Skyline Gold Corporation
TSX VENTURE : SK

Skyline Gold Corporation

August 01, 2008 12:51 ET

Skyline Gold Receives Notice of Sufficiency for Two Additional Hydroelectric Water Licence Applications

RICHMOND, BRITISH COLUMBIA--(Marketwire - Aug. 1, 2008) - Skyline Gold Corporation ("Skyline") (TSX VENTURE:SK), a company engaged in the exploration and development of its Bronson Slope mining property in north western British Columbia's 'Golden Triangle', is pleased to announce that it has received formal notification from the B.C. Government of the sufficiency of its application for two additional water licences for the generation of hydro-electric power from the Canyon Creek and Sulphurets Creek drainage areas. The formal acceptance of sufficiency of application is the first step in the review process leading to potential approval on these drainage areas near the Bronson Slope property.

The two sites have the potential to generate a combined 29 megawatts ("MW") of power and 108 gigawatt-hours per year ("GWH/yr") of energy. On March 5, 2008, Skyline announced receipt of notification of sufficiency for its water licence application to generate hydroelectric power from the Bronson Creek drainage area. The Bronson Creek application has been amended with additional water storage to now generate 8.6 MW of power and 39 GWH/yr of energy. Skyline may further amend water licence applications to include licence for storage of water to enhance sustained power generation on a year-round basis.

Skyline has engaged consulting engineers to collect additional hydrological data to optimize plant capacity and design parameters. The three proposed plants will be linked together by a 25 or 69 KV collector line approximately 60 km in length. The alignment of the transmission line will have the potential to interconnect with the Alaskan power grid at the BC/Alaska border 16 km to the west and/or NovaGreenPower's Forrest Kerr Hydroelectric Project approximately 30 km east of Bronson Creek. Either interconnection would, if approved, allow Skyline maximum flexibility with respect to its power options.

Licences are granted upon completion of the review of the application by the stakeholders, and, if the application is selected for a formal environmental review, the receipt of an Environmental Assessment Certificate after solicitation of public input. If the application is not subjected to a formal environmental review, similar reports and supporting data will be required but without solicitation of public input. The water licence applications will now move to stage two of the process where stakeholders have the opportunity to review and comment on the application.

ON BEHALF OF THE BOARD OF DIRECTORS

SKYLINE GOLD CORPORATION

Cliff Grandison, Chairman and Chief Executive Officer

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.

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
    Cliff Grandison
    Chairman and Chief Executive Officer
    (604) 270-3878
    (604) 270-3858 (FAX)
    Website: www.skylinegold.com