Skyharbour Resources Ltd.
TSX VENTURE : SYH

Skyharbour Resources Ltd.

July 10, 2008 14:23 ET

Skyharbour Announces Additional Assay Results From South Bay Mine Project, NW Ontario

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 10, 2008) - Skyharbour Resources Ltd. (TSX VENTURE:SYH) (the "Company") announces additional assay results from its 100 % owned South Bay Zinc - copper - silver project, located in Dent and Mitchell Townships, approx 80 km ease north-east of Red Lake , Ontario. The 3200 Acre property includes the former South Bay zinc - copper mine (Selco) which produced 1.6 million tons of high grade ore.

South Bay Claims Map, NW Ontario:
http://www.skyharbourltd.com/s/Image.asp?i=maps/SYH_South_Bay_Map_new.jpg.

Skyharbour has encountered Volcanic Massive Sulphide (VMS) mineralization over significant intersections in its drill program. Assays have been received for holes SB08-09 through SB08-11and SB08-13. SB08-9 and SB08-10 had no significant mineralization. The Company continues to wait for assay results for holes #12 and #14. Significant mineralized zones have been identified in hole SB08-11 and SB08-13, which is reported below. These new intersections of mineralization are marked by a significant zone of sodium depletion encompassing the zinc mineralization and a rather large zone of magnesium enrichment flanking the zinc bearing zone. These 2 geological horizons are key indicators in establishing a high grade zone and stratigraphy.



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Hole # From To Intercept Zn Cu Ag
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SB08-11 234.2m 236.3m 2.1m 0.44% 0.03% 5.2g/t
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336.3m 353.6m 17.3m 0.60% 0.02% -
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374.0m 395.0m 21.0m 1.13% 0.03% -
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Incl. 374.0m 375.0m 1.0m 1.34% 0.02% -
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Incl. 383.0m 384.0m 1.0m 1.16% 0.05% -
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Incl. 387.0m 388.0m 1.0m 1.70% 0.03% 0.5g/t
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Incl. 390.0m 395.0m 5.0m 2.15% 0.03% 4.1g/t
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SB08-13 163.8m 168.0m 4.2mm 0.55% 0.02% 11.0g/t
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349.3m 364.4m 15.1m 1.40% 0.03% 10.2g/t
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incl 349.3m 349.8m 0.5m 9.40% 0.03% 31.0g/t
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incl 351.8m 352.8m 1.0m 1.24% 0.20% 10.7g/t
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573.4m 573.9m 0.5m 1.34% 0.77% 10.2g/t
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Skyharbour has now completed 14 holes in its Phase 1 drill program on its South Bay property. Due to a serious back log of samples waiting assaying, the Company has halted the drill program at this time. Once all ICP data has been collected for all samples outstanding from all completed drill holes and data has been compiled and processed, the Company will initiate a phase 2 diamond drill program.

Skyharbour has contracted to JVX geophysics to conduct a down hole geophysical survey on holes drilled in the phase 1 program. The down hole electrical survey will identify conductive features (sulfides) off the axis of the drill holes and give direction and distance to the strongest portions of the sulfide bodies. The down-hole geophysical responses will be integrated with geological and rock geochemical data and used to target drill holes in the Phase 2 program.

Skyharbour Resources has now established 3 new enriched zinc zones within 500 metres of the shaft of the former producing South Bay zinc - copper mine. There has been no past exploration in these areas at the depths that Skyharbour is now drilling.

In other News, Skyharbour's drill program in the heart of the Red Lake, Ontario gold camp is continuing. Skyharbour holds a 20% vested interest in the Broulan Reef property which is located "on strike" immediately adjacent to Gold Eagle Mines world-class Bruce Channel gold discovery on its northern boundary. Gold Eagle announced recently that Agnico Eagle Corp. is participating in the exploration program of GEA in the amount of approximately $50 million. This participation by Agnico Eagle lends very serious credibility to the viability of the worth of the Bruce Channel discovery area.

Skyharbour Resources and Cypress Development Corp. will supply an update from the field shortly on the ongoing drill program on their 20% / 80% owned Broulan Reef property.

Skyharbour Resources has approximately $3.0 million in working capital and no debt.

David J. Busch, B.A., B.Sc., PGeo., Vice President of Explorations, is the qualified person under the meaning of National Instrument 43-101 and has reviewed the data in this News Release.

About Skyharbour Resources Ltd.:

Skyharbour Resources Ltd. is a gold and base metal exploration company developing projects in the RED LAKE and RAINY RIVER districts 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

This news release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the British Columbia Securities Commission and the United States Securities & Exchange Commission.

The TSX Venture Exchange has not reviewed and does not accept 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: 1-800-567-8181
    (604) 687-3119 (FAX)
    or
    Skyharbour Resources Ltd.
    Don Myers
    Director
    (604) 687-3376 or Toll Free: 1-800-567-8181
    (604) 687-3119 (FAX)
    Email: info@skyharbourltd.com
    Website: www.skyharbourltd.com