RICHMOND, BRITISH COLUMBIA--(MARKET WIRE)--Aug 6, 2008 -- Skyline Gold Corporation ("Skyline") (CDNX:SK.V - News), a company engaged in the exploration and development of its Bronson Slope mining property in north western British Columbia's 'Golden Triangle', is pleased to announce that it has arranged, subject to regulatory approval, a non-brokered private placement of up to 2,000,000 units at a price of $0.12 per unit to qualified investors.

Each unit consists of one common share and one-half of a share purchase warrant. Each whole warrant will entitle the holder to purchase one additional share of the Company at a price of $0.18 per share for a period of one year from the date of issue. The proceeds from the private placement will be used for engineering and design required for a feasibility study, initiating the environmental assessment process, reclamation, consultations with First Nations, working capital and general corporate purposes.

ON BEHALF OF THE BOARD OF DIRECTORS

SKYLINE GOLD CORPORATION

Cliff Grandison, Chairman and Chief Executive Officer

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

     Contacts:
     Skyline Gold Corporation
     Cliff Grandison
     Chairman and Chief Executive Officer
     (604) 270-3878
     (604) 270-3858 (FAX)
     Website: http://www.skylinegold.com