute all of our exploration plans over the next year, and beyond. We're going to be very active and plan to be aggressive with the drills," continued Mr. Klenman.

The Company will be conducting a live webinar, in conjunction with Red Cloud Securities, to discuss the drill results in more detail, today Wednesday, July 13, at 11am PST/2pm EST. We invite readers to register and attend, please follow this URL to participate:

The primary target area on the East Preston Project is the conductive corridors from the A-Zone through to the G-Zone (A-G Trend) and the K-Zone through to the H and Q-Zones (K-H-Q Trend) (Figures 1 and 3). The selection of these trends is based on a compilation of results from the 2018 through 2020 ground-based EM and gravity surveys, property wide VTEM and magnetic surveys, and the 2019 through 2022 drill programs, the 2020 HLEM survey indicates multiple prospective conductors and structural complexity along these corridors.

Drilling programs to date have confirmed that identified geophysical conductors comprise structurally disrupted zones that are host to accumulations of graphite, sulphides, and carbonates. Hydrothermal alteration, anomalous radioactivity, and elevated uranium have been demonstrated to exist within these structurally disrupted conductor zones.

While the A-G and K-H-Q trends are the primary focus, many additional trends and zones exist to the east and west of the primary trends on the East Preston property (Figure 1). These additional target areas will require ground geophysics to constrain conductor locations and drilling to properly evaluate their potential.

The permitting process is underway to obtain authorization for the winter 2022-2023 drill program. Azincourt Energy continues to be engaged in regular meetings with the Clearwater River Dene Nation and other rights holders to ensure that concerns of the local communities are addressed. Azincourt looks forward to a continued close working relationship with CRDN and other rights holders to ensure that any potential impacts and concerns are addressed and that the communities can benefit from activities in the area through support of local business, employment opportunities, and sponsorship of select community programs and initiatives. Several members of the Clearwater River Dene Nation were directly employed on site or to provide support and services to keep the camp and program running.

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Figure 1: Target corridors at the East Preston Uranium Project, Western Athabasca Basin Saskatchewan

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Figure 2: 2022 Drill Holes and Target areas at the East Preston Uranium Project

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Figure 3: Project Location – Western Athabasca Basin, Saskatchewan, Canada

Azincourt controls a majority 72.8% interest in the 25,000+ hectare East Preston project as part of a joint venture agreement with Skyharbour Resources (TSX.V: SYH), and Dixie Gold. 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 has identified outcrop, soil, biogeochemical and radon anomalies, which are key pathfinder elements for unconformity uranium deposit discovery.

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).

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 on behalf of the company by C. Trevor Perkins, P.Geo., Vice President, Exploration of Azincourt Energy, and a Qualified Person as defined by National Instrument 43-101.

Azincourt Energy is a Canadian-based resource company specializing in the strategic acquisition, exploration, and development of alternative energy/fuel projects, including uranium, lithium, and other critical clean energy elements. The Company is currently active at its joint venture East Preston uranium project in the Athabasca Basin, Saskatchewan, Canada, and the Escalera Group uranium-lithium project located on the Picotani Plateau in southeastern Peru.

ON BEHALF OF THE BOARD OF AZINCOURT ENERGY CORP.

"Alex Klenman" Alex Klenman, President & CEO

Neither the 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 press release includes "forward-looking statements", including forecasts, estimates, expectations and objectives for future operations that are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of Azincourt. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed, and actual future results may vary materially.

For further information please contact:

Alex Klenman, President & CEO Tel: 604-638-8063 info@azincourtenergy.com

Azincourt Energy Corp. 1430 – 800 West Pender Street Vancouver, BC V6C 2V6 www.azincourtenergy.com

News Provided by GlobeNewswire via QuoteMedia

Industry experts expect uranium prices to rise and the nuclear industry resurgence to start accelerating as uranium continues to play an integral role in the generation of clean, base-load, affordable and reliable energy globally. Despite a predicted demand for uranium topping 185 million pounds in 2021, a major supply-side response has played out in recent years and supply deficits have continued to grow. As uranium is needed for nuclear power, exploration and development companies focused on uranium-based assets could benefit significantly in the coming years as renewed investor interest comes back to the sector.

Skyharbour Resources (TSXV:SYH,OTCQB:SYHBF,FWB:SC1P) is a mineral exploration company that holds an extensive portfolio of uranium and thorium projects in Canada’s Athabasca Basin and is well positioned to benefit from improving uranium market fundamentals with 450,000 hectares of drill-ready land consisting a total of fifteen projects, ten of which are drill ready. The Company 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. Adjacent to the Moore Uranium Project is Skyharbour’s recently optioned Russell Lake Uranium Project from Rio Tinto, which hosts historical high-grade drill intercepts over a large property area with robust exploration upside potential. Skyharbour has the Option to acquire an initial 51% and up to 100% of Rio Tinto’s 73,294 ha Russell Lake Uranium Property strategically located in the central core of the Eastern Athabasca Basin of northern Saskatchewan. Skyharbour is actively advancing and drilling these projects with planned and ongoing exploration programs.

In addition to offering investors exposure to high-grade uranium discovery potential at its flagship Moore Project, Skyharbour leverages its property portfolio using the prospect generator model and has partner companies fund exploration and development at its other projects. It is a cost-effective model that facilitates large exploration programs without substantial equity dilution.

The Athabasca Basin hosts the highest-grade uranium deposits in the world and has historically accounted for 15-20% of annual global uranium production. Using modern exploration techniques and methodologies, Skyharbour is looking to emulate recent discovery success stories that have created significant returns for shareholders including those made by NexGen Energy (TSX:NXE), Fission Uranium (TSX:FCU), Alpha Minerals, Denison Mines (TSX:DML), and Hathor Exploration.

In September 2021, Skyharbour announced the initial set of diamond drill results from its 2021 summer diamond drilling program at its 100% owned, 35,705 hectare Moore Uranium Project. The summer/fall 2021 program included 6,598m in 19 holes and returned highlights of 2.54% U3O8 over 6.0m including 6.80% U3O8 over 2.0m in basement rocks at Maverick East Zone as well as 0.54% U3O8 over 19.5 metres including 4.0 metres of 2.07% U3O8.

The Company expects major developments and extensive exploration to be carried out in 2022, with a winter drill program of a minimum of 2500m recently commenced. . “Outside of our Moore project, Skyharbour’s partner companies have been advancing some of our other projects,” Skyharbour CEO Jordan Trimble commented.

Currently, Skyharbour has joint venture agreements with Orano Canada Inc. (industry-leader and France’s largest uranium mining and nuclear fuel cycle company) and Azincourt Energy Corp. [AAZ-TSXV; AZURF-OTC] on the Preston and East Preston Projects, respectively, which collectively cover one of the largest land positions in the Paterson Lake region. Orano recently became a 51% joint venture partner with Skyharbour and Dixie Gold after completing an earn-in option at the 49,645-hectare Preston Project by funding exploration and making cash payments. Meanwhile, Azincourt has recently earned a 70% stake in the 20,647 hectare East Preston Project by issuing shares, spending $2.5 million on exploration, and paying $1 million in cash to Skyharbour and Dixie Gold. Azincourt Energy recently commenced its 2022 exploration program at the East Preston Uranium project which will consist of a minimum of 6,000m of drilling in 30-35 drill holes.

Skyharbour has also recently signed a definitive agreement with ASX-listed Valor Resources on its Hook Lake Uranium Project (previously called North Falcon Point). Under the agreement, Valor can earn-in 80% of the project by spending $3.5 million on exploration and making $475,000 in cash payments over three years, as well as issuing 233,333,333 million shares to Skyharbour. Valor Resources commenced a 2,500m diamond drilling program at the Hook Lake Uranium Project and scheduled an airborne gravity survey to commence in April 2022. In addition, Skyharbour has an active partnership with CSE-listed Basin Uranium Corp. on the Mann Lake Uranium Project whereby Basin Uranium can earn-in 75% of the project through $4,000,000 in exploration expenditures, $850,000 in cash payments as well as share issuances over three years; and CSE-listed Medaro Mining Corp. on the Yurchison Project whereby Medaro can earn-in an initial 70% of the project through $5,000,000 in exploration expenditures, $800,000 in cash payments as well as share issuances over three years followed by the option to acquire the remaining 30% of the project through a payment of $7,500,000 in cash and $7,500,000 worth of shares.

A world-class management and geological team lead Skyharbour Resource. The team brings years of expertise in uranium exploration, energy industries, corporate finance and capital markets. The company is well positioned to capitalize on the uranium market’s resurgence with strong potential for resource growth and new discoveries at its project base. 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 owns 100% of the 35,705 hectare Moore Uranium Project located 42 kilometres northeast of the Key Lake mill, approx. 15 kilometres east of Denison’s Wheeler River project, and 39 kilometres south of Cameco’s McArthur River mine. Unconformity-hosted uranium mineralization was discovered on the property at the Maverick Zone in the early 2000’s at relatively shallow depths. Skyharbour has carried out several drill programs with multiple holes intersecting high grade uranium mineralization over the 4.7 km long Maverick corridor. Drill results include 20.8% U3O8 over 1.5m at 264m depth in hole ML-199, 9.12% U3O8 over 1.4m at 278m in hole ML-202 and 5.29% over 2.5m U3O8 at 279m depth in hole ML-200. Hole ML-202 represents a new high-grade discovery and illustrates the strong discovery potential of additional high grade lenses along strike. The Company is planning additional drill programs to expand the known high grade Maverick Zone and to test basement-hosted targets as well as regional targets.

The depth to the unconformity on the property is relatively shallow, with the thickness of the sandstone cover varying from less than 125 metres on the property’s eastern side to over 325 metres on the property’s northwestern side. Basement rocks are predominantly paragneisses belonging to the Wollaston Domain. A large mafic sill known as the “Moore Lake complex” partially overlies a portion of the eastern side of the property. The property has been the subject of extensive historical exploration with over $45 million in expenditures, and over 150,000 metres of diamond drilling completed in over 390 drill holes. The project is accessible via ice roads from the McArthur River mine haul road and float or ski equipped aircraft.

The next steps for the project include the commencement of a 2022 winter drilling program of 2500m consisting of 7 to 9 drill holes.

The drilling will focus on both unconformity and basement-hosted targets along the Maverick structural corridor and new targets identified in the Grid Nineteen area. Skyharbour specifically plans to expand the high-grade mineralization discovered recently at the Maverick East zone, along strike, down plunge and at depth with a focus on basement-hosted mineralization. Other targets along the 4.7 km long Maverick structural corridor will be investigated, including the Esker target, again with a focus on basement-hosted mineralization. All 2022 exploration work is fully funded and appropriately permitted.

The Russell Lake Project is a large, advanced-stage uranium exploration property totalling 73,294 hectares strategically located between Cameco’s Key Lake and McArthur River Projects and adjoining Denison’s Wheeler River Project to the west and Skyharbour’s Moore Uranium Project to the east. Highway 914, which services the McArthur River mine, runs through the western extent of the Property and greatly enhances accessibility. Similarly, a high-voltage powerline situated alongside Highway 914. Skyharbour’s acquisition of Russell Lake creates a large, nearly contiguous block of highly prospective uranium claims totalling 108,999 hectares between the Russell Lake and the Moore uranium projects.

There has been a meaningful amount of historical exploration carried out at Russell Lake but with most of it conducted prior to 2010. The Property has been the subject of over 95,000 metres of drilling in over 230 drill holes. The Property’s claims are in good standing for 2-22 years with assessment credits built-up from previous programs.

Several notable exploration targets exist on the property including the Grayling Zone, the M-Zone Extension target, the Little Man Lake target, the Christie Lake target, and the Fox Lake Trail target. More than 35 kilometres of largely untested prospective conductors in areas of low magnetic intensity exist on the Property as well.

Skyharbour, as operator, can earn an initial 51% interest in the Property by paying CAD $508,200 in cash, issuing 3,584,014 common shares to RTEC, and funding CAD $5,717,250 in exploration on the Project, inclusive of a 10% management fee to Skyharbour, over a period of 3 years.

Skyharbour has a second option to earn an additional 19% interest for a total of 70%, and a further possible option to obtain the remaining 30% interest in the Project for an undivided 100% ownership interest.

The Preston project is a large 49,635-hectare (122,651 acre) land position strategically located to the south of and proximal to NexGen Energy’s Rook 1 project host to the high-grade Arrow deposit, as well as proximal to Fission Uranium’s (TSX: FCU) Patterson Lake South (“PLS”) project host to the high-grade Triple R deposit. Uranium mineralization in the Patterson Lake area bears a number of similarities to the high-grade uranium deposits in the Eastern part of the Athabasca Basin like those at the Cigar Lake and McArthur River mines. The mineralization occurs in structurally disrupted and strongly clay altered, commonly graphitic pelites and metapelites with narrow felsic segregations/pegmatites.

The Preston Uranium Property is bisected by the all-weather Highway 955, which runs north through the PLS discovery being advanced by Fission through to the former Cluff Lake uranium mine. Over $7 million in historical exploration expenditures on the Preston Project have been incurred to date. This exploration has consisted of ground gravity, airborne and ground electromagnetics, radon, soil, silt, biogeochem, lake sediment, and geological mapping surveys, as well as several exploratory drill programs. Several high-priority drill target areas associated with multiple prospective exploration corridors have been successfully delineated through this methodical, multiphased exploration initiative, which has culminated in an extensive, proprietary geological database for the project area.

Orano Canada has now earned 51% of the project through $4.8 million in exploration expenditures as well as cash payments. Skyharbour retains a 24.5% minority interest in the project.

The East Preston project is a large 20,647 hectare (51,020 acre) land position strategically located proximal to NexGen Energy’s Rook 1 project host to the high grade Arrow deposit, as well as proximal to Fission Uranium’s (TSX: FCU) Patterson Lake South (“PLS”) project host to the high grade Triple R deposit. Uranium mineralization in the Patterson Lake area bears a number of similarities to the high-grade uranium deposits in the Eastern part of the Athabasca Basin like those at the Cigar Lake and McArthur River mines. The mineralization occurs in structurally disrupted and strongly clay altered, commonly graphitic pelites and metapelites with narrow felsic segregations/pegmatites.

Over $5 million in historical exploration expenditures on the Preston Uranium Project have been incurred to date. This exploration has consisted of ground gravity, airborne and ground electromagnetics, radon, soil, silt, biogeochem, lake sediment, and geological mapping surveys, as well as several exploratory drill programs. Several high-priority drill target areas associated with multiple prospective exploration corridors have been successfully delineated through this methodical, multiphased exploration initiative, which has culminated in an extensive, proprietary geological database for the project area.

Azincourt Energy has now earned 70% of the project by issuing shares, spending $2.5 million on exploration, and paying $1 million in cash to Skyharbour and Dixie Gold. Skyharbour retains a 15% minority interest in the project.

The North Falcon Point (Hook Lake) project consists of 16 contiguous mineral claims totaling 25,847 hectares. The property has seen extensive historical work, which advantageously allows for fast-tracked exploration. Uranium mineralization discovered to date at the Hook Lake Project is shallow and is characterized by structurally controlled mineralization at the Hook Lake, West Way and Nob Hill target zones. The primary Hook Lake target area at the property’s north end has returned high-grade uranium grab samples of up to 68% uranium in massive pitchblende veining at surface level.

Skyharbour recently announced a Definitive Agreement signed with ASX-listed Valor Resources whereby Valor can earn-in 80% of the project by contributing cash and exploration expenditures consideration totaling C$3,975,000 over a three-year period ($475,000 will be in cash payments to Skyharbour as well as $3,500,000 in exploration expenditures) as well as issuing a total of 233,333,333 shares to Skyharbour.

The project area is in close proximity to 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 are already underway. An initial phase of exploration work by Valor Resources includes further bio-geochemical surveys, detailed UAV magnetics, ground gravity and resistivity surveys as well as detailed geological and structural mapping. A 2500m diamond drilling program has commenced at the project to test the extent of uranium mineralisation at the S-Zone which included up to 59.2% U3O8 in rock chip samples at surface.

The South Falcon project consists of 21 claims totaling 44,470 hectares and is strategically located 55 kilometers east of the Key Lake mine. In March of 2015, Skyharbour released an updated NI 43-101 mineral resource estimate for the Fraser Lakes Zone B deposit at south end of the property: 6,960,681 pounds U3O8 inferred at average grade of 0.03% U3O8 and 5,339,219 pounds ThO2 inferred at average grade of 0.023% ThO2 within 10,354,926 tonnes (cutoff grade of 0.01% U3O8). The deposit has geological and geochemical features similar to basement-hosted deposits in the Athabasca Basin U3O8 such as Eagle Point, Millennium, P-Patch and Roughrider. Exploration potential of the 6 by 7 kilometre Fraser Lakes target area is considered exceptional, including resource expansion potential along strike and at depth at the Zone B uranium deposit.

Drilling to date at South Falcon Point totals over 22,000 meters across 110 holes with over C$15 million spent on exploration across its six near-surface targets. Skyharbour carried out a drill program in 2015 that returned 0.172% U3O8 over 2.5 metres and the findings point to increasing uranium grades at depth beneath the deposit. Recommended future work includes defining additional resources at the Fraser Lakes Zone B deposit area and further interpretation of geochemical and assay data following geological analysis.

The Yurchison Project consists of 11 claims totalling 55,934 ha in the Wollaston Domain of northern Saskatchewan, Canada. This contiguous set of claims covers an extensive package of Wollaston Supergroup metasediments in an area known for its base metal potential. The northeastern half of the project falls within the Courtenay Lake-Cairns Lake fold belt, which contains numerous Pb-Zn-Ag showings while the remainder is along trend to the north-northeast of the Janice Lake Cu deposit and numerous other base metal showings in the “Wollaston Copperbelt”. Access to the area is enhanced by Highway 905 which transects the property near Courtney Lake. A planned all-weather road between Highway 905 and the communities of Wollaston Lake and Hatchet Lake is proposed adjacent to the northeastern section of the claims. It is unknown when the project will be completed, but once in place it will significantly improve logistics for the project. Grid power is used to service a motel, restaurant and gas bar is located at km 147 of Highway 905, a few km north of Courtenay Lake.

In November 2021, Skyharbour signed an option agreement with Medaro Mining Corp. which provides Medaro an earn-in option to acquire an initial 70% interest and up to a 100% interest in the Yurchison Uranium Property.

Pursuant to the agreement, Medaro may acquire an initial 70% interest in the Property by issuing common shares of Medaro having an aggregate value of CAD $3,000,000; making aggregate cash payments of CAD $800,000; and incurring an aggregate of CAD $5,000,000 in exploration expenditures on the Property over a three year period.

The 3,473 hectare (8,582 acre) Mann Lake Uranium Project is 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 along strike of Cameco's Millennium uranium deposit. In October, 2021 the Company entered into an option agreement with Basin Uranium Corp which provides them an earn-in option to acquire up to a 75% interest in the Mann Lake Uranium Project.

Under the option agreement, Basin Uranium Corp will contribute cash and exploration expenditure consideration totaling CAD $4,850,000 over a three-year period (“Project Consideration”). 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. Basin Uranium Corp 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.

Jordan Trimble is an entrepreneur and has worked in the resource industry in various roles with numerous companies specializing in management, corporate finance and strategy, shareholder communications, deal structuring and capital raising. Previous to Skyharbour, he was the corporate development manager for Bayfield Ventures, a gold company with projects in Ontario, which New Gold successfully acquired in 2014. Throughout his career, Trimble has founded and helped manage several public and private companies and has been instrumental in raising substantial capital for mining companies with his extensive network of institutional and retail investors. He is a frequent speaker at resource and mining conferences globally and has appeared on various media outlets, including BNN and the Financial Post. Mr. Trimble holds a Bachelor of Science Degree from the University of British Columbia and he is a CFA Charterholder currently serving as a director of the CFA Society Vancouver.

Jim Pettit is currently serving as a director on the boards of several public resource companies. He offers over 30 years of experience within the industry specializing in finance, corporate governance, management and compliance. Pettit specializes in the early stage development of private and public companies. His background over the past 30 years has been focused primarily within the resource sector and he was previously chairman and CEO of Bayfield Ventures, which was sold to New Gold in 2014.

Dr. Ramcharan has an extensive background in corporate development, mining and exploration, project evaluation, and investment banking spanning over twenty years. Previously, as Manager of Corporate Development for IAMGOLD, Dr. Ramcharan was involved in raising over $600 million in equity financings and worked on project acquisitions totalling over $800 million. Prior to that, he was at SRK Consulting for several years and worked with uranium companies inlcuding SXR Uranium One, Ur-Energy, and UraMin which eventually sold for $2.5 billion in 2007 to Areva.

David Cates is a Director of Skyharbour. He is the President and CEO of Denison Mines (TSX: DML) and Uranium Participation Corp (TSX: U). Prior to being appointed the President and CEO position Mr. Cates served as Denison’s Vice President Finance, Tax and Chief Financial Officer. As Chief Financial Officer, Mr. Cates played a key role in the Company’s mergers and acquisitions activities – leading the acquisition of Rockgate Capital Corp. and International Enexco Ltd. Mr. Cates joined Denison in 2008 and held the position of Director, Taxation prior to his appointment as Chief Financial Officer. Prior to joining the Company, Mr. Cates held positions at Kinross Gold Corp. and PwC LLP with a focus on the resource industry.

Paul Matysek is a Strategic Advisor for Skyharbour and is a mining entrepreneur, professional geochemist and geologist with over 35 years of experience in the mining industry. He was the Founder, President and CEO of Energy Metals Corporation (“EMC”), a premier uranium company that traded on the New York and Toronto Stock Exchanges. Mr. Matysek led EMC as one of the fastest growing Canadian companies in recent years, increasing its market capitalization from $10 million in 2004 to approximately $1.8 billion when it was acquired by a larger uranium producer, Uranium One Inc., in 2007. In December of 2017, Mr. Matysek was involved of the sale of Lithium X Energy Corp. for $265M to NextView New Energy. Mr. Matysek was the President and CEO of Goldrock Mines Corp. which on June 7th, 2016 announced it had entered into a definitive agreement to be acquired by Fortuna Silver Mines (NYSE:FSM) (TSX:FVI) for $129 million on a fully-diluted in-the-money basis. Previously, Mr. Matysek was the President and CEO of Lithium One Inc., which developed a high-quality lithium project in northern Argentina. In July 2012, Lithium One and Galaxy Resources merged with a $112 million plan to create a fully integrated lithium company. Prior to Lithium One, Mr. Matysek was the President and CEO of Potash One Inc. where he was the architect of the $434 million friendly takeover of Potash One by K+S Ag, which closed in early 2011.

Mr. Gallucci is a senior capital markets executive and corporate director with over 20 years of experience in investment banking and equity research. His career focused on mining, base metals, precious metals and bulk commodities on a global scale. He is currently the Managing Director and Head of Investment Banking at Laurentian Bank Securities Inc. where he oversees the investment banking practice in entirety.

His career has spanned across various firms including BMO Capital Markets, GMP Securities, Dundee Securities, and he was a founding principal of Eight Capital where he led their Mining Investment Banking Team.

In his previous and current roles, he has acquired experience in corporate finance, mergers, acquisitions, business and operational development, financings and corporate strategy. He has been directly involved in raising several billion dollars for mining companies as well as lead advisor on significant M&A transactions.

Prior to investment banking, Mr. Gallucci spent over a decade in equity research with a focus on global mining at both GMP and Dundee Securities. At Dundee Securities, he was a Managing Director and Head of the Metals and Mining Research Team, where he oversaw the entire mining franchise.

He holds a Bachelor of Commerce degree from Concordia University and an MBA in Investment Management from the Goodman Institute of Investment Management. He also holds the ICD.D designation.

Skyharbour Resources Ltd. (TSXV: SYH) would like to cordially invite you to visit us at Booth #604 at the Vancouver Resource Investment Conference (VRIC) to be held at the Vancouver Convention Centre West (1055 Canada Place, Vancouver) on Tuesday May 17 Wednesday May 18, 2022.

Former Prime Minister of Canada Stephen Harper and Former President of Mexico Felipe Calderon are two of the marquee speakers at the 2022 Resource Investment Conference. The Vancouver Resource Investment Conference (VRIC) will host over 100 international keynote speakers covering the hottest topics in finance, economics and geopolitics on May 17th and 18th, 2022.

Alongside the former Canadian Prime Minister and Mexican President are best selling finance author Robert "Rich Dad" Kiyosaki, dozens of globally respected economists, legendary money managers, and investors. The conversations on stage will cover the most important investment opportunities and key issues in macro-finance.

The VRIC will include a marketplace of 225 investment opportunities in the mining industry, spanning early-stage exploration to advanced producing mines.

For more information and/or to register for the conference please visit: https://cambridgehouse.com/vancouver-resource-investment-conference.

We look forward to seeing you there.

Skyharbour Resources Ltd. Jordan Trimble 604-687-3376 info@skyharbourltd.com https://skyharbourltd.com/

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Skyharbour Resources Ltd. (TSXV: SYH) is pleased to announce that the company will be presenting at Red Cloud's 2022 Very 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 2-4, 2022.

Jordan Trimble will be presenting on March 2nd at 3:00 PM Eastern Standard time.

For more information and/or to register for the conference please visit: https://www.redcloudfs.com/prepdac2022/.

We look forward to seeing you there.

Skyharbour Resources Ltd. Jordan Trimble 604-687-3376 info@skyharbourltd.com https://skyharbourltd.com/

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Skyharbour Resources Ltd.'s (TSX-V: SYH ) (OTCQB: SYHBF ) (Frankfurt: SC1P ) (the "Company") partner company Azincourt Energy ("Azincourt) is pleased to present the analytical results from the Winter 2022 drill program at the East Preston uranium project, located in the western Athabasca Basin, Saskatchewan, Canada.

Project Location – Western Athabasca Basin, Saskatchewan, Canada: https://www.skyharbourltd.com/_resources/maps/Sky_EastPreston_20211209.jpg

Drilling for the 2022 winter season at the East Preston Project resulted in 5,004.5 metres completed in 19 drill holes between January and March of 2022. Initial findings of this program were reported in a news release dated March 29 th , 2022. Drilling during the 2022 program focused on the A-G and K-H-Q trends and commenced in the G-Zone where the 2021 drill program ended.

"The analysis from drill core is encouraging" said Azincourt's VP, Exploration, Trevor Perkins. "The uranium enrichment within the alteration zones is a sign that uranium bearing fluids were present within the alteration system. We have the alteration system, and uranium moving around within it. The next step is identifying the areas of concentration within the system where significant uranium is dropping out," continued Mr. Perkins.

An analysis of the results shows uranium enrichment within the previously identified alteration zones along the G-, K, and H- target zones (Figure 2). Uranium enrichment is identified as uranium (U) values and a uranium/thorium ratio (U/Th) above what would normally be expected in the given rock type or area.

The H-Zone covers a change in orientation of the structural and conductive trend from north-south to southwest trending and contains a thick zone of hydrothermal alteration and an intense graphitic fault and mylonite zone. A sample from hole EP0041 retuned 12.5 ppm U and a 0.5 U/Th ratio within a mylonite in the fault zone.

Along the north-south trending K-Zone extensive zones of hydrothermal hematite have been intersected in all holes, with clay alteration also being present. A zone of localized elevated radioactivity more than 10 times background values was identified in hole EP0035 (see Azincourt's news release dated March 1 st , 2022). The rock type in this zone is gabbro with average expected values of 0.5-1.5 ppm U and U/Th ratios of 0.25-0.5. A sample from this zone in hole EP0035 returned 5.4 ppm U and a 1.2 U/Th ratio.

Azincourt considers sample analysis results to be an important indicator that uranium bearing fluids were present within the alteration systems identified. Continued testing of the alteration system to identify the extents of the alteration and areas of fluid concentration and strong uranium enrichment will be the aim of follow-up programs.

"The results of this drill program continue to support our exploration model at East Preston," said Azincourt's President and CEO, Alex Klenman. "The alteration zones are considerable in both size and scope. The results now confirm uranium is present within these alteration zones, which is a significant and critical step in the exploration process. We are eager to get the next round of drilling completed as the knowledge gained from this winter's program will aid immensely in vectoring toward areas of more significant mineralization. The next eight to ten months will be busy for Azincourt as we follow up at East Preston, and we also begin drilling at Hatchet Lake, which we plan to drill as early as this fall. Despite the recent decline in overall market sentiment, we're in an excellent position. Our treasury is extremely strong, and we're fully funded to execute all of our exploration plans over the next year, and beyond. We're going to be very active and plan to be aggressive with the drills," continued Mr. Klenman.

A thorough review and interpretation of the results of the winter 2022 program is underway and preparation for an extensive program in the winter of 2022-2023 is planned to continue evaluating alteration and structure on the G-, K-, and H-Zones as well as get a first look at the Q-Zone.

The primary target area on the East Preston Project is the conductive corridors from the A-Zone through to the G-Zone (A-G Trend) and the K-Zone through to the H and Q-Zones (K-H-Q Trend) (Figure 1). The selection of these trends is based on a compilation of results from the 2018 through 2020 ground-based EM and gravity surveys, property wide VTEM and magnetic surveys, and the 2019 through 2022 drill programs. The 2020 HLEM survey indicates multiple prospective conductors and structural complexity along these corridors.

Target Corridors at East Preston Uranium Project (Figure 1) : https://skyharbourltd.com/_resources/maps/nr-20210118-figure1.png

2022 Drill Target Areas at the East Preston Uranium Project (Figure 2) : https://www.skyharbourltd.com/_resources/images/2022-Drill-Holes-and-Target-areas-at-the-East-Preston-Uranium-Project.png

Skyharbour and Dixie Gold entered into an Option Agreement (the "Agreement") with Azincourt whereby Azincourt had an earn-in option to acquire a 70% working interest in a portion of the Preston Uranium Project known as the East Preston Property. Azincourt has now earned their interest in the project by completing CAD $2.5 million in staged exploration expenditures and making a total of CAD $1 million in cash payments as well as issuing shares of Azincourt divided evenly between Skyharbour and Dixie Gold. Skyharbour retains a 15% interest in the East Preston Project.

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 has identified outcrop, soil, biogeochemical and radon anomalies, which are key pathfinder elements for unconformity uranium deposit discovery.

The East Preston Project has multiple long linear conductors with flexural changes in orientation and offset 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. 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).

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 by C. Trevor Perkins, P.Geo., Vice President, Exploration of Azincourt Energy, and a Qualified Person as defined by National Instrument 43-101.

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 fifteen projects, ten of which are drill-ready, covering over 450,000 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% U 3 O 8 over 5.9 metres including 20.8% U 3 O 8 over 1.5 metres at a vertical depth of 265 metres. Adjacent to the Moore Uranium Project is Skyharbour's recently optioned Russell Lake Uranium Project from Rio Tinto, which hosts historical high-grade drill intercepts over a large property area with robust exploration upside potential. Furthermore, the Company owns a 100% interest in the South 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 U 3 O 8 at 0.03% and 5.3 million pounds of ThO 2 at 0.023%. Skyharbour is actively advancing these projects through exploration and drill programs.

Skyharbour has a joint-venture with industry-leader Orano Canada Inc. at the Preston Project whereby Orano has earned a 51% interest in the project through exploration expenditures and cash payments. Skyharbour now owns a 24.5% interest in the Project. Skyharbour also has a joint venture with Azincourt Energy at the East Preston Project whereby Azincourt has earned a 70% interest in the project through exploration expenditures, cash payments and share issuance. Skyharbour now owns a 15% interest in the Project. 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.

Skyharbour has several active option partners including: ASX-listed Valor Resources on the Hook Lake Uranium Project whereby Valor can earn-in 80% of the project through CAD $3,500,000 in exploration expenditures, $475,000 in cash payments over three years and an initial share issuance; CSE-listed Basin Uranium Corp. on the Mann Lake Uranium Project whereby Basin Uranium can earn-in 75% of the project through $4,000,000 in exploration expenditures, $850,000 in cash payments as well as share issuances over three years; and CSE-listed Medaro Mining Corp. on the Yurchison Project whereby Medaro can earn-in an initial 70% of the project through $5,000,000 in exploration expenditures, $800,000 in cash payments as well as share issuances over three years followed by the option to acquire the remaining 30% of the project through a payment of $7,500,000 in cash and $7,500,000 worth of shares.

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://www.skyharbourltd.com/_resources/im ages/SKY-SaskProject-Locator-20220324.jpg

To find out more about Skyharbour Resources Ltd. (TSX-V: SYH) visit the Company's website at www.skyharbourltd.com .

"Jordan Trimble" Jordan Trimble President and CEO

For further information contact myself or: Riley Trimble Corporate Development and Communications Skyharbour Resources Ltd. Telephone: 604-687-3376 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.

The securities offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor in any other jurisdiction.

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, including the Private Placement. 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, regulatory approvals, 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.

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Purepoint Uranium Group Inc. (TSXV: PTU) (OTCQB: PTUUF) ("Purepoint" or the "Company") today announced the commencement of a deep sensing Z-Axis Tipper Electromagnetic (ZTEM) airborne survey over the northern portion of the Carter Corridor at the Hook Lake Joint Venture; a joint venture between Cameco Corporation (39.5%), Orano Canada Inc. (39.5%), and Purepoint (21%). The Hook Lake Project lies on the southwestern edge of Saskatchewan's Athabasca Basin in the Patterson Uranium District, Saskatchewan, Canada and is adjacent to and on trend with high-grade uranium discoveries including Fission Uranium's Triple R Deposit and NexGen's Arrow Deposit.

ZTEM technology, exclusive to Geotech Ltd., is used to measure the variations in naturally occurring electromagnetic (EM) fields produced by thunderstorms around the globe. The variations in the EM fields help detect the resistivity contrast in deeply buried rock structures that may have controlled uranium deposition.

The Carter corridor is a long lived, reactivated fault zone that lies between the Clearwater Domain granitic intrusives to the west and runs parallel to the Patterson structural corridor to the immediate east. The 25-kilometre strike length of the Carter structural/conductive corridor is almost entirely located within the Hook Lake JV project.

Figure 1: Hook Lake Map To view an enhanced version of Figure 1, please visit: https://images.newsfilecorp.com/files/3218/130538_944397aa349d49e4_002full.jpg

Hook Lake - The Carter Corridor

The Hook Lake JV Project is owned jointly by Cameco Corp. (39.5%), Orano Canada Inc. (39.5%) and Purepoint Uranium Group Inc. (21%) as operator and consists of nine claims totaling 28,598 hectares situated in the southwestern Athabasca Basin. The Hook Lake JV Project is considered one of the highest quality uranium exploration projects in the Athabasca Basin due to its location along the prospective Patterson Lake trend and the relatively shallow depth to the unconformity.

The Patterson Lake area was recently flown by an airborne gravity survey (Boulanger, Kiss and Tschirhart, 2019) that was funded by the Targeted Geoscience Initiative (TGI), a collaborative federal geoscience program. The gravity results show the southern portion of the Carter corridor as being associated with the same gravity high response as the Triple R and Arrow uranium deposits. The gravity low response west of the Carter corridor reflects the geologically younger, Clearwater Domain intrusions. The TGI (Potter et al., 2020) consider the Clearwater Domain intrusions as being high-heat-producers that warmed and circulated hydrothermal fluids over the structural corridors. Prolonged interaction of oxidized uranium-bearing fluids with basement rocks via reactivated faults is thought to have formed the high-grade uranium deposits.

Purepoint completed three drill holes in the southern portion of the Carter corridor (HK08-01 to 03) during 2008. HK08-01 intersected very strong sericite and silica hydrothermal alteration and returned a maximum of 17 ppm U within basement rock but missed the conductor source. HK08-02 returned locally elevated radioactivity from 20 to 30 metres below the unconformity while HK08-03 intersected 60 metres of intense hydrothermal hematite alteration below the unconformity.

Purepoint Uranium Group Inc. (TSXV: PTU) (OTCQB: PTUUF) actively operates an exploration pipeline of 12 advanced projects in Canada's Athabasca Basin. In addition to its flagship joint venture project at Hook Lake with partners Cameco and Orano and a second joint venture with Cameco at Smart Lake, Purepoint also holds ten, 100% owned projects with proven uranium exploration targets. With an aggressive exploration program underway on multiple projects, Purepoint is emerging as the preeminent uranium explorer in the world's richest uranium district.

Scott Frostad BSc, MASc, PGeo, Purepoint's Vice President, Exploration, is the Qualified Person responsible for technical content of this release.

For more information, please contact:

Chris Frostad, President & CEO Phone: (416) 603-8368 Email: cfrostad@purepoint.ca

For additional information please visit our new website at https://purepoint.ca, our Twitter feed: @PurepointU3O8 or our LinkedIn page @Purepoint-Uranium.

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

This press release contains projections and forward-looking information that involve various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of the Company. These risks and uncertainties could cause actual results and the Company's plans and objectives to differ materially from those expressed in the forward-looking information. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and expressly qualified in their entirety by this notice.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/130538

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ValOre Metals Corp. ("ValOre"; TSX ‐ V: VO; OTC: KVLQF; Frankfurt: KEQ0, "the Company") today announced multiple high-grade PGE assay results from the follow-up Trado ® auger program at the Ipueiras target ("Ipueiras") at ValOre's 100%-owned Pedra Branca Platinum Group Elements ("PGE", "2PGE+Au") Project ("Pedra Branca") in northeastern Brazil.

"Phase 2 Trado ® results from Ipueiras confirm the presence of in-situ, high-grade, at-surface palladium-platinum mineralization at the undrilled Southwest Zone," stated ValOre's V.P. of Exploration, Colin Smith. "Follow-up trenching has commenced to further delineate the PGE-bearing intrusion prior to core or RC drilling."

Ipueiras Trado ® Auger Drilling Highlights:

Follow-up Trado ® auger drilling at Ipueiras returned multiple high-grade PGE intervals, including:

Trado ® end of hole ("EOH") depths typically represent that the auger has entered impenetrable unweathered bedrock, so mineralization and ultra-mafic rocks ("UM") present at EOH remain open at depth and require follow-up core or RC drilling.

The second phase of Trado ® auger drilling at Ipueiras was designed to follow-up on PGE high-grade mineralization reported from previous Trado ® holes and trenches of the Northeast and Southwest Zones, within the 2-km-long anomalous trend of Ipueiras Target (located 10 km south of the Trapia deposit area – 885,000 oz 2PGE+Au grading 0.96 g/t in 28.8 Mt).

32 follow up Trado ® auger holes were drilled, totaling 107 m. Target UM rocks were encountered in 19 Trado ® holes (68 m of the 107 m augered) with reported PGE mineralization 17 of 32 holes. See Table 1 below for a summary of significant Trado ® assay results from the second phase of the Trado ® program at Ipueiras.

Table 1: Follow up Trado ® Auger Drilling Highlights for Ipueiras Target

A total of 67 Trado ® auger holes have been drilled in 2022 at the Northeast and Southwest Zones of Ipueiras, totaling 212 m augered, including 129.5 m of target UMs and PGE mineralization reported in 37 of 67 holes.

ValOre's exploration program at Ipueiras commenced with detailed geological mapping and prospecting throughout the 2-km-long anomalous trend, followed up with a first phase of Trado ® auger drilling (105 m), with reported PGE mineralization in 11 of 35 holes ( CLICK HERE for news release dated March 31, 2022).

PGE-mineralized Trado ® auger results defined an area of focus within the Northeast Zone for priority follow up work, and was subsequently tested for in-situ PGE mineralization by excavation of 4 trenches totaling 189 m, covering a strike length of approximately 200 m. All 4 trenches confirmed continuity of PGE-bearing UM and UM-derived rocks along strike ( CLICK HERE for news release dated April 5, 2022), with two of four trenches returning significant intervals of PGE mineralization, including:

At the Southwest Zone, highlights of historic and ValOre high-grade rock samples collected throughout the area include grades of over 40 g/t 2PGE+Au, correlative with the high-grade UMs and chromitite reefs exposed in trenches TR22IP01 and TR22IP02 at the Northeast Zone, which confirm extension of known PGE mineralization and exploration upside for an additional 2 km to the southwest of the existing historical core drilling and trenching area. See Figure 1 below for a plan map of the Ipueiras target and Figures 2 and 3 for detailed plan maps of the Northeast and Southwest Zones.

Follow-up trenching has commenced at the SW Zone to further delineate in-situ PGE mineralization at the southwestern extension of the 2-km-long PGE mineralized trend.

Figure 1: Ipueiras target ground mag anomaly extending for approximately 2 km along strike from southwest to the northeast. is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3c5fefbd-a64a-44fb-9218-ef46e20000f9

Figure 2: Ipueiras Target Plan Map, NE Zone. Previous assays and new Trado ® drilling highlights. is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/12ccd534-dec7-49cb-9c36-24446b6548b5

Figure 3: Ipueiras Target Plan Map, SW Zone. Trado ® drilling highlights and planned trench location. is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/66806b6d-456f-42bb-9d9d-5386caad7052

Figure 4: PGE high-grade "chip" archive samples from Trado ® holes TR22IP58 and TR22IP59, which returned 8 m grading 2.05 g/t 2PGE+Au from 1 m, incl. 3 m grading 4.70 g/t 2PGE+Au from 6 m, and 6 m grading 3.60 g/t 2PGE+Au from 2 m, incl. 4 m grading 5.00 g/t 2PGE+Au from 4 m, respectively. Individual chip trays are 50 x 25 mm. is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f9c835b2-64ec-4a95-822a-c1e013c6721b

Figure 5: Photograph from a massive chromitite "core" augered from 1 to 1.2 m depth at AD22IP61A in the SW Zone of Ipueiras Target. Sample returned 2.58 g/t 2PGE+Au over 0.50 m. is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/87c0e9eb-6afa-4960-b387-567fc0c346d1

About the Trado ® Auger and Trenching methodology

CLICK HERE for more information regarding Trado ® Auger and Trenching methodology

Quality Control/Quality Assurance ("QA/QC") and Grade Interval Reporting

CLICK HERE for a summary of ValOre's policies and procedures related to QA/QC and grade interval reporting.

The technical information in this news release has been prepared in accordance with Canadian regulatory requirements set out in NI 43-101 and reviewed and approved by Colin Smith, P.Geo., ValOre's QP and Vice President of Exploration.

ValOre Metals Corp. (TSX ‐ V: VO) is a Canadian company with a portfolio of high‐quality exploration projects. ValOre's team aims to deploy capital and knowledge on projects which benefit from substantial prior investment by previous owners, existence of high-value mineralization on a large scale, and the possibility of adding tangible value through exploration, process improvement, and innovation.

In May 2019, ValOre announced the acquisition of the Pedra Branca Platinum Group Elements (PGE) property, in Brazil, to bolster its existing Angilak uranium, Genesis/Hatchet uranium and Baffin gold projects in Canada.

The Pedra Branca PGE Project comprises 52 exploration licenses covering a total area of 56,852 hectares (140,484 acres) in northeastern Brazil. At Pedra Branca, 7 distinct PGE+Au deposit areas host, in aggregate, a 2022 NI 43-101 inferred resource of 2.198 Moz 2PGE+Au contained in 63.6 Mt grading 1.08 g/t 2PGE+Au ( CLICK HERE for news release dated March 24, 2022). All the currently known Pedra Branca inferred PGE resources are potentially open pittable.

Comprehensive exploration programs have demonstrated the "District Scale" potential of ValOre's Angilak Property in Nunavut Territory, Canada that hosts the Lac 50 Trend having a current Inferred Resource of 2,831,000 tonnes grading 0.69% U3O8, totaling 43.3 million pounds U3O8. For disclosure related to the inferred resource for the Lac 50 Trend uranium deposits, please CLICK HERE for ValOre's news release dated March 1, 2013.

ValOre's team has forged strong relationships with sophisticated resource sector investors and partner Nunavut Tunngavik Inc. (NTI) on both the Angilak and Baffin Gold Properties. ValOre was the first company to sign a comprehensive agreement to explore for uranium on Inuit Owned Lands in Nunavut Territory and is committed to building shareholder value while adhering to high levels of environmental and safety standards and proactive local community engagement.

On behalf of the Board of Directors,

James R. Paterson, Chairman and CEO

For further information about ValOre Metals Corp., or this news release, please visit our website at www.valoremetals.com or contact Investor Relations at 604.653.9464, or by email at contact@valoremetals.com .

ValOre Metals Corp. is a proud member of Discovery Group. For more information please visit: http://www.discoverygroup.ca/

Neither the 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 news release contains "forward-looking statements" within the meaning of applicable securities laws. Although ValOre believes that the expectations reflected in its forward-looking statements are reasonable, such statements have been based on factors and assumptions concerning future events that may prove to be inaccurate. These factors and assumptions are based upon currently available information to ValOre. Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking statements. A number of important factors including those set forth in other public filings could cause actual outcomes and results to differ materially from those expressed in these forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include the future operations of ValOre and economic factors. Readers are cautioned to not place undue reliance on forward-looking statements. The statements in this press release are made as of the date of this release and, except as required by applicable law, ValOre does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. ValOre undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of ValOre, or its financial or operating results or (as applicable), their securities.

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Defined terms used in this announcement have the same meaning as given to them in the Company's announcement released on June 23, 2022, unless otherwise defined herein.

Southern Energy Corp. ("Southern" or the "Company") (TSXV:SOU)(AIM:SOUC), a U.S.-focused, growth-oriented natural gas producer, is pleased to announce the closing of its previously announced Offering to raise, in aggregate, gross proceeds of US$31.0 million through the issue of 46,371,927 new Common Shares. The Underwriters will not be exercising the over-allotment option granted to them in connection with the Offering

The net proceeds from the Offering will be used to accelerate the initiation of a continuous organic drilling programme at the Company's Gwinville field, as well as increase the Company's financial flexibility for potential acquisition opportunities.

Ian Atkinson, President and CEO of Southern, commented:

"With our strengthened financial capability, we now look ahead to further exciting operational activity at Gwinville while also being capable of considering M&A opportunities in our core area of expertise from a position of strength. With a multi-year drilling inventory in Gwinville alone, we look forward to realising our forward growth potential of our goal to reach 25,000 boe/d; with more drilling anticipated to begin later this year."

"I would like to thank all of our new and existing shareholders for their support throughout this process as well as for their continued engagement in our Company."

On June 27, 2022, the Company entered into basis swaps covering just under 40% of our physical price exposure with a natural gas basis swap transaction to secure an average premium to NYMEX of $0.39 per MMBtu from July 1, 2022 to December 31, 2022. This opportunity exists due to increased natural gas demand in the southeast Gulf States where traditionally the pricing would range between NYMEX plus or minus $0.05 per MMBtu. Strong demand in our core area is further highlighted by spot basis where our natural gas is currently selling for a $3.40 per MMBtu premium to NYMEX. The Company continues to monitor these premium prices and is prepared to hedge additional basis exposure at these elevated basis premiums.

Calvin Yau, Chief Financial Officer of Southern, commented:

"We are now selling natural gas at a premium to NYMEX pricing which I believe is indicative of the current supply and demand dynamics we are facing in the United States, and our ability to lock in long term hedges at these elevated basis premiums is indicative that this supply demand imbalance is forecasted to remain for an extended period of time."

Admission and Total Voting Rights

Further to the Company's announcement on May 6, 2022 regarding the application to AIM for a block admission in respect of certain outstanding dilutive instruments in the Company (the "Block Admission"), the Company notes that 3,101,875 new Common Shares were issued in June 2022 pursuant to the exercise of such instruments. Accordingly, as at June 30, 2022, Southern Energy had 89,536,858 Common Shares in issue.

Following the issue of the Offering Shares, Southern has 135,908,785 Common Shares in issue. There are no Common Shares held in treasury and each Common Share entitles the holder to a single vote at general meetings of the Company. This figure may therefore be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company.

The Placing Shares were issued and admitted to trading on AIM on July 5, 2022 and the Prospectus Offering Shares are expected to be admitted to trading on AIM at 8:00 a.m. (UK) on or around July 8, 2022.

It is noted that certain Directors and other PDMRs of the Company have participated in the Prospectus Offering, on the same terms as all other participants, to subscribe for, in aggregate, 448,274 Prospectus Shares. Further details regarding individual participation of the Company's Directors and other PDMRs are set out in the PDMR notification forms below.

Southern Energy Corp. is a natural gas exploration and production company. Southern has a primary focus on acquiring and developing conventional natural gas and light oil resources in the southeast Gulf States of Mississippi, Louisiana, and East Texas. Our management team has a long and successful history working together and have created significant shareholder value through accretive acquisitions, optimization of existing oil and natural gas fields and the utilization of re-development strategies utilizing horizontal drilling and multi-staged fracture completion techniques.

For further information, please contact:

Ian Atkinson (President and CEO) +1 587 287 5401 Calvin Yau (VP Finance and CFO) +1 587 287 5402

Strand Hanson Limited - Nominated & Financial Adviser +44 (0) 20 7409 3494

James Spinney / James Bellman / Rob Patrick

Canaccord Genuity - Joint Broker +44 (0) 20 7523 8000

Henry Fitzgerald-O'Connor / James Asensio

Hannam & Partners - Joint Broker +44 (0) 20 7907 8500

James Crothers / Billy Clegg / Hugo Liddy

Certain information included in this Announcement constitutes forward-looking information under applicable securities legislation. Forward-looking information typically contains statements with words such as "anticipate", "believe", "expect", "plan", "intend", "estimate", "propose", "project" or similar words suggesting future outcomes or statements regarding an outlook. Forward-looking information in this Announcement may include, but is not limited to, statements concerning the use of proceeds of the Offering, the Company's business strategy, objectives, strength and focus and the Company's capital program.The forward-looking statements contained in this Announcement are based on certain key expectations and assumptions made by Southern, including the timing of and success of future drilling, development and completion activities, the performance of existing wells, the performance of new wells, the availability and performance of facilities and pipelines, the geological characteristics of Southern's properties, the characteristics of its assets, the successful application of drilling, completion and seismic technology, benefits of current commodity pricing hedging arrangements, prevailing weather conditions, prevailing legislation affecting the oil and gas industry, commodity prices, royalty regimes and exchange rates, the application of regulatory and licensing requirements, the availability of capital, labour and services, the creditworthiness of industry partners and the ability to source and complete asset acquisitions. Although Southern believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because Southern can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the risk that the Company may apply the proceeds of the Offering differently than as stated herein depending on future circumstances; risks associated with the oil and gas industry in general (e.g., operational risks in development, exploration and production; the uncertainty of reserve estimates; the uncertainty of estimates and projections relating to production, costs and expenses, and health, safety and environmental risks), constraint in the availability of services, negative effects of the current COVID-19 pandemic, commodity price and exchange rate fluctuations, geo-political risks, political and economic instability abroad, wars (including Russia's military actions in Ukraine), hostilities, civil insurrections, inflationary risks including potential increases to operating and capital costs, changes in legislation impacting the oil and gas industry, adverse weather or break-up conditions and uncertainties resulting from potential delays or changes in plans with respect to exploration or development projects or capital expenditures. These and other risks are set out in more detail in the Final Prospectus and Southern's most recent management's discussion and analysis and annual information form, which are available under the Company's SEDAR profile at www.sedar.com.The forward-looking information contained in this Announcement is made as of the date hereof and Southern undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, unless required by applicable securities laws. The forward-looking information contained in this Announcement is expressly qualified by this cautionary statement.

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.

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ACME Lithium Inc. (CSE: ACME) (OTCQB: ACLHF) (the "Company", or "ACME") is pleased to report that it has commenced an extensive summer exploration program at ACME's 11,803 acre Shatford and Cat-Euclid Lake project areas in southeastern Manitoba.

ACME's Shatford Lake claim area is located strategically and contiguous to the south of Sinomine's world class Tanco Mine, a Lithium, Cesium and Tantalum producer (LCTs) since 1969, located in the pegmatite fields of the southern limb of the Bird River Greenstone Belt (BRGB). ACME's Cat-Euclid Lake project claims are approximately 20 kilometres to the north of the Tanco Mine.

ACME Lithium's exploration strategy in the Bird River Greenstone Belt is to employ remote sensing, structural geology, ground-based geological mapping, and geochemical sampling to localize targets for drilling. Our exploration focus is on spodumene-bearing LCT pegmatites that can be a source for lithium carbonate deposits.

At both projects, three two-man crews will focus exploration in areas with abundant outcrop in favourable structural areas. Work will involve soil, rock, and till sampling. Structural mapping will be done on outcrops within the favourable structural domains to identify joint sets favoured to host pegmatite bodies.

Dane Bridge, P. Geol. is a Qualified Person as defined by NI 43-101 and has supervised the preparation of the scientific and technical information that forms the basis for this news release.

Led by an experienced team, ACME Lithium is a mineral exploration Company focused on acquiring, exploring, and developing battery metal projects in partnership with leading technology and commodity companies. ACME has acquired or is under option to acquire a 100-per-cent interest in projects located in Clayton Valley and Fish Lake Valley, Esmeralda County Nevada, and at Cat-Euclid and Shatford Lakes in southeastern Manitoba.

On behalf of the Board of Directors

Steve Hanson Chief Executive Officer, President and Director Telephone: (604) 564-9045 info@acmelithium.com

Neither the CSE nor its regulations service providers accept responsibility for the adequacy or accuracy of this news release. This news release may contain forward-looking information within the meaning of applicable securities laws ("forward-looking statements"). Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur and in this news release include but are not limited to the attributes of, timing for and expected benefits to be derived from exploration, drilling or development at ACME's project properties. Information inferred from the interpretation of drilling, sampling and other technical results may also be deemed to be forward-looking statements, as it constitutes a prediction of what might be found to be present when and if a project is actually developed. These forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, without limitation: risks related to fluctuations in metal prices; uncertainties related to raising sufficient financing to fund the planned work in a timely manner and on acceptable terms; changes in planned work resulting from weather, logistical, technical or other factors; the possibility that results of work will not fulfill expectations and realize the perceived potential of the Company's properties; risk of accidents, equipment breakdowns and labour disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in the work program; the risk of environmental contamination or damage resulting from the Company's operations and other risks and uncertainties. Any forward-looking statement speaks only as of the date it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/130209

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CAT Strategic Metals Corporation (CSE:CAT)(OTC:CATTF)(FRA:8CHA) ("CAT" or the "Company") reports that, further to its news release of April 13, 2022, announcing an airborne survey on the East Preston Project in Canada's prolific Athabasca Basin, the Company has completed a detailed helicopter-borne geophysical survey over specific and carefully chosen portions of the Company's flagship South Preston Uranium Property. The project is located on the south-western margin of the Athabasca Basin approximately 35 km from the uranium deposits discovered in the Patterson Lake South area by Fission Uranium Corp. ("Fission" or "FCU") and NexGen Energy Ltd. ("NexGen" or "NXE

CAT's just completed survey totaled 984.7 line-kilometres covering two key target areas that were identified by internationally recognized and acclaimed mining consultants, Watts, Griffis and McOuat Limited ("WGM") which was engaged by the Company in October, 2021 for the purpose of advising on, and managing, the exploration of the South Preston property. CAT's South Preston Uranium Project is comprised of 29,395 hectares, and shares more than 10km of the adjacent property border with NexGen, as well as 50km of contiguous claim border with Azincourt Energy Corp. ("Azincourt" or "AAZ")

The target areas that were surveyed have geological similarities that offer significant potential for basement-hosted, unconformity-type uranium deposits; such as Fission's Triple R deposit and other deposits located in the eastern basin, such as Rabbit Lake. The airborne EM and magnetometer survey was focused on the probable extension of known graphitic conductors adjacent to the CAT property, some of which are associated with areas of elevated background radioactivity and radioactive boulders. One survey area covers a zone that was previously described as a graphitic shear zone containing visible uranium mineralization in outcrop.

The CAT project area has never been explored in any systematic manner, and is almost entirely untouched by modern geophysical survey techniques. Recent work by Azincourt, CAT's neighbour, has identified prospective zones on its own property, which is primarily north of CAT's property, immediately northwest of the CAT South Preston Project. Prior to the most recent exploration work carried out by AAZ, Denison Mines carried out various exploration activities in the 1970's that was focused on the Athabasca sandstone unconformity; which is largely, but not entirely, absent from CAT's South Preston property.

CAT's initial airborne geophysical survey forms part of an integrated, multi-stage exploration program designed to uncover the property's true potential gong forward.

Following the interpretation of this airborne geophysical survey's data in the coming weeks, a WGM team will be mobilized and on the ground during August to conduct follow-up exploration protocols which will focus on the highly favourable areas that were identified in the most recent report compiled by WGM. This report was the result of examining all of the previous, and various, data sets that - until now - were never amalgamated into a single database. Of particular interest were those areas where conductors are present, or evidence of uranium mineralization has been previously described.

CAT's CEO, Robert Rosner, stated that "This survey is the first step in a comprehensive and ongoing exploration plan designed to uncover and determine the true nature, and potential worth, of our large land position in the Athabasca Basin. We are very excited to begin the exploration work that we have been wanting to do since we first acquired this project last year. If the ongoing exploration results of our neighbour, Azincourt, are any indication of what we might find on our own land, then we have every reason to be even more excited."

Founded in 1962, WGM is Canada's longest operating independent firm of geological and mining consultants providing professional services to the global minerals industry. WGM has been involved in more than 3,000 mineral projects around the world, and its staff has made significant contributions to a number of important mineral discoveries and new mines. Notably among them are the Mary River iron deposits on Baffin Island, Asbestos Hill in Quebec, the Greens Creek silver-gold-zinc mine and the Pogo gold mine; both in Alaska. As acknowledged by Cominco (now Teck), WGM played a major role in the recognition of the massive Red Dog Pb-Zn mine in Alaska as a very high-priority exploration target.

About CAT Strategic Metals Corporation (CAT)

CAT Strategic Metals' corporate strategy, as reflected in its overall Mission Statement, is to source, identify, acquire and advance property interests located in mineral districts proven to have world-class potential, primarily for gold and copper. In addition to the priority South Preston Uranium Project, CAT' is focused on advancing the Burntland Project located northeast of St. Quentin in the Restigouche County, New Brunswick, Canada, directed at the exploration and development of several Skarn-hosted copper-silver, gold targets and the Gold Jackpot strategic metals property located NE of Elko, Nevada, in the Pequop gold-copper trend with multiple targets for gold-silver, copper, and tellurium. CAT's shares trade on the Canadian Securities Exchange (CSE) under the trading symbol "CAT", and on the Frankfurt Stock Exchange under the symbol "8CH".

ON BEHALF OF THE BOARD Robert Rosner Chairman, President & CEO

Further information regarding the Company can be found on SEDAR at www.SEDAR.com, by visiting the Company's website www.catstrategic.com or by contacting the Company directly at (604) 674-3145.

This news release may contain forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Particular risks applicable to this press release include risks associated with planned production, including the ability of the company to achieve its targeted exploration outline due to regulatory, technical or economic factors. In addition, there are risks associated with estimates of resources, and there is no guarantee that a resource will be found or have demonstrated economic viability as necessary to be classified as a reserve. There is no guarantee that additional exploration work will result in significant increases to resource estimates

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

SOURCE:CAT Strategic Metals Corporation

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