Sky Gold arranges $1-million private placement

Executive Summary

• Sky Gold Corp. is conducting a non‑brokered private placement of up to 20 million units at $0.05 per unit, targeting gross proceeds of up to $1 million.
• Proceeds will fund geophysical work and drilling on the Tower gold vein and High Life copper‑gold porphyry targets within the Evening Star property in Nevada, as well as general and administrative expenses.
• Each unit consists of one common share plus one transferable warrant; warrants allow purchase of an additional share at $0.08 for 36 months after closing.

Key Details

• Placement Size: Up to 20 million units.
• Unit Price: $0.05 per unit.
• Gross Proceeds Target: Up to $1 million.
• Unit Composition: 1 common share + 1 transferable share purchase warrant.
• Warrant Terms: One‑for‑one right to buy a share at $0.08 per share, exercisable for 36 months post‑closing.
• Use of Proceeds:
• Geophysical surveys (property‑wide drone‑supported magnetic survey; deep induced polarization over High Life).
• Drilling on Tower gold and High Life targets (both previously undrilled).
• General and administrative purposes.
• Target Descriptions:
• Tower Gold: ~1 km gold vein trend in granitic rocks, drill‑ready, drilling expected within weeks.
• High Life: Buried copper‑gold porphyry target with multiple lines of geological, geochemical, and geophysical evidence suggesting a potentially significant system.
• Finder’s Fees: To be paid pursuant to the financing agreement.
• Regulatory Condition: Placement subject to approval by the TSX Venture Exchange.
• Qualified Person Review: Technical disclosure reviewed and approved by Danae Voormeij, P.Geo., qualified under NI 43‑101.

Notable Quotes

(No CEO/President quotes were provided in the release.)