ESKAY MINING CORP. (TSX VENTURE:ESK)(FRANKFURT:878 985)(BERLIN:878 985) ("Eskay"
or the "Corporation") wishes to announce t hat further to its press release of
July 26, 2011, the Corporation has completed the sale of 2,881,818 units (the
"Units") priced at $0.11 per Unit for gross proceeds of $316,999.98. Each Unit
consists of one (1) common share (the "Common Share") and one-half (1/2) of a
share purchase warrant (a "Warrant"). Each full Warrant entitles the holder to
acquire a further Common Share of the Corporation at a price of $0.20 per Common
Share until the earlier of: (i) the date which is twelve (12) months following
the closing; and (ii) in the event that the closing price of the Common Shares
on the TSX Venture Exchange is at least $0.30 for ten (10) consecutive trading
days, and the 10th trading day (the "Final Trading Day") is at least four (4)
months from the closing date, the date which is thirty (30) days from the Final
Trading Day. A cash fee of $21,840 and 198,545 broker warrants to acquire Common
Shares at a price of $0.20 per share for a period of twelve (12) months from
closing were issued in relation to this closing. All of the securities referred
to herein are legended and restricted from trading until at least December 24,
2011.


The Corporation continues to offer 2,118,182 Units on the same terms as in the
Corporation's July 26, 2011 press release.


The current issued and outstanding capital is 89,731,929 after the above
mentioned issuance of shares.


Eskay has completed a 26 line-kilometre ground geophysics program on its 100%
owned Corey and 70% owned SIB projects located in the Stewart Mining District,
British Columbia. The projects, which are situated to the south of Barrick
Gold's Eskay Creek Mine, are considered prospective for VHMS, porphyry and
epithermal gold mineralization. Five high-priority prospects were surveyed in
July and August of 2011 using S. J. Geophysics' IP/resistivity distributed
acquisition system.


S. J Geophysics' system is well suited to exploring in rugged terrain such as
that in the Eskay area. The purpose of these surveys was to explore for
mineralized systems at greater depth than previously tested by drilling and
shallow ground geophysics. Both surface arrays and available drill hole current
electrode arrays were utilized in these surveys. Three dimensional resistivity
and IP inversion modeling is currently under way and results are pending.


A total of 12 line kilometres targeted mineralization at the Hexagon/Hexagon
East and Lulu targets on the SIB property (optioned from St Andrews Goldfields).
Five borehole electrodes were also utilized at Lulu in an attempt to explore for
deeper-seated sulfide mineralization.


At Corey, the survey targeted the Red lightning GFJ and C-10 targets, however
glaciers and mud/rock slides limited the extent of these grids. 


The 3-D inversion results are expected to be available in September of 2011. The
Corporation has filed sufficient work on the SIB and Corey properties to keep
them in good standing for ten (10) years.


Cautionary Note Regarding Forward-Looking Statements: This Press Release
contains forward-looking statements that involve risks and uncertainties, which
may cause actual results to differ materially from the statements made. When
used in this document, the words "may", "would", "could", "will", "intend",
"plan", "anticipate", "believe", "estimate", "expect" and similar expressions
are intended to identify forward-looking statements. Such statements reflect our
current views with respect to future events and are subject to such risks and
uncertainties. Many factors could cause our actual results to differ materially
from the statements made, including those factors discussed in filings made by
us with the Canadian securities regulatory authorities. Should one or more of
these risks and uncertainties, such actual results of current exploration
programs, the general risks associated with the mining industry, the price of
gold and other metals, currency and interest rate fluctuations, increased
competition and general economic and market factors, occur or should assumptions
underlying the forward looking statements prove incorrect, actual results may
vary materially from those described herein as intended, planned, anticipated,
or expected. We do not intend and do not assume any obligation to update these
forward-looking statements, except as required by law. Shareholders are
cautioned not to put undue reliance on such forward-looking statements.
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