Dec 11, 2007
VANCOUVER, BRITISH COLUMBIA - Skygold Ventures Ltd. ("Skygold" or the "Company") (TSX VENTURE:SKV) announced today that Brian Groves has agreed to join the management team as President and CEO and Director, starting January 7, 2008. Doug Fulcher will remain on the Board of Directors of Skygold.
Brian has worked in the Australian and Canadian mining and exploration industries for more than 29 years. A graduate of The University of Sydney, Australia, Brian began his career in exploration as a geophysicist in Australia. He has been involved in exploration for coal, gold, base metals and diamonds with junior, mid-tier and major companies such as AMAX Minerals, Noranda and Placer Dome where he served for 12 years ending as Manager of Corporate Development, Canada.
Mr. Fulcher commented: "The addition of Brian to the team is another significant step forward in the evolution of the Company and the Spanish Mountain project in central British Columbia. Brian's extensive experience will complement the technical team in advancing Spanish Mountain to demonstrate the full potential of this large and impressive gold deposit. Brian's addition coupled with the recent ownership consolidation of the Spanish Mountain deposit has now positioned Skygold to take full advantage of its assets and maximize shareholder value in the months to come."
Mr. Groves stated: "I look forward to working with the Skygold team, they have done an excellent job in discovering and rapidly advancing the Spanish Mountain project. I am both truly excited and honoured to join this team and to participate in the continuing development of the project. Spanish Mountain is only one of several prospective targets within the Company's portfolio."
The Board of Directors of Skygold have also agreed to grant 300,000 incentive stock options exercisable at a price of $1.25 for a period of 5 years. The forgoing is subject to regulatory approval.
Skygold is a Vancouver-based resource company with a 100% interest in the Spanish Mountain project as well as five other projects in the Cariboo gold belt of central British Columbia. The Spanish Mountain project is a large, advanced stage, sediment hosted, bulk tonnage gold deposit. Work is currently underway on a 43-101 compliant resource estimate which should be completed in the first quarter of 2008.
Skygold is also quickly advancing five early stage projects with the potential to host Spanish Mountain type mineralization. Drill programs are currently being planned for at least three of the projects in 2008.
On Behalf of the Board,
SKYGOLD VENTURES LTD.
Doug Fulcher, President and Chief Executive Officer
This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that Skygold Ventures Ltd. and/or Wildrose Resources Ltd. (the "Companies") expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. In this news release, predictions about the Plan of Arrangement being approved and finalized are forward-looking statements. Although the Companies believe the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include the conditions of the letter agreement not being satisfied. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. The Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
For more information, please contact
Skygold Ventures Ltd.
(604) 682-0307 (FAX)
B&D Capital Partners