Skye Resources Inc.

Skye Resources Inc.

December 02, 2005 09:32 ET

Skye Issues Stock Options & Renews Investor Relations Agreement

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Dec. 2, 2005) - Skye Resources Inc. has granted options under its Stock Option Plan to a new director to purchase up to 50,000 common shares of the Company until November 30, 2010 at the closing price of the Company's shares on the TSX Venture Exchange on December 5, 2005.

Skye further announces it has renewed its agreement with AXINO AG to provide Skye with investor relations services in the European financial community on a non-exclusive basis. AXINO, which will be paid compensation of (euro) 2,500 per month, is a privately owned full-service investor relations firm based in Stuttgart, Germany. AXINO has advised Skye that it does not hold directly or indirectly any shares of Skye and does not have any right to acquire any shares.

About Skye

Skye is an international mining company focused on becoming a new mid- tier nickel producer. It acquired the rights to its Guatemalan lateritic nickel project (the Fenix project) in December 2004 and is currently undertaking a feasibility study for a 50 million pound per year ferro-nickel operation using proven conventional smelting technology.

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