Sky Gold Discovers New Copper Target on the Evening Star Property, Nevada

VANCOUVER, BC / ACCESSWIRE / November 4, 2021 / Sky Gold Corp. (TSXV:SKYG)(OTC PINK:SRKZF) ("Sky Gold Corp." or the "Company") is pleased to announce the discovery of a new zone of surface copper mineralization on its Evening Star Property, located in Mineral County, Nevada.

Discovered through prospecting, geological mapping, rock and soil sampling, the new target known as the "High Life Zone" was sampled over an area approximately 200 by 400 meters. Fifteen (15) surface grab samples averaged 0.42 percent copper (% Cu), and 11.7 parts per million silver (Ag ppm). Peak values were 1.54 Cu % and 63.7 Ag ppm. The table below summarizes all rock samples received from the preliminary sampling.

The Evening Star property is prospective for CRD (Carbonate Replacement Deposit) base and precious (silver and gold) mineralization and has previously been explored for copper-gold porphyry mineralization. The property is located 12 kilometers southeast of the town of Hawthorne, north of, and contiguous to the Pamlico property, owned by Newrange Gold Corp.

The High Life Zone is located approximately 250 meters north of the Gold Bug mine workings. The copper mineralization appears as copper oxides (malachite, azurite, chrysocolla), associated with quartz veins, veinlets, limonitic microfractures and disseminated in a quartz monzonite porphyry host rock interpreted as Cretaceous in age. To date, no carbonate rocks have been observed. Outcrop exposure is limited due to widespread sandy, druzy, weathered granodiorite cover (windblown) but the grab rock samples are interpreted to reflect subcrop mineralization under relatively thin cover.

The Company has also completed a preliminary soil sampling survey over the same area that the rock samples were collected, comprised of 33 samples. The arithmetic average for the soil samples was 0.040 ppm Au, 1.8 ppm Ag, 479 ppm Cu, 77 ppb Pb, and 173 ppm Zn. The 90% percentile values (indicative as strongly anomalous) were 0.099 ppm Au, 7.6 ppm Ag, 1197 ppm Cu (0.12% Cu), 195 ppm Pb and 419 ppm Zn.

These soil results are interpreted as strongly anomalous for copper and silver and are supportive of the anomalous values obtained from the rock sampling program. The soil geochemistry is also anomalous for gold which was not reflected in the rock sample assays. In addition, some rock and soil samples are elevated in bismuth and arsenic which may indicate multiple phases of mineralization.

Following the receipt of pending assays from additional soil and rock sampling on the new copper area, the Company will also be making application with the Bureau of Land Management to complete an expanded drill program. To date, the Evening Star property has received permits for 1.46 acres of disturbance, under a Notice of Intent, which allows for to five acres of surface disturbance. EM Strategies, based in Reno, Nevada, will be contracted to assist with the new permit submittal.

Qualified Person

Sky Gold's disclosure of a technical or scientific nature in this news release has been reviewed and approved by Garry Clark, P.Geo., who serves as a qualified person under the definition of National Instrument 43-101.

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. The Company is active in Newfoundland on the Mustang and Virginia properties, which are located contiguous to New Found Gold Corp's Queensway project, where high-grade gold mineralization has been discovered, with the district being actively explored by numerous companies. The Company also owns the Evening Star property, located 12 km southeast of Hawthorne, NV, which is prospective for gold mineralization and CRD (Carbonate Replacement Deposit) base and precious (silver and gold) mineralization. The Company also owns the Imperial Project comprising two contiguous claim blocks (6,576 hectares) prospective for gold and VMS (volcanogenic massive sulphide) mineralization and covers 4.7 kilometres of the northern border with Amex Exploration's Perron property in Quebec, where high-grade gold has been intersected in three zones along a 3.2 km corridor.

ON BEHALF OF THE BOARD

"Mike England"

Mike England, CEO & Director

FOR FURTHER INFORMATION PLEASE CONTACT:

Tel. 1-604-683-3995
Toll Free. 1-888-845-4770

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: This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward -looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at WWW.SEDAR.COM).

SOURCE: Sky Gold Corp.