Vancouver, BC -- Skyharbour Resources Ltd. (TSX-V: SYH) (the "Company") is pleased to announce that it has raised an additional $894,750 and closed its flow-through unit private placement announced by news release dated June 29, 2007. The Company issued 5,965,000 flow-through units at a price of $0.15 per unit. Each flow-through unit consists of one flow-through common share at a price of $0.15 and one share purchase warrant entitling the holder to purchase one non flow-through common share at a price of $0.15 per share if exercised prior to 5:00 p.m. (Vancouver Time) July 31, 2008.
As a finder's fee in connection with the transaction, the Company paid the sum of $4,668.75 and has issued a further 306,818 units, each consisting of one non flow-through common share and one share purchase warrant, having the same terms and conditions as the warrants referred to in the foregoing.
The common shares and warrants issued under the placement and any shares issued pursuant to the exercise of the share purchase warrants, are subject to a four month hold period under applicable securities laws, and imposed by the TSX Venture Exchange, expiring December 2, 2007.
The Company intends to utilize the proceeds from the private placement on its Rainy River, Southbay, and Broulan Reef properties in Ontario.
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.
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
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.