July 10, 2008 NEWS RELEASE Skyharbour Announces Additional Assay Results from South Bay Mine Project, NW Ontario Vancouver, BC ? Skyharbour Resources Ltd. (TSX-V: SYH) (the ?Company?) announces additional assay results from its 100% owned South Bay Zinc ? copper ? silver project, located in Dent and Mitchell Townships, approx 80 km ease north-east of Red Lake , Ontario. The 3200 Acre property includes the former South Bay zinc ? copper mine (Selco) which produced 1.6 million tons of high grade ore. South Bay Claims Map, NW Ontario: http://www.skyharbourltd.com/s/Image.asp?i= maps/SYH_South_Bay_Map_new.jpg Skyharbour has encountered Volcanic Massive Sulphide (VMS) mineralization over significant intersections in its drill program. Assays have been received for holes SB08-09 through SB08-11and SB08-13. SB08-9 and SB08-10 had no significant mineralization. The Company continues to wait for assay results for holes #12 and #14. Significant mineralized zones have been identified in hole SB08-11 and SB08-13, which is reported below. These new intersections of mineralization are marked by a significant zone of sodium depletion encompassing the zinc mineralization and a rather large zone of magnesium enrichment flanking the zinc bearing zone. These 2 geological horizons are key indicators in establishing a high grade zone and stratigraphy. Hole # | From | To | Intercept | Zn | Cu | Ag | SB08-11 | 234.2m | 236.3m | 2.1m | 0.44% | 0.03% | 5.2g/t | | 336.3m | 353.6m | 17.3m | 0.60% | 0.02% | - | | 374.0m | 395.0m | 21.0m | 1.13% | 0.03% | - | Incl. | 374.0m | 375.0m | 1.0m | 1.34% | 0.02% | - | Incl. | 383.0m | 384.0m | 1.0m | 1.16% | 0.05% | - | Incl. | 387.0m | 388.0m | 1.0m | 1.70% | 0.03% | 0.5g/t | Incl. | 390.0m | 395.0m | 5.0m | 2.15% | 0.03% | 4.1g/t | | | | | | | | SB08-13 | 163.8m | 168.0m | 4.2m | 0.55% | 0.02% | 11.0g/t | | 349.3m | 364.4m | 15.1m | 1.40% | 0.03% | 10.2g/t | incl | 349.3m | 349.8m | 0.5m | 9.40% | 0.03% | 31.0g/t | incl | 351.8m | 352.8m | 1.0m | 1.24% | 0.20% | 10.7g/t | | 573.4m | 573.9m | 0.5m | 1.34% | 0.77% | 10.2g/t |
Skyharbour has now completed 14 holes in its Phase 1 drill program on its South Bay property. Due to a serious back log of samples waiting assaying, the Company has halted the drill program at this time. Once all ICP data has been collected for all samples outstanding from all completed drill holes and data has been compiled and processed, the Company will initiate a phase 2 Diamond drill program. Skyharbour has contracted to JVX geophysics to conduct a down hole geophysical survey on holes drilled in the phase 1 program. The down hole electrical survey will identify conductive features (sulfides) off the axis of the drill holes and give direction and distance to the strongest portions of the sulfide bodies. The down-hole geophysical responses will be integrated with geological and rock geochemical data and used to target drill holes in the Phase 2 program. Skyharbour Resources has now established 3 new enriched zinc zones within 500 metres of the shaft of the former producing South Bay zinc ? copper mine. There has been no past exploration in these areas at the depths that Skyharbour is now drilling. In other News, Skyharbour?s drill program in the heart of the Red Lake, Ontario gold camp is continuing. Skyharbour holds a 20% vested interest in the Broulan Reef property which is located ?on strike? immediately adjacent to Gold Eagle Mines (TSX: GEA) world-class Bruce Channel gold discovery on its northern boundary. Gold Eagle announced recently that Agnico Eagle Corp. has made a strategic investment in GEA in the amount of approximately $50 million. This participation by Agnico Eagle lends very serious credibility to the viability of the worth of the Bruce Channel discovery area. Skyharbour Resources and Cypress Development Corp. will supply an update from the field shortly on the ongoing drill program on their SYH 20% / CYP 80% owned Broulan Reef property. Skyharbour Resources has approximately $3.0 million in working capital and no debt. David J. Busch, B.A., B.Sc., PGeo., Vice President of Explorations, is the qualified person under the meaning of National Instrument 43-101 and has reviewed the data in this News Release. About Skyharbour Resources Ltd.: Skyharbour Resources Ltd. is a gold and base metal exploration company developing projects in the RED LAKE and RAINY RIVER districts of northwestern Ontario, Canada. To find out more about Skyharbour Resources Ltd. (TSX-V: SYH), visit the Company?s website at www.skyharbourltd.com. ON BEHALF OF THE BOARD OF DIRECTORS ?Don Huston?_________________________________DONALD C. HUSTONPresident |