SYH: TSX.V   $0.45 (+1.12%)
OTCQX: SYHBF  $0.33 (+1.98%)
SC1P: FRA   $0.29 (+2.27%)
SYH: TSX.V   $0.45 (+1.12%)
OTCQX: SYHBF  $0.33 (+1.98%)
SC1P: FRA   $0.29 (+2.27%)

News

Non-Brokered Private Placement Announced

Jan 10, 2005

The Board of Directors of Skyharbour Resources Ltd. (the "Company") wish to announce non-brokered private placement of up to 5,000,000 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.

The Company also announces a non-brokered private placement of up to 1,000,000 flow-through units at a price of $0.08 per flow-through unit. Each flow-through unit will consist of one flow-through common share and one share purchase warrant entitling the holder to purchase an additional non flow-through common 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 and to be expended on a work program to be carried out on the Company's McKenzie Island, Red Lake Property.

The above transaction is subject to TSX Venture Exchange approval.

About Skyharbour Resources Ltd.:

Skyharbour Resources Ltd. 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.

ON BEHALF OF THE BOARD OF DIRECTORS

"Don Huston"

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.