News Releases

VANCOUVER, BRITISH COLUMBIA - Skygold Ventures Ltd. ("Skygold" or the "Company") (TSX VENTURE:SKV) is pleased to announce it is undertaking a private placement of up to 13,000,000 common share units (the "Units") at a price of $0.17 per Unit for gross proceeds of up to $2,210,000. Closing is expected to occur on or about September 28, 2009.

Each Unit will consist of one common share and one share purchase warrant (a "Warrant") of the Company. Each Warrant will entitle the holder to purchase one common share for a period of three years from closing at a price of $0.23 per share.

The proceeds received from the sale of the Units will be used to fund programs on the Company's Spanish Mountain and Spanish Creek properties and for general working capital. A finders' fee equal to 5.0% of the gross proceeds on a portion of the private placement will be payable in kind by the issuance of Units. All of the securities issued in connection with the private placement will be subject to a four month hold period. The private placement is subject to the acceptance of the TSX Venture Exchange.

About Skygold

Skygold is an exploration company focused on advancing its flagship Spanish Mountain gold project in central southern British Columbia. The Company is well funded with a current cash position of $2.2 million and has applied for Mineral Exploration Tax Credit refund from the Province of British Columbia totaling $1.9 million. These funds are expected to be received in 2009. For more information, please visit

On Behalf of the Board,


Brian Groves, President

The securities offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or any applicable exemption from the registration requirement of such Act. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

This news release contains forward-looking information, which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectation. Important factors - including the availability of funds, the results of financing and exploration activities, the interpretation of drilling results and other geological data, risks associated with the estimation of mineral resources and the geology, grade and continuity of mineral deposits, project cost overruns or unanticipated costs and expenses -- 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 on SEDAR (see Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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.

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


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

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