Geophysical survey completed on the jointly-held HB property

August 21, 2003

Skyharbour (the operator) is pleased to announce that a magnetometer and gradiometer geophysical survey performed on the jointly held HB Property is now complete. The Company established a 45 km grid on the property and then proceeded to conduct a detailed geophysical program over the previously known mineralized zones. The data obtained from this survey will help to further delineate proposed drill targets for the upcoming phase 2 of drilling.

The previous phase of drilling on the Heyson Project in June 2003 intersected several zones of gold mineralization while drilling the Sully Creek Till Anomaly. The most notable intersection of gold concentration consisted of a high grade zone of 59.4 grams over 0.4 meters situated in quartz veining located in a highly altered zone of fracturing and brecciation. This zone of alteration is approximately 15 meters thick. The companies have been very encouraged with the results of the assays that have been encountered to date in their preliminary round of drilling.

The Company's next phase of drilling is set to commence by August 24, 2003. This program will consist of up to 1500 meters of drilling to test the extension of the high grade zone as well as to test potential new targets as identified by surface geology and the magnetic survey.

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