Skyharbour Resources Ltd.
TSX VENTURE : SYH

Skyharbour Resources Ltd.

April 20, 2010 13:41 ET

Skyharbour Resources Closes First Tranche Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 20, 2010) - Skyharbour Resources Ltd. (TSX VENTURE:SYH) (the "Company") announces that, further to its news release of March 25, 2010, the Company has raised the sum of $125,000 on a first tranche closing of its private placement by the issuance of 2,500,000 flow-through units at a price of $0.05 per unit.

Each flow-through unit consists of one flow-through common share and one share purchase warrant. Each warrant entitles the holder to purchase one non flow-through common share of the Company at a price of $0.10 per share until 4:00 p.m. (Vancouver time), April 20, 2012. A finder's fee of $3,675 was paid in connection with the private placement. The common shares comprising the units and any shares acquired on exercise of the warrants forming part of the units will be subject to a four month restriction on re-sale expiring on August 21, 2010.

The funds raised will be applied to the continuing drill program on the Company's 20% owned Broulan Reef gold project located in Red Lake, northwestern Ontario.

About Skyharbour Resources Ltd.:

Skyharbour Resources Ltd. is a gold and base metal exploration company developing projects in the RED LAKE district of northwestern Ontario, Canada.

To find out more about Skyharbour Resources Ltd. (TSX VENTURE:SYH), visit the Company's website at www.skyharbourltd.com.

ON BEHALF OF THE BOARD OF DIRECTORS

DONALD C. HUSTON, President

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

Contact Information

  • Skyharbour Resources Ltd.
    Donald C. Huston
    President
    604-687-3376 or Toll Free: 800-567-8181
    604-687-3119 (FAX)
    or
    Skyharbour Resources Ltd.
    Don Myers
    Director
    604-687-3376 or Toll Free: 800-567-8181
    604-687-3119 (FAX)
    info@skyharbourltd.com
    www.skyharbourltd.com