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VANCOUVER, BRITISH COLUMBIA - Skygold Ventures Ltd. ("Skygold") (TSX VENTURE:SKV) and Wildrose Resources Ltd. ("Wildrose") (TSX VENTURE:WRS) are pleased to announce the start up of the diamond drilling program at Spanish Mountain project in central British Columbia. Three drills are currently being utilized to continue to expand the Main Zone mineralization. This aggressive winter drill program is part of a 2008 program that includes the completion of a 43-101 compliant resource by the end of March and an expanded summer drill program.

The winter drill program is focused on expanding the limits of the Main Zone mineralization. In particular, drilling will focus on the northwest extension of the Main Zone where the last five holes of the 2007 program intersected Main Zone stratigraphy with quartz veining and visible gold mineralization (see news release dated January 15).

Scott Weekes, VP Exploration of Skygold, stated: "We are very pleased to be starting our first ever winter drill campaign at Spanish Mountain. Results continue to come in from the 2007 program and being able to get started in January assures a continuous flow of assay results through 2008. Our drilling at the Main Zone has become more focused and is based on the predictive model developed by our technical team. We believe our aggressive approach to exploration is beginning to pay dividends and will result in a number of mile stones for the company this year starting with the first ever resource on the Main Zone in March."

Eco Tech Laboratories Ltd. of Kamloops BC, a BC accredited laboratory, is conducting the sample preparation and analyses of samples. Skygold/Wildrose are submitting standards, blanks and duplicates into the sample stream to maintain quality control. All gold analyses will utilize standard screen metallic assay techniques. Robert Darney, P.Geo. and J.W. (Bill) Morton, P. Geo. are the qualified persons (as defined in NI 43-101) who have reviewed this news release.

On Behalf of the Board,

SKYGOLD VENTURES LTD.

Brian Groves, President

This news release may contain certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. Actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the TSX Venture Exchange, the British Columbia Securities Commission and the US Securities and Exchange Commission.

The TSX Venture Exchange has not reviewed and 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
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