Skyline Gold Corporation
TSX VENTURE : SK

Skyline Gold Corporation

December 29, 2009 16:19 ET

Skyline Gold Announces Private Placement

RICHMOND, BRITISH COLUMBIA--(Marketwire - Dec. 29, 2009) - Skyline Gold Corporation ("the Company") (TSX VENTURE:SK), a company engaged in the exploration and development of its 2.6 million ounce Bronson Slope gold project in north western British Columbia's 'Golden Triangle', is pleased to announce that the MineralFields group of funds has agreed to purchase a non-brokered private placement of 2,500,000 flow-through common shares of the Company at a price of $0.10 per share for proceeds of $250,000. Closing of the financing is subject to receipt of TSX approval.

The flow through shares will have a hold period that expires 4 months from the date of issue. A finder's fee of 7% will be paid on the private placement.

In addition, MineralFields has exercised common share purchase warrants it holds for 1,500,000 common shares of the Company at $0.08 per share for non flow through proceeds of $120,000.

ON BEHALF OF THE BOARD OF DIRECTORS

SKYLINE GOLD CORPORATION

Per:

"David Jensen"

David Jensen, P.Eng.
President

Cautionary Statement

Statements in this release may be viewed as forward-looking statements. Such statements involve risks and uncertainties that could cause actual results to differ materially from those projected. There are no assurances the Company can fulfill such forward-looking statements and the Company undertakes no obligation to update statements. Such forward-looking statements are only predictions; actual events or results may differ materially as a result of risks facing the Company, some of which are beyond the Company's control.

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.

Contact Information

  • Skyline Gold Corporation
    David Jensen, P.Eng.
    President
    604.270.3878
    604.270.3858 (FAX)
    www.skylinegold.com