Skyline Gold Corporation
TSX VENTURE : SK

Skyline Gold Corporation

October 26, 2007 12:42 ET

Skyline Announces Closing of Private Placements

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 26, 2007) - Skyline Gold Corporation ("Skyline" or the "Company") (TSX VENTURE:SK) is pleased to announce that further to its news release of October 16, 2007, the Company has closed the non-brokered private placements as to 3,302,500 flow-through common shares at a price of $0.24 per share for net proceeds of $766,240 and 1,255,000 units at a price of $0.20 per unit for net proceeds of $243,450. Each unit consists of one common share and one-half of a share purchase warrant. Each whole warrant will entitle the holder to purchase one additional share of the Company at a price of $0.24 per share for a period of two years from the date of issue. The common shares have a hold period expiring on February 26, 2008. Finders' fees were paid on the private placements.

1,041,666 of the flow-through common shares were placed with the MineralFields Group ("MineralFields") from Toronto, Ontario. Skyline is very pleased to be continuing its relationship with MineralFields and looks forward to working with MineralFields as we develop the Bronson Slope gold-copper-silver-molybdenum deposit.

ON BEHALF OF THE BOARD OF DIRECTORS

SKYLINE GOLD CORPORATION.

J.J. (Jeff) Smulders, President

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

Contact Information

  • Skyline Gold Corporation
    J.J. (Jeff) Smulders
    President
    (604) 270-3878
    (604) 270-3858 (FAX)
    Website: www.skylinegold.com