Mr. Mike England reports

SKY GOLD CORP. CLOSES CRITICAL METALS FLOW THROUGH AND HARD DOLLAR FINANCING

Sky Gold Corp. has closed its previously announced non-brokered private placement comprising both flow-through (FT units) units specifically designed for critical metals and non-flow-through units (NFT units). The company issued a total of 3,756,667 FT units and 1.83 million NFT units for gross proceeds of $316,900.

Each critical minerals FT unit will include one flow-through share that qualifies as a critical minerals flow-through share under the Income Tax Act (Canada), along with a transferable share purchase warrant of the company (NFT warrant). Each NFT warrant will enable the holder to acquire an additional non-flow-through share at a price of 10 cents per share for a period of 24 months from the date of issuance.

All shares, warrant, and NFT warrants, as well as the shares underlying the warrants and NFT warrants, will be subject to a statutory hold period of four months and one day from the date of issuance.

Each NFT unit will comprise one common share and one transferable share purchase warrant of the company. 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 10 cents per share. Proceeds raised from the offering will be used toward exploration activities on the company's portfolio of mining projects as well as general and administrative purposes.

Finders' fees were paid in connection with the private placement to Sherbrooke Street Capital (SSC) Inc. as follows: $7,320 and 134,400 brokers warrants issued at a price of 10 cents for a 12-month period after the closing date.

A senior officer of the corporation has subscribed for an aggregate of 400,000 FT units as part of the private placement, which participation constitutes a related party transaction within the meaning of Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions and Policy 5.9 of the TSX-V. The corporation is relying on the exemption for a formal valuation under Section 5.5(b) of MI 61-101 (trading on the TSX-V), and on the exemption for minority shareholder approval under Section 5.7(1)(b) of MI 61-101 (fair market value of less than $2.5-million).

The gross proceeds from the FT units will be utilized for incurring flow-through critical mineral mining expenditures as defined in the Income Tax Act (Canada). Proceeds raised from the NFT units will be used toward exploration activities on the company's portfolio of mining projects as well as general and administrative purposes.

All securities issued are subject to a statutory hold period expiring on Feb. 25, 2024.

The financing, although conditionally approved by the TSX Venture Exchange, is subject to final approval.

We seek Safe Harbor.