Non-Brokered Private Placement Filed

January 26, 2005

Further to its News Release of January 10th, 2005, Skyharbour Resources Ltd. (the "Company") announces that it has filed its 5,000,000 Non-Flow-Through Unit private placement application with the TSX Venture Exchange for final approval.

The Board of Directors announces an additional non-brokered private placement of up to 1,000,000 non flow-through units at a price of $0.05 per unit. Each non flow-through unit will consist of one non flow-through share and one share purchase warrant entitling the holder to purchase an additional non flow-through share at a price of $0.10 for a period of one year.

A finder's fee of up to 10% will be paid in connection with the private placement offering. The Company intends to utilize the proceeds from the private placement for general working capital purposes.

Skyharbour Resources Ltd. announces that the Company will not be proceeding with its 1,000,000 Flow-Through private placement also announced by news release dated January 10, 2005.

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 8 mineral properties located in the Red Lake greenstone belt.


"Donald C. Huston"


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.

The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of the content of this news release.

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