SOUTH FALCON EAST

Project Highlights

• Geological and geochemical features show distinct similarities to high grade, basement-hosted deposits in the Athabasca Basin such as Eagle Point, Millennium, P-Patch and Roughrider.
• 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.
• In March of 2015, Skyharbour updated the historical NI 43-101 mineral resource estimate* for the Fraser Lakes Zone B deposit at the 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)
• Winter/spring 2015 drill program consisted of 1,278 metres in five holes: 
  • Intersected highest grade mineralization found to date in deposit area: 0.172% U3O8 and 0.112% ThO2 over 2.5 metres
  • Breakthrough towards finding more and higher-grade uranium mineralization at shallow depths
• Tisdale has an earn-in option to acquire up to 75% of the property.
• To earn up to a 75% interest:
  • Tisdale will issue Skyharbour 1,111,111 Tisdale shares upfront, fund exploration expenditures totaling CAD $10,500,000, and pay Skyharbour CAD $11,100,000 in cash of which $6,500,000 can be settled for shares in the capital of Tisdale over the five-year earn-in period

*The historical resource is described in a technical report on the Falcon Point uranium project, Northern Saskatchewan, dated March 20, 2015, and filed on SEDAR by Skyharbour Resources Ltd. Tisdale is not treating the resource as current and has not completed sufficient work to classify the resource as a current mineral resource. While Tisdale is not treating the historical resource as current, it does believe the work conducted is reliable and the information may be of assistance to readers.

Project Highlights

• Uranium and thorium showings in the JNR Fraser Lakes area (Zone A, Zone B, North and T-Bone) were discovered by ground prospecting of airborne geophysical targets.
• Mineralized zones are contained within a 65 kilometre long, folded EM conductor system comprised of Wollaston Group graphitic pelitic gneisses and uraniferous granitic pegmatites.
• Drill testing at Fraser Lakes North intersected low-grade, basement-hosted uranium-thorium mineralization.
• The drill holes exhibit evidence of major structural reactivation, significant clay alteration, uranium remobilization and basinal brine fluid circulation, all of which are prominent characteristics of the most significant basement-hosted uranium deposits in the Athabasca Basin (e.g. Eagle Point, Millennium, P-Patch and Roughrider).
• In the T-Bone Lake area, uranium mineralization is accompanied by significant structural disruption and local clay alteration of the host rocks.
• A major clay-filled fault system intersected in drill holes yielded PIMA infrared spectroscopy results that indicate a preponderance of illite; an important clay mineral that accompanies many of the significant uranium deposits in the Athabasca Basin.