Skyline Gold Corporation
TSX VENTURE : SK

Skyline Gold Corporation

December 05, 2011 18:52 ET

Skyline Gold Amends Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 5, 2011) - Skyline Gold Corporation (TSX VENTURE:SK) ("Skyline" or the "Company") is pleased to announce that, subject to TSX Venture Exchange ("TSX") approval, it has amended its previously announced non-brokered private placement financing, see news release dated November 11, 2011, of $2.5 million dollars to include Non-Flow Through Units ("NFT Units").

Each NFT Unit will consist of one common share at a price of $0.17 per share and one-half share purchase warrant. Each whole warrant will entitle the holder to purchase one additional non-flow through common share of the Company at a price of $0.35 per share for a period of 24 months from the date of issue. Expiry of the warrants may be accelerated, after the 4 month and one day hold period, if the closing price of the Company's common shares equals or exceeds $0.60 per share for a period of 10 consecutive trading days on the TSX; in such case, the expiry date shall be the 30th day after written notice is given to the warrant holders.

It is anticipated that the private placement financing will close on or about December 18, 2011. In accordance with Exchange regulations, finders' fees may be payable to accredited agents on that portion of the funds raised by third parties.

This news release is available on the Company website, www.skylinegold.com.

On Behalf of the Board of Directors

Skyline Gold Corporation

John Zbeetnoff, Chief Executive Officer

Cautionary Statements: 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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