SKY GOLD PROVIDES UPDATE ON FINANCING

Vancouver, British Columbia – July 5, 2024 – Sky Gold Corp. (TSX-V: SKYG) (US:SRKZF)("Sky Gold Corp." or the “Company”) announces that further to the previously announced non-brokered private placement (see PR’s dated May 24, 2024, June 5, 2024,June 19, 2024, June 26, 2024), the TSX Venture Exchange has granted the Company a 30 day extension to close this private placement.

The Company has closed 2 tranches of the private placement for gross proceeds of $366,400. In connection with the closing of the first and second tranches, the Company has issued 6,600,000 non-flow-through units (the “NFT Units”) at a price of $0.05 per unit and 520,000 flow-through units (the “FT Units”) at a price of $0.07 per Unit.

Each NFT Unit is comprised of one common share (a "Share") and one transferrable Share purchase warrant (a "Warrant") of the Company. Each Warrant will entitle the holder to purchase one Share (a “Warrant Share”) at a price of $0.07 per Warrant Share for a 36-month period after the Closing Date.

Each FT Unit is comprised of one common flow-through share (a "FT Share") and one transferrable non-flow-through share purchase warrant (a "NFT Warrant") of the Company. Each NFT Warrant will entitle the holder to purchase one additional non-flow-through share  at a price of $0.10 per share for a 24-month period after the Closing Date.

All securities issued are subject to a statutory hold period of 4 months plus one day from the date of issuance in accordance with applicable securities legislation.

The financing, although conditionally approved by the TSX Venture Exchange (TSXV), is subject to final approval.

About Sky Gold Corp.

Sky Gold Corp. is a junior mineral exploration company engaged in acquiring and advancing mineral properties in Canada and the USA.

ON BEHALF OF THE BOARD
“Mike England”
Mike England, CEO & Director

FOR FURTHER INFORMATION PLEASE CONTACT: 

Telephone: 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.