Sky Intersects 5 Metres of 8.57 g/t Gold and 2 Metres of 475.6 g/t Silver; Diamond Drilling at Clone Gold Project Completed

Published

VANCOUVER, BC / ACCESSWIRE / September 26, 2019 / Sky Gold Corp. (TSXV:SKYG)(US:SRKZF) ("Sky Gold Corp." or the "Company") is reporting all results from the 2019 diamond drill program on the Clone Gold Property. The program was comprised of 811 meters drilled in six HQ-diameter diamond drill holes. Highlights of the latest assays include 5 meters of 8.57 Au and 2 meters of 475.6 Ag at shallow depths in drill hole SCL-19-03. As previously reported (news release dated September 3, 2019), hole SCL-19-02 returned a highlight intercept of 124.6 grams per tonne of gold (g/t Au) over a drill interval of 4.1 meters from a depth of 5.0 metres on the Main "H" Zone.

Main H Zone: Four holes were completed on the Main H zone target comprising 522.0 m.

Previously released significant results from the first two holes include:

Hole No.

From (m)

To (m)

Interval (m)**

Au g/t

Ag g/t

SCL-19-01

67.5

68.4

0.9

85.2

14.2

or

67.5

70.5

3.0

25.78

4.6

and

97.0

105.0

8.0

1.20

1.8

and

120.5

122.9

2.4

2.10

0.6

SCL-19-02

5.0

9.1

4.1

124.6

5.6

and

9.1

12.0

2.9

1.06

0.8

**The intervals reported in these tables represent drill intercepts and insufficient data are available at this time to state the true thickness of the mineralized intervals. All gold values are uncut.

Recently received results from the last two holes on the Main H Zone target include:

**The intervals reported in these tables represent drill intercepts and insufficient data are available at this time to state the true thickness of the mineralized intervals. All gold values are uncut.

Drill holes SC-19-03 and SC-19-04 extend mineralization at the Main H Zone 45 metres vertically from historic drilling and up to 25 metres to the northwest from historic hole CL-96-15. Mineralization in all drill holes is associated with strong hematite alteration, also reflected in high iron values (up to 24.0% iron) in the high gold intervals. All core intervals returning over 5 g/t Au and/or if visible gold is observed were subject to a procedure of screen metallic assaying. The high Ag values (475.60 g/t Ag over 2.0 metres) returned in Hole SCL19-03 at 21.0 meters represents a new style of mineralization on the Clone property for which further investigation is warranted.

Gossan Zone - located approximately 1.3 kilometres west of the Main H zone, where rock grab sample geochemistry has returned strong gold values of up to 37 g/t Au (sampling 1996, ARIS 23878). The mineralization at the Gossan zone is very similar to that of the Main H zone. One drill hole was drilled at the Gossan Zone, hole SCL 19-05, which was 149 metres in length. No significant Au, Ag or Cu values were returned.

Port 19 and Treble zones - located approximately 4.4 kilometres west-northwest of the Main H Zone, this target was prospected and geologically mapped in summer 2018 with significant results obtained in both soil and rock grab sampling. There has been considerable glacial abatement over the showing since the 1990s. Historical soil sampling results include five samples with greater than one g/t Au (8.33 g/t, 6.68 g/t, 3.7 g/t, 1.66 g/t, 1.61 g/t). The over 200 ppb Au soil anomaly over the Port 19 and Treble showings is 2.5 times the size of the Main H Zone soil anomaly. One drill hole, Hole SCL 19-06 (140 metres length) was drilled in the Treble Zone and returned no significant Au, Ag or Cu values.

"Although further desktop review targeting work will be required in order to explain the anomalous regions at the Gossan, Port 19 and Treble Zones at Clone, the results from the Main "H" Zone are encouraging and supportive of multiple zones of high-grade gold mineralization. Our technical team will continue their compilation and interpretation work, with results directed towards plans for a summer exploration 2020 program. With activities in the Golden Triangle closing for the field season, the Company exploration activities will be directed to the Evening Star Project in Nevada, which can be explored on a year-round basis." states Mike England, CEO of Sky Gold Corp.

QA/QC Procedures

All drill core was logged, photographed, cut and sampled by Ridgeline personnel, on behalf of the Company. Prior to shipment to ALS Global's sample preparation facility in Terrace, BC, certified reference material standards, blanks, and core duplicates were inserted at a ratio of approximately 1 in every 10 drill core samples. Samples were prepared in Terrace, B.C. by crushing the entire sample to 70% passing -2mm, riffle splitting off 1kg and pulverizing the split to better than 85% passing 75 microns. After preparation in Terrace, the prepared pulps were shipped to ALS Global's analytical laboratory in North Vancouver, BC. The gold assays were determined by Au-AA23 fire assay method which reports results in parts per million (ppm) (equivalent to grams per tonne (g/t)), Gold samples assaying over 5 g/t Au were analyzed using Au-GRA21 (Fire Assay with Gravimetric finish). Base metal assays were first determined using the ME-MS41 method (Aqua digestion with ICP-MS finish), which reports results as ppm. All analyses that reach the over limits of ME-MS41 were reanalyzed with an Ore Grade method. The analytical results are verified with the application of industry standard Quality Control and Quality Assurance (QA-QC) procedures.

About the Clone Project

The Clone Property is located situated approximately 20 kilometres southeast of Stewart, and 15 kilometres south of Ascot Resources', advanced Red Mountain Project, in the southern portion of the Golden Triangle. Years of receding snowpack, known as ablation, has revealed many new targets never exposed to previous operators.

Diamond drill services were supplied by More Core Drilling Services Ltd., and pad building and logistics were completed by Minconsult Exploration Services Inc. Ridgeline Exploration Services Inc. of Kelowna, B.C., supplied geological supervision and project management.

About the Evening Star Project, Nevada

The Evening Star property is located 12 kilometres southeast of Hawthorne, NV, and approximately 3.2 km northeast of Newrange Gold Corp.'s Pamlico property. Targets include structurally controlled gold and copper mineralization in intrusive rocks, carbonate replacement Ag, Pb, Zn, and Cu; and carbonate replacement Au mineralization that may represent extensions of the historic La Panta Mine. A total of 655 m of diamond drilling has been completed by the Company on the property, and surface sampling by the Company (see news release dated January 16, 2018) of a new target, that has never been drilled, known as the Golden Highlands zone, returned values up to 25.9 g/t Au, up to 318 g/t Ag, and up to 6.14 % Cu over an area of approximately 300 by 200 metres. The property is permitted and ready for further drilling to commence.

Qualified Person

Catherine Fitzgerald, M.Sc., P.Geo., a Qualified Person under National Instrument 43-101, is the Qualified Person responsible for reviewing and approving the technical contents of this news release as they pertain to the Clone property.

About Sky Gold Corp.

Sky Gold Corp. is a junior mineral exploration company engaged in acquiring and advancing mineral properties across Canada's top mining jurisdictions. The Company's flagship asset is the Clone high-grade gold project located in B.C's Golden Triangle.

ON BEHALF OF THE BOARD

"Mike England"

Mike England, CEO & DIRECTOR

FOR FURTHER INFORMATION PLEASE CONTACT:

Telephone: 1-604-683-3995Toll Free: 1-888-945-770

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.

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