Results from HB reconnaissance drilling

July 31, 2003

Skyharbour Resources Ltd. (TSX-V: SYH) is pleased to announce that the recently completed drill program on the Heyson/Byshe (HB) Property has intersected zones of gold mineralization while drilling the Sulley Creek gold-in-till anomaly. Five holes (1100 Meters) were drilled to test this gold-in-till anomaly with the objective of gaining a better understanding of the local geology and structural controls that may be responsible for the high levels of gold found in the tills. This large till anomaly was defined by our 2002 till sampling program. Multiple bedrock sources along a 1.5 km strike length were interpreted. There were no verifiable gold occurrences in the area of the till anomaly prior to drilling. Rocks of the area are believed to be felsic volcanics and mafic intrusives of the Confederation assemblage.

To date, Skyharbour has completed 5 widely spaced reconnaissance diamond drill holes on the Property testing various parts of the eastern half of the till anomaly. Two of the five holes have encountered gold values over 0.5 grams per ton, one of which contained visible gold.

Hole H03-1 encountered 0.63 g/t Au over 1.3 meters. Values occur at the bottom of the hole in a zone of sulfide veins and veinlets in otherwise unaltered felsic volcanics.
Hole H03-3 encountered a high-grade gold intercept (visible gold) of 59.4 g/t Au over 0.4 meters. This intercept occurs in veining in a highly altered zone of fracturing and brecciation in the upper part of a shallow dipping diorite body. The alteration is approximately 15 meters thick. Alteration associated with the gold intercept in hole H03-3 is pervasive hematite-magnitite-epidote with extensive fracturing and brecciation. While not a common alteration associated with deposits in the Red Lake Camp, the alteration assemblage is typical of a number of gold mines in the Canadian Archean.

Hole H03-4 intersected 45 meters of 3% disseminated sulphides in felsic volcanics with slightly elevated gold values flanking a diorite intrusive body.


This discovery is the result of the rigorous application, by Skyharbour, of an exploration model as opposed to a geological model. "Gold is still where you find it and this applies to the gold prone Red Lake Camp as well," reports David Busch (PGeo) consultant to Skyharbour Resources Ltd.

Skyharbour President Donald Huston is extremely encouraged by the initial reconnaissance drill results. "Not only was the effectiveness of our exploration strategy confirmed but the strength of this new gold system is impressive."

A program consisting of a 43-kilometer ground grid is being cut over the area to be followed with geophysics. A future drill program is also planned to further test the extent of this new discovery zone and to follow up on the mineralized structures intersected in the initial drill program. This drill program is being planned for August 2003.

The HB Property drill results have been prepared under the guidance of David Busch, B.A., B.Sc. (hons.), P.Geo., chief geologist, who is designated as a Qualified Person with ability to verify the authenticity and validity of this data. All core samples were analyzed by TSL Laboratories of Saskatoon, Sask.

Skyharbour has a 51% interest and is operator of the HB project. ITL Capital has a 49% interest.

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responsibility for the adequacy or accuracy of the content of this news release.

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