Skyharbour issues 100,000 shares to Cypress Development Corp.

May 20, 2003

Skyharbour Resources Ltd. ("Skyharbour") announces that it has issued 100,000 common shares pursuant to an Option Agreement dated May 14, 2002 between Skyharbour and Cypress Development Corp. The shares are subject to a hold period until the expiry of September 12, 2003.

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