Skyline Gold Corporation
TSX VENTURE : SK

Skyline Gold Corporation

November 01, 2011 08:48 ET

Skyline Announces Completion of 2011 Drill Program

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 1, 2011) - Skyline Gold Corporation (TSX VENTURE:SK) ("Skyline" or the "Company") is pleased to announce the successful completion of the 2011 diamond drill program at the Company's wholly owned Iskut River Project in northern British Columbia.

Skyline has completed 1812 metres of diamond drilling in three holes, each of which satisfied multiple purposes. The common theme for each hole was to establish a baseline understanding of the alteration and location of the structural controls that host the high grade gold mineralization that are known to exist along the Snip-Bronson Trend.

Drill hole SK11-19 tested the western end of the Upper Johnny Creek East Anomaly and was extended beyond the proposed 600 metre depth to 696 metres. Drill holes SK11-20 and SK11-21 tested the recently discovered Fuchsite Zone area and both were also drilled beyond their 450 metre and 250 metre proposed depths to 552 metres and 564 metres respectively.

A fourth drill hole, proposed to test the Big Slump Gully this year, has been deferred to the 2012 exploration program because the ideal drill pad will require blasting to construct. Deteriorating weather conditions this fall have made it impractical to complete this drill pad for the 2011 program.

The 2011 drill core is currently being logged in detail and key structural and mineralization features are being recorded with oriented core measurements. All mineralized, sheared and veined intervals are being priority sampled and sent for analyses. Assay results are expected within 4 to 5 weeks.

All 2011 holes are scheduled to undergo geophysical Bore Hole Pulse Electro-Magnetic ("BPEM") surveys before the field phase of the 2011 exploration program concludes. The BPEM survey is underway and is expected to be completed this week, final interpreted results are anticipated within two weeks. If the fall weather permits, this geophysical program will be extended to include a hole completed in 2007, SB07-02.

The attached figure displays a plan view (http://www.skylinegold.com/i/maps/skyline-iskut-bronson-area-NR5.gif) of 2011 drill hole traces in relation to the Bronson Slope Gold-Copper Porphyry, the Snip Underground Mine and the BPEM loops.

The 3-dimensional ("3D") vectoring capabilities of the BPEM survey in combination with the data collected through the oriented core program, is expected to significantly increase our understanding of the mineralized structures and greatly improve the Company's drill hole targeting capabilities for the 2012 exploration program.

The Company's website hosts 3D views of these features through the Snip-Bronson Trend BPEM Layout (http://www.skylinegold.com/i/maps/3d-bitmaps2-view-S.jpg) link. Details on the objectives of hole SB07-02, as well as a 3D view of this target are available through the Snip Down-Dip Extension (http://www.skylinegold.com/s/LiveUpdate/ModifyGenReport.asp?rt=9025&_Type=Snip-Down-Dip-Extension&_Itx=JKcjXM6) link.

This news release, with fully functional hyper-links, is available on the Company website, www.skylinegold.com.

The Qualified Person responsible for this news release under the terms of National Instrument 43-101 is John Zbeetnoff, P.Geo.

On Behalf of the Board of Directors

Skyline Gold Corporation

John Zbeetnoff, Chief Executive Officer

Cautionary Statements

Statements in this release may be viewed as forward-looking statements. Such statements involve risks and uncertainties that could cause actual events to differ materially from those projected. There are no assurances the Company can fulfil such forward-looking statements and the Company undertakes no obligation to update statements. Such forward-looking statements are only predictions; actual events or results may differ materially as a result of risks facing the Company, some of which are beyond the Company's control.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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