Vancouver, BC - Skyharbour Resources Ltd. (TSX-V: SYH) (the "Company") announces it has amended its Property Option Agreement with Precambrian Ventures Corp. wherein the Company has been granted an option to acquire a 100% interest in 10 claims blocks consisting of 20 units (approx. 800 acres), located in the Dent and Mitchell Townships in the Red Lake District and forms part of the Company's 3,200 acre South Bay project in northwestern Ontario.
Click Here for South Bay Claims Map, NW Ontario
The Company has made its final share issuance of 150,000 common shares of Skyharbour Resources to Precambrian Ventures Corp. in connection with its Property Option Agreement dated December 1, 2006.
Pursuant to the terms of the Amended Agreement, the Company will defer its final cash payment of $22,500 until such time as Skyharbour commences its exploration program on the South Bay Project or, enters into any option or assignment agreement with a third party, or December 1, 2015.
The common shares issued are subject to a four month hold period under applicable securities laws, and imposed by the TSX Venture Exchange, expiring May 29, 2010.
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.
ON BEHALF OF THE BOARD OF DIRECTORS
DONALD C. HUSTON
For further information contact myself or:
Skyharbour Resources Ltd.
Toll Free: 800-567-8181
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