The Board of Sky Metals Limited advised that it has entered into an Option to Purchase Agreement to acquire the advanced Galwadgere Gold-Copper Project to complement its current exploration activities. SKY has been granted an exclusive Option to Purchase of the Galwadgere Copper-Gold Project from Alkane Resources Ltd. Previous exploration by Alkane has delineated a shallow, open-ended copper-gold resource at Galwadgere. SKY has identified the Galwadgere deposit as a target that can be rapidly expanded and is prioritised for immediate drill testing. South of the Galwadgere deposit, SKY has also identified an untested `McPhillamys style' gold target as well as devised a programme to assess the regional potential of EL 6320 including the McDowells & Christies prospects. To exercise the Option, SKY must spend $250,000 on in-ground expenditure within 18 months. On election to exercise the option, SKY may purchase 100% equity interest in EL6320 by issuing 6,000,000 fully paid ordinary shares in the capital of SKY to Alkane.