Mr. John Newell reports

GOLDEN SKY STAKES 263 KM2 PROPERTY EAST OF THE BEARDMORE-GERALDTON GREENSTONE BELT, ONTARIO

Through staking, Golden Sky Minerals Corp. has acquired the district-scale 26,300-hectare Auden gold property approximately 50 kilometres east of the Beardmore-Geraldton greenstone belt, Ontario, Canada. The property is 100 per cent owned by Golden Sky with no underlying royalties. The Auden property is located in an underexplored region that is primarily underlain by an east-west-trending sequence of mafic metavolcanics, metasediments and iron formation that shares many geological similarities with other major orogenic gold camps in the region. The most important feature of the property, the Auden structural zone, is a significant east-west-trending fault interpreted to be an eastward extension of the gold-producing Beardmore-Geraldton structural system.

With a similar geological setting to Equinox/Orion's Greenstone gold mines (5.05 million ounces gold), Agnico Eagle's Detour Lake mine (20.6 Moz Au), and other orogenic camps, including the Timmins and Kirkland Lake camps, Golden Sky believes there is high potential for the expansion and discovery of new gold targets on the property. The road-accessible Auden gold property is located approximately 65 kilometres northwest of Hearst, Ont., and is in close proximity to the paved Highway 11.

Auden property highlights:

• District-scale opportunity with 26,300 hectares that covers an approximately 70-kilometre strike length of the Auden structural zone, which has historically been interpreted to be an extension of the Beardmore-Geraldton structural system. The zone remains largely untested despite anomalous gold values being recorded from drilling and surface rock samples.
• Due to extensive overburden cover in the region (less-than-5-per-cent outcrop), past operators relied heavily on geophysical survey results followed by early-phase exploration drilling with widely spaced holes over several kilometres. Within the property area, 58 historical drill holes have been recorded. These early drill programs were typically limited to following up on ground-based geophysical targets as the first large-scale airborne geophysical survey was not conducted until 1993. Though limited in scope, the drilling demonstrated that precious metal mineralization is associated with a major east-west-oriented structure that extends approximately 70 kilometres (Auden structural zone).
• Some of the earliest recorded drilling was by the Fatima Mining Company Ltd. from 1956 to 1958. These holes are located in the western portion of the property. A total of 20 drill holes were spaced over 15 kilometres of sheared and folded metasediments, quartz porphyry, and iron formation. Almost every hole intersected zones of carbonate alteration, quartz veining and semi-massive to disseminated sulphides. There is no report of gold assays as the focus was on base metals. In 1990, McKinnon Prospecting conducted a field visit that included reanalysis of a few samples of Fatima Mining's core. One sample of semi-massive coarse-grained pyrite-pyrrhotite mineralization assayed 367 parts per billion gold and 250 parts per million arsenic, which highlights the prospectivity for gold mineralization in the area.
• In 1965, Colleen Copper Mines Ltd. explored around the Nagagami River in a zone of metavolcanics, conglomerate, iron formation and quartz porphyry with semi-massive to disseminated sulphides. A grab sample assayed 25 grams per tonne gold and 2.36 per cent copper (unverified). A follow-up four-hole drill program that focused on base metal exploration disclosed only two reported assays: both from hole CC4 (0.41 per cent Cu over 1.5 metres and 0.1 per cent Cu over 1.5 metres).
• From 1976 to 1978, Shell Canada Resources Ltd. conducted a regional program but never filed this work for assessment credit. Shell delineated a regional structure that was later termed the Auden structural zone. An estimated 12 holes were drilled in the region. In spite of strong alteration and the presence of arsenopyrite-pyrite-pyrrhotite mineralization, no assay results were recorded. In 1993, McKinnon Prospecting compiled the shell data and collected 48 samples to analyze for gold and arsenic. The gold assays ranged from 19 ppb Au to 1,277 ppb Au. In drill hole S78.04, one section of highly deformed pyrrhotite-rich, arsenopyrite-bearing iron formation assayed 0.670 g/t Au over 16.9 m.
• The most recent significant exploration occurred from 1988 to 1993 by McKinnon Prospecting, which was the first to conduct a comprehensive, property-wide airborne very-low-frequency/electromagnetic geophysical survey, which highlighted 34 target areas. A follow-up 17-hole drill program provided critical insight into the geology of the region, and either extended or discovered several strongly altered shear zones with anomalous precious metal values. One of the most compelling magnetic and electromagnetic geophysical targets was tested by holes MP-17-1, MP-14-1 and MP-13-1, collared at multikilometric intervals along an eight-kilometre east-west trend. The most westerly hole, MP-17-1, intersected a 27-metre-wide zone of pyrrhotite-rich iron formation that was selectively sampled, returning encouraging assays of 3.33 g/t Au over 1.2 m, 1.22 g/t Au over 1.5 m and 1.54 g/t Au over 0.7 m. Hole MP-14-1 was collared 1.5 kilometres to the east and intersected anomalous gold values over several metres, with the highest value of 0.8 g/t Au over 1.3 m. Hole MP-13B-1 was collared 2.7 km east of MP-14-1 and returned an assay of 0.19 g/t Au over 0.95 m. These three holes intersected similar geology over approximately 4.2 km. The continuity of these rock units is further supported by airborne magnetic geophysics, which highlight the potential for further exploration along this trend.
• Nearby infrastructure includes an extensive back-country-road network, electric power grid, paved Highway 11, rail access and local accommodations in Hearst, Ont. (2021 population: 4,794), located 60 km to the southeast. These factors support very cost-effective exploration.

John Newell, president and chief executive officer of Golden Sky, stated: "The acquisition of a new mineral exploration property near the renowned Geraldton-Beardmore gold district in Northern Ontario marks a significant expansion for Golden Sky Minerals. This area is noted for its prolific gold production, making it a strategic choice for the company, outside of the Canadian cordillera. With this latest acquisition, Golden Sky Minerals has diversified its exploration portfolio across three of Canada's most prolific mineral districts: Beardmore-Geraldton, Ontario; the Quesnel Trough, British Columbia; and the Tintina gold belt, Yukon. This diversification demonstrates the company's comprehensive approach to mineral exploration and its commitment to pursuing a variety of opportunities in various geological settings."

About Golden Sky Minerals Corp.

Golden Sky is a well-financed 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.

The drill-ready properties include Hotspot and Lucky Strike, both in Yukon, Canada. In addition, the drill-ready Rayfield copper-gold property in Southern British Columbia and the staking of the Auden property in Ontario add to the company's substantial early-stage Canadian property pipeline.

The company was incorporated in 2018 and is headquartered in Vancouver, B.C., Canada.

Carl Schulze, PGeo, consulting geologist with Aurora Geosciences Ltd., is a qualified person as defined by National Instrument 43-101 for Golden Sky's Ontario, Yukon and B.C. exploration properties, and has reviewed and approved the technical information in this release.

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