Skygold Ventures Ltd.
TSX VENTURE : SKV

Skygold Ventures Ltd.

July 09, 2008 08:00 ET

Skygold Closes Wildrose Acquisition and Announces New Directors

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 9, 2008) - Skygold Ventures Ltd. ("Skygold") (TSX VENTURE:SKV) announces today that all of the conditions to the acquisition by Skygold of Wildrose Resources Ltd. ("Wildrose"), pursuant to a plan of arrangement under the Business Corporations Act (British Columbia), have been satisfied and the acquisition has now been completed.

Skygold is pleased to announce the election of two new directors, Mr. Christopher Lattanzi and Mr. James Clare, to the Board of Directors of Skygold at the annual and special meeting of shareholders held on June 13, 2008.

Christopher Lattanzi is a mining engineer and was President of Micon International Limited, mineral industry consultants from its founding in 1988 to mid-2005. He has been active in the consulting area since 1967 when he joined David S. Robertson & Associates, Micon's predecessor firm. Prior to joining Robertson & Associates, he was in charge of mine design and operation for Canada's first oil sands operation. He has directed or participated in the preparation of feasibility studies for mineral deposits in Canada, the United States, Africa, Europe and Asia. These projects have involved base metals, precious metals and potash, and initial capital expenditures of up to about $500 million. Mr. Lattanzi recently served as Chairman and lead director of Meridian Gold Corp. prior to that company's merger with Yamana Resources Inc.

James Clare is a lawyer at Fraser Milner Casgrain LLP in Toronto specializing in Mining, Corporate Securities, and Mergers and Acquisitions. Mr. Clare has worked at the Ontario Securities Commission in the Corporate Finance Branch and on numerous resource transactions in the resource sector. He has significant experience in Canadian and international public and private corporate finance transactions, representing both issuers and underwriters. He has also advised public issuers on general corporate and securities law matters including stock exchange listings, continuous disclosure obligations and other regulatory compliance issues. Mr. Clare also serves as a director of Riverside Resources Inc.

As a condition of the acquisition of Wildrose by Skygold, Wildrose was permitted to identify one representative to be appointed to the board of directors of Skygold. Prior to closing of the acquisition, Wildrose identified Rupert Legge, LL.B as its representative. Mr. Legge is currently the Senior Vice President, Legal Affairs and Corporate Secretary for Plutonic Power Corporation, a company listed on the Toronto Stock Exchange that is developing "run of river" hydro-electric power generation projects. Prior to joining Plutonic in January 2008, Mr. Legge practiced securities and corporate finance law for more than 20 years at a major Vancouver law firm.

Mr. Brian Groves, President and CEO of Skygold, commented, "Skygold is very fortunate to have the three new directors join the Board. Each brings key skill sets to the Board as Skygold advances the Spanish Mountain Project. All gentlemen will contribute significantly to the company both at the project and corporate levels."

On behalf of the Board,

SKYGOLD VENTURES LTD.

Brian Groves, President and CEO

Forward-Looking Information

This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that Skygold Ventures Ltd. (the "Company") expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. In this news release, predictions about the advancement of the Spanish Mountain Project are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include the risks inherent in mineral exploration and development, which may not result in discovering a deposit that can be economically mined. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required under applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Skygold Ventures Ltd.
    Tim Mikula
    (604) 484-6317
    (604) 684-0279 (FAX)
    Website: www.skygold.ca
    or
    B&D Capital Partners
    Brad Aelicks
    (604) 685-6465