Drilling Resumes At The Mustang Project

VANCOUVER - Sky Gold Corp. reported that the diamond drill program has resumed on the Company's Mustang Property contiguous to the Queensway Gold Project owned by New Found Gold Corp. Previously seven holes were completed on the Mustang Property, comprising 1,321 meters, with assays pending.

Hole MT-20-06 contained fine grained visible gold at ~260 meters down the hole. This interval and other selected intervals (quartz veining, brecciation and silicification, and quartz stockwork, with associated sulphides (pyrite, arsenopyrite, sphalerite)) from Hole MT-20-06 and MT-20-07 have been split and sampled and have been "rushed" for gold assaying at Eastern Analytical Ltd., in Springdale, Newfoundland, an ISO 17025 certified laboratory. Logging, core cutting and sampling is ongoing from a facility established in Gander.

Drilling on the Mustang property has been contracted to Cabo Drilling (Pacific) Corp. with a minimum 3,000-meter diamond drill program over multiple target locations situated within the highly prospective Gander gold district. Drilling in 1st quarter 2021 will also investigate the Barite, Jasperoid and Road Breccia showings on the western portion of the Mustang property, which have never been drilled. Recently completed trenching and soil geochemistry results are also pending.

President and CEO Mike England, commented "The Company is excited to resume drilling activities on the Mustang property. We welcome the surface rock and soil geochemistry results shortly and "rushed" assay results from sections of hole MT-20-06 and 07."