Skyline Gold Corporation

Skyline Gold Corporation

February 10, 2011 09:00 ET

Skyline Gold Management Changes Reflect New Strategies

RICHMOND, BRITISH COLUMBIA--(Marketwire - Feb. 10, 2011) - Skyline Gold Corporation ("the Company") (TSX VENTURE:SK) wishes to announce the resignation of David Jensen, President and Chief Operating Officer. Mr. Jensen, who has been with the Company for the past two and one half years, has overseen the successful advancement of the Bronson Slope project through an Updated Preliminary Assessment Technical Report with an estimated Life of Mine mill feed of 2.2 million ounces of gold (Leighton Asia - March 6, 2009; Moose Mountain Technical Services - November 5, 2010). Additionally Mr. Jensen was instrumental in assembling the current significant land package in the historic gold area of the Snip-Eskay Creek region of northern BC. The work program set up under Mr. Jensen's guidance with respect to environmental assessment, permitting, and developing road access to the Bronson Slope property will continue.

The Company's board has decided that the best way to reward shareholders is to focus on exploration for a variety of geological targets including high-grade precious metal mineralization on its highly prospective properties surrounding the Snip Mine, now closed. During its operation, from 1991 to 1999, the Snip Mine produced 32.093 million grams of gold (1.03M ounces), 12.183 million grams of silver (392,000 ounces) and 249,276 kilograms of copper (548,000 pounds) from about 1.2 million tonnes. It is hoped that this new Company approach will meet with success and shareholders will be amply rewarded. The Company has started assembling an experienced exploration team at both the operational level as well as in the CEO's office. The Company has initiated the compilation of all historic data into a GIS database which will be critical to developing the path to successful exploration of the land package. Once the data is assembled, management will assess the inventory of anomalous targets and carry out a summer exploration program with the objective of having an active drill program late in the 2011 exploration season.

In order to assist in a smooth transition, Mr. Jensen has agreed to remain as a key member of the Company's Advisory Board. Mr. Jensen will assist the Company in the continued advancement of the Bronson Slope deposit. The Company wishes to express its appreciation for the work carried out under Mr. Jensen's direction and looks forward to his participation through the Advisory Board in facilitating continuity on Bronson Slope. The new exploration team will simultaneously focus on adding to shareholder value by expanding the Company's exploration program in the area.

David Yeager, P.Geo. the Company's consulting geologist who meets the requirements of a Qualified Person in accordance with N.I. 43-101, has reviewed the technical components of this news release.



Patrick Soares, P.Geo., Executive Director and C.E.O.

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 fulfill 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.

For further information contact Skyline Gold Corporation.

NR – 00013

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
    Patrick Soares, P.Geo.
    Executive Director and C.E.O.
    604 270 3878
    604 270 3858 (FAX)