Skyharbour Resources Ltd. (TSX-V: SYH) is a gold and base metal exploration company developing projects in the RED LAKE district of northwestern Ontario, Canada.

Early recognition of the significance of the 1995 high-grade Red Lake gold discovery by Goldcorp (which has now mined over 23 million ounces of gold at Red Lake) enabled Skyharbour's management to acquire strategically positioned land holdings, while land was still available. The Company holds various interests in 6 properties totaling 21,000+ acres located in the heart of the Red Lake gold camp.

Skyharbour's 20%-owned 5,400-acre Broulan Reef and McKenzie Island properties are located adjacent to the south and west of Goldcorp's Cochenour / Bruce Channel deposit (BCD), adjacent to the west of Goldcorp's / Premier Gold's Rahill-Bonanza gold project, and 5 km east of Goldcorp's operating Red Lake and Campbell gold mines.

Skyharbour has been aggressive with its exploration approach to its Broulan Reef gold project, which had never had any detailed exploration conducted until the Company acquired the ground in January of 2006. Skyharbour believes its property, adjacent to and on strike to Goldcorp's Gold Eagle Mines major Bruce Channel gold deposit to the north, is ideally located for the potential extension of this newly developed gold zone onto the Company's Broulan Reef ground. (more . . .)

Skyharbour's 100%-owned 3,200-acre South Bay copper-zinc-silver project covers the former South Bay copper-zinc-silver mine and is located 80 km east-northeast of Red Lake, Ontario. The former South Bay Mine produced 1.6 million tons of ore grading 2.3% Cu, 14.5% Zn, and 3.5 oz/t Ag (Selco 1978). (more . . .)

Skyharbour Resources Ltd.'s goal is to increase shareholder value by developing exploration projects near world-class deposits that have the potential of becoming new discoveries.

Donald C. Huston
Position: Director, President
Don Huston is the President and Chief Executive Officer of Skyharbour Resources Ltd. He has been associated with the mineral exploration industry for over 25 years and has extensive experience as a financier and in-field manager of numerous mineral exploration projects in North America. He was born and raised in Red Lake, Ontario and spent 15 years as a geophysical contractor with C.D. Huston & Sons Ltd. as mineral exploration consultants in northern Ontario, Manitoba, and Saskatchewan. Mr. Huston serves as a Director of 5 Canadian public resource companies.

Carl D. Huston, P.Eng.
Position: Director
Carl Huston has been a professional engineer in the Province of Ontario since 1970 and has an extensive background in mineral exploration in Northwestern Ontario. Mr. Huston has over 40 years experience in the field and has been a geological consultant in the Red Lake Mining District of Ontario for close to 30 years. Mr. Huston's extensive background includes ten years as Exploration Manager for the Dickinson Mine, which later became Goldcorp's Red Lake gold mine. His background also includes two years as the Chief Mining Recorder for the Province of Manitoba, and three years as Mine Manager for the Surluga Gold Mine near Wawa, Ontario. Mr. Huston provides Skyharbour with a wealth of knowledge and background relating to the Red Lake region.

Amanda Chow, CMA
Position: Director
Amanda Chow serves as an independent Director of Skyharbour Resources Ltd. Ms. Chow is a Certified Management Accountant (CMA) and a graduate of Simon Fraser University where she earned her Bachelor of Business Administration degree. She began working with public companies in 1999.

James G. Pettit
Position: Director
Jim Pettit is a Director of Skyharbour Resources Ltd. Mr. Pettit is currently serving as a Director on the Boards of 8 public resource companies and offers 15 years experience within the industry specializing in finance, corporate governance, management, and compliance. He specializes in the early stage development of private, as well as public companies. His background over the past 15 years has been focused primarily within the resource sector where he has managed and directed junior resource companies through good times and bad.

Donald G. Myers
Position: Director
Don Myers serves as a Director of Skyharbour Resources Ltd. He has over twenty years of experience in public company management and corporate communications working with companies listed on the TSX Venture, NASDAQ, and Toronto Stock Exchanges. Mr. Myers' background includes holding the position of Director and Officer at several junior public companies listed on the TSX Venture Exchange.

David Busch, B.A., B.Sc.(hons), P.Geo.
Position: Vice President of Exploration & Qualified Person
With over 30 years experience exploring northwest Ontario's gold belts, Dave Busch is considered one of Canada's foremost authorities on the geology and exploration of Archean lode gold deposits, particularly the Red Lake & Birch-Uchi greenstone belts. As Vice President of Exploration, Mr. Busch plans and actively manages all of Skyharbour's field operations from the Company's Red Lake base camp. He is the Company's qualified person as defined in National Instrument 43-101. Mr. Busch received his Bachelor of Arts Degree in 1970 and his Honors Bachelor of Science Degree in geology in 1974 from Lakehead University. He has held the positions of Field Geologist from 1974 to 1976 for Phelps Dodge Corp. of Canada, Project Geologist from 1976 to 1980 for Brinex Ltd., and Senior Project Geologist from 1980 to 1982 for Getty Canadian Minerals Ltd. Mr. Busch was directly involved in the discovery of the Courageous Lake gold deposit in the Northwest Territories while working for Getty. He has been an independent consulting geologist since 1982, and in 1986 planned and carried out exploration that resulted in the discovery of the Sannorm #1 gold deposit in the Rice Lake belt of Manitoba.

Nancy Ackerfeldt
Position: Corporate Secretary
Nancy Ackerfeldt has over twenty years of experience in public company administration and compliance, working primarily with junior public companies listed on the TSX Venture Exchange. From August 1995 to date, Ms. Ackerfeldt has been employed with 98 Corporate Group Resources Ltd., a private management and administrative services company which provides office space, accounting, legal, secretarial and support services to public companies.

Overview of the Red Lake Gold Camp

The Red Lake Area is one of the most prolific gold regions in the world. The area hosts several gold mines, where the combined production and remaining proven resources are more than 30 million ounces of gold. Initial gold production occurred at the Howey mine in 1930, and two mines (Campbell and Red Lake) remain in operation today. The largest mines historically are Placer Dome's Campbell Mine (cumulative production and remaining resources of 13 million ounces), Goldcorp's Red Lake Mine (10 million ounces) and the Madsen Mine (2.5 million ounces). Goldcorp's Red Lake Mine is adjacent to Placer's Campbell Mine, which Goldcorp acquired in 2006. The deposits that were mined by Placer and Goldcorp were interpreted to be portions of the same ore body. However, the deep high-grade zone of the Red Lake Mine continues to be one of the highest-grade deposits in the world, averaging more than 2.0 ounces of gold per ton.

Click here to read "The Goldcorp Story"

As a result of the proven potential of this gold camp and the continued excitement being generated by Goldcorp's Red Lake Mine, the Red Lake greenstone belt has attracted many firms, from senior producers to junior exploration companies, to stake and explore the district. Active major companies in Red Lake include Goldcorp, Placer Dome and Newmont. In addition, there are many junior exploration companies actively exploring the camp.

The Red Lake gold district is situated in the Red Lake greenstone belt, an Achaean series of metavolcanic and metasedimentary rocks. Most of the gold production in this district has come from structurally controlled vein-type gold deposits hosted in sequences of ultramafic mafic to felsic volcanics and sediments. Regionally, the belt exhibits a system of five northeast and northwest-trending deformation zones with associated hydrothermal alteration. All of the key producers in the district are located close to a regional mafic volcanic-sediment contact or 'break' — which for years may have been overlooked as an important control on gold mineralization.

Gold deposits in the district have been classified into three main categories: mafic volcanic-hosted; felsic intrusive-hosted; and, stratabound. The majority of the productive zones in the Red Lake camp, including the Campbell and Red Lake mines, are of the mafic volcanic-hosted type and occur as vein systems within a lower mafic to komatiitic and ultramafic volcanic sequence. Goldcorp's Red Lake Mine lies in the eastern section of the Red Lake Precambrian Greenstone Belt, an older assemblage of mafic and felsic volcanic rocks within a sedimentary sequence.

Major gold camps in the Timmins and Kirkland Lake areas of northeastern Ontario also show a close association with similar breaks. The Campbell, Red Lake and Cochenour Mines, the most prolific gold producers in the Red Lake district, are hosted by the northwest-trending Cochenour-Gullrock Deformation Zone and are situated within the well-established "mine trend" of the Red Lake gold district.

Skyharbour Resources Ltd. has acquired over 21,000 acres (7 properties) in the heart of the Red Lake gold camp, home to the prolific Goldcorp Red Lake and Campbell gold mines.

The Broulan Reef Property

In January of 2006, Skyharbour Resources Ltd. announced that the Company had acquired a 20% interest in the Broulan Reef property (claims # KRL 41961 to KRL 41970) located in the heart of the Red Lake gold camp in northwestern Ontario. The Broulan Reef property joint venture ownership consists of Cypress Development Corp. (TSX.V: CYP) having an 80% interest and Skyharbour Resources owning the remaining 20% interest.

The Broulan Reef property is comprised of 10 mineral claims situated adjacent to the south of Goldcorp's Cochenour / Bruce Channel deposit (BCD). The property is 5 miles due west of Goldcorp's (TSX: G) operating Red Lake and Campbell gold mines.

The Broulan Reef Property Location and the Adjacent Bruce Channel Discovery

Two of the main gold producing trends in Red Lake converge on the Broulan Reef property as identified by ground magnetic surveys. The property is located at the southern extent of the East Bay Deformation zone and at the west end of the Mine Trend Deformation zone that is host to the Goldcorp Red Lake Mine and Campbell Mine. The resulting structural complexities are likely to have produced numerous favorable depositional settings in this "gold prone" section of the Red Lake belt. The property also lies at the apex of a regional nose fold in the Bruce Channel sediments.

Both the Gold Eagle Mines property (Goldcorp) adjacent to the north and the Premier Gold Mines (TSX: PG) project located to the east have had significant discoveries made since 2005 in sedimentary rocks of the Bruce Channel and are the subject of ongoing exploration and delineation drilling.

The Bruce Channel deposit, located on Goldcorp's Gold Eagle Mines property, is situated along the prolific Red Lake Trend and is adjacent to the north of the Broulan Reef. The BCD is immediately southwest of Goldcorp's past-producing Cochenour-Willans Mine which produced approximately 1.2 million ounces of gold from 2 million tonnes of ore at a recovered grade of 18.5 grams gold per tonne.

Gold Eagle Mines Ltd. (TSX: GEA) did over 85,000 metres of diamond drilling on the Bruce Channel deposit. The discovery is located approximately 800 metres beneath the shallow Bruce Channel waterway that separates McKenzie Island from the mainland. The current "footprint" of the BCD mineralized envelope is 1.45 kilometres vertically and horizontally, approximately 800 metres in a NE-SW direction and 450 metres in a NW-SE direction. Based on the exploration work done to date, there is an estimated 8-13 million ounces of gold in the Bruce Channel deposit and the mineralized envelope remains open in all directions.

In September of 2008, Goldcorp Inc. announced it had acquired Gold Eagle Mines Ltd., valued at approximately $1.3 billion. Under the Plan of Arrangement, shareholders of Gold Eagle received at their election and subject to proration either C$13.60 in cash or 0.292 of a share of Goldcorp or any combination thereof for each Gold Eagle share they held. Gold Eagle's principal asset was the Bruce Channel gold discovery.

Exploration on the Broulan Reef Property

The Broulan Reef property had never had any detailed exploration conducted on it prior to Skyharbour Resources and Cypress Development acquiring the ground in January of 2006. Skyharbour has been aggressive in its exploration approach to the Broulan Reef project and believes the property, adjacent to and on strike to the major Bruce Channel gold deposit, is ideally located for the potential extension of this newly developed gold zone onto its Broulan Reef ground.

In April of 2006, Skyharbour announced its Phase 1 exploration program on its Broulan Reef property had been completed and results to date were highly encouraging. A structural / lithological framework was clearly identified from the ground magnetic data and a preliminary geological model emerged from the shallow diamond drilling.

Skyharbour Resources' Phase 2 drill program commenced in the summer of 2006 and consisted of two approximately 1,500 metre (5,000 feet) holes drilled deeper into the regional fold closures of the Bruce Channel sedimentary horizons.

This drill program identified a relatively shallow dip to the underlying Balmer Assemblage rocks and established that targets within the Balmer Assemblage rocks are within drill range. The Balmer Assemblage refers to the oldest rocks in the Uchi sub-province and "consists of basaltic tholeiite and komatiite flows with intercalated magnetite-quartz iron formation."

Low but widespread gold values were identified within structural features in the Bruce Channel rocks which are located above the prospective Balmer Assemblage rocks. A number of scattered short intercepts of between 0.2 and 2.35 grams per tonne gold were encountered in both holes including 0.45 grams per tonne between 1,256 and 1,269 metres in one of the holes.

The information gained from the 2006 Phase 2 drill program has been critical in evaluating deeper targets within favorable Balmer Assemblage rocks. Identified targets have structural links to gold bearing zones reported from Balmer Assemblage rocks immediately north on the Gold Eagle Mines property (Goldcorp).

With the drilling to date having encountered numerous gold bearing zones and with the ideal geological location of the property, there was significant potential that warranted a deeper 2008 Phase 3 diamond drill program.

The 2008 / 2009 Skyharbour Phase 3 deeper drill program, consisting of 2500+ metre holes, was first collared on Goldcorp's land to the east of the Broulan Reef property and was drilled out underneath the shallow waters of the Bruce Channel. This first deep drill hole consisted of a mother hole (BR08-3C) and two daughter or wedge holes (BR08-3D and BR08-3E) which are off-shoots from the mother hole.

In April of 2009, a new zone was intersected in the first wedge hole (BR08-3D) as it approached the north boundary of the Broulan Reef property. Skyharbour believes this is part of the north-south trending system that extends 2.5 kilometres from the Cochenour mine and includes the Bruce Channel and Finn gold zones bought by Goldcorp from Gold Eagle Mines Ltd. in 2008. The zone is very strong and distinct where intersected, and it consists of 14.2 metres (core length) of near solid quartz veining and an additional 27.5 metres (core length) of sheared and altered felsic porphyries. Visible gold was noted in this latter unit.

The most significant feature controlling gold mineralization in the Cochenour / Bruce Channel area of Red Lake is a shallow dipping thrust fault within the mafic / ultramafic volcanic rocks of the Balmer Assemblage. This fault strikes roughly east west and dips at 48 degrees to the southwest. It is known to be folded and faulted, is generally marked by silicification and has been intruded and flanked by a rhyolite dike. The thrust, accompanying alteration and rhyolite dike is referred to as the "Thrust Package". All significant gold found to date in the Cochenour / Bruce Channel area occurs immediately below this Thrust Package. The Thrust Package could be viewed as "Trap Rock" that has confined fluids below it. These fluids have severely altered the rock and resulted in gold being deposited along the footwall of the Thrust Package.

On the second wedge hole (BR08-3E) a zone from 2177.8 metres to 2181.9 metres returned 2.47 grams per tonne gold over 4.1 metres. This zone lies above the Thrust Package. A second zone from 2660 metres to 2661 metres returned 2.62 grams per tonne gold over 1 metre within a large zone of anomalous gold values from 2637 metres to 2665 metres. This second zone lies within the Thrust Package. Cypress has yet to drill a hole that fully pierces the Thrust Package in order to explore the prospective zone directly underneath the structure.

It has recently been ascertained that the Thrust Package occurs at shallower depths on the western part of the Broulan Reef property. By drilling from west to east it will allow more of the hole to test the stratigraphy immediately under the Thrust Package. In May of 2009, Skyharbour started Drill Hole BR09-1 from west to east from McKenzie Island and was designed to intersect the north-south shear/ breccia at nearly right angles. The location and dip of the hole was also designed to intersect the prospective north-south shear / breccia system below projections of the thrust package. The hole did exactly as planned and encountered the north-south shear / breccia at 2430 metres. The hole was still in the shear breccia system when technical difficulties forced the stoppage of drilling. Anomalous to highly anomalous (100 to 1000 ppb) gold values were continuous in the last 10 metres of the hole between 2776 and 2786 meters. Drill hole BR09-1 demonstrates that the north-south shear / breccia system has a strike length in excess of 2.5 kilometres and continues in size and strength well on to the Broulan Reef property.

The Red Lake gold camp is full of surprises as is illustrated by the Goldcorp acquisition of the Red Lake Mine in 1995 and by Gold Eagles' world class Bruce Channel discovery. The exploration activities of Skyharbour Resources in the Red Lake area has gotten some real "traction" with the acquisition of the Broulan Reef property and the type of targets that have been developed.

Skyharbour Resources Ltd. has a 20% interest in the 5,100-acre McKenzie Island Property with Cypress Development Corp. (80%). This property is located to the west and adjacent to Goldcorp's Cochenour / Bruce Channel Deposit. The McKenzie Island property is also on strike with the Goldcorp (TSX: G) Red Lake and Campbell mines seven kilometres to the east.

In addition to the Bruce Channel deposit, the Western Discovery Zone is yet another gold zone that has been found on Goldcorp's Gold Eagle property and is located on the western side of the property close to Skyharbour's McKenzie Island project. This zone has a strike length of over 1 kilometre in an east-west direction and has a width of 350 metres from north to south. The Cypress Development / Skyharbour Resources joint venture is of the opinion that there is potential for the extension of the Western Discovery Zone onto the McKenzie Island property.

Past Exploration and Drilling Completed on the McKenzie Island Property

An initial exploration program was completed on the property in 2002 by Skyharbour. This program consisted of data compilation, mapping, and geochemical and geophysical testing. This identified the highly prospective McAndrew gold / alteration trend extending across the centre of Skyharbour's McKenzie Island property — a comparable geological environment to the McKenzie Island Mine which historically produced 650,000 ounces of gold. As a result of this initial exploration phase, a first phase of drilling consisting of 13 holes totaling 6,828 feet (2,100 metres) to test targets identified during the 2002 exploration program was completed. In addition, overburden drilling totaling 2,990 feet tested the basal till at 133 sites in two areas on the property to identify new targets. Gold values were encountered along the McAndrew Trend on McKenzie Island as well as along the contact between the volcanics and sediments on the north part of McKenzie Island.

In May of 2004, the Company added an integral claim block to its existing land package. This acreage is situated in the middle of the held ground and now allows the Company to continue to follow another mile strike length of the known McAndrew geological trend.

In early 2005, 14 reconnaissance holes (approximately 3,300 metres) were also completed during Phase I and Phase II (February and April of 2005) diamond drill programs on the St. Paul's Bay region on the southern most portion of the McKenzie Island property to explore a district-scale west-northwest trending structure known as the "D2" Structure.

Significant zones of gold mineralization were discovered. The new zones are located in diamond-drill holes M05-3 through M05-7. In reconnaissance drill hole M05-3, visible gold has been identified within several centimetre-scale quartz veinlets with sample results showing numerous multi-gram intercepts with a high value of 23.8 grams per tonne gold over 0.2 metres. In reconnaissance drill hole M05-4, highly anomalous gold values up to 850 ppb have been intercepted over 60 metres. In reconnaissance drill hole M05-7, a 10-metre wide zone of gold mineralization was intersected in a zone hosted by quartz-sulfide veining and silica flooding within a strongly sericite altered felsic intrusive.

All of the intercepted zones of gold mineralization lie within a large (+1000 metres by +150 metres) envelope of quartz-sericite-chlorite alteration, which appears to be controlled by a district-scale, west-northwest trending D2 deformation zone. The strike length of the altered system has not been limited by the 2005 drill programs. The Company is encouraged with the results of the 2005 Phase I & II drill programs on the south portion of its McKenzie Island property.

Drill testing of two prospective target areas on the eastern portion of the Skyharbour's McKenzie Island claim group, adjacent to Goldcorp's Gold Eagle property, were completed in the winter of 2006. Three diamond drill holes were completed in areas where a significant angular unconformity has been projected. This unconformity appears to exert a strong regional influence on gold deposition including past gold produced from the McKenzie Red Lake Gold Mine and the Gold Eagle Mine east of the Skyharbour's property. The geologic corridor flanking this known unconformity is considered to be very prospective for gold deposition in the Red Lake gold camp.

Skyharbour Resources Ltd. remains convinced that there continues to be significant potential for the development of gold deposits on its McKenzie Island and Broulan Reef properties.

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