Skygold Receives Approval of Name Change to Spanish Mountain Gold Ltd

Suite 615 – 800 West Pender St. 

Vancouver, BC   V6C 2V6 

Tel (604) 604‐484‐6317 

Fax (604) 684‐0279 

January 14, 2010

Skygold Receives Approval of Name Change to Spanish Mountain Gold Ltd

Skygold Ventures Ltd. (“Skygold” or the “Company”) (SKV-TSXV) is pleased to announce that it has received approval from the TSX Venture Exchange for the change of company name to Spanish Mountain Gold Ltd.

In connection with the name change, the trading symbol for common shares of the Company will change to “SPA” effective January 14, 2010. Shareholders of the Company are not required to take any action pertaining to stock, option or warrant certificates issued by the Company.

The Company also announces that it will be re-locating to new offices during January, 2010. The new address and contact information, to become effective on January 25 will be:

SPANISH MOUNTAIN GOLD LTD Suite 920 1055 West Hastings St Vancouver, BC, V6E 2E9 Canada Phone : (604) 601 3650 Website: www.spmtngold.com On Behalf of the Board,

SPANISH MOUNTAIN GOLD LTD

Brian Groves

Brian Groves.

President

Contact:

Tim Mikula or B&D Capital Partners

(604) 484-6317 (604) 685-6465

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