5900 ft. diamond drill program completed on HB Property

February 26, 2004

Skyharbour Resources (the operator) announces that a 5900 foot diamond drill program has been completed on the Skyharbour Resources Ltd (51%) / ITL Capital Corp (49%) joint venture HB property in the Red Lake area of northwestern Ontario. A high-grade gold intercept (59.4 grams /ton over 0.4 meters) that was associated with a brecciated, hematite-epidote altered system was encountered in a drilling program conducted on the HB property in 2003.

The 2003/2004 winter drill program was designed to significantly expand the extent of the alteration system delineated in the 2003 summer drill program, and to define areas of higher gold accumulations within this altered zone. Although no significant gold values were encountered in this most recent drill program the alteration system was significantly expanded.

The extensive and continuous nature of the alteration system has resulted in a redistribution of a number of elements on a very large scale. Data from the recent drilling program is being compiled and evaluated to identify targets for a further exploration program.

David J. Busch B.A. B.Sc. (hons.) P.Eng. is the qualified person, under the meaning of National Instrument 43-101, and has reviewed the data acquired on the HB Property.

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