Skye Resources Inc.

Skye Resources Inc.

June 19, 2008 15:10 ET

Skye Resources Appoints David Bryson CFO

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 19, 2008) - Skye Resources Inc. ("Skye") (TSX:SKR) has appointed David S. Bryson as Chief Financial Officer. Mr. Bryson succeeds W. Keith Service who, in transitioning to retirement, will remain available to Skye to assist on special assignments.

David Bryson, a Chartered Financial Analyst, has been Skye's Vice President Finance and Treasurer since March 2007. He has an extensive background in corporate treasury and development having had a lengthy career at Terasen Inc. from 1989 to 2006, most recently as its Treasurer. Terasen is a former publicly traded energy infrastructure company, purchased by Kinder Morgan Inc. in late 2005.

"I am looking forward to working with David in his expanded role as we move the Fenix Project forward," said Colin K. Benner, Skye's Chief Executive Officer.

"I would like to take this opportunity to thank Keith Service for his contribution to the Company, from Skye's initiation of the Fenix Project in 2004 to its present state as the most advanced brownfield ferro-nickel project in the world," said Benner.

Skye has commenced the initial phase of equipment procurement and site preparation and is presently exploring alternatives to finance the development of the Fenix Ferro-Nickel Project in Guatemala.

About Skye

Skye is an international mining company focused on becoming a 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 2007 Skye received its environmental permits for the project, completed basic engineering and filed a Technical Report. Skye is preparing to initiate construction once financing is in place.

Cautionary Notice: 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. Forward-looking statements may include estimates of future production, construction schedules, construction cost estimates and timing of commencement of operations, and are based on current expectations and beliefs concerning future developments and their potential effects on Skye. Factors that could cause actual results to differ materially from any forward-looking statement include, but are not limited to failure to construct the mine facilities in the time frame and within estimated costs as currently planned; variations in capital and operating costs from estimated costs; unavailability of key personnel, skilled labor, supplies, equipment, machinery, parts, contractors and necessary components of Skye's project; inability to obtain financing on commercially suitable terms; delays in obtaining or failures to obtain required governmental, environmental or other project permits, licenses or approvals; failure to build and maintain good relationships with the local community; illegal land occupations; civil disturbances; changes in the regulatory environment; unforeseen geological, physical or meteorological conditions; natural disasters; labor shortages or stoppages; industrial disputes; inflation; changes in exchange rates; political factors; fluctuations in commodity prices; and other factors including those described under the heading "Risk Factors" in Skye's most recent Annual Information Form filed on Sedar. 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 except as required by law. 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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