Director Appointed, Geological Report Filed On SEDAR, Incentive Stock Options Granted
October 14, 2005
Skyharbour Resources Ltd. (the "Company") is pleased to announce that Amanda Chow has consented to act as a Director of the Company. Ms. Chow is a certified management accountant (CMA) and has worked with public companies during the last five years. The appointment to the Board of Directors is subject to the acceptance of the TSX Venture Exchange.
The Company announces that it has filed on SEDAR a Geological Report on the St. Paul's Bay Area of its McKenzie Island Property located in the Dome Township, Red Lake District, Kenora Mining Division in the Province of Ontario (the "McKenzie Property"). The Report was filed on SEDAR on October 14, 2005 and can be accessed on the SEDAR website at www.SEDAR.com
The McKenzie Property consists of 22 contiguous unpatented mineral claims, 136 units (2121 hectares) located in the Dome and Fairlie Townships, Red Lake District, Kenora Mining Division, Ontario. The Company holds a 20% interest and Cypress Development Corp. (TSX.V: CYP) owns an 80% interest in the McKenzie Property. Twelve Claims (62 Units) are subject to a 2% net smelter return royalty in favour of the original property vendors.
The Geological Report, dated June 6, 2005 (the "Report"), was prepared by David J. Busch, B.A., B.Sc. (hons.) PGEO, of Westshield Consulting Limited of Winnipeg, Manitoba. The Report documents and evaluates diamond drilling results in the St. Paul's Bay area on the McKenzie Property in the archean Red Lake belt of Ontario.
The Company announces that pursuant to its stock option plan; Skyharbour Resources has granted incentive stock options to its various directors, officers, management, and Company employees to purchase up to an aggregate of 951,642 common shares in the capital stock of the Company, exercisable for a period of five years, at a price of $0.10 per share. The shareholders approved the Company's 10% rolling stock option plan at the Annual and Special General Meeting of the Company held on September 29, 2005. These options are subject to a four-month hold period.
About Skyharbour Resources Ltd.:
Skyharbour Resources is a mineral exploration company that focuses on the acquisitions of and exploration of gold projects in Northwestern, Ontario. It has options or interests in 7 mineral properties located in the Red Lake greenstone belt.
ON BEHALF OF THE BOARD OF DIRECTORS
DONALD C. HUSTON
For further information contact myself or:
Skyharbour Resources Ltd.
VP Corporate Communications
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.