Skyline Gold Corporation
TSX VENTURE : SK

Skyline Gold Corporation

December 29, 2006 18:03 ET

Skyline Announces Closing of Private Placement

RICHMOND, BRITISH COLUMBIA--(CCNMatthews - Dec. 29, 2006) - Skyline Gold Corporation (the "Company") (TSX VENTURE:SK) is pleased to announce that further to the Company's news release of December 28, 2006, the Company has now closed its non-brokered private placement of 1,995,000 flow-through shares at a price of $0.20 per share for net proceeds of $390,750. Finders' fees were paid on the private placement.

The proceeds from the private placement will be used to pay the balance of costs of the 2006 exploration program and to provide funds to finance the cost of compiling a NI 43-101 compliant current resource estimate for the Company's Bronson Slope property in northwestern British Columbia. The current resource estimate is being prepared by the Company. Sandy Martin, Vice President, Engineering, together with a Qualified Person will begin work on the new estimate once all assay results from this year's program have been received.

All shares issued under this private placement have a hold period expiring April 30, 2007.

ON BEHALF OF THE BOARD OF DIRECTORS

SKYLINE GOLD CORPORATION

J.J. (Jeff) Smulders, President

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
    J.J. (Jeff) Smulders
    President
    (604) 270-3878
    (604) 270-3858 (FAX)
    Website: www.skylinegold.com