Skygold Ventures Ltd.
TSX VENTURE : SKV

Skygold Ventures Ltd.

October 13, 2009 08:00 ET

Skygold Announces Appointment of New Director

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 13, 2009) - Skygold Ventures Ltd. ("Skygold" or "the Company") (TSX VENTURE:SKV) is pleased to announce the appointment of Donald Sharp, C.A. as a director of Skygold.

Mr. Sharp has a strong accounting background and is a member of the Institute of Chartered Accountants of British Columbia. He has worked in the mining industry in Canada and elsewhere since 1966 and has served in such senior management roles as chief financial officer and corporate secretary with companies working principally in the western portion of North America. His experience in the mineral exploration industry ranges from companies in the early stage of exploration through to those in production.

Mr. Sharp is currently the Chief Financial Officer and a director of Eastfield Resources Ltd, Cariboo Rose Resources Ltd and Lorraine Copper Corp.

Brian Groves, President and Chief Executive Officer of Skygold commented, "We are very pleased to have Mr. Sharp join the Board of Skygold. His strong accounting and financial background will be very helpful for Skygold's future development."

The Company reports that Mr. Rupert Legge has resigned as a director due to the increasing demands of his other business commitments. The directors of Skygold express their appreciation of his contribution to the Company's progress.

Skygold reports that it has granted options to acquire an aggregate of 700,000 common shares of the Company to incoming directors and an existing director of the Company, in each case at an exercise price of $0.29 until October 12, 2014. The foregoing is subject to regulatory acceptance.

About Skygold

Skygold is an exploration company focused on advancing its flagship Spanish Mountain gold project in central southern British Columbia. The Company is well funded with a current cash position of $3.6 million and has applied for Mineral Exploration Tax Credit refund from the Province of British Columbia totaling $1.9 million. These funds are expected to be received in 2009.

On Behalf of the Board,

SKYGOLD VENTURES LTD.

Brian Groves, President

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Skygold Ventures Ltd.
    Tim Mikula
    (604) 484-6317
    (604) 684-0279 (FAX)
    www.skygold.ca
    or
    B&D Capital Partners
    Brad Aelicks
    (604) 685-6465