Guatemala

[Tackler]

Skye files Fenix reports; no longer in default

2005-08-09 14:22 ET - News Release

Mr. Hugh Macdonald reports

SKYE FILES REVISED TECHNICAL REPORTS AND IS REMOVED FROM BCSC DEFAULT ISSUER LIST

Skye Resources Inc. has now filed two revised reports for its Fenix project in Guatemala, available in SEDAR files. As a result, Skye has been removed from the defaulting issuers list of the British Columbia Securities Commission.

Skye announced in Stockwatch May 19, 2005, that a routine review by the commission had identified that the preliminary assessment, filed in support of Skye's news release in Stockwatch Feb. 28, 2005, was not filed in the form required by National Instrument 43-101. The assessment relied on a report on Skye's resources filed in support of Skye's news release in Stockwatch Oct. 13, 2004, which was also found not to be in the form required by NI 43-101. Both reports have been revised to comply with NI 43-101. The conclusions in the preliminary assessment and the resource report have not changed.