Mr. Mike England reports

SKY GOLD PREPARES FOR FALL DRILL PROGRAM ON THE TOWER GOLD TARGET, EVENING STAR PROPERTY, MINERAL COUNTY, NEVADA

Sky Gold Corp. plans to explore the Evening Star property, located in the prolific Walker Lane trend of Mineral county, Nevada. Initially work will focus on the Tower gold target, where drill permits have been received for up to nine drill pads.

The Evening Star property hosts multiple styles of mineralization: intrusive related gold (Tower gold target), copper-gold porphyry (high life target) and carbonate replacement deposit-(CRD)-skarn mineralization (Gold Bug target). The property is readily road accessible, approximately 16 kilometres (10 miles) east of the town of Hawthorne.

Tower gold target

Discovered in 2021, the Tower gold target, was outlined by 65 rock samples (grab and chip samples) over a west-northwest/east-southeast (WNW-ESE) trend length of approximately one kilometre, by approximately 200 metres width.

The arithmetic average of the rock samples was 2.01 grams per tonne gold (g/t Au), 8.71 g/t silver (Ag), 1,115 parts per million (ppm) copper (Cu), 595 ppm lead and 340 ppm zinc.

Peak values in rock samples were 18.21 g/t Au, 97.60 g/t Ag and plus-10,000 ppm Cu (1 per cent Cu).

The gold mineralization (plus Ag and Cu values) is interpreted to be hosted in sheared and altered (pervasively sericitized) granitic rocks, associated with quartz veins, veinlets and limonitic microfractures. Numerous historic workings were observed and sampled, comprising shallow shafts, declines and trenches. There is no indication of any modern drill activity.

The company has also completed a soil sampling survey over two areas approximately 200 m by 200 m each, over the southeast portion of the Tower gold target, with peak values of 2.83 g/t Au, 10.4 g/t Ag, 930 ppm Cu, 1,370 ppm Pb and 800 ppm Zn. The 90-per-cent percentile values (indicative as strongly anomalous for gold) were 0.206 ppm Au, 4.3 ppm Ag, 314 ppm Cu, 150 ppm Pb and 205 ppm Zn. There is good correlation of the elevated gold values with higher silver and copper soil results.

The permitted Tower gold target drill program will test a plus-400-metre-long by up to 100-metre-wide zone of anomalous gold in soil and bedrock. The Tower gold target is interpreted as potentially representing a distal gold system to a porphyry Cu deposit or another event of the Walker Lane trend.

"With the current surge in gold prices we feel the environment is perfect for Sky to give the Tower Gold Target immediate attention. We are very excited to resume exploration activity on the Tower Gold Target with a drill program this fall," stated Mike England, chief executive officer of Sky Gold Corp.

Previous sampling (sees news release of Nov. 30, 2021) of 65 rock samples (grab and chip samples) were taken over an area of approximately one kilometre in a west-northwest direction, by approximately 200 metres width.

(The reader is cautioned that grab rock samples, while not representative of the grade of mineralization of an occurrence or target, are useful in determining prospectivity and geological features.)

This news release contains scientific and technical information with respect to other properties of the company's Evening Star property, which the company has no interest in or rights to explore. Readers are cautioned that information regarding the geology, mineralization and mineral resources on these other properties is not necessarily indicative of the mineralization on the company's properties.

Qualified person

Sky Gold's disclosure of a technical or scientific nature in this news release has been reviewed and approved by David Taff, PGeo, who serves as a qualified person under the definition of National Instrument 43-101.

We seek Safe Harbor.