Goldsky reports intercepts from first infill drill hole at Skirasen, Barsele - 75.3 m at 4.61 g/t and 87 m at 2.58 g/t gold

Goldsky Resources Corp. (GSKR) has released the first assay results from its 25,000 m Barsele programme, which was launched on 22 September 2026. The initial data comes from hole SKI26001 at the Skiråsen zone, marking the first of four Skiråsen holes completed. The purpose of this shallow infill drilling is to test the continuity of modelled zones in the upper 270 m, supporting the conversion of Inferred to Indicated resources ahead of an updated Mineral Resource estimate planned for 2027.

The hole returned two primary intervals. The upper interval measured 87.00 m at 2.58 g/t Au from 71.00 m, with a 30 g/t top-cut grade of 2.36 g/t. The lower interval measured 75.30 m at 4.61 g/t Au from 200.00 m, with a 30 g/t top-cut grade of 3.44 g/t. This lower interval continues to the last sample assayed at 275.30 m, which returned 0.85 g/t, with results for the section from 275.30–330.90 m pending. True widths are not known for these intervals.

A third, "overall" composite is quoted at 204.30 m at 2.96 g/t from 71.00 m, using a 2.43 g/t cut. This composite utilizes a 0.3 g/t cut with up to 6 m of consecutive internal waste, and 35 of 206 samples (35.0 m) fell below the cut-off.

The following sub-intervals, representing contiguous samples ≥5 g/t over ≥1 m, were identified:

• 2.00 m at 27.26 g/t from 143.00 m (17.91 cut)
• 2.00 m at 63.76 g/t from 233.00 m (19.41 cut)
• 4.00 m at 8.62 g/t from 260.00 m
• 1.00 m at 12.80 g/t from 110.00 m

Additional intercepts outside the high-grade wireframes, as listed in Table 1, include:

• 5.00 m at 17.02 g/t from 35.00 m (estimated true width 2.3 m; 7.38 g/t cut)
• 12.00 m at 1.81 g/t from 164.00 m
• 15.00 m at 0.67 g/t from 181.00 m

The cut-off for the Skiråsen domain, derived from the InnovExplo resource model, is 0.3 g/t with a minimum 1 m thickness and a maximum 2 m internal waste allowance. The top cut is set at 30 g/t.

Assay coverage for hole SKI26001 includes 257 of 314 samples. Pending samples lie within 2 m of the 200.00–275.30 m composite. Results are pending for 22 of 28 holes collared across the project, comprising Central (15), Avan (7), and Skiråsen (6). As of 6 November, 25 holes (8,783 m) are complete, with three rigs currently turning.

The Barsele resource context quoted by the company stands at Indicated 7.88 Mt at 1.27 g/t Au (0.32 moz) and Inferred 28.75 Mt at 1.98 g/t Au (1.83 moz).

Goldsky Resources Corp. (GSKR) is a C$781M equity, carrying an enterprise value of approximately C$725M on C$56.4M cash as of 30 June 2026. The company holds roughly 2.15 moz Au at Barsele, plus 0.87 moz Au and 4.3 kt Co at Rajapalot, and an Au-Ag resource at Oijärvi. Per-hole materiality is low by construction; the equity is priced on the aggregate resource base, the 2027 resource update, and the pending 2027 PEA, rather than on a single infill assay.

The purpose of the latest drilling programme, as stated by the company, is infill for Inferred-to-Indicated conversion in the upper 270 m. The reference bar for judging results is the resource itself, rather than previous headline holes. There are no prior Barsele assay intercepts in the provided history. The resource anchors the Indicated grade at 1.27 g/t and the Inferred grade at 1.98 g/t. Pre-existing Skiråsen high-grade wireframes already carry a 30 g/t top cut from the 2019/2020 InnovExplo model. Rajapalot's October results, which included 285.6 g·m at 16.46 g/t, relate to a different project and are not the comparator.

The stock is not priced for Barsele drilling to repeat previous results, as Barsele has produced no assays under Goldsky's ownership until today. The 22 September programme launch moved the shares only from about C$3.20 to C$3.44 before they resumed falling. The de-rating from the C$4.33 May high to C$2.48 on 3 November was driven by broader market and funding factors, not by Barsele assays.

At 2.58 and 4.61 g/t over 30–45 m likely true width, SKI26001 sits at or above resource grade over meaningful width inside the zone being converted. This serves as a confirmation of the model, plus several metres of mineralisation outside the modelled high-grade wireframes. This includes the whole 35.00–40.00 m, 5.00 m at 17.02 g/t interval, and much of the deeper interval, which could translate into local resource growth.

The drilling does not enlarge the system, open a new zone, reset the scale case, or de-risk metallurgy at Skiråsen. The company states the effect on the Mineral Resource will be known only when the full programme is modelled, in 2027. The shares enter the release having already rallied four sessions off the 3 November low, moving from C$2.48 to C$2.96. 22 of 28 holes remain unassayed, and the market will wait for SKI26002–004 to see whether 30–45 m true widths are repeatable.

Goldsky Resources Corp. (TSXV: GSKR; FNSE: GSKR SDB; OTCQX: GSKRF; FRA: HEG0) was formed following the December 2025 court-approved acquisition of Mawson Finland by First Nordic Metals and a subsequent rebrand. The company is led by CEO Russell Bradford, with Peter Breese serving as Chairman, and maintains dual listings in Canada and the Nordic region.

The company’s flagship asset is the Barsele project, a 100% interest located in Västerbottens Län, Sweden. The property sits within an approximately 80,000-hectare district land package on the Gold Line greenstone belt, covering roughly 25,000 hectares. According to an InnovExplo technical report effective February 21, 2019, and amended in December 2020, the deposit contains an Indicated resource of 7.88 million tonnes at 1.27 g/t Au for 0.32 moz, and an Inferred resource of 28.75 million tonnes at 1.98 g/t Au for 1.83 moz. Agnico Eagle consolidated the asset in June 2026 for US$20 million in cash, 75,509,577 shares, a 2% net smelter return (NSR), and an assumed 2% Orex NSR, resulting in a total royalty load of 4%. Agnico now holds approximately 32.5% of the company.

In central Finland, Goldsky holds a 100% interest in the Rajapalot project. An SRK preliminary economic assessment (PEA) effective December 19, 2023, reported an Inferred resource of 9.78 million tonnes at 2.8 g/t Au and 441 ppm Co, containing 867,000 ounces of gold and 4,311 tonnes of cobalt. The company also owns the Oijärvi project in Finland, which includes the Kylmäkangas Au-Ag deposit—the largest known gold occurrence on that belt—and a district-scale land position.

In Sweden, the Paubäcken / Aida project represents the company’s greenfield exploration leg. A 2025 discovery-stage programme drilled 39 holes, identifying mineralization in 33, including an intercept of 26.4 meters at 2.80 g/t Au. Several newly defined zones, including Radames and Amneris, were reported open in all directions. The company also holds early-stage exploration licenses for the Storjuktan and Klippen projects in Sweden, which currently have no reported resources.

According to the last filed statements, the company held C$56.4 million in cash at June 30, 2026, down from C$86.1 million at March 31, 2026. Total assets stood at C$430.5 million, including C$371.6 million in exploration and evaluation assets, against total liabilities of C$2.6 million. For the first half of 2026, the company reported a net loss of C$33.8 million, which included C$23.7 million in non-cash share-based compensation, and an operating cash outflow of C$10.2 million. With 263.9 million shares outstanding and a book value of C$1.62 per share, the equity trades at approximately 1.8 times book value. The company has no revenue and no going-concern flag.