Sky Gold Corp. Acquires Three Nickel-Copper-Cobalt-Platinum Group Element Properties in The Shebandowan Greenstone Belt, Northwestern Ontario - Seite 3

Qualified person

Sky Gold Corp.'s disclosure of a technical or scientific nature in this news release has been reviewed and approved by Don Hoy, P.Geo., who serves as a qualified person under the definition of National Instrument 43-101.

Terms

To acquire a 100% interest in the properties listed the Company will issue 1.5 million shares, pay $20,000 and grant a 2.5% NSR to the vendors of which 1.5% can be purchased back anytime by the Company at its discretion for two million dollars. In the event that, subsequent to the Closing, SKYG determines in its reasonable discretion that an ore body of more than 5 million tonnes is situated in or on the Property, and that such ore body is commercially viable in accordance with industry standards, then the consideration payable by SKYG shall be adjusted upwards, such that SKYG shall issue an additional 1,000,000 common shares in its capital to the Vendors provided that SKYG has not sold or otherwise relinquished the Property.

This transaction is subject to TSX Venture approval. A finder's fee will be payable.

FINANCING

Sky further announces it has arranged a non-brokered private placement of up to 10 million units ("Units") at a price of $0.08 per Unit for aggregate gross proceeds of $800,000.00 (the "Offering"). Each Unit will be comprised of one common share ("Share") and one transferable Share purchase warrant of the Company ("Warrant"). Each whole Warrant will entitle the Subscriber to purchase one Warrant Share for a 24-month period after the Closing Date at an exercise price of $0.12 per share. Proceeds raised from the Offering will be used towards exploration activities on the Company's portfolio of mining projects as well as general and administrative purposes. Finder's fees will be paid pursuant to this financing.

The financing is subject to TSX Venture approval.

ON BEHALF OF THE BOARD

"Mike England"
Mike England, CEO, PRESIDENT & DIRECTOR

FOR FURTHER INFORMATION PLEASE
CONTACT: Telephone: [phone]
Toll Free: 1-888-945-4770

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward Looking Statements

Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding the matters described herein. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance, or developments to differ materially from those contained in the statements, including with respect to the completion of the Consolidation or the identification or acquisition of additional mineral assets. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, including factors beyond the Company's control. These forward-looking statements are made as of the date of this news release.

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