Skyharbour Identifies 3 High-Priority Targets on South Bay Project, NW Ontario

Skyharbour Resources Ltd. (TSX VENTURE:SYH) (the "Company") is pleased to announce the completion of a 3D down-hole Spectral IP/ Resistivity Survey and receipt of a comprehensive report on the Company's 100% owned 3200 aces South Bay zinc-copper project located in Dent township, Northwestern Ontario.
South Bay Claims Map, NW Ontario:
http://www.skyharbourltd.com/s/Image.asp?i=maps/SYH_South_Bay_Map_new.jpg

Nautilus Minerals Inc.: Discovery Identifies Potential New SMS District in Papua New Guinea

Nautilus Minerals Inc. (TSX:NUS)(AIM:NUS) (the "Company" or "Nautilus") has been advised by Teck of the discovery of a new Seafloor Massive Sulphide ("SMS") system - Solwara 11, on a Nautilus Exploration License ("EL") in the territorial waters of Papua New Guinea ("PNG").

"Solwara 11 represents an important milestone for Nautilus because it is a potential lead into a new mineralised district. The system is located more than 300km away from the nearest known SMS system. This discovery highlights the potential of Nautilus' large land package and the ability of modern exploration techniques to find mineralised systems quickly," commented Stephen Rogers, Nautilus' CEO.

HudBay Reports Progress in Lundin Acquisition

HudBay Minerals Inc. (TSX: HBM) ("HudBay") continues to take steps to advance its acquisition of Lundin Mining Corporation (TSX: LUN)(NYSE: LMC)(OMX: LUMI) ("Lundin").

TSX CONDITIONAL APPROVAL

HudBay received conditional approval on December 10, 2008 from the Toronto Stock Exchange (the "TSX") with respect to the HudBay shares that will be issued as consideration in connection with the acquisition of the Lundin shares. Final approval of the listing of HudBay shares is subject to the ordinary conditions of the TSX for transactions of this nature and does not require the approval of the shareholders of HudBay.

Rio Tinto commits to reduce net debt by $10 billion by end of 2009

Introduction

Rio Tinto has announced a detailed package of measures in response to the unprecedented rapidity and severity of the global economic downturn, which has caused sharp falls in commodity prices and a significantly weaker outlook. The initiatives are aimed at preserving value for shareholders by conserving cashflow and reducing levels of debt.

In its third quarter operations review on 15 October 2008, the Group acknowledged that the economic outlook had substantially deteriorated, that demand conditions had weakened sharply, and that capital expenditure would be reviewed. Since that time, demand conditions have worsened further, and as a result the Group’s priorities have reoriented around conserving cashflow and reducing near term borrowings.