Skyline Gold Corporation
TSX VENTURE : SK

Skyline Gold Corporation

May 09, 2011 09:00 ET

Skyline Gold Announces Results From Annual Meeting of Shareholders

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 9, 2011) - Skyline Gold Corporation (TSX VENTURE:SK) (the "Company" or "Skyline") is pleased to announce that all resolutions were approved by shareholders of the Company at its April 28, 2011 Annual Meeting of Shareholders ("AGM").

A total of 14,001,360 common shares were voted representing 10.48% of the outstanding voting shares of the Company.

The shareholders re-elected Clifford Grandison, Lorne Anderson, Linda Hogg, Sandy Martin, Christopher Mitchell, Robert Matthews and Patrick Soares to the Board of Directors ("Board").

Former director Jeff Smulders did not stand for re-election and the Board would like to thank Mr. Smulders for his service to the Company.

Three of the Company's leading geologists; Patrick Soares, John Zbeetnoff and David Yeager have offered to take their accrued net (of taxes) compensation in shares of the Company. The Board, with Mr. Soares abstaining, accepted these terms of payment. The shares will be issued at the closing price on April 28, 2011 pending approval by the TSX Venture Exchange.

Patrick Soares has been the Chief Executive Officer ("CEO") of Skyline for the past eight months. Mr. Soares has, at the Boards request, successfully completed the implementation of the new exploration based focus for Skyline.

Skyline's exploration activities require the focus of a full time CEO. At the current time Mr. Soares is CEO of two Canadian based exploration companies. Mr. Soares, as well as the Board, has agreed that the role of CEO of Skyline is better suited to someone who can devote all their time to the Company. Mr. Soares will continue as an active member of the Board but has resigned as the CEO. The Board has appointed Clifford Grandison as Chief Executive Officer while a search for a CEO with an exploration background is conducted.

Robert Matthews has agreed to assume the duties of the non-executive Chairman of the Board. The Board has also re-appointed Lorne Anderson as Chief Financial Officer, James Sparling as Chief Operating Officer, and Connie Norman as Corporate Secretary and appointed Carol-Anne Lunshof as Corporate Controller.

Patrick Soares and the Board are pleased with the progress made by the seasoned exploration team of Jim Sparling, John Zbeetnoff, Dave Yeager, and Bill Hay.

"We are confident that this team can successfully excel the exploration success at Skyline's Iskut properties," says Patrick Soares.

The extensive geological compilation is continuing and the deployment of the 2011 field season, weather and ground conditions permitting, is anticipated to start in early June.

Skyline Gold Corporation is a Canadian company engaged in the exploration of precious and base metal properties in mining-friendly British Columbia, Canada. Skyline Gold is committed to further developing its good working relationship with the Tahltan First Nation in Northern British Columbia, and is building an experienced technical team with seasoned management. Further details on Skyline Gold Corporation and its high quality precious and base metal exploration targets can be found at www.skylinegold.com.

Skyline Gold Corporation

Clifford Grandison, Chief Executive Officer

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.

Contact Information

  • Skyline Gold Corporation
    Clifford Grandison
    Chief Executive Officer
    604 681 3989
    604 681 3557 (FAX)
    www.skylinegold.com