Skyharbour Resources Ltd.
TSX VENTURE : SYH

Skyharbour Resources Ltd.

May 31, 2011 13:15 ET

Skyharbour Resources Arranges Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 31, 2011) -Skyharbour Resources Ltd. (TSX VENTURE:SYH) (the "Company") announces that that it has arranged a non-brokered private placement of up to 2,000,000 units at a price of $0.095 per unit.

Each unit consists of one common share and one non-transferable share purchase warrant (the "Warrant"). Each Warrant entitles the holder to purchase a common share (the "warrant shares") of the Company at a price of $0.125 per warrant share for a period of three years from the date of closing of the private placement.

There will be no finder's fee payable in connection with this private placement offering.

The Company intends to utilize the proceeds from the private placement for general working capital.

The private placement is subject to the acceptance of the TSX Venture Exchange.

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

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

Contact Information

  • Skyharbour Resources Inc.
    Donald C. Huston
    President
    604-687-3376 or Toll Free: 800-567-8181

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