Skye Resources Inc.

Skye Resources Inc.

March 27, 2008 12:17 ET

Skye Resources Appoints John Bracale CGN President and Guatemala Country Manager

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 27, 2008) - Skye Resources Inc. ("Skye" or "the Company") (TSX:SKR) announced that, effective March 31, 2008, Mr. John Bracale will be joining Skye Resources as Country Manager, Guatemala and also President of Skye's Guatemalan subsidiary, Compania Guatemalteca de Niquel, S.A. ("CGN").

John is an experienced mining executive with over 30 years experience in the mining industry in Latin America and the Pacific Rim. He was most recently a Director and Vice President of Latin America for Gold Hawk Resources Inc. as well as Executive President of their Peruvian subsidiary Compania Minera San Juan. He has also served as Vice President of Latin America for Breakwater Resources, Ltd.; Senior Vice President of Latin American Operations for Arimetco International, Inc.; Vice President of American Pacific Mining Company, Inc. in Honduras ; Executive Manager of Human Resources, Administration and Logistics for and during the building of OK Tedi Mining Ltd. in Papua New Guinea and Administrative Manager for Southern Peru Copper Corporation.

"I am pleased that John has agreed to join the Skye Resources team," said Colin Benner, Skye's CEO and Vice Chairman. "He will play a key role in maintaining the strong support the Fenix Project has received to date from the Government of Guatemala and the communities in the region."

David Huggins will remain a member of the CGN Board of Directors and, in his role as Chief Operating Officer of Skye Resources, will focus on the operational aspects of Fenix and other projects.

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 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 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. 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. 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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