Corporate Presentation FAIR SKY RESOURCES INC. September 2006 DRAFT Fair Sky Resources et al Macleans 12-2 Fair Sky Resources Inc

Corporate Overview Corporate Overview  Fair Sky Resources: Public Alberta based O&G company TSX-V Trading Symbol "FSK“: ~12,500,000 shares (FD)  25 gross wells (~60% net) to date (~85% success rate)  ~600,000 Boes Proven/Producing reserves  ~3,000,000 Boes Proven + Probable reserves  F & D costs of ~$7.50/Boe  Additional +20 prospects scheduled for fall 2006/winter 2007  Land base of +150,000 acres developed & potential undeveloped year round access existing underutilized infrastructure Fair Sky Resources Inc

Growth & Structure Growth & Structure  Proven Management Team with strong investment backing  Strong Land Position: Balanced Risk, Growth Oriented Prospect Inventory  Strategic Farmin properties with exploration, development & exploitation opportunities  Management and Directors Own ~25% of Company Fair Sky Resources Inc

Net Asset Value/Reserves Fair Sky Resources Inc

Shares Iss’dCapital Current Shares Outstanding: ~11,400,000 ~$15,500,000 O/S Options: 1,070,000 ~12,500,000 (FD) boes 6:1 equivalentValue Proven + Probable Reserves: (August 2006)~3,000,000 boes~$78,000,000 ( 10% disc. Forecast Pricing) Fair Sky Resources Inc Share Capital March 2006 F & D costs = ~$7.50/bbl P+P (PNG property cost to date ~$21.9M) NAV = ~$6.25/share

Fair Sky Resources Inc Tim R. Kemp, BSc, Founder, Director, President 20+ years industry experience: President AC Energy, public company; VP Boyd/PetroSearch, Oil & Gas project management company; Operations Geophysicist, British Petroleum western Canada; 4 years Geophysical field contracting ; Past Chairman CPA Geophysical Committee. Brent Walter, LL.b, Founder, Director, Secretary Partner ProVenture Law LLP; practises securities & corporate/commercial law; serves on a number of public & private corporations; Member of Law Societies of Alberta & Saskatchewan, Canadian Bar Association James Surbey, B Eng/LL.b, Founder, Director VP Corp. Dev. Birch Cliff Res.; 20+ years industry experience; previously a director or officer of: Maximum Energy Trust, Big Bear Exploration Ltd., Stampeder Exploration Ltd, partner at Howard, Mackie Barristers and Solicitors. Cameron W. Dow, BA Econ., Founder, Director Partner Daunheimer & Dow LLP Chartered Accountants. Chartered Accountant Designation in Alberta; Director public and private corporations; prior General Electric, Deloitte and Touche. Joseph Dow, BA Econ., CFO Founder & Principal of Dowwest Management Accounting Ltd., Graduated U of A 1978 and is a Certified Management Accountant, 20+ years in Oil & Gas Accounting Jasmine Smith, BSc. Sr. Manager Administration, Investor Relations & Corporate Finance +10 years experience; BSc. from (U of H); CIRI member, Office Management, Executive Administration, Corporate Finance & Investor Relations Board of Directors & Key Personnel Board of Directors & Key Personnel

FAIR SKY RESOURCES INC. AREAS OF ACTIVITY Fair Sky Resources Inc Central Alberta Central Saskatchewan Peace River Arch Utah Energy Property Salt Lake

Carbondale ~100 Sections developed & undeveloped lands Multi-zones: Viking & Manville Gas Leduc Oil 1.) Crown, Freehold & Farm-in Lands (Canetic & Advantage Trusts) 2.) 4 wells tied in, producing ~ 700mcf/d 3.) +20 additional locations 4.) Under Utilized Facilities 5.) Year Round Access 7-19 Prod Producing 3-11 New Drill 1-32 New Drill Producing 8-04 Producing 5-24 New Drill Fair Sky Resources Inc

Westrose Multi-zone Manville Gas Down spacing applied for on Glauconite Gas 1.) 6 section farmin (Advantage Trust) 2.) 2 wells tied in Production ~1.5mmcf/d (~1mmcf/d behind pipe) 3.) Facility upgrading & additional wells being prepared Prod 4-28 New Drilling 8-20 Producing 5-24 Tested Fair Sky Resources Inc 5-28 Cased

1.) Crown & Farm-in Lands (Advantage Trust) 2.) 2 wells tied in Production ~150 bls/d oil 3.) additional program to deliniate drilling locations Macleans Creek Gilwood Oil Play ~150,000 bls proven reserves ~430,000 bls proven+ probable reserves 7-03 New Drill Producing Producing Standing Fair Sky Resources Inc

Boundary Lake Half-way Gas Zone Initial 1 st test well24 hour flow test 5.3mmcf/d (tie-in fall 2006) 1.) Crown & Farm-in Lands (Advantage Trust) 3.) Purchased with partner June Land Sale $1.0M Parcel 3.) Multi-well program 2006/2007 (4-5 wells), election on 2 nd well for June/July ) BCF reserve potential Testing 5-24 New Drill 5-17 New Drill Fair Sky Resources Inc

Central Alberta Acquisition Fair Sky Resources Inc - Access year round - Net Pay: 10-15m - Aver well:Gas 2.5 Bcf Oil 1.2 MM Bbl Field production: boes/d/well BOEs Production +40M 1.) Purchased multiple sections of undeveloped acreage on Trend 2.) Fair Sky has 33.3% WI 3.) number potential wells: 20 4.) Operations: 2007

Moose Jaw Fair Sky Resources Inc 1.) ~100 sections Crown/Freehold exploration & development land 2.) completed ~600 km seismic program 3.) multiple anomolies locatedl 3.) 1 well drilled/logged 5 locations being surveyed & licenced Multi Shallow Gas Zones & Bakken Oil (Down spacing on as drainage unit) Drilled & Cased

Fair Sky Production By Area 2006 Area; Exit Rate Q2 Q3 Q4 Winter 07 Mcleans Creek (Oil)150bls/d125 bls/d120 bls/d120 bls/d Willingdon (Gas)15 bls/d 15 bls/d30 bls/d130 bls/d Carbondale (Gas & Oil)135 bls/d125 bls/d250 bls/d450 bls/d Westrose (Gas)125 bls/d 60 bls/d350 bls/d500 bls/d Boundary (Gas & Oil) 350 bls/d700 bls/d Moose Jaw (Gas & Oil) 400 bls/d* TOTALS:425 bls/d325 bls/d1100 bls/d2300 bls/d (85% success) 66% risk725 bls/d1500 bls/d * Moose Jaw production dependent on Facilities Fair Sky Resources Inc Estimated Exit Rate 2006 (66% Risk) -Q3 production reflects facility constriction 350 bls: up-grade, pipeline construction completed early 3 rd 1/4

Fair Sky Proposed Capex Program to 2006: $20.0M Area Q3 Q4Winter 2007 Capital Mcleans Creek (Oil) Willingdon (drill 1 well) $0.5M Carbondale Completion (drill 3 wells) (drill 4 wells) $4.0M Westrose Completion (drill 2 well)(drill 3 well) $4.5M Boundary(drill 1 well) (drill 2 well) $5.0M Moose Jaw (drill 1 wells) (drill 2 wells) $3.0M New Prospects $3.0M TOTAL2 wells9 wellls7 wells $20.0M Fair Sky Resources Inc Incremental Cash Flow Growth Projection

FAIR SKY MINERALS INC.  Fair Sky has approximately 1,100 mineral claims in Beaver County and Iron County NW of Cedar City Utah  Uranium exploration program underway in Iron County Utah  Strategic properties: Uranium potential in the area exhibited radiation levels in excess of 10,000 cps with molybdenum/tin and zinc geochemical anomalies  Former uranium producer, Staats mine to the north of the property

Area of Mineral Claims  Former uranium producer, Staats mine to the north of the property  Airborne electromagnetic and spectrometric survey carried Spring 2006 large 2 X 2.6 km radioactive anomalie  Large uranium anamoly situated in center of mineral claims  Proposed financing of up to $0.50/common share being carried out  Fair Sky Resources to become minority shareholder

Fair Sky Resources Suite Avenue SW Calgary, Alberta, T2P 3C5 Attention: Tim Kemp,Jasmine Smith, President & CEOSr. Manager Corporate Finance FAX: Fair Sky Resources Inc Contacts Contacts

This presentation may contain forward-looking statements including expectations of future production, cash flow and earnings. These statements are based on current expectations that involve a number of risks and uncertainties, which could cause actual results to differ from those anticipated. These risks include, but are not limited to: the risks associated with the oil and gas industry (e.g. operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve estimates; the uncertainty of estimates and projections relating to production, costs and expenses, and health, safety and environmental risks), commodity price and exchange rate fluctuation, and uncertainties resulting from the potential delays or changes in plans with respect to exploration or development projects or capital expenditures. Fair Sky Resources Inc Forward Looking Statements Forward Looking Statements