August 14, 2008 08:48 ET

eResearch Issues Update Report on Skyline Gold Corporation

TORONTO, ONTARIO--(Marketwire - Aug. 14, 2008) - Skyline Gold Corporation is involved in the exploration and development of mineral projects in northwestern British Columbia. The Company has an advanced exploration/development project, known as Bronson Slope, in the "Golden Triangle" region, a short distance from Barrick Gold's Eskay Creek, NovaGold's Galore Creek, and Copper Fox's Shaft Creek.

The sale of the Forrest Kerr and other hydro-electric development projects by NovaGold to AltaGas Income Trust should accelerate the development of power facilities for Bronson Slope.

When the junior mining sector slumps, causing investor disinterest, access to financing dries up. Where efforts have been successful, often the amounts raised are not large. Without cash flow, a company is forced to scale back activities or even curtail operations completely.

There is no certainty that Skyline will be able to secure sufficient funds to continue its planned capex program once current funds run out, which could be in 2-3 months. If a joint venture partner becomes interested, we think it is more likely to occur when Bronson Slope is more advanced.

In the meantime, solely because there is little investor interest at the present time in the mineral exploration companies, we have reduced our one-year Target Price to $0.25 per share, from $0.35, and we have rescinded our three-year price objective until the junior mining sector stabilizes and its outlook becomes more positive. The shares are a Speculative Buy.

This Press Release was prepared by eResearch and was not vetted by Skyline Gold Corporation. Further, the Recommendation and Target Prices contained in this Press Release and in the Update Report are strictly those of eResearch and, due to securities laws, are not endorsed by Skyline Gold Corporation.

eResearch is a primary source for professional investment research, focused primarily on small- and mid-cap companies. Our research and analysis is of institutional quality, and has the potential of reaching millions of global investors through our extensive electronic distribution network.

Skyline Gold Corporation paid eResearch a fee of $18,500 + GST to conduct research on the Company, on an Annual Continuous Coverage basis.

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