Vancouver, BC -- Skyharbour Resources Ltd. (TSX-V: SYH) (the "Company") announces that JVX Geophysics Ltd. has now mobilized a 3 man crew onto its 100% owned South Bay zinc--copper project located in Dent and Mitchell Townships, approximately 80 km east north-east of Red Lake, Ontario. The 3200 acre property includes the former South Bay zinc--copper mine (Selco) which produced 1.6 million tons of high grade ore.
Click Here South Bay Claims Map, NW Ontario
JVX Geophysics will conduct down-hole IP (induced polarization) probing on the reported holes drilled by Skyharbour through the winter and spring of 2008. The geophysical down-hole program will enable Skyharbour to discern and examine any massive sulphide zones that exist within a radius of approximately 100 metres of each of the 12 holes that were drilled on the mainland in the proximity of the past producing Selco South Bay Mine. The down-hole electrical survey will identify conductive features (sulfides) off the axis of the drill holes and give direction and distance to the strongest portions of the sulfide bodies.
The infield program will take approximately 3 weeks to complete with a comprehensive geophysical report to follow the field work. The down-hole geophysical responses will be integrated with geological and rock geochemical data and used to target drill holes in a Phase 2 program.
Upon the completion of the report, Skyharbour will prepare for a Phase 2 winter 2008/2009 drill program on its South Bay group of claims.
Skyharbour Resources has now established 3 new enriched zinc zones within 500 metres of the shaft of the former producing South Bay zinc -- copper mine. There has been no past exploration in this area at the depths that Skyharbour has drilled.
Skyharbour Resources has approximately $2.2 million in working capital and no debt.
David J. Busch, B.A., B.Sc., PGeo., Vice President of Explorations, is the qualified person under the meaning of National Instrument 43-101 and has reviewed the data in this News Release.
The Company announces that pursuant to its stock option plan, the Company has granted incentive stock options to its various directors, officers, management employees and consultants to purchase up to an aggregate of 689,382 common shares in the capital stock of the Company, exercisable for a period of five years, at a price of $0.13 per share. The Company's 10% rolling stock option plan was approved by the shareholders at the Annual General Meeting of the Company held on August 27, 2008. These options are subject to a four-month hold period.
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.
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.