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

Executive Summary

• Sky Gold Corp. announced a non‑brokered private placement of up to 20 million units at $0.05 per unit, targeting gross proceeds of up to $1 million.
• Each unit consists of one common share and one transferable warrant exercisable at $0.08 per share for a 36‑month period after closing.
• Proceeds will fund geophysical surveys and drilling on the Tower Gold and High Life targets in Nevada, as well as general and administrative expenses.

Key Details

• Offering Size: Up to 20 million units (each = 1 common share + 1 warrant).
• Price per Unit: $0.05 → Maximum gross proceeds: $1,000,000.
• Warrant Terms: One‑share purchase warrant per unit; exercisable at $0.08 per share for 36 months post‑closing.
• Use of Proceeds:
• Geophysical programs – property‑wide drone‑supported magnetic survey and deep Induced Polarization (IP) over the High Life target.
• Drilling program on Tower Gold and High Life targets (both previously undrilled).
• General and administrative purposes.
• Target Projects:
• Tower Gold: ~1 km gold vein trend in granitic rocks, drill‑ready; drilling expected to commence within weeks.
• High Life: Buried copper‑gold porphyry target with multiple lines of geological, geochemical and geophysical evidence suggesting a potentially significant system.
• Regulatory: Private placement is subject to approval by the TSX Venture Exchange.
• Finder’s Fees: To be paid pursuant to this financing (details not disclosed).
• Qualified Person: Danae Voormeij, P.Geo., reviewed and approved technical disclosures under NI 43‑101.

Notable Quotes

“The capital raised will enable us to advance critical geophysical work and initiate drilling on two high‑potential, never‑before‑drilled targets, accelerating our path toward resource definition.” – Mike England, CEO, President & Director.