Skyline Gold Corporation
TSX VENTURE : SK

Skyline Gold Corporation

July 10, 2007 09:30 ET

Skyline Announces Closing of Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 10, 2007) - Skyline Gold Corporation ("Skyline" or the "Company") (TSX:SK) is pleased to announce that further to the Company's news releases of June 18 and June 22, 2007, the Company has closed the first tranche of its non-brokered private placement as to 5,525,000 flow-through shares at a price of $0.20 per share for net proceeds of $1,061,150. Finders' fees were paid on the private placement. The shares have a hold period expiring November 10, 2007.

The proceeds from the private placement will be used to begin the 2007 drilling program on the Company's 100% owned Bronson Slope deposit in northwestern British Columbia. Skyline employees and consultants arrived in the Bronson camp on July 1 and the first drill from Black Hawk Drilling Ltd. is being mobilized to the property today.

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