Sky Gold Closes Financing

VANCOUVER, December 23, 2019 - Sky Gold Corp. ("Sky" or the "Company") (TSXV:SKYG) is pleased to announce that further to its press release dated December 6^th, 2019 the Company has closed the over subscribed non-brokered private placement. The total raised in the financing issuing 10,900,000 units (the "Units") at a price of $0.05 per Unit for aggregate gross proceeds of $545,000.00.

Each Unit is comprised of one common share (a "Share") and one transferable Share purchase warrant (a "Warrant") of the Company. Each Warrant will entitle the holder to purchase one Share (a "Warrant Share") at a price of $0.10 per Warrant Share for a 24 month period after the Closing Date.

Finders' fees of $24,400.00 and 596,000 finder's warrants were paid to arm's length parties. Finder's warrants entitle the Finder to purchase one common share in the Company at a price of $0.10 for a period of 24 months from the date of closing.

The shares and warrants comprising the units are subject to a 4 month hold period expiring April 24^th, 2020.

Proceeds raised from the Offering will be used for general working capital and to further the Company's Evening Star property in Nevada.

Sky Gold is focused on its Evening Star Property, located 16 kilometers southeast of Hawthorne, Nevada and will also actively be seeking other mining exploration opportunities for the benefit of its shareholders.

ON BEHALF OF THE BOARD

"Mike England"
Mike England, CEO, PRESIDENT & DIRECTOR

FOR FURTHER INFORMATION PLEASE CONTACT:

Telephone: 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.