Previously Announced Private Placement Closes

February 7, 2005

The Company announces that it has closed its 5,000,000 unit non-brokered private placement announced by news release dated January 10, 2005. The Company issued 5,000,000 units at a price of $0.05 per unit. Each unit consists of one share and one share purchase warrant which entitles the holder to purchase an additional share of the Company at a price of $0.10 until February 1, 2006. In addition, the Company issued 105,000 units (on the same terms as the placee units), paid the sum of $5,250 and issued 25,000 share purchase warrants as finders' fees in this transaction. The shares and any shares to be issued upon exercise of the warrants will be subject to a hold period and shall not trade before June 2, 2005.

The placee units were issued to accredited investors, insider, William Trimble and the following progroup placees: Kerry Chow, Sean Fahy, Jeff Findler, Monty Sutton and Bill Whitehead.

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.


"Don 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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