Amended South Bay Property Option Agreement
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
NEWS RELEASE
February 5, 2010
Amended South Bay Property Option Agreement
Vancouver, BC - Skyharbour Resources Ltd. (TSX-V: SYH) (the “Company”) announces it has amended its Property Option Agreement with Precambrian Ventures Corp. wherein the Company has been granted an option to acquire a 100% interest in 10 claims blocks consisting of 20 units (approx. 800 acres), located in the Dent and Mitchell Townships in the Red Lake District and forms part of the Company’s 3,200 acre South Bay project in northwestern Ontario.
South Bay Claims Map, NW Ontario:
The Company has made its final share issuance of 150,000 common shares of Skyharbour Resources to Precambrian Ventures Corp. in connection with its Property Option Agreement dated December 1, 2006.
Pursuant to the terms of the Amended Agreement, the Company will defer its final cash payment of $22,500 until such time as Skyharbour commences its exploration program on the South Bay Project or, enters into any option or assignment agreement with a third party, or December 1, 2015.
The common shares issued are subject to a four month hold period under applicable securities laws, and imposed by the TSX Venture Exchange, expiring May 29, 2010.
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 Skyharbour Resources Ltd.
Director
Telephone: 604-687-3376 Toll Free: 800-567-8181 Facsimile: 604-687-3119 Email: [email protected]
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