Skyharbour Resources Ltd.
TSX VENTURE : SYH
PINKSHEETS : SYHBF

Skyharbour Resources Ltd.

August 19, 2013 14:31 ET

Skyharbour Resources Arranges Additional Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 19, 2013) - Skyharbour Resources Ltd. (TSX VENTURE:SYH) (PINKSHEETS:SYHBF) (the "Company") announces it has arranged a non-brokered private placement for an additional $75,000 by the issuance of 937,500 flow-through common shares (the "FT common shares") of the Company at an issuance price of $0.08 per FT common share. Each FT Unit will consist of one flow-through common share and one non-transferable non flow-through warrant (the "NFT Warrant"). Each NFT Warrant will entitle the holder to purchase one non flow-through common share at a price of $0.10 for a period of twenty-four months from the closing date of the private placement.

There will be no finder's fee paid in connection with the private placement offering.

Skyharbour Resources intends to utilize the additional proceeds from the private placement for the continuing exploration program on its Athabasca Basin, Saskatchewan uranium properties. With a recent financing that closed August 15th, Skyharbour has $1.3 million in its treasury and is fully financed to meet its work obligations.

The Company also announces that pursuant to its stock option plan, Skyharbour has granted incentive stock options to its various directors, officers, employees, and consultants to purchase up to an aggregate of 531,250 common shares in the capital stock of the Company, exercisable for a period of five years, at a price of $0.10 per share. The Company's 10% rolling stock option plan was approved by the shareholders at the Annual General Meeting of the Company held on August 22, 2012. These options are subject to a four-month hold period.

About Skyharbour Resources Ltd.:

Skyharbour Resources Ltd. is a uranium exploration company and a member of the Western Athabasca Syndicate which controls a large, geologically prospective land package consisting of five properties (709,513 acres) in the Athabasca Basin of Saskatchewan. The Company's goal is to increase shareholder value through new discoveries and developing exploration projects in geopolitically favorable jurisdictions. The Company has 41.2 million shares outstanding.

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

Jordan P. Trimble, President and CEO

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

This release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.

Contact Information

  • Skyharbour Resources Ltd.
    Jordan P. Trimble
    President and CEO
    604-687-3376 or Toll Free: 800-567-8181
    604-687-3119 (FAX)

    Skyharbour Resources Ltd.
    Don Myers
    Director
    604-687-3376 or Toll Free: 800-567-8181
    604-687-3119 (FAX)
    info@skyharbourltd.com
    www.skyharbourltd.com