Golden Sky Minerals Corp. Receives Exchange Approval, Provides Additional Disclosure on NSR Terms in Boliden Option and Joint Venture Agreement

Rhea-AI Summary

Golden Sky Minerals (OTC: LCKYF / TSXV: AUEN) announced TSX Venture Exchange approval of its Option and Joint Venture Agreement with Boliden Minerals Canada Ltd. Under the Agreement, Boliden can earn up to 80% of the Rayfield copper-gold property by paying CDN $1,000,000 in cash over five years and funding up to CDN $19,000,000 in exploration over six years.

After the earn-in a joint venture will form and Rayfield will be combined with Boliden's Gjoll property. If any party is diluted below 10%, its remaining interest converts to a 1.0% NSR on the combined Rayfield-Gjoll property, subject to a CDN $15,000,000 aggregate royalty cap. No NSR is currently outstanding.

Positive

• Boliden can earn up to 80% interest in Rayfield
• Earn-in funding of up to CDN $19,000,000 for exploration
• Upfront cash payments totaling CDN $1,000,000 over five years
• Combines Rayfield with Boliden's adjoining Gjoll property

Negative

• Dilution below 10% converts interest into a 1.0% NSR
• Aggregate NSR payout capped at CDN $15,000,000 which may limit upside
• NSR arises on future dilution and could reduce future JV returns

Vancouver, British Columbia--(Newsfile Corp. - November 27, 2025) - Golden Sky Minerals Corp. (TSXV: AUEN) (OTC Pink: LCKYF) ("Golden Sky" or the "Company") is pleased to announce that it has received approval from the TSX Venture Exchange (the "Exchange") for its Option and Joint Venture Agreement (the "Agreement") with Boliden Minerals Canada Ltd. ("Boliden") and, as requested by the Exchange, provides the following supplemental disclosure regarding the net smelter returns royalty (the "NSR").

This news release is issued further to the Company's news releases dated September 3, 2025 found here, and November 17, 2025 found here, which described the key terms of the Agreement and the approval of the Agreement by disinterested shareholders.

Under the Agreement, Boliden may earn up to an 80 percent interest in the Rayfield copper gold property in south central British Columbia by making cash payments totaling CDN $1,000,000 over five years and funding up to CDN $19,000,000 in exploration expenditures over six years. Upon completion of the earn in, a joint venture will be formed, and the Rayfield Property will be combined with Boliden's adjoining Gjoll property.

In connection with the joint venture, if a party's interest in the joint venture is reduced to below 10 percent, its remaining interest will automatically convert into a 1.0 percent net smelter returns (NSR) royalty on the Rayfield Gjoll property, subject to a maximum aggregate royalty payable of CDN $15,000,000.

The NSR is not an upfront or current obligation of the Company. It only arises if a joint venture participant is diluted below a 10 percent interest. At present, no NSR is outstanding or payable to any party under the Agreement.

This transaction is arm's length to the Company and no finder's fees are being paid.

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. Golden Sky's objective is to create value for shareholders through the discovery and development of world-class mineral deposits. The company was incorporated in 2018 and is headquartered in Vancouver, British Columbia, Canada.

On behalf of the board of Directors

John Newell, President & CEO

Contact Information:
Golden Sky Minerals Corp.
Phone: (604) 512-2329
Email: info@goldenskyminerals.com
Website: www.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.

Cautionary Note Regarding Forward-Looking Information

This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward looking information includes statements regarding final acceptance of the TSX Venture Exchange, the ability of Boliden to complete the earn in and fund exploration expenditures, the formation and operation of the joint venture, the potential application of the NSR, and the exploration and development plans for the Rayfield Gjoll property and the Company's other projects.

Forward-looking information is based on a number of assumptions that, while considered reasonable by the Company at the date of this news release, are subject to known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those expressed or implied. These risks and uncertainties include, among others, risks relating to exploration, development and mining activities, commodity prices, regulatory approvals, title, financing, and general economic conditions, as well as the risks described in the Company's continuous disclosure filings available on SEDAR Plus at www.sedarplus.ca.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/276209

FAQ

What did Golden Sky (LCKYF) announce on November 27, 2025 regarding Boliden?

Golden Sky said the TSX Venture Exchange approved its Option and Joint Venture Agreement with Boliden, allowing Boliden to earn up to 80% of Rayfield.

How much must Boliden spend to earn an 80% interest in Rayfield (LCKYF)?

Boliden must pay CDN $1,000,000 in cash over five years and fund up to CDN $19,000,000 in exploration over six years.

What happens if a joint venture partner is diluted below 10% on the Rayfield‑Gjoll JV?

Any remaining interest automatically converts into a 1.0% NSR on the Rayfield‑Gjoll property, subject to a CDN $15,000,000 aggregate cap.

Is any NSR currently payable to Golden Sky (LCKYF)?

No. The company stated no NSR is outstanding or payable at present.

Will Golden Sky pay finder’s fees for the Boliden transaction?

No. The company said the transaction is arm’s length and no finder's fees are being paid.