Sky Gold Closes First Tranche Of Financing

Sky Gold Closes First Tranche Of

Financing

Vancouver, British Columbia – June 19 , 202 4 – Sky Gold Corp. (TSX -V:

SKYG) (US:SRKZF) ("Sky Gold Corp." or the “Company”) is pleased to

announce that the Company has closed the first tranche of the previously announced

non-brokered private placement (see PR dated May 24, 2024 and June 5, 2024 ) for

gross proceeds of $330,000. In connection with completion of the first tranche, the

Company has issued 6,600,000 non-flow through units (the “NFT Units”) at a price of

$0.05 per Unit.

Each NFT Unit is comprised of one common share (a "Share") and one transferrable

Share purchase warrant (a "Warrant") of the Company. Each Warrant will entitle the

holder to purchase one Share (a “Warrant Share”) at a price of $0. 07 per Warrant

Share for a 36-month period after the Closing Date.

In connection with completion of the first tranche of the non -brokered private

placement, the Company paid total finders’ fees of $22,000 and issued 440,000 non-

transferable Share purchase warrants to Canaccord Genuity Corp. and Sherbrooke

Street Capital (SSC) Inc. Each non -transferable Share purchase warrant will entitle

the holder to purchase one Share (a “Warrant Share”) at a price of $0.07 per Warrant

Share for a 12-month period from the closing date.

A senior officer and a director of the Corporation have subscribed for an aggregate of

700,000 Units as part of the Private Placement, which participation constitutes a

"related party transaction" within the meaning of Multilateral Instrument 61 -101 -

Protection of Minority Security Holders in Special Transactions ("MI 61 -101") and

Policy 5.9 of the TSXV. The Corporation is relying on the exemption for a formal

valuation under section 5.5(b) of MI 61 -101 (trading on the TSXV), and on the

exemption for mino rity shareholder approval under section 5.7(1)(b) of MI 61 -101

(fair market value of less than $2,500,000).

All securities issued are subject to a statutory hold period expiring on October 20,

2024.

The financing, although conditionally approved by the TSX Venture Exchange

(TSXV), is subject to final approval.

Proceeds raised from the Offering will be used towards exploration activities on the

Company’s portfolio of mining projects as well as general and administrative

purposes.

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.

ON BEHALF OF THE BOARD

“Mike England”

Mike England, CEO & Director

FOR FURTHER INFORMATION PLEASE CONTACT:

Telephone: 1-604-683-3995

Toll-Free: 1-888-945-4770

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.