Skyharbour Announces Warrant Extension Application

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan 5, 2015) - Skyharbour Resources Ltd. (TSX VENTURE:SYH) (OTC GREY:SYHBF) (FRANKFURT:SC1N) (the "Company") announces it has applied for TSX Venture Exchange approval to amend the term of warrants issued in connection with a private placement completed in January of 2012. Under the terms of the original private placement, the Company issued a total of 21,000,000 units at a price of $0.05 per unit. Each unit consisted of one common share and one share purchase warrant entitling the holder to purchase one additional common share at a price of $0.10 per share. The private placement closed in two tranches. 11,735,000 share purchase warrants had an expiry date of January 25, 2015 and 9,265,000 share purchase warrants had an expiry date of January 27, 2015. The Company has applied for approval to extend the exercise term for an additional two years.

About Skyharbour Resources Ltd.:

Skyharbour Resources Ltd. is a uranium exploration company and the operator of the Western Athabasca Syndicate which controls a large, geologically prospective land package consisting of five properties (287,130 hectares or 709,513 acres) in the Athabasca Basin of Saskatchewan. Approx. $3,750,000 of the planned $6,000,000 in combined exploration expenditures over a two year period has been invested in the properties thus far, the bulk of which is being funded by the three partner companies. Skyharbour also owns a 100% interest in the Way Lake Uranium project on the east side of the Basin which hosts an NI 43-101 compliant inferred resource totaling 7.0 million pounds of U3O8 at 0.03% and 5.3 million pounds of ThO2 at 0.023%. Skyharbour owns a 60% interest in the Mann Lake Uranium project on the east side of the Basin strategically located 25 km southwest of Cameco's McArthur River Mine. The Company has 57 million shares outstanding with insiders owning over 20% of the outstanding shares. Skyharbour's goal is to maximize shareholder value through new mineral discoveries, committed long-term partnerships, and the advancement of exploration projects in geopolitically favourable jurisdictions.

To find out more about Skyharbour Resources Ltd. (TSX VENTURE:SYH) visit the Company's website at www.skyharbourltd.com.

Skyharbour Resources Ltd.

Jordan Trimble, President and CEO

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

This release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.