Skybridge Intersects High-Grade Mineralization at Blue Caribou; Company to Test "Feeder Zone" Concept

  SKYBRIDGE DEVELOPMENT CORP. (TSX-V: SBD) is
pleased to announce assay results from four (4) additional holes on its
Blue Caribou Copper Project (Table 1). The current series of holes with
assays of up to 3.39% copper over 6.0m fills a drilling gap in a
downfaulted section of the deposit with grades and widths that continue to
excite. Given the relative purity of the chalcopyrite mineralization in a
strong breccia structure and evidence of hydrothermal alteration, the
Company will also conduct a deep-seeking ground geophysical survey on site
shortly to test the theory that the Blue Caribou Copper Zone may represent
a remnant conduit or "feeder zone" to a convential porphyry or IOCG copper
deposit at depth with upside tonnage implications.

The Company is also considering an immediate follow-up Phase 2 drill program in Q4, 2008 given the extremely encouraging Phase 1 start at Blue Caribou.

The Blue Caribou Copper Zone as currently understood represents mineralized intervals with assays over a total 800m strike length defined thus far with previously reported assays (July 16; August 19) grading up to 4.28% copper over 5.0m (16.4ft) in hole BC08-06 and 3.62% copper over 8.9m (29.3ft) in BC08-03 at a 1.0% copper assay cutoff within a broader quartz breccia target horizon. Phase 1 drilling totaling 3600m was recently completed on the Blue Caribou Copper Zone which remains open down dip with broad widths of chalcopyrite mineralization observed at 200m down dip (assays pending).

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Table 1: New Drilling Assays Utilizing a 1.0% Copper Assay Cutoff,
Blue Caribou Project, Nunavut

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Section/Dip          Interval            Cu %     Mo %    Ag g/t    Au g/t
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BC08-21       85.0 - 88.0 (3.0/ 9.8)     1.46    0.030    17.55      0.13
775E/-85
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BC08-22      14.3 - 19.2 (4.9/ 16.1)     3.45    0.022    38.03      0.50
720E/-55
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BC08-23      14.4 - 18.4 (4.0/ 13.1)     3.64    0.025    39.23      0.16
720E/-85
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BC08-24      88.1 - 94.1 (6.0/ 19.7)     3.39    0.129    52.34      0.28
880E/-85
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BC08-25 TO        RESULTS PENDING
BC08-32
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Split core samples from the Blue Caribou Project are being processed at ISO-certified Accurassay Laboratories, Thunder Bay, Ontario. Core logging, splitting, sampling, sample transportation and assay procedures are all subject to rigorous Quality Assurance/Quality Control protocols to ensure the accuracy and reproducibility of the analytical results, under the supervision of Gord Yule, P.Geo., a Qualified Person under NI 43-101 who has also examined the reported gold occurrences and approved the content of this news release.

Skybridge recently confirmed the high-grade copper deposit at its Blue Caribou Project in western Nunavut (announced July 16, 2008). The deposit is open down dip as recently completed Phase 1 drilling demonstrates. Skybridge management and Board of Directors are experienced and successful Arctic explorers and developers and believe that a stable source of supply from tidewater-accessible world-class mineral deposits and a favorable political climate around Canada's sovereignty over the Northwest Passage in the Arctic Ocean waters, will ultimately establish Nunavut and the Northwest Territories as Canada's next great mining and oil and gas district. The company is well financed and actively considering additional acquisitions in the Arctic and elsewhere as a catalyst for growth.

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

On Behalf Of The Board Of Directors,
SKYBRIDGE DEVELOPMENT CORPORATION

Abraham Drost, P.Geo. President/CEO
[e-mail]

401-1113 Jade Court Thunder Bay, ON
Canada P7B-6M7 Ph: 807-345-3306 or 807-252-7800

This news release includes certain forward-looking statements concerning the future performance of our business, its operations and its financial performance and condition, as well as management's objectives, strategies, beliefs and intentions. Forward-looking statements are frequently identified by such words as "may," "plan," "expect," "anticipate," "estimate," "intend" and similar words referring to future events and results including the statements herein that: i) the Company anticipates that the size and grade potential will be confirmed by a diamond drilling program and ii) suggesting a structure potentially amenable to shallow bulk mining pending a full determination of lateral extent by additional drilling. Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain 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 of financing and as described in more detail in our recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward looking-statements and we caution against placing undue reliance thereon.

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

Shares Issued: 15,545,000

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Contact: Abraham Drost, P.Geo. President/CEO Email Contact 401-1113 Jade Court Thunder Bay, ON Canada P7B-6M7 Ph: 807-345-3306 807-252-7800