Sky Gold arranges $1-million private placement

Mr. Mike England reports SKY GOLD ANNOUNCES PRIVATE PLACEMENT IN PREPARATION FOR DRILLING ON THE TOWER GOLD AND HIGH LIFE COPPER PORPHYRY TARGETS, EVENING STAR PROPERTY, MINERAL COUNTY, NEVADA Sky Gold Corp. has arranged a non-brokered private placement of up to 20 million units at a price of five cents per unit for aggregate gross proceeds of up to $1-million. Each unit will be composed of one common share and one transferable share purchase warrant of the company. Each warrant will entitle the subscriber to purchase one warrant share for a 36-month period after the closing date at an exercise price of eight cents per share. Proceeds of the private placement will be used toward geophysics and drilling at the Tower gold and High Life targets, both located in the company's Evening Star property in Nevada, as well as general and administrative purposes. Finders' fees will be paid pursuant to this financing. The private placement is subject to approval by the TSX Venture Exchange. Tower gold is a one-kilometre gold vein trend hosted in granitic rocks. High Life is a buried copper-gold porphyry target that has multiple lines of evidence, including geological, geochemical and geophysical data that vector to a potentially significant system. These targets have never been drilled before. Tower gold is drill ready with drilling expected to commence in the coming weeks. The geophysical programs will be a property-wide, drone-supported, magnetic survey and a deep induced polarization to cover the High Life target area. Qualified person Sky Gold's disclosure of a technical or scientific nature in this news release has been reviewed and approved by Danae Voormeij, PGeo, who serves as a qualified person under the definition of National Instrument 43-101. We seek Safe Harbor.