SKY GOLD CORP - SRKZF STOCK NEWS

Sky Gold Corp (OTC PINK:SRKZF) announced a proposed share consolidation of three existing shares for one new share, reducing the outstanding shares from approximately 86.3 million to about 28.8 million. This restructuring aims to enhance the company’s market competitiveness and attract a broader range of investors. The consolidation will uniformly affect all shareholders, including adjustments to stock options and warrants. Completion of this consolidation is contingent upon TSX Venture Exchange approval.

Sky Gold Corp (OTC PINK: SRKZF) has initiated work with Goldspot Discoveries Group Corp on its Mustang property in Newfoundland. The aim is to advance drill targets along the Mustang Fault and related structures adjacent to New Found Gold Corp's Appleton Fault. The Mustang Zone, extending over 3 km, has historical gold mineralization dating back to 1987 and has shown significant potential with previous drilling results. The upcoming program seeks to leverage existing geological data to identify viable drill targets for 2023.

Sky Gold Corp. (US:SRKZF) has closed a non-brokered private placement, raising $474,200.02 through the issuance of 1,236,667 Flow-through units and 8,000,000 non-flow-through units. Each unit includes common shares and warrants, allowing purchase at $0.08 per share for 24 months. Finders' fees of $7,500 and additional warrants were also paid. A senior officer subscribed for 700,000 Units, classified as a related party transaction. Funds will support work at the Mustang property in Newfoundland and cover general expenses.

Sky Gold Corp (OTC PINK:SRKZF) announced a partnership with Goldspot Discoveries Group to advance its Mustang property in Newfoundland. A 3-week sampling program has concluded at the Virginia property, with assay results pending. The company is raising funds through two non-brokered private placements: 5 million flow-through units at $0.06 for $300,000 and 6 million units at $0.05 for another $300,000. Proceeds will support ongoing work at Mustang and general corporate expenses. Both offerings await TSX Venture Exchange approval and involve standard hold periods for securities.

Sky Gold Corp. (OTC PINK:SRKZF) has launched a field program at its Virginia property, adjacent to the Queensway Gold Project and Labrador Gold's Kingsway project. The initiative involves rock sampling and trenching aimed at known vein occurrences. The Company is also strategizing an upcoming work program at its Mustang property. Sky Gold is engaged in mineral exploration, focusing on properties in Newfoundland, including Mustang and Virginia, and owns the Evening Star property in Nevada and the Imperial Project in Quebec.

Sky Gold Corp. (TSXV:SKYG)(OTC PINK:SRKZF) has announced the appointment of Leon Ho as new Chief Financial Officer, replacing John Masters, who also resigns from the Board and the position of Corporate Secretary. Mr. Ho is a chartered accountant with Cross Davis & Company LLP, specializing in services for publicly listed mining entities. Additionally, the Company has granted 2,000,000 stock options at $0.08 for two years to its directors, officers, and consultants, in line with its stock option plan. Sky Gold is focused on mineral exploration and property acquisition worldwide.

Sky Gold Corp. has appointed Aaron McBreairty, a geologist with over nine years of experience in mineral exploration, to its Board of Directors. McBreairty has previously managed projects like the Red Lake Cole Gold Project and has worked with various firms across Canada. CEO Mike England expressed confidence in McBreairty's technical skills. Additionally, Catherine Fitzgerald has stepped down from the board, but will retain an advisory role. This leadership change aims to enhance the company's strategic direction in mineral exploration.

Sky Gold Corp. (OTC PINK: SRKZF) has announced plans for the 2022 exploration season at its Mustang property in Newfoundland, adjacent to New Found Gold's Queensway project. The exploration will include IP geophysics, soil and rock sampling, and geological mapping, to define multiple targets. Notably, the North Woodman Pond target showed gold-in-soil values of up to 55 ppb. Last year's drilling efforts revealed lower-grade gold intervals, indicating the potential for bulk-style mining. The company also has all permits for its Virginia property, enhancing its exploration capabilities.

Sky Gold Corp (OTC PINK:SRKZF) has applied to the TSX Venture Exchange to extend the expiry of 6,050,000 warrants from December 23, 2021, to December 23, 2023. The exercise price remains at $0.10 per warrant, allowing each warrant to be exchanged for one common share. This amendment is pending approval from the TSX Venture Exchange. The company's CEO, Mike England, signed off on the announcement.