Fair Sky Resources Inc.

Fair Sky Resources Inc.

October 17, 2007 14:33 ET

Fair Sky Puts Boundary Lake Property Up for Bids

CALGARY, ALBERTA--(Marketwire - Oct. 17, 2007) -


Fair Sky Resources Inc. (TSX VENTURE:FSK) has retained CB Securities Inc. as their exclusive advisor for the divestiture of their Boundary Lake natural gas property. The Boundary Lake property is characterized by a 60% working interest in a 1.8 Bcf Halfway gas well flow tested over a 4 day period at 5.2 MMcf/day. There are additional drilling locations and leads defined by 2-D seismic over interest lands. The corporation also has a 60% ownership in a 5.3 mile pipeline capable of 50 MMcf/day throughput, accessing 2 townships of mostly undeveloped open Crown land. Additional information and the Confidentiality Agreement are provided in the Offering Circular available for review in hard copy and at the website www.cbsecurities.com. Execution of the Confidentiality Agreement will allow potential purchasers to gain access to the Data Book and Data Room. Interested parties are asked to submit a Non-Binding Bid by 5:00 pm on Tuesday, November 6, 2007. From the Non-Binding Bids received, Fair Sky will hold additional discussions for the purpose of identifying the most serious party with whom to conclude the transaction.

Proceeds from the divestiture will be used by the company to address its current working capital deficit. Excess proceeds will be put towards the company's inventory of exploration and development opportunities.

The TSX Venture Exchange Inc. has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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