Skyline Gold Corporation
TSX VENTURE : SK

Skyline Gold Corporation

June 15, 2009 13:08 ET

Skyline Gold Announces Closing of Convertible Loan Private Placement

RICHMOND, BRITISH COLUMBIA--(Marketwire - June 15, 2009) - Skyline Gold Corporation (TSX VENTURE:SK) ("the Company") a company engaged in the exploration and development of the Bronson Slope project in north western British Columbia's 'Golden Triangle', is pleased to announce that it has closed the private placement of the convertible loan in the amount of $111,875 announced in its June 9, 2009 news release.

The convertible loan bears interest at 12% per annum and matures on June 1, 2010. At the election of the lenders, the loan principal is convertible into the Company's common shares at a price of $0.065 per share. The proceeds of the placement will be used for general corporate purposes and to advance the Bronson Slope Project. The principal and accrued interest may be prepaid, at the Company's election and subject to the lenders' conversion rights of the principal, after December 1, 2009 until the end of the loan term. No commissions or finder's fees were paid on the financing.

ON BEHALF OF THE BOARD OF DIRECTORS

SKYLINE GOLD CORPORATION.

David Jensen, P.Eng., President

Neither 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.

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