Mr. Karim Rayani reports

SKULL RIDGE GOLD CORP. CLOSES SECOND AND FINAL TRANCHE, COMPLETING $122,500 NON-BROKERED PRIVATE PLACEMENT

Skull Ridge Gold Corp. has closed the second and final tranche of its previously announced non-brokered private placement, completing the financing for aggregate gross proceeds of approximately $122,500.

Pursuant to the second and final tranche, the company issued 1.75 million units at a price of 2.6 cents per unit, for gross proceeds of $45,500.

Each unit consists of one common share of the company and one common share purchase warrant. Each warrant entitles the holder to acquire one additional common share of the company at an exercise price of five cents for a period of 60 months from the date of issuance.

Including both tranches, the company completed the private placement through the issuance of an aggregate of 4,711,528 units for aggregate gross proceeds of approximately $122,500.

In connection with the financing, the company paid cash finders' fees totalling $3,120 and issued 120,000 finders' warrants. Each finder's warrant entitles the holder to acquire one common share of the company at an exercise price of five cents for a period of 60 months from the date of issuance.

The company further announces that Karim Rayani, chief executive officer and a director of the company, subscribed for one million units under the private placement. Mr. Rayani's participation constitutes a related party transaction within the meaning of Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. The company is relying on the exemptions from the formal valuation and minority shareholder approval requirements contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101, as the fair market value of the participation does not exceed 25 per cent of the company's market capitalization.

The net proceeds of the financing will be used to advance the company's exploration activities, for working capital and for general corporate purposes.

All securities issued in connection with the financing will be subject to a statutory hold period in accordance with applicable securities laws.

About Skull Ridge Gold Corp.

Skull Ridge Gold is a Canadian mineral exploration company focused on the acquisition, exploration and development of high-potential precious and base metal projects. The company's flagship asset is the Skull Island project (formerly known as the Heritage gold-silver project), located on the Burin Peninsula of Newfoundland and Labrador. The district-scale project comprises over 145 square kilometres of contiguous mineral claims within the prospective Avalonian epithermal belt and is hosted along the Point May epithermal zone, a multikilometre mineralized system prospective for epithermal gold-silver mineralization with numerous identified exploration targets and known occurrences of gold, silver and base metals. The Skull Island project benefits from excellent infrastructure, year-round access and a strategic location within one of Atlantic Canada's most prospective and underexplored epithermal and hydrothermal mineral belts.

Skull Ridge is committed to creating long-term shareholder value through disciplined exploration, strategic acquisitions and responsible project development.

We seek Safe Harbor.