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Skyharbour Resources Ltd. is a uranium and precious metal exploration company actively involved with the development of projects in one of the most active uranium exploration regions in the world, the Athabasca Basin, Saskatchewan.

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Message: Skyharbour to Sell to MPH Ventures Additional 11% in Red Lake Gold Property
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Skyharbour to Sell to MPH Ventures Additional 11% in Red Lake Gold Property

posted on Dec 12, 2008 04:25AM
December 12, 2008
Skyharbour to Sell to MPH Ventures Additional 11% in Red Lake Gold Property, NW Ontario
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 12, 2008) - Skyharbour Resources Ltd. (TSX VENTURE:SYH) (the "Company") announces the sale to MPH Ventures Corp. (TSX VENTURE:MPS) of a further 11% interest in its Heyson gold property located in Red Lake, Northwestern Ontario. This will now create a 50% / 50% joint venture on the Heyson project between Skyharbour Resources and MPH Ventures. For consideration, MPH Ventures will pay Skyharbour Resources Ltd. 500,000 shares of MPH Ventures. The 7,000 acres Heyson property lies in the southern portion of the central Red Lake gold belt, 5 km south of the operating Goldcorp Red Lake and Campbell gold mines.

Location Map of the Heyson Property in Red Lake, NW Ontario:
http://www.mphventurescorp.com/s/Ima...

A previous till sampling program on the Heyson property undertaken by and Skyharbour and MPH Ventures identified areas on the property that might host significant gold mineralization. The companies identified a large, well-defined "gold-in-till" anomaly (Sully Creek Till Anomaly) on the property. The width of the anomaly covers 350 metres along a strike length of 1.5 kilometres. Sampling indicates the source of the gold-in-till anomaly is on the property. Past drilling by Skyharbour Resources and MPH Ventures tested the Sully Creek Till Anomaly and identified gold values within a distinct hematite-epidote alteration system with the most significant intercept grading 59.4 grams per tonne Au over 0.4 metres.

The above transaction is subject to TSX Venture Exchange approval.

About Skyharbour Resources Ltd.:

Skyharbour Resources Ltd. is a gold and base metal exploration company developing projects in the RED LAKE district of northwestern Ontario, Canada.

To find out more about Skyharbour Resources Ltd. (TSX VENTURE:SYH), visit the Company's website at www.skyharbourltd.com.

ON BEHALF OF THE BOARD OF DIRECTORS

DONALD C. HUSTON, President
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