Vancouver, BC - Skyharbour Resources Ltd. (TSX-V: SYH) (the "Company") announces that it has arranged a non-brokered private placement of up to 5,000,000 flow-through units at a price of $0.05 per unit.
Each flow-through unit consists of one flow-through common share and one non-transferable share purchase warrant (the "Warrant"). Each Warrant entitles the holder to purchase a non flow-through common share (the "warrant shares") of the Company at a price of $0.10 per warrant share for a period of two years from the date of closing of the private placement.
The Company may pay up to a 7% finder's fee in cash and/or non-flow-through units in connection with part of this private placement offering.
The Company intends to utilize the proceeds from the private placement on the Company's continuing winter drill program on its Broulan Reef gold project located in Red Lake, northwestern Ontario.
The private placement is subject to the acceptance of the TSX Venture Exchange.
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.
To find out more about Skyharbour Resources Ltd. (TSX-V: SYH), visit the Company's website at www.skyharbourltd.com
ON BEHALF OF THE BOARD OF DIRECTORS
JAMES G. PETTIT
For further information contact myself or:
Skyharbour Resources Ltd.
Toll Free: 800-567-8181
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.