08:13 AM EST, 02/11/2025 (MT Newswires) -- Skyharbour Resources ( SYHBF ) said overnight Monday that it sealed agreements with Hatchet Uranium over the company's uranium properties in Saskatchewan.

Under the agreements, Hatchet may acquire an 80% interest in Skyharbour's Highway uranium property by paying $3.3 million in cash, shares and exploration commitments over a three-year period.

Hatchet will also acquire a 100% interest in the Genie, Usam and CBX/Shoe uranium projects in exchange for a 9.9% stake in Hatchet.

Skyharbour will retain a 2% net smelter royalty on the optioned property, which can be halved for $1 million. Skyharbour will also receive a 2% net smelter royalty on the purchased projects, which can be halved for $2 million.

Skyharbour's share price climbed 2.9% on Monday to $0.35 on the TSXV.