VANCOUVER, BC, May 6, 2008 -- Skye
Resources Inc. (“Skye”) (TSX:SKR) announced that Ian Austin has resigned his position as a director
of Skye effective April 30, 2008.
“Under Ian’s leadership, Skye acquired the
Fenix Project in Guatemala and has moved it forward from 2004 to the pre-construction
stage today,” said Colin K. Benner, Skye’s Chief Executive Officer.
“The project is now the furthest advanced brownfield ferro-nickel project
in the world and we
remain confident that we can move it forward into production.”
About
Skye
Skye is an international
mining company focused on becoming a mid-tier nickel producer. Skye acquired the rights to its Guatemalan lateritic
nickel project (the Fenix project) in December 2004 and in October 2006
completed a feasibility study for a ferro-nickel project at Fenix using proven
conventional smelting technology. In 2007 Skye received its environmental
permits for the project, completed basic engineering and filed a Technical
Report. Skye is preparing to initiate construction once financing is in
place. www.skyeresources.com
Cautionary Notice: This news release
contains certain forward-looking statements that involve risks and
uncertainties, such as statements of Skye’s plans, objectives,
strategies, expectations and intentions. The words “may”,
“would”, “could”, “will”,
“intend”, “plan”, “anticipate”,
“believe”, “estimate”, “expect” and similar
expressions, as they relate to Skye, or its management, are intended to
identify such forward-looking statements. Many factors could cause
Skye’s actual results, performance or achievements to be materially different
from any future results, performance or achievements that may be expressed or
implied by such forward-looking statements. Forward-looking statements
may include estimates of future production, construction schedules,
construction cost estimates and timing of commencement of operations, and are
based on current expectations and beliefs concerning future developments and
their potential effects on Skye. Factors that could cause actual results
to differ materially from any forward-looking statement include, but are not
limited to failure to construct the mine facilities in the time frame and
within estimated costs as currently planned; variations in capital and
operating costs from estimated costs; unavailability of key personnel, skilled
labor, supplies, equipment, machinery, parts, contractors and necessary
components of Skye’s project; inability to obtain financing on
commercially suitable terms; delays in obtaining or failures to obtain required
governmental, environmental or other project permits, licenses or approvals; failure
to build and maintain good relationships with the local community; illegal land
occupations; civil disturbances; changes in the regulatory environment;
unforeseen geological, physical or meteorological conditions; natural
disasters; labor shortages or stoppages; industrial disputes; inflation;
changes in exchange rates; political factors; fluctuations in commodity prices;
and other factors including those described under the heading “Risk
Factors” in Skye’s most recent Annual Information Form filed on
Sedar. The forward-looking statements included in this news release
represent Skye’s views as of the date of this news release. While
Skye anticipates that subsequent events and developments may cause its views to
change, it specifically disclaims any obligation to update these
forward-looking statements. These forward-looking statements should not
be relied upon as representing its views as of any date subsequent to the date
of this news release. All subsequent written and oral forward-looking
statements attributable to Skye or persons acting on its behalf are expressly
qualified in their entirety by this notice.
FOR
FURTHER INFORMATION PLEASE CONTACT:
Cindy Burnett
Vice President, Investor
Relations
Tel: (604) 648-4133
cburnett@skyeresources.com