VANCOUVER, BC / ACCESS Newswire / October 8, 2025 / SKY GOLD CORP. ("Sky" or the "Company") (TSXV:SKYG)(OTC PINK:SRKZF) announces a non-brokered private placement of up to 20 million units ("Units") at a price of $0.05 per Unit for aggregate gross proceeds of up to one million dollars (the "Offering"). Each Unit will be comprised of one common share ("Share") and one transferable Share purchase warrant of the Company ("Warrant"). Each Warrant will entitle the Subscriber to purchase one Warrant Share for a 36-month period after the Closing Date at an exercise price of $0.08 per share. Proceeds of the private placement will be used towards geophysics and drilling at the Tower Gold and High Life targets, both located in the Company's Evening Star property in Nevada as well as general and administrative purposes. Finder's fees will be paid pursuant to this financing. The private placement is subject to approval by the TSX Venture Exchange.
Tower Gold is a one-kilometer gold vein trend hosted in granitic rocks. High Life is a buried copper-gold porphyry target that has multiple lines of evidence, including geological, geochemical and geophysical data that vector to a potentially significant system. These targets have never been drilled before. Tower Gold is drill ready with drilling expected to commence in the coming weeks.
The geophysical programs will be a property wide, drone-supported, magnetic survey and a deep Induced Polarization (IP) to cover the High Life target area.
Qualified person
Sky Gold Corp.'s disclosure of a technical or scientific nature in this news release has been reviewed and approved by Danae Voormeij, P.Geo., who serves as a qualified person under the definition of National Instrument 43-101.
ON BEHALF OF THE BOARD
Mike England
CEO, PRESIDENT & DIRECTOR
FOR FURTHER INFORMATION PLEASE CONTACT
Tel: 1-604-683-3995
Toll Free: 1-888-945-4770
Neither the 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.
Forward Looking Statements
Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding the matters described herein. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance, or developments to differ materially from those contained in the statements, including with respect to the completion of the Consolidation or the identification or acquisition of additional mineral assets. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, including factors beyond the Company's control. These forward-looking statements are made as of the date of this news release.
SOURCE: Sky Gold Corp.
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/metals-and-mining/sky-gold-announces-private-placement-in-preparation-for-drilling-on-the-tower-gol-1084833