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Skygold Ventures Ltd. (the "Company") (TSX VENTURE:SKV) is pleased to announce that it has issued 360,000 share purchase warrants at a price of $0.12 per warrant for proceeds of $43,200, pursuant to the partial exercise by National Bank Financial Inc. of an over-allotment option granted to cover over-allotments under the terms of the Company's recently completed public offering of units and flow-through shares (see press release of July 31, 2008). Each warrant is exercisable at a price of $0.70 until July 31, 2010.

The Company intends to use the proceeds towards further exploration and analysis of its Spanish Mountain Property and SHG properties, both of which are located in British Columbia, and for working capital and general corporate purposes.

All dollar amounts in this news release refer to Canadian funds.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the U.S. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended ("the U.S. Securities Act"), or any state securities laws and may not be offered, sold or delivered within the United States except in transactions exempt from the registration requirements of the U.S. Securities Act and applicable state securities laws.

Skygold Ventures Ltd.

Skygold is a Vancouver-based mineral resource exploration and development company with a 100% interest in the Spanish Mountain Project located in the Cariboo Mining District, and is working towards a 100% interest in 316 mineral claims (collectively called the "SHG Properties") also in the Cariboo Mining District. On July 9, 2008 Skygold announced the closing of the acquisition of its Spanish Mountain joint venture partner (30%), Wildrose Resources Ltd., resulting in Skygold now controlling 100% of the Spanish Mountain Project.

On behalf of the Board of Directors,

Brian Groves, President and CEO

SKYGOLD VENTURES LTD.

Forward Looking Information

This news release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that Skygold Ventures Ltd. (the "Company") expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. In this news release statements regarding the intended use of proceeds from the Offering are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include the analysis of new exploration data or the risks inherent in mineral exploration and development, which may result in a redistribution of the proceeds of the Offering among exploration projects or to new exploration projects. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the company's management on the date the statements are made. Except as required under applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

For more information, please contact
Skygold Ventures Ltd.
Tim Mikula
(604) 484-6317
(604) 684-0279 (FAX)
Website: www.skygold.ca

or

B&D Capital Partners
Brad Aelicks
(604) 685-6465
© 2021 Spanish Mountain Gold Ltd.
All rights reserved.
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