Mr. Mike England reports

SKY GOLD ENGAGES DRILL COMPANY FOR UPCOMING PROGRAM ON ITS EVENING STAR PROPERTY, WALKER LANE TREND, NEVADA

Sky Gold Corp. has engaged Titan Drilling, based out of Spring Creek, Nev., for an upcoming drill program to test multiple targets at the High Life copper-gold porphyry system, as well as drill test the area of historical hole 70-1 to verify the CRD-style (carbonate replacement deposit) and presence of skarn. Drill hole permitting is in progress and the diamond core drilling program is expected to commence in early April.

The company's geological team is on site mapping and sampling on the property, and preparing the drill sites for the upcoming drilling program.

Mike England, chief executive officer of Sky Gold, states: "We are very excited to get drilling again at Evening Star, this time backed with new geophysical data, as well as recently uncovered co-ordinates from a wildcat hole drilled in 1970 that reported 0.22 per cent Cu, 3.24 per cent Pb, 1.41 per cent Zn and 76 g/t Ag over 166 metres*."

High Life target

Results from recent magnetic and induced polarization (IP) surveys completed on the property reveal a concentric geophysical footprint consistent with a gold-copper porphyry system at the High Life target.

The surveys outline a large (approximately one kilometre in diameter), single positive magnetic anomaly. Three-dimensional processing reveals a robust, deeply rooted magnetic body, interpreted as the potassic core of a porphyry system.

Three IP lines were completed across the High Life area and the associated magnetic anomaly. Results show overlapping resistivity and chargeability highs. The IP data also display strong geophysical zonation, characterized by an outer conductive ring surrounding an inner resistive core.

Additionally, the results of a gravity survey conducted across High Life and Gold Bug in 2020, reveals that the High Life magnetic anomaly exhibits a rare coincident geophysical response, comprising a gravity high, resistivity high and chargeability high. This combination significantly enhances the prospectivity of the target and supports interpretation of a large, intact porphyry system.

CRD potential in historical hole at Gold Bug

CRD-style mineralization comprising galena and sphalerite in carbonate rocks were intersected in a historical hole drilled south of Gold Bug in 1970, returning 0.22 per cent copper (Cu), 3.24 per cent lead (Pb), 1.41 per cent zinc (Zn) and 76 grams per tonne (g/t) silver (Ag) over 166 metres* (see news release dated Dec. 1, 2016). It was not assayed for gold. Within this broader intercept are higher-grade sections, including 0.60 per cent Cu, 14.88 per cent Pb, 4.70 per cent Zn and 408 g/t Ag over 6.10 metres*.

Results from the magnetic survey over the area of Gold Bug and Evening Star targets show discrete magnetic anomalies that may represent skarn mineralization. This area of historical hole 70-1 will be followed up with drill testing to verify the CRD style and presence of skarn.

Qualified person

The scientific and technical information contained in this news release has been reviewed and approved by Danae Voormeij, MSc, PGeo, a director of Sky Gold and a qualified person under National Instrument 43-101, Standards of Disclosure for Mineral Projects.

About Sky Gold Corp.

Sky Gold is a mineral exploration company focused on advancing precious and base metal projects in North America. The company's flagship Evening Star property, located in the prolific Walker Lane gold trend, hosts multiple high-priority gold and copper targets, including Tower Gold, High Life, Gold Bug and Evening Star. The project site has excellent infrastructure.

We seek Safe Harbor.