VANCOUVER, BC, May 20, 2008 -- Skye Resources Inc. (“Skye”) (TSX:SKR) announces the
retirement of David Huggins, Chief
Operating Officer.
“David has
had an absolutely exceptional international career in the nickel, copper and
gold industries,” said Colin K. Benner, Skye’s Chief Executive
Officer. “He has made a significant contribution to the advancement
of the Fenix Ferro-Nickel Project through his leadership of the development
team, including the postponment of his retirement to support Skye through its
recent management transition.”
Mr. Huggins will
remain available to Skye in a consulting capacity to assist on special
assignments until mid-August.
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 except as required by law. 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