Skyharbour updates Red Lake, Ontario exploration progress

September 16, 2002

Skyharbour Developments Ltd. (TSX.V:SYH) is pleased to provide an exploration update on its gold properties in the central Red Lake gold belt, Ontario. All of Skyharbour's properties in Red Lake are being explored for gold this season.

Baird Property:

Core logging, modeling, and interpretation of the recently completed exploratory drill program on the Baird property continues to yield new target areas for drill testing. In particular, gold bearing, silicified and carbonatized zones as well as sulfidized iron formation in proximity to an inferred unconformity are being targeted further. Phase II drilling is planned for October.

Heyson property:

A cohesive gold in till anomaly containing significant counts of pristine gold grains and covering over 3 square kilometers has been discovered in the eastern half of the Heyson property, 4 kms southwest of the Goldcorp Red Lake mine. The anomalous samples form a distinct dispersion fan, with down ice prospecting recovering silicified boulders carrying 3% pyrite and pyrrhotite that may form part of a boulder train from the target area. Sampling has defined an abrupt up-ice termination indicating a bedrock source lying within the Heyson property boundary.

A detailed mobile metal ion (MMI) survey is currently being completed over this area to localize the anomaly and refine drill targets. A first phase drill program testing this and other gold targets on the Heyson property is planned for October of this year, coinciding with the second phase of Baird property drilling.

McKenzie Island property:

Till sampling is complete on the McKenzie Island property, which lies along the 'Red Lake mine trend', immediately west of Rubicon Minerals' McCuaig project. Rubicon Minerals has recently announced its intention to complete a 10,000-foot drill program on the McCuaig project this season. Gold grain counts from till samples will be returned in the next 30 days. Any resulting anomalies will be drill tested this fall.

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