high grade copper & moly

Developing the Blue Caribou Project in Nunavut, Canada

Skybridge Development Corp. Profile

Skybridge Development Corp. Thunder Bay, Ontario, TSX.V : SBD, is a public Canadian-based mineral exploration and development company that recently completed a Phase 1 3600m drill program at its high grade copper Blue Caribou Project in Nunavut Territory, Canada. The Company recently announced its entry into the Red Lake gold camp and a strategy to consolidate other mineral assets Skybridge has an experienced management team to advance its business objective of building shareholder value through exploration and development of mineable mineral resources.

Mega Silver Inc. (TSX VENTURE:MSR) ("Mega") and Skybridge Development Corp. (TSX VENTURE:SBD) ("Skybridge") announce that they have entered into a binding letter agreement to combine the companies through an all share transaction (the "Transaction").

It is proposed that the Transaction will be effected by way of a three-cornered amalgamation, whereby a wholly-owned subsidiary of Mega will amalgamate with Skybridge and, upon completion of the transaction, the resulting company will be a wholly-owned subsidiary of Mega and will continue to carry out the business of Skybridge.

The common shares of Skybridge will be de-listed from the TSX Venture Exchange prior to closing of the Transaction.

Developing the Blue Caribou Project in Nunavut, Canada

The Blue Caribou Property is a quartz rich, high grade copper and molybdenum prospect with byproduct silver and gold. Grades up to 9.6% copper, 0.07% molybdenum, 17.37 g/t silver and 0.31 g/t gold were obtained from select grab samples on the surface in 2007. The current (2008) minimum 3000m drill program at Blue Caribou has returned interim assays up to 3.62% copper over 8.9m (29.2ft) and 4.28% copper over 5.0m(16.4ft) using a 1% copper assay cutoff.

The Blue Caribou Gold Zone is a distinct gold identified on the property in the Company's independent NI 43-101 technical report, but never previously drilled. Gold values up to 7.3 g/t Au (grab) in the North Zone and 67.71 g/t Au (grab) in the South Zone are associated with an intensely altered volcanic sequence and an 8km magnetic high with quartz vein swarms and numerous as yet untested EM conductors. The Company is currently drilling this target as part of its current Phase 1 drill program.

These compelling gold and copper targets in a granodiorite-dominated terrane evoke an IOCG mineral deposit model near the intersection of the Bathurst Fault Zone and Thelon Front magmatic zone and suggest that the Skybridge management team may be on the verge of an exciting new discovery in the Arctic.

Senior Management

Active, proficient team with strong technical skills and capital markets experience with a record of building shareholder value (Wolfden, Premier Gold, Sabina Silver; Skybridge is the team's newest venture)

The team represents extensive experience in mineral exploration and development and has been involved in multiple mineral discoveries and development projects in North America

The Company is well financed and currently drilling its very promising copper-gold project at Blue Caribou in Nunavut, Canada (see our Corporate presentation)

The team has considerable previous success in the challenging Arctic operating environment

Ewan Downie founded and ultimately sold Wolfden Resources Inc. for CAD$361 million (2007); named "Prospector of the Year" (2004) by PDAC for the discovery of the West Zone VMS deposit at High Lake

Mr. Drost led financing and early development of the Hackett River Project by Sabina Silver Corporation

Team discovered the Lightning Zone (2003) and Follansbee/Bonanza Zone (2005) gold deposits at Red Lake, Ontario, which is currently the cornerstone of the Goldcorp/Premier Gold Joint Venture in the Red Lake Gold Camp. Mr. Downie is the President and CEO of Premier Gold

Last changed at 05-Feb-2009 06:18AM by Highgrader