Skyline Gold Corporation
TSX VENTURE : SK

Skyline Gold Corporation

August 12, 2008 09:34 ET

Skyline Gold Completes Hydroelectric Water Licence Applications

RICHMOND, BRITISH COLUMBIA--(Marketwire - Aug. 12, 2008) - Skyline Gold Corporation ("Skyline") (TSX VENTURE: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 its process to develop or acquire the amount of power required to operate Skyline's proposed Bronson Creek gold/copper mine has resulted in seven applications for water licenses totalling 72 megawatts ("MW") of power and potentially generating 311 gigawatt-hours ("GWh/yr") of electricity annually.

The last two applications filed were for a total 7 MW of power to be generated from proposed run of river sites of King Creek and Fewright Creek in the vicinity of Skyline's Bronson Creek project. These two sites are projected to provide approximately 29 GWh of electricity.

The Bronson Creek project is projected to require up to 170 GWhrs of electricity annually with a peak load of 20 MW's.

Skyline's hydro projects if all equipped would generate excess electricity and could be made available for sale. The need for sustainable year-round power generation will require winter water storage. These sites are being evaluated for storage potential and simulation models are being run to create the optimal combination of run of river and stored water power generation.

There is no assurance that any or all the water licence applications will be granted and the ability to develop these projects will depend on their economic viability, the receipt of permits, consultations with First Nations and available financing.

ON BEHALF OF THE BOARD OF DIRECTORS

SKYLINE GOLD CORPORATION

Cliff Grandison, Chairman and Chief Executive Officer

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-looking statements and the Company undertakes no obligation to update these 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
    Cliff Grandison
    Chairman and Chief Executive Officer
    (604) 270-3878
    (604) 270-3858 (FAX)
    Website: www.skylinegold.com