Mr. Mike England reports

SKY GOLD GRANTS OPTIONS

Sky Gold Corp. has set 2.3 million options at an exercise price of five cents, good for two years, to directors, officers and consultants of the company in accordance with the company's stock option plan.

The company further announces it is no longer proceeding with the third tranche of the previously announced financing (see news releases dated May 24, 2024, June 5, 2024, June 19, 2024, June 26, 2024, July 5, 2024, and Aug. 9, 2024). The company raised an aggregate total of $366,400 in the two tranches completed, issuing 6.6 million non-flow-through units at a price of five cents per unit and 520,000 flow-through units at a price of seven cents per unit.

Each NFT unit was composed of one common share and one transferable share purchase warrant of the company, each warrant entitling 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 was composed of one common flow-through share and one transferable non-flow-through share purchase warrant of the company, each NFT warrant entitling 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.

In connection with the private placement, the company paid cash commissions of $23,680 and 464,000 warrants exercisable for a period of 12 months from the closing of the private placement at a price per share of seven cents.