Vancouver, British Columbia--(Newsfile Corp. - September 3, 2025) - Golden Sky Minerals Corp. (TSXV: AUEN) ("Golden Sky" or "The Company") is pleased to announce a Definitive Agreement dated August 29, 2025 with Boliden Mineral Canada Ltd., a wholly owned subsidiary of Boliden AB ("Boliden"). Pursuant to the Definitive Agreement, Boliden and Golden Sky will collaborate in the development of Golden Sky's wholly-owned copper-gold porphyry Rayfield Property and Boliden's wholly-owned Gjoll Property.
Initially, Boliden will be granted the right to earn an eighty percent (80%) interest (the "Earn-In Option") in the Rayfield Property by funding up to C$20 million in staged exploration expenditures and cash payments over a six-year period. Following exercise of the Earn-In Option, the Rayfield Property will be contributed to a joint venture, along with Boliden's Gjoll Property, under which Golden Sky will control an initial twenty percent (20%) interest. The contiguous Rayfield and Gjoll properties (see Figures 1 and 2), located less than 60 km northwest of Kamloops, British Columbia, encompass 87,660 hectares within the prolific Quesnel Trough, one of Canada's premier porphyry copper belts. This metallogenic corridor hosts several major mining operations, including Teck's Highland Valley Copper Mine, Taseko's Gibraltar Mine, New Gold's New Afton Mine, Hudbay's Copper Mountain Mine, and Imperial Metals Mount Polley Mine. The Quesnel Trough is characterized by significant metal endowment and a well-established production history; however, vast areas remain underexplored by modern, systematic exploration methodologies. The region benefits from robust infrastructure and all-season access, support efficient exploration and development activities.
John Newell, President and CEO of Golden Sky Minerals, states: "This partnership is transformational for Golden Sky. Boliden's decision to collaborate with us on Rayfield-Gjoll validates the district-scale copper-gold potential of this project. It allows us to preserve our tight share structure while aggressively advancing exploration in one of Canada's most prolific mineral belts."
Rayfield Property Main Target Highlights:
Rayfield Target
An open-ended ~600 m x ~1,100 m moderate chargeability & resistivity anomaly (2024) is closely correlated with gold and copper mineralization, both at surface and within historic drillholes (see June 6, 2024 news release).
Historic drill holes intersecting the geophysical anomaly show moderate to heavy fracturing with potassic, clay, epidote and hematite alteration. The overprinted nature of alteration styles suggests multiple pulses of mineralized fluids occurred during a long-lived porphyry-style system.
Mineralization is present as primary sulphides (chalcopyrite, bornite, and chalcocite) and as secondary copper oxides (cuprite and malachite). The primary sulphides most commonly occur as fracture fills and along quartz veinlet margins and occasionally as interstitial disseminations. Secondary copper oxides tend to be present within fault zones, fractures, clay gouge, feldspar veinlet margins, and rarely as disseminations replacing mafic minerals. Native copper is commonly present with the primary sulphides. The copper grade correlates closely with the degree of fracturing/quartz veining and provides evidence for higher-grade "cores" at the Rayfield Zone.
Table 1: Select Rayfield historic diamond drillholes (Koffyberg, 2008)
| Drillhole ID | Grade |
| DDH 374-01 | 0.08% Cu over 151 m incl. 0.13% Cu over 17.9 m |
| DDH 374-03 | 0.09% Cu over 167 m incl. 0.18% Cu over 43.4 m |
| DDH 374-06 | 0.13% Cu over 164 m |
| DDH 374-08 | 0.09% Cu over 151 m incl. 0.14% Cu over 12 m |
| DDH 374-12 | 0.11% Cu over 150 m |
| DDH 374-13 | 0.12% Cu over 240 m incl. 0.14% Cu over 96 m |
| DDH 374-16 | 0.14% Cu over 66 m |
| DDH 374-20 | 0.11% Cu over 195 m, incl. 0.195% Cu over 30 m |
| DDH 374-22 | 0.11% Cu over 190.5 m, incl. 0.16% Cu over 33 m, incl. 0.19% Cu over 15 m |
| DDH 784-05 | 0.13% Cu over 66 m |
| DDH 784-07 | 0.08% Cu over 169 m |
Gnome Target
Large-scale ~1.8 km x 1.5 km geochemical soil anomaly (Cu-Au-Zn-As-Mo) (see December 6, 2022 news release)
ZTEM geophysical survey identified a major resistive anomaly - interpreted as a buried porphyry system(see July 23, 2025 news release).
Historical surface sample assays up to 0.22% Cu and 1.02 g/t Au (Morin, 1988).
Favorable alteration: widespread phyllic and propylitic zones across the target are consistent with exposure of the upper zone of a preserved porphyry system.
Historical drill hole 72455 intersected 0.1% Cu over 68 m (Brauset, 1998) near end of hole - interpreted to be the outer zone of a mineralized porphyry.
Underexplored with minimal historical drilling.
Coincident magnetic, gravity & radiometric anomalies aligned with alkalic Cu-Au porphyry signatures in the Quesnel terrane.
Semlin Target
- Large-scale ~1.4 km x 0.9 km geochemical soil anomaly (Cu-Au-Zn-As-Mo) (see December 6, 2022 news release)
Located along the edge of a high-resistivity batholith - interpreted to be a favorable porphyry setting.
Surface samples assayed up to 0.2% Cu, 135 ppm Mo, 55 ppb Au (2022)
Dioritic-monzonitic intrusion mapped along edge of geophysical and geochemical anomaly is associated with disseminated pyrite & quartz veining.
Mowich Target
Copper-rich float material (Discovery Showing - assays up to 286 g/t Au, 200 g/t Ag, 37.46% Cu) recovered from a mudslide lies downslope of a potential source area. This indicates the material may not have been transported far and that a mineralized system may be present to the west (see February 27, 2023 news release).
A historical 3- to 4-meter-wide shear zone southeast of the Discovery Showing hosts chalcopyrite, with minor bornite and chalcocite mineralization in fractures and amygdules within basalt. Cuprite, native copper, malachite, and crystalline azurite occur in fractures, particularly in the higher (easternmost) zone. Rock sampling in 2022 yielded assays up to 230 ppb Au, 2.5% Cu, and 16.9 ppm Mo.
Definitive Agreement
Boliden is granted the right to earn up to an 80% interest in the Rayfield-Gjoll Project by incurring up to C$20 million in staged exploration expenditures and cash payments to Golden Sky over a six-year period. Golden Sky will remain the project operator. Upon fulfilling the earn-in, the combined property will form a joint venture under which Golden Sky will retain a 20% interest and Boliden an 80% interest, with pro-rata funding obligations thereafter.
The earn-in structure is as follows:
Table 2: Boliden Mineral Canada Ltd. earn-in agreement for the Rayfield-Gjoll property
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11793/264998_e8090d9a84b5fbd1_004full.jpg
Figure 1: The ~52,000-hectare Rayfield Cu-Au property is located within the Quesnel Trough, British Columbia's primary copper-producing belt. Note: Proven and Probable (P&P), Measured and Indicated (M&I). *Highland Valley: Teck Mineral P&P, M&I, Inferred Resources Annual Information for February 23, 2022 (Teck.com); New Afton: NI 43-101 Technical Report. Effective Date December 31, 2024 (newgold.com); Mount Polley: Imperial Metals P&P, M&I, Inferred Resources Reserves and Resources; Website Information, dated June, 2023 (www.imperialmetals.com); Gibraltar: Taseko Reserves and Resources Website Information, accessed August 21, 2025; R. M. Weeks et al., The Brenda Mine in Porphyry Copper Deposits of the Calc-Alkalic Suite Paper 9 of the Porphyry Deposits of Northwestern Cordillera of North America, CIM Special Volume 46, pp 192-200. *Note: The QP has been unable to verify the information, and that the information is not necessarily indicative to the mineralization on the Rayfield-Gjoll property.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11793/264998_e8090d9a84b5fbd1_005full.jpg
Figure 2: The combined >87,000-hectare Rayfield-Gjoll Property is located in a highly prospective "gap" in the Quesnel Trough, where major companies have active mines and are exploring for new Cu-Au porphyry deposits.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11793/264998_e8090d9a84b5fbd1_006full.jpg
References
Brauset, R.U. 1998. Assessment Report on Geological and Geochemical Surveys of the South-East Quadrant of Gnome. BC Geological Survey Assessment Report 25996.
Koffyberg, A. 2008. Assessment Report on a Diamond Drill Program, Rayfield River Program. BC Geological Survey Assessment Report 30271.
Morin, J.A. 1988. Geological and Geochemical Report on the Epi Claim Group. BC Geological Survey Assessment Report 17810.
About Golden Sky Minerals Corp.
Golden Sky Minerals Corp. is a well-funded junior grassroots explorer engaged in the acquisition, assessment, exploration, and development of mineral properties located in highly prospective areas and mining-friendly districts. Golden Sky's mandate is to develop its portfolio of properties to the mineral resource stage through systematic exploration.
Its portfolio includes the Rayfield-Gjoll Copper-Gold Project in British Columbia, the Hotspot and Luckystrike gold projects in Yukon, and the Auden Gold Project in Ontario's Timmins camp. The company was incorporated in 2018 and is headquartered in Vancouver, British Columbia, Canada.
More information can be found at the Company's website at www.goldenskyminerals.com
About Boliden
Boliden contributes to a sustainable future by extracting, producing and recycling metals that are essential to improve society for generations to come. With care for people and the environment, combined with experience gathered over a century and cutting-edge technology, our 8,000 employees have achieved leading productivity and one of the lowest carbon footprints in the industry.
ON BEHALF OF THE BOARD
John Newell, President and Chief Executive Officer
Carl Schulze, P. Geo., Consulting Geologist with Aurora Geosciences Ltd, is a qualified person as defined by National Instrument 43-101 for Golden Sky's British Columbia exploration projects, and has reviewed and approved the technical information in this release.
For new information from the Company's programs, please visit Golden Sky's website at www.GoldenSkyMinerals.com or contact John Newell by telephone (604) 568-8807 or by email at info@goldenskyminerals.com or john.newell@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.sedar.com. 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/264998
SOURCE: Golden Sky Minerals Corp.
