A pulsating contest at Markievicz Park produced a result which keeps Sligo and Offaly on course for their respective objectives in Section C. Unbeaten Offaly are now nicely poised to clinch a quarter-final spot and a place in Division One next year, while Sligo are strongly in contention to make the second division.
For two teams who were operating in Division Four 12 months ago, this represents significant progress and their remarkable rate of improvement over the last year was gloriously evident in this tense, tough and fiercely competitive encounter.
Sligo, who trailed by three points - 0-6 to 0-3 - at the interval, looked set to inflict the first defeat of the league on Offaly when they moved two points clear with just four minutes remaining.
But the Leinster champions showed their resilience in a nailbiting finish as a brilliant six-man move carved out a chance for John Kenny to blast an unstoppable shot to the roof of the net in the last minute.
The drama was far from over, however. Sligo launched one last attack and grabbed a deserved equaliser in injury time when Paul Taylor scored from a close-range free.
If Offaly were aggrieved at the awarding of the match-saving free, there was no denying that a draw was a fair result on a day when both sides made a huge contribution to a cracking match.
Offaly, with a strong wind at their backs, had the better of the early exchanges and quickly established a four-point lead with scores from Vinny Claffey (2), Peter Brady and Ronan Mooney. Dessie Sloyane opened Sligo's account from a free after 16 minutes, but the Leinster side were soon 0-6 to 0-1 in front.
Sligo finished the half strongly and points by Taylor and Sean Davey reduced the deficit to three points at the interval.
The second half produced tremendous football and some wonderful scores, the pick of which were excellent points from play by Davey and Ken Killeen for Sligo.
With time running out, Taylor and substitute Gerry McGowan popped over points to put Sligo two points clear. Offaly refused to give in, however, and looked to have clinched a dramatic winner with Kenny's late goal. But Taylor came to Sligo's rescue.
Sligo: P Kilcoyne; N McGuire, N Clancy, M Cosgrove; R Keane, B Kilcoyne (0-1), N Carew; E O'Hara, P Durcan; K Killeen (0-1), B Walsh, S Davey (0-2); D Sloyane (0-1), P Taylor (0-5), S Dorrian (0-1). Sub: G McGowan (0-1) for Dorrian (55 mins).
Offaly: P Kelly; C Daly, B Malone, D Foley; P O'Reilly, F Cullen, T Coffey; J Kenny (1-0), J Grennan; C Quinn, S Grennan, R Mooney (0-1), V Claffey (0-5), R Malone, P Brady (0-2). Subs: J Brady (0-1) for O'Reilly (34 mins), K Kelleghan for Mooney (53 mins).
Referee: B Gorman (Armagh).