The Board of SKY Metals Limited provided an update on its Cullarin & Kangiara Gold Projects located approximately 20km west of Goulburn & approximately 40km north of Yass, respectively, in NSW. Sky Metals Limited has notified Heron Resources Limited (Heron or HRR) that it has now met the Farm In Expenditure of the Farm-In and Joint Venture Agreement. SKY has now expended in excess of AUD 2,000,000 across the Cullarin and Kangiara Projects ("Projects") within the Farm In Expenditure period to earn an 80% equity interest in the Tenements. Going forward, Heron will be free carried at its 20% interest for its expenditure until such time that a definitive feasibility study has been completed or until such time that $10,000,000 of Expenditure (inclusive of Farm In Expenditure) has been incurred by SKY, whichever comes first (Free Carried Period). A multi drill rig program is planned to evaluate the depth potential & southern extension of high-grade Hume gold target as well as test the high priority McPhillamys style soil targets north of Hume target. This programme is scheduled to commence later this month.