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Skygold Ventures Ltd. (Skygold) (TSX.V:SKV) and Wildrose Resources Ltd. (Wildrose) (TSX.V:WRS) are pleased to announce additional results from the on-going 30,000 metre drill program at Spanish Mountain in central British Columbia.  Results to date continue to intersect and expand significant gold mineralization within the Main Zone.  

Highlights

• Drilling within the area of the Main Zone proves continuity of gold grade and thickness. 
   
• Hole 299 drilled on section 5+25 N, intersected 83.0 metres of 1.02 g/t gold including 32.0 metres of 1.63 g/t gold and 18.0 metres of 2.01 g/t gold in the lower zone.
    
• Hole 290, drilled on section 4+95 N (east of hole 289, see news release dated July 12, 2006), intersected 56.5 metres of 1.28 g/t gold including 26.5 metres of 1.93 g/t gold.
   
• Drilling expands the width of the Main Zone to the west by 50 metres. This zone has now been traced along strike for 1200 metres with widths to 400 metres.
   
• The southernmost holes completed to date by Skygold intersected mineralization similar to holes in the central portion of the Main Zone.
   
• Three drills are currently active on the Spanish Mountain project.  Two diamond drills are focused on the Main Zone in an effort to complete a 43-101 compliant resource on the zone this fall.

Results have been received for 15 of 42 holes completed to date (results for the first four holes were released July 12, 2006).  Of these 15 holes, all eight holes which targeted the central portion of the Main Zone intersected significant gold mineralization.  Seven holes were also drilled to test targets in the southern portion of the Main Zone, including step-out drilling to the southwest.

Previous news reported an expansion of the main zone width by 150 metres.  Results from this phase (holes 298 and 300) have increased the width of the central portion of the Main Zone by an additional 50 metres to the west.  This increases the overall width to over 400 metres and the zone remains open both to the east and west.  In-fill drilling (holes 290 and 299) continue to show that wide zones of mineralization are predictable and can be followed with systematic drilling. 

The following table summarizes significant results from the central portion of the Main Zone.

Hole Number	From (m)	To (m)	Width (m)*	Au (g/t)	Zone
06-DDH-290	65.5	122	56.5	1.28	Upper
Including…	95.5	122.0	26.5	1.93	Upper
06-DDH-298	51.0	81.0	30.0	1.44	Upper
Including…	52.5	66.0	13.5	2.06	Upper
And	180.0	192.0	12.0	1.05	Lower
And	283.0	293.5	10.5	1.12	Lower
06-DDH-299	22.0	105.0	83.0	1.02	Upper
Including…	47.5	79.5	32.0	1.63	Upper
And	148.5	166.5	18.0	2.01	Lower
06-DDH-300	66.5	89.0	22.5	1.25	Upper
And	305.0	332.0	27.0	1.05	Lower
Including…	305	324.5	16.5	1.27	Lower

* represents drill hole intercept width. 

Drilling in the southern portion of the Main Zone targeting bulk tonnage potential rather than the traditional high grade vein systems identified by previous operators has indicated that gold mineralization is in fact widespread in the South as well.  Four holes have demonstrated the existence of near surface bulk tonnage potential. Two holes, 291 and 294 were also significantly anomalous while hole 296 was abandoned in a fault. Holes 295 and 297 which are the southern-most holes drilled by Skygold Ventures both intersected mineralization similar to holes in the central portion of the main zone, this area remains wide open for further drilling. 

The following table summarizes significant results from the southern portion of the Main Zone.

Hole Number	From (m)	To (m)	Width (m)*	Au (g/t)	Zone
06-DDH-292	19.0	35.5	16.5	2.08	Upper
06-DDH-293	11.0	30.5	19.5	1.03	Upper
06-DDH-295	12.0	22.5	10.5	1.21	Upper
And	88.0	101.0	13.0	0.97	Lower?
06-DDH-297	26.0	47.0	21.0	0.89	Upper?
And	90.5	99.5	9.0	1.08	Lower?

* represents drill hole intercept width. 

Skygold’s President Doug Fulcher states, “All eight holes drilled within the central portion of the Main Zone during this phase of drilling intersected significant gold mineralization, which is a remarkable 100% success rate in this part of the property.  As main zone drilling continues to build confidence in our interpretation, step out drilling continues to expand the dimensions of the zone.  I am anxiously awaiting results for an additional 22 holes which are currently in the lab.  These include follow-up drilling to the north near hole SPRC-310 (Released February 22, 2006) which was our highest grade widest intercept on the property.  We continue to very aggressively explore the Spanish Mountain property with two diamond drills and a reverse circulation drill.  We remain on target to complete an initial resource calculation on the Main Zone before the end of the year.” 

The Spanish Mountain project is a joint venture between Skygold Ventures Ltd. and Wildrose Resources Ltd. in which Skygold has a 70% participating interest and Wildrose has a 30% participating interest.

Eco Tech Laboratory Ltd. of Kamloops B.C., an accredited laboratory, is conducting the sample preparation and analyses. Skygold/Wildrose is 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

“Doug Fulcher”

Doug Fulcher,
President
www.skygold.ca

Contact:  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. There can be no assurance that such statements will prove to be accurate and 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.