Sky Gold Set to Commence Spring Exploration Program on Orogenic Gold and Magmatic Nickel Sulphide Targets on Its Consolidated Shebandowan Property, Northwestern Ontario

Highlights:

• Exceptional exploration opportunity for orogenic Au and magmatic Ni-Cu-Co-Cr-PGE discoveries
• Mingold Au soil anomaly (2 km by 2 km) is a high-priority orogenic gold target
• Large Ni-Cu-Co-Cr-PGE anomaly (5 km by 7 km) highly prospective for Ni-sulphide deposits
• Integrated spring exploration program to commence shortly at Consolidated Shebandowan
• Updated corporate presentation now available at www.skygoldcorp.com

VANCOUVER, BC / ACCESSWIRE / May 7, 2024 / SKY GOLD CORP. ("Sky' or the "Company") (TSXV:SKYG)(OTC PINK:SRSZF) is pleased to announce that it will shortly commence exploration on its Consolidated Shebandowan nickel-copper-cobalt-chrome-platinum group element-gold property (the "Property"), located in northwestern Ontario. The exploration program involving detailed geochemical sampling, geological mapping and prospecting, will focus on 2 high-quality exploration targets known as the Mingold Au Soil Anomaly (orogenic gold target) and a strong, extensive Ni-Cu-Co-Cr-PGE Anomaly (magmatic nickel-sulphide target).

Mackenzie (Mac) Watson, Technical Advisor to Sky Gold Corp. commented: "This is one of the best greenfield exploration projects that I have been associated with. The potential for discovery for both nickel and gold are high, particularly when viewed within the favorable structural and lithologic setting."

The Property, comprising 5,894 hectares, is situated 70 km west of the City of Thunder Bay and 6 km southwest of the past-producing Shebandowan Ni-Cu-Co-Cr-PGE mine, operated by Inco Ltd during the period of 1970 to 1989. The Shebandowan mine is a world-class example of a primary magmatic nickel sulphide deposit with production tonnage and grade of 8.7 MT at 2.0% nickel, 1.0% copper & 3.0 g/t platinum + palladium (cobalt & chrome grades are unknown).

Mingold Au Soil Anomaly:

The primary gold target on the Property comprises a 2 km by 2 km gold-in-soil anomaly, defined by Mingold, a previous explorer in the Shebandowan area in 1990. Heavy mineral concentrates obtained from widely-spaced sampling returned values of up to 5,250, 1,580, 1,370 & 1,050 ppb gold, with some samples yielding pristine and delicate gold grains, suggesting a local bedrock source for the gold.

The gold anomaly is contained within a regional-scale, 7-kilometre-long multi-element anomaly containing arsenic, antimony, zinc as well as nickel, copper, cobalt, chrome and platinum-group-elements obtained in regional-scale glacial till and lake sediment sampling.

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