Sky Gold Corp. announced that the spring exploration program on its Consolidated Shebandowan nickel-copper-cobalt-chrome-platinum group element-gold property has commenced. The exploration program, involving detailed geochemical sampling with subsequent geological mapping and prospecting, will focus on 2 high-quality exploration targets known as the Mingold Au Soil anomaly (orogenic gold target) and a strong, extensive Ni-Cu-Co-Cr-PGE anomaly (magmatic nickel-sulphide target).

The Property, comprising 5,894 hectares, is situated 70 km west of the City of Thunder Bay and 6 km southwest of the past-producing Shebandowan Ni-Cu-Co- Cr-PGE mine, operated by Inco Ltd. during the period of 1970 to 1989. The Shebandowan mine is a world-class example of a primary magmatic nickel sulphide deposit with production tonnage and grade of 8.7 MT at 2.0% nickel, 1.0% copper & 3.0 g/t platinum + palladium (cobalt & chrome grades are unknown). Current Exploration Program: ALS Global has commenced detailed soil and till geochemistry surveys over the Mingold Au soil and the main Ni-Cu-Co-cr-PGE anomalies, to provide detail on the size, strength and extent of the prime target areas.

Historical geochemical sampling completed over both target areas was regional in extent, featuring widely-spaced sample sites; detailed sampling is required to localize and more tightly define targets. In the coming weeks, geological mapping and prospecting will be completed over both target areas, in view of the abundance of outcrops and shallow overburden conditions prevalent on the Property. The large anomaly appears to be bounded by the ENE-trending Tinto Lake fault and an unnamed parallel fault situated to the NW of it, suggesting that the anomaly as a whole is related to deep, crustal-scale faulting.

The Shebandow mine is hosted within ultramafic rocks (komatiites) proximal and within the crustal-scale Crayfish Creek fault. The Ni-Cu-Co-Car-PGE anomaly is underlain by mafic and ultramafic rocks, similar to the host rocks containing mineralization at the Shebandowan mine. The strong extensive Ni-Cu-Co -Cr-PGE geochemical anomaly is associated with mafic-ultramafic rocks, as well as a large magnetic feature (magnetic high) and strong EM conductors yielded by the VTEM survey.

Collectively, this strongly suggests a local bedrock source for the subject geochemical anomaly. The Mingold Au soil anomaly and the Ni-Cu-Co- cr-PGE anomaly offer high discovery potential, in view of their structural, stratigraphic and geochemical similarities with the neighboring Eureka gold discovery and the Shebandowan Ni-Cu -Co-Cr-PGE mine. Additionally, the presence of strong extensive Ni-Cu- Co-Cr-PGE and Augeo chemistry anomalies coupled with strong hydrothermal alteration within highly deformed lithotypes present at both target areas, clearly enhances this potential.

Sky Gold further announces it has arranged a non-brokered private placement of 5,000,000 flow-through units at a price of $0.07 per FT Unit for aggregate gross proceeds of $350,000. The FT Units will entitle the holder to receive the tax benefits applicable to flow-through shares, in accordance with provisions of the Income Tax Act (Canada). Each flow-through shares will receive the tax benefits applicable to Flow-through shares, in accordance With provisions of the Income Tax Act .

Each flow-through units . Each flow- through the "FT Units") and a strong flow-through units") at a price of $1.07 per FT Unit, for aggregate net proceeds of $350,000". Each flow-through shares") will entitle the holder to receive The FT Units will entitle the tax benefits applicable to receive the tax benefits applicable To receive the tax benefits applicable to receive The flow-through shares, in order with provisions of the income Tax Act Each flow- through the Income Tax Act (Canada").

Each flow-through shares, in addition with provisions of the income tax benefits applicable to receive the Income Tax Act (the "FT Units will receive the Income Tax Act (orogenic gold target, in accordance with provisions of $350, in accordance with provisions of flow-through shares of the Income Tax Act ("FT Units will receive the income tax benefits applicable to the Income Tax Act ("FT Unit") and a tax benefits applicable to receive the income from the Income Tax Act (the 'Canada).