Three Drills at Spanish
Mountain
February 4, 2008: Skygold Ventures Ltd. ("Skygold")
(SKV-TSXV) and Wildrose Resources Ltd. ("Wildrose") (WRS- TSXV) are pleased to announce the start up of the diamond drilling program at
Spanish Mountain project in central British Columbia. Three drills are
currently being utilized to continue to expand the Main Zone
mineralization. This aggressive winter drill program is part of a 2008
program that includes the completion of a 43-101 compliant resource by the end
of March and an expanded summer drill program.
The winter drill program is focused on expanding the
limits of the Main Zone mineralization. In particular, drilling will
focus on the northwest extension of the Main Zone where the last five holes of
the 2007 program intersected Main Zone stratigraphy with quartz veining and
visible gold mineralization (see news release dated January 15).
Scott Weekes, VP Exploration of Skygold stated:
"We are very pleased to be starting our first ever winter drill campaign
at Spanish Mountain. Results continue to come in from the 2007 program
and being able to get started in January assures a continuous flow of assay
results through 2008. Our drilling at the Main Zone has become more
focused and is based on the predictive model developed by our technical team. We
believe our aggressive approach to exploration is beginning to pay dividends
and will result in a number of mile stones for the company this year starting
with the first ever resource on the Main Zone in March."
Eco Tech Laboratories Ltd. of Kamloops BC, a BC
accredited laboratory, is conducting the sample preparation and analyses of
samples. Skygold/Wildrose are submitting standards, blanks and duplicates into
the sample stream to maintain quality control. All gold analyses will
utilize standard screen metallic assay techniques. Robert Darney, P.Geo.
and J.W. (Bill) Morton, P. Geo. are the qualified persons (as defined in NI
43-101) who have reviewed this news release.
On Behalf of the Board,
SKYGOLD VENTURES LTD
Brian Groves
Brian Groves.
President
Contact:
Tim
Mikula www.skygold.ca
(604) 484-6317
or
B&D Capital Partners
(604) 685-6465
The TSX Venture Exchange has not reviewed
and does not accept responsibility for the adequacy or accuracy of this
release. This news release may contain certain "Forward-Looking
Statements" within the meaning of Section 21E of the United States
Securities Exchange Act of 1934, as amended. All statements, other than
statements of historical fact, included herein are forward-looking statements
that involve various risks and uncertainties. Actual results and future events
could differ materially from those anticipated in such statements. Important
factors that could cause actual results to differ materially from the Company's
expectations are disclosed in the Company's documents filed from time to time
with the TSX Venture Exchange, the British Columbia Securities Commission and
the US Securities and Exchange Commission.