Skygold Ventures Ltd.
TSX VENTURE : SKV

Skygold Ventures Ltd.

June 13, 2005 08:00 ET

Skygold Ventures Ltd.: 94.5 Metre Intercept Expands Open Pit Potential at Spanish Mtn.

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - June 13, 2005) - Skygold Ventures Ltd. (TSX VENTURE:SKV) has now received the results for the first five holes of a sixteen-hole reverse circulation drill program initiated in early May 2005 on the Spanish Mountain project located in the Cariboo Region of BC. The first holes have expanded the stratigraphic mineralization moving North East and West.

The first hole of the current program hole 235 targeting the northern most area of a large panel of stratigraphically controlled mineralization and the furthest hole ever drilled to the North returned an intercept of 94.5m (310 feet) grading 1.81 grams per tonne gold bottoming in mineralization at 117.4 metres. Included within the section were higher grade intervals of 2.35 grams per tonne gold over 65.5 metres (215 feet) and included an interval of 22.9 metres (75 feet) grading 5.04 g/t gold. Hole 235 is located 55 metres to the east of hole 216 drilled in Nov 2004. Hole 216 returned an intercept of 57.8 metres (190 feet) grading 1.11 g/t gold including 16.7 metres (55 feet) grading 2.15 g/t. The mineralized area intersected by holes 216 and 235 remains completely open to the north and to the east and to depth.

The second hole of the current program, hole 236, located 450 metres southeast of hole 235, and still in the same panel of the chargeability anomaly intersected two significant stratigraphically controlled intercepts. The first intercept included 27.4 metres (90 feet) grading 1.09 g/t gold and the second intercept included 21.4 metres (70 feet) grading 1.41 g/t.

Hole 237 and 238 were reconnaissance holes drilled approximately 650 metres to the west of hole 235. Hole 237 was abandoned due to caving and no significant results were obtained here in either hole.

Hole 239 was collared approximately 25 metres south of hole 228 (drilled in 2004) and returned two stratigraphically controlled intercepts of approximately one half gram per ton gold each over 21.4 metres (70 feet) and 24.4 metres (80 feet) respectively. The four-metre thick quartz vein that formed the hanging wall to the mineralization in hole 228 was not encountered leading to a current interpretation that a fault located south of hole 228 may have disrupted the mineralization. The hole confirms that thick stratigraphic mineralized zones continue to the west as the geophysics has suggested. This area was followed up with additional drilling later in the program and results are still pending. Drilling was suspended on June 8 to allow the drill to satisfy commitments to conduct drilling on the nearby Woodjam project and to allow the remaining results to be received and compiled.

Gold mineralization at Spanish Mountain is both structurally and stratigraphically controlled. Stratigraphically controlled mineralization occurs as conformable layers of pyritized dark shale and siltstone near stratigraphic contacts while structural styles of mineralization occur within sheared and broken material, often with quartz.

A location map of the full 2005-drill program will be posted on Skygold webpage www.skygold.ca within the next week.

The Spanish Mountain property is road accessible ten kilometres from the Village of Likely. The project is a joint venture between Wildrose Resources Ltd. (TSX VENTURE:WRS) with Wildrose holding a 30% participating interest and Skygold a 70% interest. Wildrose additionally is a significant shareholder of Skygold owning 700,000 shares.

Eco Tech Laboratories Ltd. of Kamloops, B.C conducted sample preparation and analyses of samples. Eco Tech routinely inserted its own standards into the sample stream and Wildrose/Skygold submitted additional certified reference standards into the sample batches as part of the quality control program.

J.W. (Bill) Morton, P. Geo. is the qualified person who has reviewed this news release.



A summary of the five holes are as follows:

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From To Interval Interval Gold
Hole # (m) (m) (m) (ft) g/t
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235 22.9 117.4 94.5 310 1.81
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includes 22.9 88.4 65.5 215 2.35
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includes 65.5 88.4 22.9 75 5.04
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Bottom of hole 235 117.4 metres
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236 9.2 36.6 27.4 90 1.09
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and 53.3 74.7 21.4 70 1.41
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Bottom of hole 236 99.1 metres
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237 No Significant Results
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Bottom of hole 237 30.4 metres
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238 No Significant Results
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Bottom of hole 238 115.8 metres
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239 27.4 48.8 21.4 70 0.47
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and 96.0 120.4 24.4 80 0.45
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Bottom of hole 239 120.4 metres
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On Behalf of the Board,

SKYGOLD VENTURES LTD.

Doug Fulcher, President

This news release may contain certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the TSX Venture Exchange, the British Columbia Securities Commission and the US Securities and Exchange Commission.


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

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