Skygold Ventures Ltd. (“Skygold”) (SKV-TSXV) and Wildrose Resources Ltd. (“Wildrose”) (WRS- TSXV) are pleased to announce that their respective shareholders have approved the plan of arrangement at meetings held in Vancouver, B.C. on June 13, 2008 (see News Releases dated December 5, 2007 and March 7, 2008 for details of the plan of arrangement). Under the plan of arrangement, Skygold will acquire all outstanding shares of Wildrose and will then control 100% of the Spanish Mountain Project in central British Columbia. Wildrose shareholders will receive 0.82 of a common share of Skygold for each common share of Wildrose held prior to closing of the plan of arrangement.
Skygold and Wildrose are also pleased to announce that on June 17, 2008, the Supreme Court of British Columbia granted the final order approving the plan of arrangement.
The completion of the transaction is now subject only to the approval of the TSX Venture Exchange. The companies anticipate that upon receiving final approval, the transaction should close by June 27, 2008.
For further information please contact:
SKYGOLD VENTURES LTD
Tim Mikula (604) 484-6317 or
B&D Capital Partners (604) 685-6465