Skye Resources Inc.

Skye Resources Inc.

December 03, 2007 08:00 ET

Skye Resources Announces New Director

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Dec. 3) - Skye Resources Inc. ("Skye") (TSX:SKR) is pleased to announce the appointment of Jean-Sebastien Blanchette to its Board of Directors. Jean is a Senior Analyst with Amber Capital Investment Management ("Amber") with experience in the commodity and mining sectors. Amber is Skye's largest shareholder and owns approximately 18% of Skye's outstanding shares.

Gord Bacon, Skye's Chair stated, "We are pleased that Jean is joining the Board. He will bring an important perspective, particularly as we consider our financing and partnership alternatives over the coming months."

Jean Blanchette commented, "Amber Capital is very pleased to have a representative on the Board of Directors of Skye. We look forward to continuing our support for the company and working with management as the Fenix project advances towards the production stage. We believe strongly in the high quality of this project. The reactivation of the nickel mine will be a major benefit for both the local community in Guatemala and all Skye stakeholders."

About Skye

Skye is an international mining company focused on becoming a new mid-tier nickel producer. Skye acquired the rights to its Guatemalan lateritic nickel project (the Fenix project) in December 2004 and in October 2006 completed a feasibility study for a ferro-nickel project at Fenix using proven conventional smelting technology. In June 2007 Skye received its environmental permits for the project and expects to initiate construction during the first quarter of 2008 with initial production in late 2009.

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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