Skygold Ventures Ltd.
TSX VENTURE : SKV

Skygold Ventures Ltd.

January 10, 2008 08:02 ET

Skygold Ventures Ltd.: Excellent Gold Recoveries Confirmed at Spanish Mountain

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 10, 2008) - Skygold Ventures Ltd. ("Skygold") (TSX VENTURE:SKV) and Wildrose Resources Ltd. ("Wildrose") (TSX VENTURE:WRS) are pleased to announce metallurgical test results from the on-going exploration and development program at the Spanish Mountain Project in Central British Columbia. The results of the test work indicate gold recoveries in the range of 88-90 %.

Scott Weekes, VP Exploration, stated: "The metallurgical testing has returned very high gold recoveries from a very simple circuit and is a big step forward in the development of the Spanish Mountain project. Three drills are planned to start up in mid January to continue to expand the Main Zone mineralization as well as to continue to test targets away from the Main Zone. A 43-101 compliant resource estimate for the Main Zone is still on track to be completed in the first quarter of 2008 and along with the metallurgical results will form the basis of initial economic studies."

G&T Metallurgical Services of Kamloops BC and Westcoast Mineral Testing of North Vancouver have completed a program of bench scale testing on four composites from Skygold's Spanish Mountain gold project.

The results from the testing are very encouraging, having determined the following:

- After grinding to somewhat coarser than 50 % passing 74 microns, 95 % of the gold can be recovered into rougher concentrate from feed grading 1.2 to 1.5 g/t Au.

- The rougher concentrate after cleaning and regrinding, to finer than 80 % passing 30 microns, responds well to carbon-in-leach (CIL) cyanidation to recover essentially 95 % of the gold in that product.

- The combined circuit gold recovery is expected to be in the range of 88 - 90 %.

As the project advances to the feasibility stage, additional bench scale testing will be required to investigate any variability in process requirements, but at this stage, the major processing parameters are well understood.

The technical content of this release has been prepared by Mineral Processing Engineer, Gary Hawthorn, P. Eng, an independent qualified person as defined by NI 43-101.

On Behalf of the Board,

SKYGOLD VENTURES LTD.

Brian Groves, President

This news release may contain certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. Actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the TSX Venture Exchange, the British Columbia Securities Commission and the US Securities and Exchange Commission.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

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