Sky Gold Corp. announced the acquisition of the Star Lake nickel-copper-cobalt-chrome-platinum group element property (the "Property"), situated approximately 60 kilometres west of the City of
Thunder Bay, in northwestern Ontario. The Property is well located proximal to infrastructure, five (5) km southwest of the past-producing Shebandowan Ni-Cu-Co-Cr-PGE mine, operated by Inco Ltd., during the
period of 1970 to 1998. The Shebandowan mine is a world-class example of a primary magmatic Ni-Cu-Co-Cr-PGE deposit, with produced tonnage and grade of 8.7 million tonnes at 2.0% nickel, 1.0% copper
and 3.0 g/t platinum-group-elements (cobalt and chrome grades are unknown). Star Lake Ni-Cu-Co-Cr-PGE Property: Consistent with the Company's strategy of acquiring high-quality strategic, battery-metal properties,
proximal to world-class assets, the large Property comprises 333 unpatented claims totaling 5,894 hectares, situated in Begin, Laurie and Duckworth townships in the Thunder Bay Mines and Minerals
Division. The Property can be explored 12 months a year and also has exploration permits in place, enabling exploration to commence immediately. Agreement Terms: To acquire a 100% interest in the Property, the Company will issue 1,250,000 shares, pay $225,000 in cash to the vendors and incur exploration expenditures of $1,000,000 over a 4-year period. The Company will additionally grant a 2.0% Royalty to the vendors. Advance Royalty payments of $20,000 are due annually to the vendors between years 5 and 10 of this Agreement. 0.50% of the Royalty can be bought back from the vendors before the 5th anniversary date for the sum of $500,000. The remaining 1.5% of the Royalty can be purchased from the vendors before the 10th anniversary of this Agreement, for the sum of $2,500,000. This transaction is subject to TSX Venture approval.