Mr. Ryan Connacher reports

GOLDEN SPIKE ANNOUNCES UPSIZED NON-BROKERED PRIVATE PLACEMENT AND BOARD APPOINTMENTS

Golden Spike Resources Corp., due to strong investor demand, has increase the size of its previously announced non-brokered private placement from 500 units of the company to 975 units, at a price of $1,000 per unit, for aggregate gross proceeds of up to $975,000. Each unit will consist of one 15 per cent unsecured convertible debenture of the company in the principal amount of $1,000 and 26,315 common share purchase warrants of the company. Unless otherwise indicated, all dollar amounts in this news release are expressed in Canadian dollars.

The material terms of the offering remain as previously announced on Aug. 17, 2026, except that the company has increased the maximum size of the offering to 975 units for aggregate gross proceeds of up to $975,000.

Closing of the offering is subject to all necessary regulatory and stock exchange approvals, including the approval of the Canadian Securities Exchange. All securities issuable in the offering are subject to a statutory hold period until the date that is four months and one day from the date of issuance.

Pursuant to Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions, the offering may constitute a related party transaction as insiders of the company are expected to subscribe in the offering. The company is intending to rely on exemptions from the formal valuation and minority approval requirements of MI 61-101. The company did not file a material change report more than 21 days before the expected closing of the offering as the details of the related parties' participation in the offering have not been settled.

New directors

The company is also pleased to announce the appointment of Mike Gardner as non-executive chairman of the board of directors and Ashton Wekerle as a director of the company. In connection with these appointments, Keith Anderson has resigned as a director of the company and will continue to serve as president.

Mike Gardner, director and non-executive chairman

Mr. Gardner brings more than five decades of Canadian capital markets experience, with deep roots in the mining and oil and gas sectors. He began his career on the floor of the Toronto Stock Exchange in 1973, where, at the time, he was the youngest professional trader on the floor, making markets in mining, and oil and gas stocks. Mr. Gardner went on to serve as head trader at Yorkton Securities for 25 years, during the firm's era as one of Canada's premier resource-focused investment dealers, and later founded and built the trading desk at Byron Securities. As non-executive chairman, Mr. Gardner will provide governance oversight and strategic guidance as the company enters its next phase of growth.

Mr. Gardner commented: "The Gordon name carried real weight on Bay Street when I was on the trading floor, and I like what this team is building under it -- disciplined, well structured and positioned for a strong resource market. I'm pleased to join the board and put my experience to work for shareholders."

Ashton Wekerle, director

Ashton Wekerle is an associate at Altitude Capital Partners, where he focuses on corporate finance, supporting transactions and investment activity across the mining and resource sectors. He holds a bachelor of laws and gained early exposure to capital markets and deal structuring through his father, Michael Wekerle, the Bay Street financier. Ashton Wekerle brings a detail-oriented approach and is committed to advancing Golden Spike's strategic and exploration objectives.

About Golden Spike Resources Corp.

Golden Spike is a Canadian mineral exploration company focused on identifying, acquiring and unlocking value in mineral opportunities in Ceanada and other low-risk jurisdictions. The company currently holds a 100-per-cent interest in the 5,175-hectare Gregory River property in Newfoundland, strategically centred over an approximate 11-kilometre-long stretch of the Gregory River VMS (volcanogenic massive sulphide) belt, a north-northeast-trending corridor of very prospective ground with potential to host Cyprus-type polymetallic VMS deposits. In addition, the property hosts a cluster of historically explored, high-grade, copper-plus-or-minus-gold-zinc vein structures and breccia hosted stockworks. Golden Spike Resources remains dedicated to sustainable exploration practices, and continues to collaborate with local communities, consultants and stakeholders as it progresses its exploration initiatives.

We seek Safe Harbor.