Sky Gold Provides Update on Drill Program on the Evening Star Property, Nevada

VANCOUVER, November 1, 2021 - Sky Gold Corp. (TSXV:SKYG)(OTC PINK:SRKZF) ("Sky Gold Corp." or the "Company") is pleased to provide an update on diamond drilling activities on its Evening Star Property, located in Mineral County, Nevada.

The Company initiated a diamond drill program on the Evening Star property on July 27, 2021. One drill hole (ES-21-01) was completed to a depth of 256.3 meters (851 ft) at the Gold Bug target, where there are strong coincident geophysical (gravity and magnetic) anomalies (refer to press release March 17, 2021) interpreted to be related to silver-rich base-metal skarn and/or CRD mineralization. Assays are pending for hole ES-21-01. The drill program for Evening Star proposed 2,500 meters, designed in 12 to 15 holes with eight drill site areas permitted on the Gold Bug, Golden Eagle-Golden Bomber and Good Hope 2 targets. Regrettably, since August 23, 2021, drilling was suspended due to complications related to Covid-19.

Drilling has now resumed on the property at the Gold Bug target utilizing the same rig and drill contractor (Altar Drilling Inc. of Tucson, AZ). The Evening Star property is prospective for gold mineralization and CRD (Carbonate Replacement Deposit) base and precious (silver and gold) mineralization and is located 12 kilometers southeast of the town of Hawthorne. The property is north of, and contiguous to the Pamlico property, owned by Newrange Gold Corp.

Qualified Person

Sky Gold's disclosure of a technical or scientific nature in this news release has been reviewed and approved by Garry Clark, P.Geo., who serves as a qualified person under the definition of National Instrument 43-101.

About Sky Gold Corp.

Sky Gold Corp. is a junior mineral exploration company engaged in acquiring and advancing mineral properties in Canada and the USA. The Company is active in Newfoundland on the Mustang and Virginia properties, which are located contiguous to New Found Gold Corp.'s Queensway project, where high-grade gold mineralization has been discovered, with the district being actively explored by numerous companies. The Company also owns the Evening Star property, located 12 km southeast of Hawthorne, NV, which is prospective for gold mineralization and CRD (Carbonate Replacement Deposit) base and precious (silver and gold) mineralization. The Company also owns the Imperial Project comprising two contiguous claim blocks (6,576 hectares) prospective for gold and VMS (volcanogenic massive sulphide) mineralization and covers 4.7 kilometres of the northern border with Amex Exploration's Perron property in Quebec, where high-grade gold has been intersected in three zones along a 3.2 km corridor.

ON BEHALF OF THE BOARD

"Mike England"
Mike England, CEO & Director

FOR FURTHER INFORMATION PLEASE CONTACT:

Tel. 1-604-683-3995
Toll Free. 1-888-845-4770

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.

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.