Vancouver, BC - Skyharbour Resources Ltd. (TSX-V: SYH) (the "Company") announces the sale to MPH Ventures Corp. (TSX-V: MPS) of a further 11% interest in its Heyson gold property located in Red Lake, Northwestern Ontario. This will now create a 50% / 50% joint venture on the Heyson project between Skyharbour Resources and MPH Ventures. For consideration, MPH Ventures will pay Skyharbour Resources Ltd. 500,000 shares of MPH Ventures. The 7,000 acres Heyson property lies in the southern portion of the central Red Lake gold belt, 5 km south of the operating Goldcorp Red Lake and Campbell gold mines.
Click Here for Location Map of the Heyson Property in Red Lake, NW Ontario
A previous till sampling program on the Heyson property undertaken by and Skyharbour and MPH Ventures identified areas on the property that might host significant gold mineralization. The companies identified a large, well-defined "gold-in-till" anomaly (Sully Creek Till Anomaly) on the property. The width of the anomaly covers 350 metres along a strike length of 1.5 kilometres. Sampling indicates the source of the gold-in-till anomaly is on the property. Past drilling by Skyharbour Resources and MPH Ventures tested the Sully Creek Till Anomaly and identified gold values within a distinct hematite-epidote alteration system with the mostsignificant intercept grading 59.4 grams per tonne Au over 0.4 metres.
The above transaction is subject to TSX Venture Exchange approval.
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
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.