Skye Resources Inc.
TSX : SKR

Skye Resources Inc.

October 17, 2006 17:10 ET

Skye Posts Feasibility Study on Website

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 17, 2006) - Skye Resources Inc. (TSX:SKR) ("Skye") has posted on its web site, www.skyeresources.com, the Feasibility Study for the ferro-nickel smelting project at its Fenix nickel property in Guatemala, the results of which were announced in its September 25, 2006 news release. The Preliminary Assessment for an expansion project using hydrometallurgical processing, the results of which were also announced in the same news release, will be posted on the website shortly. The final documents will reflect changes of a non-material nature to some of the numbers included in the September 25, 2006 news release. Skye will be filing the related technical reports on Sedar.com within the coming weeks.

The feasibility study and preliminary assessment (the "studies") contain 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 the studies represent Skye's views as of the respective dates of the studies. 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 the studies. 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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