SKY GOLD CORP - SRKZF STOCK NEWS

Sky Gold Corp (TSXV:SKYG)(US:SRKZF) has received NOI level permits from the US Bureau of Land Management to drill its Evening Star Copper-Gold property in Mineral County, NV. The company plans a 3,500-foot drill program targeting two main areas: the Highlife Copper porphyry/skarn target and the Tower Gold intrusion-hosted target. At Highlife, samples showed up to 1.54% copper and 0.159 ppm gold, while Tower Gold rock samples yielded up to 18.21 ppm gold and 1.16% copper. The 1,450-acre property is located in the Walker Lane Trend, 10 miles east of Hawthorne and 52 miles southeast of the Yerington porphyry copper deposit.

Sky Gold Corp. (TSXV:SKYG)(OTC PINK:SRKZF) has received a 30-day extension from the TSX Venture Exchange to close its previously announced non-brokered private placement. The company has already closed two tranches of the placement, raising gross proceeds of $366,400. This includes the issuance of 6,600,000 non-flow-through units at $0.05 per unit and 520,000 flow-through units at $0.07 per unit.

Each non-flow-through unit comprises one common share and one transferrable share purchase warrant, allowing the holder to purchase an additional share at $0.07 for 36 months. Flow-through units include one flow-through share and one non-flow-through warrant, enabling the purchase of an additional non-flow-through share at $0.10 for 24 months. All securities are subject to a 4-month statutory hold period. The financing awaits final approval from the TSXV.

On July 5, 2024, Sky Gold Corp. (TSXV:SKYG, US:SRKZF) announced a 30-day extension granted by the TSX Venture Exchange to close its non-brokered private placement.

The company has raised $366,400 through two tranches, issuing 6,600,000 non-flow-through units at $0.05 per unit and 520,000 flow-through units at $0.07 per unit. Each non-flow-through unit comprises one common share and one warrant, allowing the holder to purchase an additional share at $0.07 within 36 months. Each flow-through unit comprises one flow-through share and one non-flow-through warrant, allowing the purchase of an additional non-flow-through share at $0.10 within 24 months.

All issued securities have a hold period of four months plus one day. The financing awaits final TSX Venture Exchange approval.

Sky Gold Corp. (TSXV:SKYG)(OTC PINK:SRKZF) has successfully closed the second tranche of its non-brokered private placement, raising gross proceeds of $36,400.

The company issued 520,000 flow-through units (FT Units) at $0.07 per unit. Each FT Unit includes one common flow-through share and one transferrable non-flow-through share purchase warrant. The warrant allows the purchase of an additional share at $0.10 within 24 months.

In this tranche, Sky Gold Corp. paid $1,680 in finders' fees and issued 24,000 non-transferable share purchase warrants to Sherbrooke Street Capital Inc., with each warrant exercisable at $0.10 for 12 months.

All issued securities are subject to a statutory hold period ending October 27, 2024. The funds will support exploration activities and general administrative purposes. Final approval from the TSX Venture Exchange is pending.

Sky Gold Corp. (TSXV:SKYG, US:SRKZF) has completed the first tranche of its non-brokered private placement, raising $330,000. The company issued 6.6 million non-flow through units (NFT Units) at $0.05 per Unit, each consisting of one common share and one transferrable share purchase warrant. Each warrant allows the holder to purchase an additional share at $0.07 within 36 months. Sky Gold paid $22,000 in total finders' fees and issued 440,000 non-transferable share purchase warrants to Canaccord Genuity Corp. and Sherbrooke Street Capital. Senior officers subscribed for 700,000 units, constituting a related party transaction under MI 61-101 regulations. The financing awaits final TSX Venture Exchange approval, with proceeds earmarked for exploration and general administrative expenses.

Sky Gold announced the completion of a basal till geochemical sampling program on its Consolidated Shebandowan Property in Northwestern Ontario. This 5,894-hectare property is located near the past-producing Shebandowan mine. Historic gold occurrences and one zinc occurrence were identified and prioritized for further exploration.

Sampling by ALS Global covered high-quality targets, including a 2 km by 2 km gold-in-soil anomaly and a 5 km by 7 km nickel-copper-cobalt-chrome-platinum anomaly. The detailed sampling will provide refined data for ongoing exploration. Analytical results are expected within three weeks, to be followed by geological mapping, trenching, and diamond drilling later this summer.

Sky Gold Corp. (TSXV:SKYG)(OTC PINK:SRKZF) has updated its agreement with Delta Resources concerning the Horne and Laurie properties. Sky has granted Delta an option to acquire a 100% interest in these properties, located in Thunder Bay, Ontario. Sky issued 1.2 million shares to the Underlying Optionors and retained a 1.0% NSR royalty, with Delta assuming other obligations. Delta issued 1.4 million common shares to Sky, with a statutory hold period of four months for all shares, and a contractual one-year transfer restriction on 1.0 million shares. Delta also paid Sky $75,000.

Sky Gold has launched a spring exploration program on its Consolidated Shebandowan property in Northwestern Ontario. The focus is on two high-priority targets: the Mingold Au soil anomaly and a large Ni-Cu-Co-Cr-PGE anomaly. The property, encompassing 5,894 hectares, is located near the historic Shebandowan Ni-Cu-Co-Cr-PGE mine.

ALS Global is conducting detailed soil and till geochemistry surveys to define the size and strength of these targets. Geological mapping and prospecting will follow. The company also announced a $350,000 non-brokered private placement for further exploration financing. Results from the geochemical work are expected within two weeks.

Sky Gold has filed a Notice of Intent to drill at its Evening Star Copper-Gold property in Mineral County, Nevada. The 1,450-acre property is located in the Pamlico Mining District and is believed to have potential for undiscovered copper-gold deposits. Recent surveys identified two areas with significant copper-gold mineralization at the surface, including the High-Life and Tower Gold targets. The company plans to drill multiple holes at both targets to further explore these findings. The High-Life target showed soil samples with up to 1,620 ppm copper and 0.212 ppm gold, while the Tower Gold target exhibited rock samples with up to 18.21 ppm gold and 1.16% copper. CEO Mike England noted that increasing commodity prices have renewed interest in mining exploration.