Diamond Drilling Underway on The Main "H" Zone at The Clone Gold Project, Golden Triangle, B.C.

First Two Holes Completed: Drilling Continues

VANCOUVER, August 7, 2019 - Sky Gold Corp. (TSX-V:SKYG)(US:SRKZF)("Sky Gold Corp." or the “Company”) is pleased to announce that its summer diamond drill program has commenced on the Clone Gold Property, located in the prolific Golden Triangle of British Columbia. The first two holes have now been completed and will be sent to the lab on a rush basis. To view ongoing developments on the project please visit our website for photos.

Drilling began on the Main “H” Zone to test mineralization projections and extensions along strike and down-dip, and plunge. Drill pad construction has also been completed on the Gossan Zone and Port 19 targets, with construction currently taking place on the Treble Zone.

The Gossan and Treble zones have never been drilled and significant glacier ablation has resulted in the identification of new mineralization showings and important structural features that aid the layout of the proposed drill holes.

• The Gossan Zone - located approximately1.3 km west of the Main “H” Zone, is a high priority target zone where rock grab sample geochemistry has returned strong gold values: 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.
• Port 19 and Treble Zones - located approximately 4.4 km west-north-west 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 1990’s. Historical soil sampling results include five samples with greater than 1 g/t Au (8.33 g/t, 6.68 g/t, 3.7 g/t, 1.66 g/t, 1.61 g/t). The +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.

“With gold hitting new highs in Canadian dollars our timing for undertaking drilling at the high grade Clone Gold Project could not be better in terms of generating interest and excitement over the prospects here.” stated Mike England, CEO of Sky Gold.

About the Clone Project

The Clone Property is situated approximately 20 kilometres southeast of Stewart, British Columbia, and 15 kilometres south of the advanced Red Mountain Project, owned by Ascot Resources Ltd., located in the southern portion of the Golden Triangle. The Clone Property has previously (1995 -1997; Teuton Resources Corp. and Minvita Enterprise Ltd., financed by a major, Homestake Mining Corp., and Murray Pezim's flagship company, Prime Resources Corp.) returned high-grade diamond drill intercepts from multiple mineralized zones. Years of receding snowpack, known as ablation, has revealed many new targets.

Diamond drill services for this program are supplied by More Core Drilling Services Ltd., and pad building and logistics are conducted by Minconsult Exploration Services Inc. Ridgeline Exploration Services Inc. of Kelowna, B.C., supplies geological supervision and project management. Drill target selection is aided by a successful 2018 field program, a 2018 high resolution magnetics airborne survey, and a comprehensive compilation of all historic data with supportive 3D modeling

“The Company is very pleased with the progress on the Clone Project, and the start of drilling is a significant milestone for the Company and the project”, reports Mike England, CEO of Sky Gold Corp. “Despite inclement and challenging weather conditions, our seasoned team of contractors have successfully kicked off the 2019 program, and we are poised to build on discoveries made by our field crews in 2018.”

Qualified Person

Catherine Fitzgerald, 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: 1-604-683-3995
Toll 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.