Goldsky Resources Closes Barsele Gold Project transaction and consolidates 100% ownership

Goldsky Resources Corp. has officially closed the acquisition of the remaining 55% interest in the Barsele Gold Project in Sweden from Agnico Eagle Sweden AB, achieving 100% ownership. The transaction consideration includes a US$20 million cash payment, the issuance of approximately 75.5 million common shares to Agnico Eagle, and a 2% net smelter return (NSR) royalty granted to Agnico. Goldsky also assumed an existing 2% NSR royalty on Barsele held by Orex Minerals Inc.

Agnico Eagle receives customary investor rights, including participation, top-up, board nomination, demand, and piggy-back registration, and will hold approximately 32.5% of Goldsky's post-closing shares, becoming a Control Person under TSXV policies. A 3% finder's fee, valued at approximately C$6.8 million, was paid to Nuvolari Capital Limited in shares. Additionally, CEO Russell Bradford received 468,550 shares at C$3.20 per share to satisfy employment agreement conditions. All consideration and finder shares carry a four-month hold period.

Management confirms that exploration and exploitation permits are in good standing, with some nearing expiry but remaining renewable pending substantial exploration work. The company plans to launch one of the largest drilling campaigns ever on the Barsele licence, integrating the former Agnico Sweden exploration and environmental team.

Goldsky Resources Corp. (GSKR) closed its acquisition of Barsele, a move fully anticipated and priced into the stock following the definitive agreement in January 2026 and shareholder approval in April 2026. The transaction consolidates control over a tier-one Nordic asset and was executed exactly as previously disclosed.

The deal involved the issuance of approximately 75.5 million shares and a finder’s fee of roughly 2.6 million shares, both of which were already factored into the market’s valuation. The US$20 million cash outflow reduces the company’s liquidity from C$86.1 million to approximately C$66.1 million. While this balance remains comfortable, it shortens the cash runway and increases reliance on future equity markets or strategic partnerships. No new operational surprises or valuation inflection points are introduced, and the market reaction is expected to be muted as the news represents routine transaction execution.

Goldsky Resources Corp. (GSKR) is a mineral explorer focused on gold and cobalt projects in Sweden and Finland. Its flagship asset is the Barsele Gold Project in Sweden, where a ~25,000-hectare license sits on the Gold Line Belt, featuring 320,781 oz Indicated and 1.83 Moz Inferred gold resources. Infrastructure for the project includes road, rail, and hydro-power access.

The company also holds secondary assets, including the Rajapalot Gold-Cobalt Project in Finland with 867 koz Au and 4.3 kt Co inferred resources, and Paubäcken in Sweden, which has shown high-grade orogenic gold intercepts. Additionally, Goldsky recently acquired the Elemental Royalty Nordic Business Unit infrastructure. The company’s strategy involves transitioning from exploration to development by advancing resource definition, environmental assessments, and economic studies (PEA) across a consolidated Nordic portfolio.