Mr. Mike England reports

SKY GOLD PROVIDES UPDATE ON FINANCING

Further to the previously announced non-brokered private placement (see the news releases dated May 24, 2024, June 5, 2024, June 19, 2024, June 26, 2024, and July 5, 2024), the TSX Venture Exchange has granted Sky Gold Corp. a 30-day extension to close this private placement.

The company has closed two tranches of the private placement for gross proceeds of $366,400. In connection with the closing of the first and second tranches, the company has issued 6.6 million non-flow-through (NFT) units at a price of five cents per unit and 520,000 flow-through (FT) units at a price of seven cents per unit.

Each NFT unit comprises one common share and one transferable share purchase warrant of the company. Each warrant will entitle the holder to purchase one share at a price of seven cents per warrant share for a 36-month period after the closing date.

Each FT unit comprises one common flow-through share and one transferable non-flow-through share purchase warrant of the company. Each NFT warrant will entitle the holder to purchase one additional non-flow-through share at a price of 10 cents per share for a 24-month period after the closing date.

All securities issued are subject to a statutory hold period of four months plus one day from the date of issuance in accordance with applicable securities legislation.

The financing, although conditionally approved by the TSX-V, is subject to final approval.

About Sky Gold Corp.

Sky Gold is a junior mineral exploration company engaged in acquiring and advancing mineral properties in Canada and the United States.