Skygold Drilling Intersects High-grade Gold Mineralization in Step-out Hole

1.50m of 96.20 g/t gold intersected 300m west of the Main Zone and
58.5m of 1.13 g/t gold intersected 120m west of the Main Zone

Skygold Ventures Ltd. ("Skygold") (SKV-TSXV) and Wildrose Resources Ltd. ("Wildrose") (WRS- TSXV) are pleased to announce results from the on-going diamond drilling program at the Spanish Mountain Project in Central British Columbia.

Results from drill holes completed to date have confirmed gold mineralization well outside of the area of the initial NI 43-101 compliant resource estimate (disclosed in a News Release dated April 3, 2008). The on-going drilling program is designed to expand the area of gold mineralization identified within a portion of the Main Zone. This portion of the Main Zone is the area of the initial resource estimate which was calculated to contain a measured and indicated resource using a 0.50 g/t cut off grade of 67,060,000 tonnes averaging 0.811 g/t gold (1.75 million ounces of gold). The Main Zone remains open in all directions and drilling in 2008 has focused on expanding the zone to the west and northwest. Several holes in this area have intersected wide zones of gold mineralization within areas where visible gold was identified in drill core.

Highlights:

Discussion of Results:
(Please see the attached plan map showing drill hole locations. The map is also available on Skygold's website). Holes 699, 690, 692, 695 and 702 all intersected the Main Zone stratigraphy and have all intersected significant gold mineralization. Hole 702 intersected high grade gold mineralization of 96.2 g/t gold over 1.5 metres.  This intercept is approximately 300 metres west of the area of the initial resource. Hole 699, drilled in the northern part of the Main Zone, remains open to the west and south. Hole 699 is the highest grade and widest intercept returned from diamond drilling in the northern part of the Main Zone.  In addition to these holes, several step out holes were drilled late in 2007 to test for gold mineralization west of the Main Zone, some of these holes intersected visible gold including Hole 07-DDH-689 which intersected 7.75 metres of 5.5 g/t gold including 0.75 metres of 39.0 g/t gold.  Hole 695 is approximately 450 metres west of the resource area and has intersected 13.50m of 1.21 g/t gold, this intercept is on a steeper section of the Main Zone stratigraphy and remains open in all directions.

Scott Weekes, Vice President of Exploration for Skygold commented, "We have now drilled two of our best holes in the northern part of the Main Zone and to the west of the Main Zone and both are located well outside of the resource area.  In 2008 we are continuing with our aggressive drill program and are working to refine the geological model for the Main Zone and expand upon the resource. Step out hole 695 has clearly shown the potential for the Main Zone to expand significantly beyond what we currently know as the limits of gold mineralization".
Complete table of results follow:

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.

Skygold Ventures
Suite 615 - 800 West Pender St.
Vancouver , B.C. V6C 2V6
tel. (604)484.6317
Fax (604) 684-0279
www.skygold.ca

For more information contact B&D Capital Partners 604.685.6465