Red Lake, Northwestern Ontario
Skyharbour Resources Ltd. (the Company) announces it has completed a total of 1,464 metres of drilling in 6 diamond drill holes on the Company's 2,400 acres Sidace Lake property located in Red Lake, northwestern Ontario that is jointly held by Skyharbour Resources (SYH 70%) and Consolidated Abaddon Resources Inc. (ABN 30%). Extensions to the Sidace lake volcanic stratigraphy were intersected in this second phase of 2004 drilling. Quartz veining and limestone intersected in SL04-7 were barren and no gold values of consequence were encountered in any of the drilling.
Skyharbour Resources announces that it intends to continue in January 2005, with a drill program on its 5,100 acres Red Lake McKenzie Island property jointly held by Skyharbour Resources (SYH 20%) and Cypress Development Corp. (CYP 80%).
The Company's McKenzie Island property is adjacent and to the west of the drill program currently underway on the Sabina/Wolfden Newman-Madsen property, and west and adjacent to a major drill program to begin in January on the Southern Star/Exall Gold Eagle property (see their news release Dec. 21, 2004). It is assumed that the granodiorite structure that is being methodically drilled by Southern Star/Exall has the potential to continue to extend to the west onto the Skyharour/Cypress property.
Skyharbour Resources Ltd. announces it has issued 25,000 common shares in connection with the Company's fourth tranche issuance pursuant to the terms of an Option Agreement dated November 22, 2001 wherein the Company has been granted an option to earn a 100% interest in and to the Slate Bay property located in Red Lake, Ontario. The shares will be subject to a hold period and shall not trade before April 11, 2005.
The Company also wishes to announce that the option agreement to earn a 100% interest in the Uchi Lake Project, consisting of 6 mineral claims located in the Dent, Agnew and Uchi Townships, Red Lake, Ontario, has been terminated.
Skyharbour Resources is a mineral exploration company that focuses on the acquisitions of and exploration of gold projects in Northwestern, Ontario. It has options or interests in 8 mineral properties totaling approx. 26,500 acres located in the Red Lake greenstone belt.
ON BEHALF OF THE BOARD OF DIRECTORS
DONALD C. HUSTON
For further information contact myself or:
Skyharbour Resources Ltd.
Toll Free: 800-567-8181
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.