NAME CHANGE: Skygold to become Spanish Mountain Gold

VANCOUVER — Skygold Ventures is changing its name to Spanish Mountain Gold Ltd. Subject to regulatory approval, the change will take effect later this month.

The company says the new name reflects its future focus on the development of the Spanish Mountain gold project in British Columbia's Cariboo region. A preliminary economic assessment (PEA) is expected in the early part of 2010. Using a cutoff of 0.5 g/t gold, the Spanish Mountain deposit has a measured and indicated resource of 102.3 million tonnes grading 0.785 g/t Au, plus an inferred resource of 11.7 million tonnes grading 0.787 g/t Au. There may be close to 2.9 million contained ounces.

The company's website is at www.Skygold.com, at least for now.