NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
VANCOUVER, British Columbia, April 24, 2025 (GLOBE NEWSWIRE) -- Golden Sky Minerals Corp. (TSX-V: AUEN) ("Golden Sky" or the "Company") is pleased to announce that Mr. Rob McEwen, a legendary figure in Canadian mining and the founder and former Chairman of Goldcorp Inc., has agreed to make a strategic investment in the Company through a convertible debenture.
Mr. McEwen will invest $220,000 CAD in the form of a six-month convertible debenture bearing 9% interest, convertible into 2,000,000 common shares at a price of $0.11 per share. If fully converted, Mr. McEwen would hold approximately 9.2% of Golden Sky's outstanding shares on a post-conversion basis.
"We are honoured to welcome Rob McEwen as an investor in Golden Sky," said John Newell, President & CEO. "His track record of building long-term value and supporting visionary resource companies speaks for itself. Rob's participation is a real milestone for us and a meaningful endorsement of our disciplined approach to exploration and corporate growth."
The proceeds from Mr. McEwen's investment will be used to advance ongoing work at Golden Sky's Rayfield Project in British Columbia, including:
- A deep-IP geophysical survey with modern 3D inversion modeling
- Finalizing the second drill permit
- Advancing technical reporting and geological interpretation
Rayfield is located within the Quesnel Trough, a prolific copper-gold district, and benefits from infrastructure access and a strong regional address.
About Rob McEwen
Rob McEwen is the Chairman and Chief Owner of McEwen Mining Inc. (TSX: MUX; NYSE: MUX), and the founder and former Chairman and CEO of Goldcorp Inc., which was acquired by Newmont Corporation in 2019 for US$10 billion. He is a recipient of the Order of Canada, a Canadian Mining Hall of Fame inductee, and is widely recognized for pioneering shareholder-first policies and value-driven exploration. He led the development of Goldcorp's Red Lake Mine, one of the highest-grade gold mines in the world.
About Golden Sky Minerals Corp.
Golden Sky Minerals (TSX-V: AUEN) is a Canadian mineral exploration company advancing high-potential copper and gold projects across British Columbia, Yukon, and Ontario. Its flagship Rayfield Project is located in a rapidly emerging porphyry copper-gold district and offers discovery-scale upside, excellent infrastructure, and proximity to several of Canada's top mining companies.
For more information, please visit: www.goldenskyminerals.com
ON BEHALF OF THE BOARD
John Newell
President & CEO
Golden Sky Minerals Corp.
info@goldenskyminerals.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
Statements contained in this news release that are not historical facts are "forward-looking information" or "forward-looking statements" (collectively, "Forward-Looking Information") within the meaning of applicable Canadian securities legislation. In certain cases, Forward-Looking Information can be identified by the use of words and phrases such as "anticipates", "expects", "understanding", "has agreed to" or variations of such words and phrases or statements that certain actions, events or results "would", "occur" or "be achieved". Although Golden Sky has attempted to identify important factors and risks that could affect Golden Sky and may cause actual actions, events or results to differ materially from those described in Forward-Looking Information, there may be other factors and risks that cause actions, events or results not to be as anticipated, estimated or intended, including, without limitation: inherent risks involved in the exploration and development of mineral properties; the uncertainties involved in interpreting drill results and other exploration data; the potential for delays in exploration or development activities; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with Golden Sky's expectations; accidents, equipment breakdowns, title and permitting matters; labour disputes or other unanticipated difficulties with or interruptions in operations; fluctuating metal prices; unanticipated costs and expenses; uncertainties relating to the availability and costs of financing needed in the future, including to fund any exploration programs on its projects; that Golden Sky may not be able to confirm historical exploration results and other risks set forth in Golden Sky's public filings at www.sedarplus.ca. In making the forward-looking statements in this news release, Golden Sky has applied several material assumptions, including the assumption that general business and economic conditions will not change in a materially adverse manner. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-Looking Information. Except as required by law, Golden Sky does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
A photo accompanying this announcement is available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/0d3347d9-97e0-43a1-b365-7196317d072a
