Skyline Gold Corporation
TSX VENTURE : SK

Skyline Gold Corporation

November 19, 2009 11:35 ET

Skyline Gold Secures Additional Mineral Tenure at Bronson Slope

RICHMOND, BRITISH COLUMBIA--(Marketwire - Nov. 19, 2009) - Skyline Gold Corporation ("the Company") (TSX VENTURE:SK), a company engaged in the exploration and development of its Bronson Slope porphyry style gold-copper deposit in north western British Columbia's 'Golden Triangle', is pleased to announce that, subject to final approval by the TSX-Venture Exchange and completion of a payment and work schedule, the Company has entered into an agreement to purchase 100% ownership of 4 mineral tenures at and adjacent to Bronson Slope.

The mineral tenures that have been secured are as follows:

Tenure No:Claim NameGood to DateArea (Hectares)
222135Chopin IOct. 19, 2013500
222136Chopin IIOct. 19, 2013300
221996HandelOct. 19, 2011500
221997RavelOct. 19, 2011500

Acquisition of the mineral tenures secures mineral rights on both a portion of a route of access to the planned Bronson Slope mine as well as for a portion of the Bronson Creek hydro licence for which the Company has made application.

Further, a portion of the acquired mineral tenures lie between the Bronson Slope deposit and the Snip-1 tenure which the Company is currently exploring and is also located on-trend with the Bronson Slope mineralized zone.

Purchase terms of the acquisition are:

  1. An initial payment of $50,000 (completed) with $50,000 of geophysical work required on the property during the first 12 months.
  2. Payment of either $75,000 or delivery of 300,000 Skyline Gold common shares to the vendor by November 17, 2010 with choice of cash payment or Skyline Gold shares at the option of the vendor.
  3. Payment of a final $500,000 by November 17, 2011.

The Company may at any time complete the purchase by making full and final payment of either $575,000 cash or $500,000 cash plus 300,000 Skyline Gold common shares, at the option of the vendor.

An updated mineral tenure map will be posted to the company's website. Mineral tenures can be viewed at: https://www.mtonline.gov.bc.ca/mtov/jsp/searchTenures.jsp

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-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