Skygold Ventures Ltd.
TSX VENTURE : SKV

Skygold Ventures Ltd.

September 28, 2009 08:00 ET

Skygold Introduces Incoming Director

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 28, 2009) - Skygold Ventures Ltd. ("Skygold" or the "Company")(TSX VENTURE:SKV) is pleased to announce that Ian Watson is to be appointed to the Board of Directors of Skygold.

Mr. Watson began his career in stock broking and investment banking in Canada where he became one of the five Executive Committee members of Burns Fry (now BMO Nesbitt Burns), one of Canada's largest investment banking firms. When he resigned, he was in charge of the firm's European business.

From 1982 until 1985 Mr. Watson was Chairman and founder of Centennial Minerals Ltd, a public gold mining company listed on the Toronto Stock Exchange. Three years after it started, the company's success was reflected by a friendly take-over by Pegasus Gold for $40 million in shares and warrants.

Mr. Watson was Chairman & Managing Director of Galahad Gold PLC from 2003 to 2008. Galahad made strategic investments in Northern Dynasty Minerals Ltd., Uramin Inc. and International Molybdenum PLC. The sale of these investments produced an overall return of over 65% per annum. Galahad was voluntarily liquidated and cash returned to shareholders.

Mr. Watson is currently Chairman & Managing Director of Agrifirma Services Ltd., and Chairman of Agrifirma Brazil Ltd., a company recently created to invest in agriculture in Brazil.

The Chief Executive Officer of Skygold, Brian Groves, said today: "Mr. Watson has strong financial contacts in the investment community through his international business dealings. His public company experience, track record of raising substantial capital and expertise in evaluating strategic investments in mining projects will greatly assist Skygold with its business development plans."

The Company reports also that Jeff Pontius has resigned as a director and notes its appreciation for his past service to the Board of Directors.

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 $2.2 million, excluding the proceeds of up to $2.2 million from the private placement announced on 23 September 2009. The private placement is subject to the final acceptance of the TSX Venture Exchange. The Company has applied for Mineral Exploration Tax Credit refunds from the Province of British Columbia totaling $1.9 million. These funds are expected to be received in 2009. For more information, please visit www.skygold.ca.

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
    (604) 685-6465