Skye Resources Inc.

Skye Resources Inc.

December 12, 2006 08:00 ET

Skye Hires Project Director for Fenix Project

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Dec. 12) - Skye Resources Inc. ("Skye") (TSX:SKR) today announced that Mr. Hugh S. Duncan will join Skye Resources Inc. as Project Director for its Fenix ferro-nickel project in Guatemala.

"Hugh brings broad, senior level experience in all phases of project management, including the development and implementation of major mining projects," said Ian Austin, President and CEO of Skye Resources. "Hugh's diverse background in the mining industry, his prior experience with ferro-nickel projects and in Guatemala, and his strong leadership style will make him an invaluable member of the Skye team as we proceed with the development of Fenix."

Mr. Duncan played significant leadership roles in several Falconbridge projects, most particularly in the development of the Koniambo ferro-nickel project in New Caledonia and the EPCM implementation of the Collahuasi copper project in Northern Chile. Prior to joining Skye, Hugh was Senior Vice-President and Operations Director of Jaguar Nickel, where he was responsible for the successful initiation and completion of the first phase drilling program for the Sechol nickel resource in Guatemala.

Reporting to Skye's Chief Operating Officer, Mr. Duncan's key responsibility will be to lead and manage Skye's owners team during the engineering and construction phases of the Fenix project.

Mr. Duncan holds a B.Sc. in Civil Engineering from the University of Strathclyde, Glasgow and is a member of the Association of Professional Engineers of British Columbia.

About Skye

Skye is an international mining company focused on becoming a new mid-tier nickel producer. The Company acquired the rights to its Guatemalan lateritic nickel project (the Fenix project) in December 2004 and in September 2006 received the results of a feasibility study for a ferro-nickel project at Fenix using proven conventional smelting technology.

Cautionary Notices:

This news release contains certain forward-looking statements that involve risks and uncertainties, such as statements of Skye's plans, objectives, strategies, expectations and intentions. The words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions, as they relate to Skye, or its management, are intended to identify such forward-looking statements. Many factors could cause Skye's actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements. The forward-looking statements included in this news release represent Skye's views as of the date of this news release. While Skye anticipates that subsequent events and developments may cause its views to change, it specifically disclaims any obligation to update these forward-looking statements. These forward-looking statements should not be relied upon as representing its views as of any date subsequent to the date of this news release. All subsequent written and oral forward-looking statements attributable to Skye or persons acting on its behalf are expressly qualified in their entirety by this notice.

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