Skyharbour Resources Ltd.
TSX VENTURE : SYH

Skyharbour Resources Ltd.

December 15, 2008 09:00 ET

Skyharbour Identifies 3 High-Priority Targets on South Bay Project, NW Ontario

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 15, 2008) - Skyharbour Resources Ltd. (TSX VENTURE:SYH) (the "Company") is pleased to announce the completion of a 3D down-hole Spectral IP/ Resistivity Survey and receipt of a comprehensive report on the Company's 100% owned 3200 aces South Bay zinc-copper project located in Dent township, Northwestern Ontario.

South Bay Claims Map, NW Ontario:

http://www.skyharbourltd.com/s/Image.asp?i=maps/SYH_South_Bay_Map_new.jpg

The geophysical survey was conducted by JVX Ltd of Richmond Hill Ontario. The IP survey was carried out on nine holes drilled earlier this year, hole SB08-4, SB08-5, SB08-7, SB08-8, and SB08-10 to SB08-14, all situated in the Confederation Lake area, adjacent to the south of the past producer South Bay zinc-copper mine (Selco), which produced 1.6 million tons of ore grading 2.3% Cu, 14.5 % Zn and 3.5 oz Ag.

The fall 2008 geophysical survey has identified three high priority targets in 3D conductivity and chargeability model plots at vertical depths from approximately 300 metres to 450 metres. Skyharbour is now integrating all data, including geophysics, geochemistry, and geological information to establish viable drill targets. The newly identified high priority target areas will potentially see an exploration program in the first two quarters of 2009. Exploration will now focus on expanding the area of mineralization to identify richer portions of the system. The possibility of identifying parallel zones is also a potential being discerned from the Spectral IP / Resistivity survey data. The new mineralized zone is distinctly exhalite in origin and is very fine grained with fine bedding and some chert beds. These features suggest that the mineralization seen to date is on the apron, some distance (+- 200 metres) from a potential vent area where zinc and copper grades are generally much higher.

Skyharbour believes that with current geophysical survey methods allowing exploration to depths in excess of 1000 metres, there is significant potential to identify new, highly prospective precious and base metal settings on the South Bay property.

The Company announced (see April 3, 2008 news release) it has made, what appears to be, a significant discovery of volcanogenic massive sulphides (VMS) mineralization in an area that has never been drill tested in the past, approximately 500 metres to the south-west off the former South Bay Mine shaft. While drill testing Titan 24 geophysical anomalies on the property, Skyharbour identified several massive sulphide zones. The discovery of VMS style zinc mineralization in a totally unexplored portion of the South Bay stratigraphy is considered to be highly significant. Exploration is currently focused on expanding the area of mineralization to identify richer portions of the system. The area of the Skyharbour discovery is marked by a large and discrete sodium depletion zone in rocks that typically characterize VMS deposits.

The past producer South Bay (Selco) was mined to a vertical depth of 410 metres and explored to a depth of 600 metres between 1970 and 1982. The South Bay deposit is a classic Archean volcanic associated Massive Sulphide (VMS) system that is hosted in an area known as the Confederation Belt.

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 district 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
    (604) 687-3376 or Toll Free: 1-800-567-8181
    (604) 687-3119 (FAX)
    Email: info@skyharbourltd.com
    Website: www.skyharbourltd.com