Vancouver, BC -- Skyharbour Resources Ltd. (TSX.V: SYH) announces that since the beginning of January 2006, the Company has added approximately $1,040,500 through the exercise of share purchase warrants to its working capital. As a result of the various exercises, the Company now has 57,595,432 shares issued and outstanding and its fully diluted share capital is 73,974,975 shares.
The additional proceeds will be used for Skyharbour Resources ongoing drill programs in Red Lake, northwestern Ontario and for general working capital.
Skyharbour also announces that it inadvertently duplicated an announcement of the grant of options on January 16, 2006. The grant of options is as set out in its news release dated January 11, 2006.
Skyharbour Resources announces that pursuant to its stock option plan, the Company has granted additional incentive stock options to its various directors, officers and consultants to purchase up to an aggregate of 988,000 common shares in the capital stock of the Company, exercisable for a period of five years, at a price of $0.12 per share. The shareholders approved the Company's 10% rolling stock option plan at the Annual and Special General Meeting of the Company held on September 29, 2005. These options are subject to a four-month hold period.
About Skyharbour Resources Ltd.:
Skyharbour Resources Ltd. is a gold exploration company that focuses on the acquisition and exploration of projects in northwestern, Ontario. The Company has options or interests in 6 mineral properties 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.
VP Corporate Communications
Toll Free: 800-567-8181
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