Skye Resources Inc.
TSX : SKR

Skye Resources Inc.

May 20, 2008 12:21 ET

Skye Resources COO Retires

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 20, 2008) - Skye Resources Inc. ("Skye") (TSX:SKR) announces the retirement of David Huggins, Chief Operating Officer.

"David has had an absolutely exceptional international career in the nickel, copper and gold industries," said Colin K. Benner, Skye's Chief Executive Officer. "He has made a significant contribution to the advancement of the Fenix Ferro-Nickel Project through his leadership of the development team, including the postponment of his retirement to support Skye through its recent management transition."

Mr. Huggins will remain available to Skye in a consulting capacity to assist on special assignments until mid-August.

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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