Golden Spike Completes Winkie Drilling and Soil Sampling at Gregory River

Rhea-AI Summary

Golden Spike Resources (OTCQB: GSPRF) has completed its Winkie drilling and soil sampling programs at the Gregory River Copper-Gold Property in western Newfoundland. The exploration program included eight shallow drill holes totaling 423.7 meters targeting the Lode 9 Northeast VMS target and the Lower Mitchell and Vein Zone West vein-style copper-gold targets.

The company collected 623 soil samples over a 2.6 km by 2.0 km grid at the Steep Brook North target area. All samples have been sent to Eastern Analytical Laboratory for analysis, with results expected by October. Golden Spike plans to conduct additional prospecting and sampling later this fall.

Positive

• Completed comprehensive exploration program combining drilling and soil sampling
• Strategic coverage of 2.6 km by 2.0 km area with 623 soil samples
• Implemented robust QA/QC program with regular quality controls

Negative

• Limited drill depth and core diameter due to Winkie drill rig constraints
• Significant portions of the target area are covered by overburden with limited outcrop exposure

Vancouver, British Columbia--(Newsfile Corp. - September 3, 2025) - Golden Spike Resources Corp. (CSE: GLDS) (OTCQB: GSPRF) (FSE: L5Y) ("Golden Spike" or the "Company") is pleased to announce the successful completion of the Winkie drilling and soil sampling programs on its 100%-owned Gregory River Copper-Gold Property ("the Property"), located in western Newfoundland. The crews have now demobilized from the field.

"We are very pleased with the efficiency and execution of this summer's exploration work," said Keith Anderson, President and CEO of Golden Spike. "The combination of targeted drilling and soil sampling represents an important step forward in advancing our understanding of the project and defining areas for further exploration."

The Winkie drilling program included eight, shallow drill holes, totalling approximately 423.7 m that tested several priority, ATV trail-accessible targets, including the Lode 9 Northeast volcanogenic massive sulphide ("VMS") target and the Lower Mitchell and Vein Zone West vein-style copper-gold+/-zinc targets (refer to press release "Golden Spike Commences 2025 Exploration Program at Gregory River" dated July 8, 2025).

Drilling was completed by Majors Contracting Ltd., based in Deer Lake, Newfoundland, using a UTV-mounted Winkie drill rig producing AQ diameter core (27 mm). Drill holes were collared at -45° and drilled to depths ranging between 34 m and 63 m. The Winkie drill is designed as a prospecting tool to explore near-surface prospects and anomalies that, if warranted, can later be followed up with a larger rig capable of deeper holes and larger diameter core.

In addition, the Company completed a grid of soil samples over the Steep Brook North target area, which is high-priority segment of the Gregory River VMS-Target Corridor that occurs immediately north of the Steep Brook target and has seen very limited amounts of historical exploration. Significant portions of the area are covered by overburden with limited amounts of outcrop exposure, making soil sampling a good first pass exploration tool to evaluate new target areas. Soil samples were collected over a northeast oriented grid, covering an area of approximately 2.6 km by 2.0 km. A total of 623 soil samples were collected over the grid on 200 m spaced lines with 50 m sample spacing along each line. Soil samples were collected using a hand soil auger from the B-horizon. Soil samples were placed in kraft soil sample bags and all associated data for each sample location was recorded, along with a photograph of the sample.

The final Winkie drill holes have been logged and samples collected, and the final batches of core samples have been shipped to Eastern Analytical Laboratory in Springdale Newfoundland, along with all of the soil samples. All samples will be analysed for gold by 30 g fire assay with an AA finish and a 34-element ICP suite of elements. The Company has incorporated a quality assurance/quality control ("QA/QC") program during the Winkie drill hole sampling, which includes the regular insertion of Company standards (commercially purchased certified reference material), and coarse blanks. Duplicate soil samples were collected during the soil sampling program at an approximate frequency of 5%.

Analytical results will be released once received and reviewed by the Company's technical team. The Company is anticipating that all drill and soil results will be available by October.

The Company is planning to return to the Property later this fall to complete additional prospecting and rock/soil sampling over several key target areas that are accessible by ATV trails. The areas to be explored are being determined by the Company's exploration team and will be reported when the program is initiated.

Qualified Person

The scientific and technical information in this news release has been reviewed and approved for disclosure by Mr. Robert Cinits, P.Geo, a Director of the Company and a "Qualified Person" within the meaning of National Instrument 43-101 - Standards of Disclosure for Mineral Projects.

About Golden Spike

Golden Spike Resources Corp. (CSE: GLDS) (OTCQB: GSPRF) (FSE: L5Y) is a Canadian mineral exploration company focused on identifying, acquiring and unlocking value in mineral opportunities in Canada and other low-risk jurisdictions. The Company currently holds 100% interest in the 5,175-hectare Gregory River Property in Newfoundland, strategically centered over an approximate 11-kilometre-long stretch of the Gregory River VMS-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 ±gold vein structures. 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.

For further information, please contact: Keith Anderson, President, Golden Spike Resources Corp. Tel: 604-786-7774, Email: kanderson7774@gmail.com

Website: https://www.goldenspikeresources.com

ON BEHALF OF THE BOARD OF DIRECTORS

Keith Anderson

Golden Spike Resources Corp.
830 - 1100 Melville St.,
Vancouver, BC, V6E 4A6
+1 (604) 786-7774
info@goldenspikeresources.com
www.goldenspikeresources.com

"Neither the Canadian Securities Exchange (the "CSE") nor its Regulation Services Provider (as that term is defined in policies of the CSE) accepts responsibility for the adequacy or accuracy of this release."

Cautionary Note Regarding Forward-Looking Statements

This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" occur.

Additionally, forward-looking information involve a variety of known and unknown risks, uncertainties and other factors which may cause the actual results to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: the volatility of global capital markets, political instability, unanticipated costs, risks relating to the extent and duration of the conflict in Eastern Europe and its impact on global markets, the lack of availability of capital and financing, general economic, market or business conditions, adverse weather conditions, failure to maintain all necessary government permits, approvals and authorizations, failure to maintain community acceptance (including First Nations), increase in costs, litigation, failure of counterparties to perform their contractual obligations, failure of the exploration program, including the recent IP survey and the recent drilling program to result in the discovery of significant precious and/or base metal mineralization, and those risks, uncertainties and factors set forth in the Company's disclosure record under the Company's profile on SEDAR+ at www.sedarplus.ca . Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information contained herein. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement or forward-looking information disclosed herein, except in accordance with applicable securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/264872

FAQ

What is the scope of GSPRF's 2025 drilling program at Gregory River?

Golden Spike completed eight shallow drill holes totaling 423.7 meters using a UTV-mounted Winkie drill rig, targeting the Lode 9 Northeast VMS target and the Lower Mitchell and Vein Zone West vein-style copper-gold targets.

How many soil samples did Golden Spike collect at Gregory River in 2025?

The company collected 623 soil samples over a 2.6 km by 2.0 km grid at the Steep Brook North target area, with samples taken every 50 meters along 200-meter spaced lines.

When will GSPRF release the Gregory River exploration results?

Golden Spike expects to receive and release all drill and soil sample results by October 2025.

What are Golden Spike's next exploration plans for Gregory River?

The company plans to return to the property later in fall 2025 to complete additional prospecting and rock/soil sampling over several key target areas accessible by ATV trails.

What type of analysis will be performed on GSPRF's Gregory River samples?

Samples will be analyzed for gold by 30g fire assay with AA finish and undergo a 34-element ICP suite analysis at Eastern Analytical Laboratory in Springdale, Newfoundland.