Mr. Russell Bradford reports

GOLDSKY RESOURCES REPORTS POSITIVE METALLURGICAL TEST RESULTS FOR THE BARSELE GOLD PROJECT

Goldsky Resources Corp. has released positive metallurgical testwork results from gravity concentration and cyanide bottle-roll leach testing completed on composite samples from the Central and Avan orebodies at its 100-per-cent-owned Barsele gold project in Sweden. The testwork, carried out at Alfred H Knight Laboratory in Cornwall, U.K., forms part of the metallurgical program supporting the preliminary economic assessment (PEA) for Barsele.

Summary

Testwork was conducted on a composite sample weighing 77.6 kilograms for the Avan deposit and 78.7 kg for the Central deposit across a depth range of five to 215 metres. Applying the industry benchmark of a 98-per-cent intensive leach gold recovery on the gravity concentrate, together with the gold leach extraction achieved on the gravity tailings, the testwork returned overall mass balance gold recoveries of 89.6 per cent for the Central composite sample and 90.8 per cent for the Avan composite sample.

Russell Bradford, chief executive officer and director, commented: "These results confirm that Barsele mineralization responds well to a conventional gravity-cyanidation flow sheet, with overall gold recoveries in the range of 90 per cent for both the Central and Avan orebodies.

"The metallurgical characteristics identified to date support continued advancement of the Barsele PEA and lay the groundwork for an optimization metallurgical testwork program which will improve both leach recoveries and reagent consumptions."

Gravity concentration testwork

A 20-kilogram sample was milled to 80 per cent passing 75 micrometres and processed through a Falcon L40 centrifugal gravity concentrator. The gravity concentrate was upgraded on a Mozley Superpanner to a concentrate mass of 0.05 per cent to 0.08 per cent, with the combined Falcon and Mozley tails carried forward as feed to the bottle-roll gold leach tests. Gravity gold recoveries of 30.2 per cent for the Central composite sample and 27.7 per cent for the Avan composite sample were achieved. Gravity gold recoveries above 20 per cent are indicative of gravity-recoverable gold within the ore.

Gold leach testwork

Cyanide bottle-roll leach tests were conducted in duplicate on the gravity tailings under the following conditions: a grind of P80 75 micrometres; aeration to a dissolved oxygen level of eight parts per million; a 48-hour residence time; and a sodium cyanide concentration of one gram per litre, with kinetic solution sampling at two, four, eight, 12, 18, 24, 32 and 48 hours to monitor pH and free cyanide. Gold leach extraction of 86.0 per cent for the Central composite sample and 88.1 per cent for the Avan composite sample was achieved at acceptable leach test accountabilities. Cyanide consumption was approximately 0.75 kilogram per tonne and lime consumption was below 0.5 kg/t. Leach kinetics under air aeration were fast and plateaued at 12 hours, indicating that a 24-hour residence time will be sufficient to complete gold dissolution. Silver grades in the gravity tails were notably higher than gold grades.

Goldsky Resources contracted Alfred H Knight Mineral Processing U.K. Ltd. (AHK) in Cornwall to conduct PEA level metallurgical testwork on Barsele ore samples that were delivered on July 16, 2026. AHK recorded and weighed the core samples from Avan, Central and the Comminution samples on delivery. The bottle roll leach tests were performed in duplicate, and the products from the reported leach tests were sent to the SAEL Assay Laboratory, which is ISO 17025 accredited. The masses of products were recorded in the AHK digital sample tracking system, with all products labelled, which can be referenced again for rechecking.

The gold leach tests are interim results whilst metallurgical testwork continues on the Barsele ore samples at AHK. All the testwork undertaken by AHK with the recorded results will be described in detail in the PEA technical report with the QA/QC. Russell Bradford, the chief executive officer of Goldsky Resources, inspected the laboratory on Aug. 5, 2026.

Next steps

The flow sheet developed through the PEA testwork will be further optimized ahead of a prefeasibility study (PFS) through additional testwork, including:

• Plant gravity testing to improve gravity recovery in the coarser size fractions and simulate the configuration of the gravity circuit;
• Evaluation of grind size versus gold leach recovery;
• Assessment of the effect of preaeration with oxygen addition on cyanide consumption;
• Testwork to increase silver leaching kinetics;
• Carbon equilibrium testing to assess the effect of silver on gold adsorption;
• Cyanide detoxification testwork to inform reagent consumption for operating cost estimates;
• Settling testwork to determine thickener sizing parameters.

Qualified person

The scientific and technical information in this news release has been reviewed and approved by Glenn Bezuidenhout, senior process consultant and director of GB Independent Consulting Pty. Ltd. and fellow of the SAIMM, a qualified person as defined by National Instrument 43-101.

About Goldsky Resources Corp.

Goldsky Resources is a publicly listed gold exploration company, consolidating assets in Sweden and Finland. The company's flagship asset is the 100-per-cent-owned Barsele gold project in central Sweden. Barsele is host to an indicated mineral resource of 7.88 Mt (million tonnes) grading 1.27 grams per tonne Au (gold) containing 0.32 Moz (million ounce) Au and an inferred mineral resource: 28.75 Mt grading 1.98 g/t Au containing 1.83 Moz Au.

Goldsky Resources owns a district-scale licence position surrounding Barsele totalling approximately 80,000 hectares on Sweden's Gold Line greenstone belt comprised of two additional projects (Paubacken, Storjuktan).

Additionally, in central Finland, Goldsky Resources is the 100-per-cent owner of a district-scale position covering the entire underexplored Oijarvi greenstone belt, including the Kylmakangas deposit, the largest known gold occurrence on this belt. Goldsky Resources is also the 100-per-cent owner of the Rajapalot gold cobalt project situated in northern Finland, which has an inferred resource of 9.78 million tonnes containing 867,000 oz Au at 2.8 g/t Au at 4,300 t Co at 441 ppm Co (National Instrument 43-101 technical report on a preliminary economic assessment of the Rajapalot gold-cobalt project, Finland; effective date: Dec. 19, 2023, prepared for Mawson Finland Ltd. by SRK Consulting (U.K.) Ltd. SRK qualified person Christopher Bray Beng (mining), MAusIMM(CP), Ove Klaver, MSc (geology), EurGeol, Eemeli Rantala, MSc (geology), PGeo, Craig Brown, BE (chemistry), GradDipGeosci, FAusIMM, Mathieu Gosselin, Beng (mining), PEng).

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