ancouver, BC -- Skyharbour Resources Ltd. (TSX-V: SYH) (the "Company") announces that the 2007-2008 exploration program on its 20% owned, Cypress Development Corp. (TSX-V: CYP) 80% owned Broulan Reef gold project located in the Bruce Channel area, Red Lake, Northwestern Ontario is about to commence with the anticipated arrival of the deep penetrating diamond drill rig. The Broulan Reef gold project is situated along the Red Lake mine trend, west of Goldcorp's Red Lake and Campbell mines, and adjacent to the south of Gold Eagle Mines Bruce Channel discovery.
Click Here for Broulan Reef Red Lake Location Map
The rig, a JKS Boyles BBS -- 75 Diamond Drill, is capable of achieving drill hole lengths of up to 2400 metres. A drill contract has been awarded to Cabo Diamond Drilling, Kirkland Lake, Ontario. Cabo has informed Skyharbour that the drill rig will be mobilized and drilling will commence on the Broulan Reef project at the beginning of October 2007. Skyharbour anticipates the drilling of 2 mother holes with several diverging holes to be wedged off each of the main holes. The Company intends to drill up to 10,000 metres with this Phase 1 deep drill program. A budget of $2.5 million dollars has been allotted for the completion of the Phase 1 of the deep penetration drill program on the Broulan Reef acreage over a 12 to 18 month period.
The target for the 2007-2008 deep drill program will be the Balmer Assemblage rocks underlying the Bruce Channel sediments, as established during the 2006 summer-fall drill program on the Broulan Reef project. Dips within the Bruce Channel rocks on the west limb of the broad nose fold are approximately 45 degrees to the west .The shallow dipping unconformity has very significant implications for the Broulan Reef property. With known points of elevations of the Balmer Assemblage surface, it is projected that this rock type horizon will be at an inferred vertical depth of between 900 metres on the eastern edge of the property and 2000 metres on the western part of the property. At these depths, targets in the Balmer Assemblage rocks are within explorable and exploitable range over most of the property.
The Balmer Assemblage rocks beneath the Bruce Channel sediments represent a highly prospective setting to host high-grade gold mineralization similar to several mines in the immediate area and to recent, near-by discoveries in the Balmer Assemblage rocks (Gold Eagle Mines etc.). General structural orientations, north-northeast, indicate the structural trend being successfully drill tested by Gold Eagle Mines at this time continues on the Broulan Reef property.
Click Here for Broulan Reef 1st Deep Drill Hole Location Map
The Balmer Assemblage is the known host rock for the gold deposits that are being discovered by Skyharbour's neighbors, Gold Eagle Mines, Goldcorp and Premier Gold. The Balmer Assemblage is the known host environment for the gold that is produced in Red Lake by Goldcorp, perhaps the richest gold mine known in the world today. The same geological horizon, Balmer Assemblage that is being seen in the Gold Eagle Mines drilling is known to exist on the Skyharbour Broulan Reef property (2006 summer-fall drill program).
The Company believes that every opportunity exists on the Broulan Reef claims to encounter the extension of the Gold Eagle Mines deposit now being discovered / delineated in the Bruce Channel. Gold Eagle Mines adjoins the Broulan Reef project on our immediate north boundary. Goldcorp / Premier Gold adjoin the Broulan Reef project on our east boundary with their Rahill-Bonanza project. Gold Eagle, and Goldcorp / Premier Gold continue to drill just to the north and east of Skyharbour's property with very impressive results released to date.
Skyharbour's joint venture partner, Cypress Development, has now completed the establishment of an all weather access road right-of-way to the drill site for the next several holes to be completed on the Broulan Reef property. The Company has received permission from Goldcorp to access the drill site area across their patented ground. Cypress also has made arrangements to access its patented mining claim KRL 41962 on the east side of the Bruce Channel by crossing private surface rights held by Sandor Red Lake Limited and Minnie-Bowman Surveying Ltd, two private Ontario companies. Cypress Development now has the ability to access the deep hole drill site for the next 18 months. As consideration, Cypress Development will issued Sandor Red Lake Limited and Minnie-Bowman Surveying Ltd a total of 200,000 shares of Cypress Development Corp. shares upon TSX Venture Exchange approval.
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 and RAINY RIVER districts 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
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
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.