Fair Sky Resources Inc.
TSX VENTURE : FSK

Fair Sky Resources Inc.

December 06, 2007 15:16 ET

Fair Sky Resources Announces Cancelation of Line of Credit and the Resignation of the Board of Directors and Senior Management

CALGARY, ALBERTA--(Marketwire - Dec. 6, 2007) -

NOT INTENDED FOR DISSEMINATION IN THE UNITED STATES

Fair Sky Resources Inc. (TSX VENTURE:FSK) ("Fair Sky") today announces that its operating line of credit with Canadian Western Bank has been called. Under the provisions of the LOC agreement, the bank has reduced the available facility to $NIL and demanded payment of the outstanding balances within 10 days. At this time the company does not foresee being able to pay the outstanding balance within this period and as a result the company will cease to be a going concern.

Fair Sky also announces that each member of Fair Sky's board of directors has tendered their resignation from the company, effective immediately and that the CFO, Kirk Wankel, and President, Tim Kemp, have tendered their resignations effective the end of the notice period.

A copy of this press release will be available at www.sedar.com.

The TSX Venture Exchange Inc. does not accept responsibility for the adequacy or accuracy of this release.

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