Skyharbour Resources Ltd.
TSX VENTURE : SYH

Skyharbour Resources Ltd.

November 08, 2006 09:00 ET

Skyharbour Resources Ltd.: Shares Issued for South Bay Copper-Zinc Project

Work Program to Begin Shortly

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 8, 2006) - Skyharbour Resources Ltd. (TSX VENTURE:SYH) (the "Company") announces that it has issued 50,000 common shares in connection with its previously announced option to earn a 100% interest in four claim blocks consisting of thirty five units (approximately 1,400 acres) located in the Dent and Agnew Townships, Red Lake District, Kenora Mining Division, Ontario. The new claims are contiguous to, and formed the core portion of the Company's now 2,360 acres South Bay properties.

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

The Option Agreement was accepted by the TSX Venture Exchange on November 02, 2006. The shares will be subject to a hold period and shall not trade before March 07, 2007.

The South Bay properties cover the South Bay copper / zinc deposit and adjoining ground. The South Bay deposit was mined by Selco between 1970 and 1982 and produced approximately 1.6 million tons of 1.5% copper and 10% zinc.

Skyharbour Resources believes there is significant potential to identify new deposits on these properties. The known deposits are within a large area of sodium depletion in acid volcanic rocks. This alteration crosscuts stratigraphy. The western margin of the alteration coincides with a major lithological break between acid and mafic volcanics and is the principle target area. Current geophysical methods allow exploration to depths of up to 1000 metres, opening up a very large prospective area for further exploration. The Company will be initiating a detailed geophysical work program shortly to further enhance the known conductors on the South Bay claims in preparation for a diamond drill program in early 2007.

About Skyharbour Resources Ltd.:

Skyharbour Resources is a mineral exploration company that focuses on the acquisition and exploration of projects in Northwestern, Ontario. The Company has options or interests in 7 gold or base metal properties located in the Red Lake greenstone belt.

To find out more about Skyharbour Resources Ltd. (TSX.V: 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: (800) 567-8181
    (604) 687-3119 (FAX)
    or
    Skyharbour Resources Ltd.
    Don Myers
    VP Corporate Communications
    (604) 687-3376 or Toll Free: (800) 567-8181
    (604) 687-3119 (FAX)
    Email: info@skyharbourltd.com
    Website: www.skyharbourltd.com