Skyline Gold Corporation

Skyline Gold Corporation

August 07, 2009 15:45 ET

Skyline Gold Announces Private Placement

RICHMOND, BRITISH COLUMBIA--(Marketwire - Aug. 7, 2009) - Skyline Gold Corporation ("the Company") (TSX VENTUYRE:SK), a company engaged in the exploration and development of its Bronson Slope mining property in north western British Columbia's 'Golden Triangle', is pleased to announce that it has secured, subject to TSX final approval, a non-brokered private placement of 1,332,167 units at a price of $0.18 per unit for proceeds of $239,790. The proceeds of the placement will be used for general corporate purposes and to advance the Bronson Slope Project.

Each unit consists of 2 flow through common shares each priced at $0.06 and 1 non flow through common share priced at $0.06 and 1/2 of a share purchase warrant. Each whole warrant will entitle the holder to purchase one additional share of the Company at a price of $0.08 per share for a period of one year from date of issue. The units have a hold period that expires 4 months from the date of issue. Finders' fees of $9,119 will be paid on the private placement.



David Jensen, P.Eng., President

Cautionary Statement

Statements in this release may be viewed as forward-looking statements. Such statements involve risks and uncertainties that could cause actual results to differ materially from those projected. There are no assurances the Company can fulfil such forward-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.

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
    David Jensen, P.Eng.
    604 270 3878
    604 270 3858 (FAX)