Skyharbour Increases Interest in HB Heyson Property, Red Lake, Ontario
May 20, 2004
Pursuant to the terms of the Option and Joint Venture Agreement between ITL Capital Corporation ("ITL") and Skyharbour Resources Ltd. ("Skyharbour") in connection with the HB Property located in the Heyson and Byshe Townships, Red Lake District, Kenora Mining Division Ontario (the "Property"), the parties recently agreed to dilute ITL's interest to offset ITL's expenditures incurred on the Property. As a result of the dilution, ITL Capital will hold a 39.03% interest and Skyharbour will hold a 60.97% interest in the property.
Skyharbour Resources Ltd. is a precious metal exploration and development company with land holdings in Red Lake, Ontario.
ON BEHALF OF THE BOARD OF DIRECTORS OF SKYHARBOUR RESOURCES LTD.
DONALD C. HUSTON
President
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