Skyharbour Resources arranges Private Placement

Suite 2230 – 885 West Georgia Street, Vancouver, BC, Canada, V6C 3E8 www.skyharbourltd.com

TSX-V Trading Symbol: SYH Telephone: (604) 687-3376 Email: [email protected] Facsimile : (604) 687-3119

May 31, 2011

NEWS RELEASE

Skyharbour Resources arranges Private Placement

Vancouver, BC - Skyharbour Resources Ltd. (TSX-V: SYH) (the “Company”) announces that it has arranged a non-brokered private placement of up to 2,000,000 units at a price of $0.095 per unit.

Each unit consists of one common share and one non-transferable share purchase warrant (the “Warrant”). Each Warrant entitles the holder to purchase a common share (the “warrant shares”) of the Company at a price of $0.125 per warrant share for a period of three years from the date of closing of the private placement.

There will be no finder’s fee payable in connection with this private placement offering.

The Company intends to utilize the proceeds from the private placement for general working capital.

The private placement is subject to the acceptance of the TSX Venture Exchange.

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-V: SYH), visit the Company’s website at www.skyharbourltd.com.

ON BEHALF OF THE BOARD OF DIRECTORS

“Don Huston”

Donald C. Huston President

For further information contact myself or:

Don Myers Director Skyharbour Resources Inc.

Telephone: 604-687-3376 Toll Free: 800-567-8181 Facsimile: 604-687-3119 Email: [email protected] NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.