Sky Gold Corp Cancels Financing

Rhea-AI Summary

Sky Gold Corp (TSX.V:SKYG)(OTC PINK:SRKZF) has announced the cancellation of its previously announced 4 cent private placement. The company plans to reassess financing options in the New Year, as CEO Mike England believes the junior resource sector is improving.

The company continues to evaluate programs at both the Evening Star copper porphyry and gold targets and the Shebandowan nickel-copper-cobalt-chrome-platinum group element-gold property in northwestern Ontario. Assay results are currently pending from two programs completed at the Shebandowan project.

Positive

• Company has drill-permitted targets at Evening Star project
• Pending assay results from two completed programs at Shebandowan project

Negative

• Cancellation of previously announced 4 cent private placement financing
• Delay in securing necessary funding for operations

VANCOUVER, BC / ACCESSWIRE / December 10, 2024 / SKY GOLD CORP. ("Sky Gold" or the "Company") (TSX.V:SKYG)(OTC PINK:SRKZF) announces it will not be proceeding with the 4 cent private placement previously announced (see PR November 1, 2024). The Company will continue to assess and formulate programs on both the Evening Star copper porphyry and gold targets as well as the Shebandowan nickel-copper-cobalt-chrome-platinum group element-gold property, located in northwestern Ontario.

Assays are pending on the Shebandowan project.

"We feel the tide is turning for the junior resource sector and will look to finance in the New Year. Our drill permitted targets at Evening Star are not going anywhere and, in the meantime, we await batches of assays from 2 programs completed at our prospective Shebandowan project in Ontario." stated Mike England, CEO of Sky Gold.

For more information on the Evening Star gold and copper project in Nevada and the Shebandowan nickel-copper-cobalt-platinum group element (Ni-Cu-Co-PGE) project in Northwestern Ontario please visit our website at www.skygoldcorp.com.

ON BEHALF OF THE BOARD
Mike England
CEO, PRESIDENT & DIRECTOR

FOR FURTHER INFORMATION PLEASE CONTACT
Tel: 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.

SOURCE: Sky Gold Corp.

View the original press release on accesswire.com

FAQ

Why did Sky Gold Corp (SRKZF) cancel its private placement financing?

Sky Gold Corp decided not to proceed with the 4 cent private placement, choosing to wait for better market conditions in the New Year as they believe the junior resource sector is improving.

What projects is Sky Gold Corp (SRKZF) currently developing?

Sky Gold Corp is developing the Evening Star copper porphyry and gold targets, as well as the Shebandowan nickel-copper-cobalt-chrome-platinum group element-gold property in northwestern Ontario.

What are the pending developments for Sky Gold Corp (SRKZF)?

The company is awaiting assay results from two programs completed at the Shebandowan project and plans to seek new financing opportunities in the New Year.