Drilling has also intersected altered, mineralized rock with assays pendingon the 8km long Blue Caribou Gold Zone trend on its 100% owned Blue CaribouProject in Nunavut.

The Blue Caribou Copper Zone represents mineralized intervals with assaysover a total 800m strike length defined thus far with previously reportedassays grading up to 4.28% copper over 5.0m (16.4ft) in hole BC08-06 and3.62% copper over 8.9m (29.3ft) in BC08-03 at a 1.0% copper assay cutoffwithin a broader quartz breccia target horizon. Drilling continues on theBlue Caribou Copper Zone which remains open down dip. New assays from theapparent western edge Trench Zone area of the drill-indicated structuregrade up to 10.4% copper over 1.6m (Figure 1).

Figure 1 New Drilling Assays Utilizing a 1.0% Copper Assay Cutoff,                   Blue Caribou Project, Nunavut--------------------------------------------------------------------------Hole no./     Interval (m / ft)     Copper    Moly     Silver     GoldSect/Dip                             (%)      (%)      (g/t)      (g/t)--------------------------------------------------------------------------                 Elbow Zone--------------------------------------------------------------------------BC08-01    Previously Reported onto BC08-        July 16, 2008   12A--------------------------------------------------------------------------                 Trench Zone--------------------------------------------------------------------------BC08-13/  50.3 -- 55.5 (5.2 / 17.1)  2.30    0.035      28.59     0.115480E/-70--------------------------------------------------------------------------BC08-14/  50.0 -- 54.5 (4.5 / 14.8)  2.48    0.129      37.72     0.103480E/-90--------------------------------------------------------------------------BC08-15/  37.8 -- 38.8 (1.0 / 3.3)   3.97    0.041      50.16     0.176400E/-50--------------------------------------------------------------------------BC08-16/  35.6 -- 39.6 (4.0 / 13.1)  1.27    0.043      17.87      0.10400E/-70--------------------------------------------------------------------------BC08-17/  32.9 -- 33.4 (0.5 / 1.6)  10.47    0.045     184.14     0.114400E/-90--------------------------------------------------------------------------BC08-17/  43.4 -- 49.0 (5.6 / 18.4)  2.76    0.012      34.17     0.133400E/-90--------------------------------------------------------------------------BC08-18/  47.4 -- 48.4 (1.0 / 3.3)   2.00    0.059      28.92      0.09360E/-70--------------------------------------------------------------------------BC08-19/  52.2 -- 53.2 (1.0 / 3.3)   1.20    0.005      16.56     1.004360E/-90--------------------------------------------------------------------------                            Faulted Zone                   (Between Trench & Elbow Zone)--------------------------------------------------------------------------BC08-20/  74.1 - 78.8(4.7 / 15.4)    1.55    0.016      11.40      0.13775E/-60--------------------------------------------------------------------------BC08-21       Results pending   ToBC08-28--------------------------------------------------------------------------

In addition, the Company has conducted three stratigraphic test holes thusfar on its "Blue Caribou Gold Zone," a series of historical gold valueslocated 5km and 9km southeast of the Blue Caribou Copper Zone, grading upto 7.3 g/t gold (grab) in the "North Zone" and 67.71 g/t gold (grab) in the"South Zone." The gold occurrences were identified from a review ofhistorical data assessment files on the Company's 50,000 acre property andreported in the Company's independent NI 43-101 technical report filed onSEDAR (May 8, 2008). There is no record of any previous drilling. The goldoccurrences have also been examined and sampled in the field by Skybridgepersonnel and appear to be associated with highly altered host rockscontaining swarms of quartz veins. They appear to line up with an 8km longmagnetic high and several electromagnetic conductors identified by theCompany in its proprietary airborne magnetic and electromagnetic MEGATEMsurvey flown by Fugro Airborne Surveys. The preliminary stratigraphic drilltest of the Blue Caribou Gold Zone is also part of the Company's currentPhase 1 minimum 3000m drill program.

Split core samples from the Blue Caribou project are being processed atISO-certified Accurassay Laboratories, Thunder Bay, Ontario. Core logging,splitting, sampling, sample transportation and assay procedures are allsubject to rigorous Quality Assurance/Quality Control protocols to ensurethe accuracy and reproducibility of the analytical results, under thesupervision of Gord Yule, P.Geo., a Qualified Person under NI 43-101 whohas also examined the reported gold occurrences and approved the content ofthis news release.

The Company has recently announced drill discovery of the high grade BlueCaribou Copper Zone at its Blue Caribou Project in western Nunavut(announced July 16, 2008). The deposit is open down dip and drillingcontinues. Skybridge management and Board of Directors are experienced andsuccessful Arctic explorers and developers and believe that a stable sourceof supply from tidewater-accessible world-class mineral deposits and afavourable political climate around Canada's sovereignty in the Arctic,will ultimately establish Nunavut and the Northwest Territories as Canada'snext great mining and oil and gas district. The company is well financedand actively considering additional acquisitions in the Arctic andelsewhere as a catalyst for growth.

For further information and presentation material, please review theSkybridge website at www.skybridgedevelopment.com

On Behalf Of The Board Of Directors,SKYBRIDGE DEVELOPMENT CORPORATION

This news release includes certain forward-looking statements concerningthe future performance of our business, its operations and its financialperformance and condition, as well as management's objectives, strategies,beliefs and intentions. Forward-looking statements are frequentlyidentified by such words as "may," "plan," "expect," "anticipate,""estimate," "intend" and similar words referring to future events andresults including the statements herein that: i) the Company anticipatesthat the size and grade potential will be confirmed by a diamond drillingprogram and ii) suggesting a structure potentially amenable to shallow bulkmining pending a full determination of lateral extent by additionaldrilling. Forward-looking statements are based on the current opinions andexpectations of management. All forward-looking information is inherentlyuncertain and subject to a variety of assumptions, risks and uncertainties,including the speculative nature of mineral exploration and development,fluctuating commodity prices, competitive risks and the availability offinancing and as described in more detail in our recent securities filingsavailable at www.sedar.com. Actual events or results may differ materiallyfrom those projected in the forward looking-statements and we cautionagainst placing undue reliance thereon.

The TSX Venture Exchange does not accept responsibility for the accuracy orthe adequacy of this release.

Shares Issued: 15,545,000

Distributed by Filing Services Canada and retransmitted by Marketwire