These 3 Catalysts Could Drive Uranium Stocks to Higher Highs in 2026

Distributed on behalf of Skyharbour ResourcesUranium stocks, like Skyharbour Resources (TSXV: SYH) (OTCQX: SYHBF), Denison Mines Corp. (NYSE: DNN) (TSX: DML), Cameco Corp. (NYSE: CCJ) (TSX: CCO), NexGen Energy (TSX: NXE) (NYSE: NXE), and Oklo Inc. (NYSE: OKLO) could have another explosive few years ahead.For one, global uranium demand is expected to soar about 28% by 2030, as nuclear power gains momentum, according to The World Nuclear Association (WNA). That’s all thanks to the global push for energy security, and for the massive, growing needs of artificial intelligence data centers. In fact, as the demand for artificial intelligence grows, tech giants are turning to nuclear power to fuel their energy-intensive data centers.Microsoft, for example, recently signed a power purchase agreement with Constellation Energy. That’s because Microsoft needs extra power to run the servers at its Azure business unit, and thinks nuclear might be the best way to produce that power. Alphabet and Amazon are looking to nuclear power for their data centers. Alphabet partnered with Kairos Power to open small modular nuclear reactors. Two, “After 2030, output from existing mines is forecast to halve, creating a pressing need for new mines and restarts of idle operations. With it taking 10 to 20 years to develop new uranium projects, the association stressed the importance of accelerated investment now to avoid disruptions,” as noted by Mining.com. And three, the Trump Administration just expanded its critical minerals list to include uranium in an effort to strengthen domestic supply and reduce reliance on foreign sources. As noted by Investing News, “The designation of uranium recognizes its strategic importance in powering commercial nuclear reactors, fueling US Navy submarines and supporting defense applications. Currently, the United States imports over 95 percent of its uranium, a dependence that policymakers view as a critical national security concern.”All of which could serve as a powerful catalyst for uranium stocks.In fact, one of the beneficiaries is Skyharbour Resources Ltd. (TSXV: SYH) (OTCQX: SYHBF) just announced the closing of the definitive repurchase agreement with Denison Mines Corp., whereby Denison has acquired an initial project interest in Skyharbour’s Russell Lake Uranium Project and the parties have entered into four separate joint venture agreements on various claims making up Russell (the “Transaction”). The Project is strategically located in the central portion of the Eastern Athabasca Basin of northern Saskatchewan, with access to regional infrastructure, including an exploration camp, all-weather road and powerline.Russell Lake Project Location Map:http://www.skyharbourltd.com/_resources/images/2025-11-14%20SKY-RussellLake-Updated.jpgHighlights:· Strategic Agreement represents combined total project consideration of up to CAD $61.5 million consisting of cash payments to Skyharbour totalling $10.0 million, additional consideration of $8.0 million payable in cash and shares before year end, and expenditures and cash payments totalling up to $43.5 million for Denison to acquire between a 20% and 70% ownership interest over seven years in the claims making up Russell, with Skyharbour owning the remaining interests.· Denison (TSX: DML; NYSE American: DNN), a leading uranium mining company with a market capitalization of over $3 billion, is developing the Wheeler River Project (“Wheeler River”), which shares a 55 kilometre border with Russell. Denison is an existing, large corporate shareholder of Skyharbour and now joins the Company as a strategic, active, funding partner at Russell.· The Project has been divided into four different joint ventures, including Russell Lake (“RL”), Getty East, Wheeler North, and the Wheeler River Inlier Claims, of which Skyharbour will retain initial ownership interests of 80%, 70%, 51%, and 30%, respectively. Denison can then earn up to a 70% interest in the Wheeler North and Getty East properties through option agreements.· The geological teams of Denison and Skyharbour have begun working cooperatively to advance and unlock value across the joint ventures, employing top-tier exploration and development expertise in the region. · Denison has committed to a minimum of $4 million in exploration expenditures over the first two years at Wheeler North and Getty East combined, as well as agreeing to fund to maintain its pro-rata 20% participation interest in the RL claims through 2029 up until such time that total exploration expenditures on the property reach $10 million. · Skyharbour will remain operator with an 80% ownership interest at the RL claims comprising over 53,192 hectares of the original 73,314 hectare Russell Lake Project. The Company will also act as operator during the first earn-in at Getty East with Denison sole funding the exploration in order to fulfill the earn-in option criteria.· Skyharbour is well funded going into 2026 with over $11 million in the treasury. The Company will also generate revenue from its operator fee at the McGowan Lake exploration camp at the Project, as well as from cash and share payments from other option earn-in partner companies.· Skyharbour will continue to directly advance its high-grade Moore Uranium project as well as the RL claims at Russell, while partner companies fund exploration at some of the Company’s other projects.Reorganization of the Russell Lake Project:https://www.skyharbourltd.com/_resources/images/Russell-Map-New.jpgJordan Trimble, President and CEO of Skyharbour, stated: “We are thrilled to close this major transaction for Skyharbour, and to embark on the next chapter of exploration at Russell with a multi-billion dollar strategic partner and large shareholder in Denison Mines. With up to $61.5 million in combined project consideration contemplated, we are confident that this strategic agreement will expedite the discovery process at the Project while minimizing equity dilution for our shareholders. Based on initial technical meetings and strategy sessions with Denison, we are excited about the combined exploration options for the near term. Russell is one of the more prospective exploration projects in the Athabasca Basin proximal to existing and developing mines including Denison’s Pheonix deposit at Wheeler River. Denison will also be able to provide considerable insight and experience as we jointly advance Russell. Lastly, we now enter the new year with a healthy treasury of over $11 million to fund our exploration efforts and corporate activities through 2026 while various partner companies fund exploration at numerous other projects in our portfolio.”David Cates, President and CEO of Denison, further commented: “As Denison nears receipt of final regulatory approvals for the Phoenix In-Situ Recovery mine proposed for our flagship Wheeler River property, we are also making measured investments in our project pipeline – including our next development assets and high-potential exploration properties. Given its proximity to Wheeler River, Denison has had an interest in adding Russell to our property portfolio for much of my nearly two decades with the Company. This transaction achieves that objective by providing Denison with the opportunity to lead and participate in exploration efforts across four newly created joint ventures, which are designed to drive collaboration between Denison and Skyharbour’s technical teams. We are excited to build on our long-standing relationship with Skyharbour and accelerate the evaluation of this exceptional package of highly prospective ground.”Transaction Details:The consideration payment consisted of a $10.0 million cash payment, with $2.0 million paid upon execution of the Strategic Agreement and $8.0 million paid upon closing of the Strategic Agreement. An additional $8.0 million is payable in cash and shares by Denison on or before December 31st, 2025 with a minimum of $2.0 million payable in cash.It is anticipated that Denison will also be making use of the current exploration camp at McGowan Lake on the Project, which will continue to be operated by Skyharbour, and an administrative fee will be payable by Denison to Skyharbour. The claims comprising Russell are subject to various existing underlying royalties to other parties.Skyharbour has received conditional approval from the TSX Venture Exchange for closing. The issuance of shares by Denison to Skyharbour remains subject to appliable exchange approvals.Summary of Initial Joint Ventures:Upon closing of the Strategic Agreement, Denison has earned an initial project interest in each of the four new Russell exploration projects including a 49% interest in the Wheeler North claims, a 20% interest in the RL claims, a 30% interest in the Getty East claims, and a 70% interest in the Wheeler River Inlier claims.(i) Wheeler North (51% SYH, 49% DML; subject to additional earn-in options): The claims marked in yellow in the accompanying map represent 16,409 hectares over eight claims. The claims host some of the exploration targets located proximal to Wheeler River, including the Grayling and Fork Zones. Upon closing of the Transaction, Denison will have the option to increase its interest in Wheeler North to a 70% interest in these claims and Denison will become the operator of Wheeler North as described in more detail below.(ii) Russell Lake or RL (80% SYH, 20% DML): The claims marked in pink in the accompanying map represent 53,192 hectares over 16 claims. These claims are located north and west of Skyharbour’s Moore Project and host numerous exploration target areas including Christie Lake, NE Russell, Blue Steel, Taylor Bay, South Russell, and Kowalchuk Lake. In order to maintain its initial interest in RL, Denison has agreed to fund its pro rata share of up to a maximum of C$10.0 million in total project expenditures. Skyharbour will remain operator of RL.(iii) Wheeler River Inliers (30% SYH, 70% DML). The claims marked in blue in the accompanying map represent 608 hectares over two claims. These are inlier claims within Denison’s Wheeler River project hosting the West Russell and C-Block exploration target areas. DML will become operator of the Wheeler River Inliers.(iv) Getty East (70% SYH, 30% DML; subject to additional earn-in options). The claim marked in green in the accompanying map representing 3,105 hectares is host to the Little Man Lake exploration prospect. The claim borders Cameco’s Cree Zimmer property which holds its Key Lake operations to the south. Upon the closing of the Transaction, Skyharbour remains operator of Getty East; however, Denison has the option to become the operator and acquire up to a 70% interest in this joint venture as described in more detail below.Denison Earn-In Options:The Earn-In Option Agreements grant Denison an option to earn additional interests in Wheeler North and Getty East. Wheeler North Earn-In Option:Under the terms of the Wheeler North Earn-In Option Agreement, Denison may acquire up to a 70% interest in Wheeler North. The option agreement contains two (2) phases, as summarized below: Phase 1: To earn an additional 11% interest in Wheeler North (increasing Denison’s ownership to 60%), Denison must: · Incur $10.0 million in exploration expenditures at Wheeler North within 48 months of Closing, of which $2.5 million in exploration expenditures must be completed within 24 months of Closing, and· Make a cash payment in the amount of $1.5 million to Skyharbour within 48 months of Closing. Phase 2: To earn an additional 10% interest (increasing Denison’s ownership to 70%) in Wheeler North, Denison must complete the requirements of Phase 1, plus the following: · Incur an additional $15.0 million in exploration expenditures at Wheeler North within 7 years of Closing, and · Make a further cash payment in the amount of $2.0 million to Skyharbour within 7 years of Closing. Getty East Earn-In Option Agreement: Under the terms of the Getty East Option Agreement, Denison may acquire up to a 70% interest in Getty East. The option agreement contains two (2) phases, as summarized below: Phase 1: To earn an additional 19% interest in Getty East (increasing Denison’s ownership to 49%), Denison must incur $5.0 million in exploration expenditures at Getty East within 48 months of Closing, of which $1.5 million must be completed within the first 24 months of Closing. Phase 2: To earn an additional 21% interest in Getty East (increasing Denison’s ownership to 70%), Denison must complete the requirements of Phase 1, plus incur an additional $10 million in exploration expenditures within 7 years of Closing. Upon completion of the Phase 2 earn-in option criteria, Denison will have the option to become the operator in this joint venture. Russell Lake Uranium Project Overview:The Russell Lake Project is a large, advanced-stage uranium exploration property totalling 73,314 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. The northern extension of Highway 914 between Key Lake and McArthur River runs through the western extent of the property and greatly enhances accessibility, while a high-voltage powerline is situated alongside this road. Skyharbour’s New 80% Owned RL Project:The claims making up the RL Project constitute over seventy percent of the original Russell project area and will continue to be explored by Skyharbour as the operator and 80% owner. Denison will acquire a 20% interest and has agreed to fund to maintain its pro-rata participation interest in the RL claims through December 31st, 2029, or until such time that total expenditures on the properties have reached $10 million. The RL claims have numerous highly prospective targets that Skyharbour will continue to advance. The Christie Lake target area contains basement-hosted uranium mineralization with historical drilling returning 0.17% U3O8 over 0.4 metres at 436.4 metres depth in hole CL-10-03, hosted within a strongly hematized breccia. A prospective clay altered basement fault system runs throughout this area.The Blue Steel target area comprises graphitic metasediments that were last drilled in 2008. The full extent of the graphitic corridor remains unknown and completely untested. Historical geophysics indicate potential faulting along this corridor, highlighting it as a priority area for follow-up work using modern geophysical methods to refine drill targets.The Kowalchuk area, situated within the southern Russell claims, is another prospective area on the RL claims, with multiple inferred structural trends passing through it. This area has seen only limited modern geophysical coverage to date.In addition to the aforementioned target areas, there are many kilometres of untested EM conductors on the RL claims underlain by rocks of low magnetic intensity, suggestive of the presence of prospective graphitic meta-pelitic basement lithologies typical of Athabasca-style uranium systems. With limited modern exploration conducted over the past 12 years, the RL claims remain underexplored and highly prospective for both expanding known mineralized zones and making new discoveries.Other related developments from around the markets include:Denison Mines Corp. announced the signing of an Impact Benefit Agreement between Denison and the Métis Nation–Saskatchewan, 13 MN–S Locals, MN-S Northern Region 1, and MN–S Northern Region 3. The IBA confirms the Métis Parties' consent to and support for the development and operation of Denison's flagship Wheeler River Project in northern Saskatchewan. In addition, the parties have also entered into an Exploration Agreement covering Denison's exploration and evaluation activities within MN–S NR-1 and MN–S NR-3 of the Métis Homeland. MN–S President Glen McCallum said, "Denison Mines recognized its duty to consult with MN- S Regions, MN–S Locals, and communities on the Wheeler River Project early in the planning stages. All parties have been negotiating since 2019. The MN–S commends Denison's commitment to environmental reclamation post-project and stability for citizens into the future. Today's IBA not only represents enormous economic opportunities for Métis families, but a milestone in our government's relationship with Denison and other industry partners." David Cates, President and CEO of Denison, commented, "We extend our sincere appreciation to the leadership of the MN–S, MN–S NR-1, MN–S NR-3, and the 13 MN–S Locals for trusting Denison to advance the Wheeler River Project within the Métis Homeland. Since the beginning of our engagement with the MN–S, our team has remained deeply committed to building a long-lasting relationship grounded in trust, transparency, and mutual respect. Formalizing both the IBA and the Exploration Agreement reflects the progress we have made together, and also our shared commitment to ensuring that the interests, knowledge, and voices of Métis citizens in Saskatchewan are meaningfully incorporated into the construction and future operation of the Project and Denison's exploration and evaluation activities in MN–S NR-1 and MN–S NR-3."Cameco reported its consolidated financial and operating results for the third quarter ended September 30, 2025, in accordance with International Financial Reporting Standards (IFRS). “Our year-to-date financial results demonstrate strong performance across our uranium, fuel services, and Westinghouse segments, underscoring the resilience of our strategy in a dynamic market that is being continually reinforced by tremendous positive momentum,” said Tim Gitzel, Cameco’s chief executive officer. “Driven by disciplined long-term contracting and management of our supply sources, alongside strategic partnerships that can add significant future value, we are positioned at the forefront of the global nuclear resurgence. As the global energy landscape evolves, nuclear continues on a path towards robust expansion and meaningful transformation. We’re seeing significant attention across all areas of the nuclear fuel cycle, beyond uranium mining - but a good narrative won’t turn a turbine. Cameco is in an exceptional position, with decades of experience operating unique and complex assets that are critical to the long-term health of the nuclear industry, and a deep understanding of how to build value across the nuclear fuel markets. That experience allows us to be selective in committing unencumbered productive capacity under long-term contracts, while ensuring alignment with customer needs, maintaining downside protection, and preserving exposure to future market price improvement. NexGen Energy announced its highest-grade assay results to date at the Company's 100%-owned Patterson Corridor East with drill hole RK-25-256. Assays returned 5.5 meters at 21.4% U3O8 between 590.0 and 595.5 m depth, including 2.5 m at 46.1% U3O8and 0.5 m at 74.8% U3O8 (Figures 1 and 2; Table 1) as well as a separate and adjacent intercept of 1.5 m at 5.28% U3O8. Significantly, this high-grade uranium intersection in RK-25-256 is 119 m down-dip of drill hole RK-25-232, and an additional 51 m down-dip of recently reported (see news release dated November 12, 2025) RK-25-254 (Figure 1 and 3). Overall, intense high-grade uranium mineralization is currently interpreted along a minimum of 215 m of dip extent from RK-25-254 to RK-24-222. Leigh Curyer, Founder & Chief Executive Officer, commented: "RK-25-256 high-grade assay results, consisting of ultra-high grade 0.5 m 74.8% U3O8 takes PCE into a rare mineralized category on a world scale for uranium deposits. This type of basement-hosted mineralization is synonymous with Arrow, only 3.5 km to the west.Oklo Inc. announced that the U.S. Department of Energy (DOE) Idaho Operations Office has approved the Nuclear Safety Design Agreement (NSDA) for the Aurora Fuel Fabrication Facility (A3F) at Idaho National Laboratory (INL), selected to participate in the DOE’s Advanced Nuclear Fuel Line Pilot Projects. The NSDA, the first under the DOE’s Fuel Line Pilot Projects, was approved in just under two weeks and helps demonstrate a new authorization pathway that has the potential to unlock U.S. industrial capacity, advance national energy security and create an accelerated and reproducible framework for scaling production capacity under the executive order ‘Deploying Advanced Nuclear Reactor Technologies for National Security’. “This approval marks clear progress toward demonstrating how we can repurpose used nuclear fuel to power the next generation of clean energy reactors,” said Jacob DeWitte, co-founder and CEO of Oklo Inc. “Advanced fuel fabrication and recycling technologies represent a significant unlock for our business, addressing fuel-supply challenges while transforming fuel economics and creating new revenue opportunities.”Legal Disclaimer / Except for the historical information presented herein, matters discussed in this article contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Winning Media is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. For making specific investment decisions, readers should seek their own advice. Winning Media is only compensated for its services in the form of cash-based compensation. Pursuant to an agreement Winning Media has been paid three thousand five hundred dollars for advertising and marketing services for Skyharbour Resources Ltd. by Skyharbour Resources Ltd. We own ZERO shares of Skyharbour Resources Ltd. Please click here for disclaimer.Contact:Ty Hoffer Winning Media281.804.7972[email protected]