SKY GOLD CORP - SRKZF STOCK NEWS

Sky Gold Corp. (OTC PINK:SRKZF) announced the completion of a 100% acquisition of three nickel-copper-cobalt-platinum group element properties located in the Shebandowan Greenstone Belt, Ontario. The deal, accepted by the TSX Venture Exchange, involves the issuance of 1.5 million shares, a payment of $20,000, and a 2.5% NSR to the vendors, with a provision to buy back 1.5% for $2 million. If an ore body over 5 million tonnes is identified as commercially viable, an additional 1 million shares will be issued. Notably, no finder's fees are associated with this acquisition.

Sky Gold Corp. (OTC PINK:SRKZF) announced its acquisition of three mineral properties in the Shebandowan Greenstone Belt, northwestern Ontario. The properties are near the historically significant Shebandowan Ni-Cu-Co-PGE deposit, enhancing exploration potential. The acquisition involves issuing 1.5 million shares and a cash payment of $20,000, alongside a 2.5% NSR to the vendors. A private placement is also arranged to raise $800,000 for exploration activities. The company plans to engage indigenous communities for exploration permits and continues to analyze historic data to identify targets for drilling.

Sky Gold Corp (OTC PINK: SRKZF) has announced the effective date for its planned share consolidation, set for January 23, 2023. This consolidation will occur on a basis of three existing shares for one new share, resulting in approximately 28,755,532 shares outstanding post-consolidation. All shareholders, stock options, and warrants will uniformly be affected, with appropriate adjustments made by the company. The company's name and trading symbol will remain unchanged, but a new ISIN and CUSIP number will be assigned. The company aims to restructure its share capital to enhance market conditions.

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.