Skyline Gold Corporation
TSX VENTURE : SK

Skyline Gold Corporation

August 25, 2010 20:07 ET

Skyline Gold Closes Private Placements Totalling $930,736

RICHMOND, BRITISH COLUMBIA--(Marketwire - Aug. 25, 2010) - Skyline Gold Corporation (TSX VENTURE:SK) ("the Company"), a company engaged in the exploration and development of its Bronson Slope gold, copper, silver and magnetite project in north western British Columbia's 'Golden Triangle', is pleased to announce that it has received TSX approval for its non-brokered private placements, previously announced on August 19, 2010, and has closed the placement.

The first placement is 5,128,628 units at a price of $0.14 per unit for proceeds of $718,008. Each unit consists of 1 common share priced at $0.14 per share and ½ (one half) of a share purchase warrant. Each whole warrant entitles the holder to purchase one common share in the Company at a price of $0.17 for two years from the date of issue.

The second placement is a flow-through share private placement consisting of 1,251,341 common shares priced at $0.17 per share for proceeds of $212,728.

Interest in the placement exceeded the amount available. All shares issued in the two placements have a hold period expiring 4 months from the date of issue. 

The proceeds of the placement will be used for general corporate purposes, for mineral exploration of the Company's B.C. mineral property, and to advance the Bronson Slope Project. Finders' fees totalling $50,410 will be paid for the placements.

ON BEHALF OF THE BOARD OF DIRECTORS

SKYLINE GOLD CORPORATION

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 fulfil such forward-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.

For further information contact Skyline Gold Corporation. www.skylinegold.com

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