Shareholder Updates

Drilling Update on Broulan Reef / Bruce Channel, Red Lake Project, Ontario

Feb 11, 2009

Hole BR08-02 was @ 2101 metres this morning. 
Dip of hole 72.5 degrees and the Azimuth is 267 degrees.

Chibougamau drilling achieved approximately 180 metres with the last drill bit. The company is pleased with the progress of the drilling to date. Machinery and manpower continue to work well. Rock has softened somewhat and is allowing for good metre production.

Of Note re: Broulan Reef drilling since January 15, 2009; 

- Definitive rock change in the Balmer Assemblage since approx. 1800 metres.
- Mafic / Ultramafic rocks with Breccia zones contained within (loose breccia formation has allowed for good fluid flow).
- Moderate alteration with sulfides (+ 5%).
- Foliation of rock is increasing. 
- Pervasive silicate flooding throughout.........important!
- Abundant calcite observed......rocks are also chloritic. 
- Biotite ...(a dark brown mineral) has been observed in different sections of the core (an important and reliable indicator).
- Iron carbonate also evident in sections. 

Cypress / Skyharbour have now encountered a felsic dyke (thrust) / or shear approximately 3 - 4 metres wide at a depth of about 2040 metres down hole.
This is interpreted to be the same Thrust / or Shear as seen on the Gold Eagle and Cochenour Mine properties. 

Many holes on Gold Eagle have drilled through this same felsic dyke thrust / shear into a very favorable geological setting.

The foot wall (below) of the thrust is known to be a major host area for gold at the past producer Cochenour Mines and the Gold Eagle property.

MANAGEMENT OF CYPRESS / SKYHARBOUR CONSIDER ALL OF THE ABOVE GEOLOGY MOST IMPORTANT FOR THE SUCCESSFUL INTERSECTING OF STRUCTURES CARRYING GOLD ON THE BROULAN REEF.

These above geological features are all very good marker horizons in determining where, and if, ore is contained here on the Broulan Reef.

We are seeing the same rocks to the Gold Eagle / Bruce Channel formation and the Finn Zone formation (and in the proper sequences).

This must bode well for CYP / SYH.

One must have ALL the right ingredients to bake a cake properly, "this rule never ever changes".

This is all very good news for the success of this drill program.

Don Huston
President 
Skyharbour Resources Ltd