Skyline Gold Corporation: Completes Inel Property Acquisition
08.02.2012 | Marketwire
VANCOUVER, 02/08/12 - Skyline Gold Corporation (TSX VENTURE: SK) ('Skyline' or the 'Company') is pleased to announce, further to the news release dated November 19, 2010, that it has completed the acquisition of the Inel property (the 'Property' or 'Inel') from St. Andrew Goldfields Ltd. in return for an amended final cash payment of $175,750 and 1,000,000 common shares valued at $0.175 per share.The Inel property is contiguous with the Company's existing property and will increase the total tenure holdings to just over 25,000 hectares. The entire land position map is attached to this news release and is available for viewing on the Company website (www.skylinegold.com).
The Inel property adds 8,775 hectares of mineral tenure holdings which historic exploration has shown to have significant exploration potential with numerous gold, silver, and base metal occurrences.
John Zbeetnoff, CEO of Skyline, commented, 'I am pleased to conclude this acquisition and add the Inel property to our land holdings. The compilation and interpretation of this property's historical exploration data will proceed as we explore the five priority targets already identified that are the primary focus of our 2012 exploration program. Our exploration group is advancing 2012 exploration plans, details of which will be released over the next several weeks.'
On Behalf of the Board of Directors, Skyline Gold Corporation
John Zbeetnoff
Chief Executive Officer
Cautionary Note Regarding Forward-Looking Statements: This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
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.
Contacts:
Skyline Gold Corporation
John Zbeetnoff, CEO
604-681-3989
Skyline Gold Corporation
Tony Perri, Investor Relations, Manager
604-681-3989
604-681-3557 (FAX)
info@skylinegold.com
www.skylinegold.com