May 29, 2007
JOINT NEWS RELEASE
100% Interest in Broulan Reef Gold Project Earned, Red Lake, Ontario
Vancouver, BC – Skyharbour Resources Ltd. (TSX-V:
SYH) and Cypress Development
Corp. (TSX-V: CYP) are pleased to announce they have received
notification that they have complied with the terms of the Broulan Reef
Option Agreement dated February 28th 2006, which have enabled them
to earn a 100% interest in the Broulan Reef property. The Broulan Reef
property ownership is Skyharbour 20% and Cypress 80%. To earn 100%, the companies
paid $80,000 and spent $1,150,000 in exploration, well in advance of the
three year term of the Option Agreement. The vendor has retained a 2% net
smelter return.
The
Broulan Reef property is located in the Bruce Channel area in the heart of
the Red Lake
gold camp of northwestern Ontario.
The acreage is comprised of 10 mineral claims (21 year renewable Leases with
the Ontario Government), situated adjacent to the south of Gold Eagle Mines
major drill program underway on their Bruce Channel gold discovery, and
adjacent to the west of the Goldcorp’s / Premier Gold’s promising
drill results on their Rahill-Bonanza project. Both of these
projects are the subject of ongoing exploration and delineation drilling.
Broulan Reef
Red Lake Map:
http://www.skyharbourltd.com/s/Image.asp?i=maps/CYP-McKenzie-Island-New-Map.jpg
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.
Cypress Development
Corp. is a gold and zinc exploration and development company with projects in
Red Lake, Ontario,
Canada, and Nevada, U.S.A.
To find
out more about Cypress Development Corp. (TSX-V: CYP), visit our website at www.cypressdevelopmentcorp.com.
ON BEHALF OF THE BOARD OF DIRECTORS
“Don Huston”
DONALD C. HUSTON
President
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