Golden Sky shareholders OK option, JV deal with Boliden

Executive Summary

• Golden Sky Minerals Corp. shareholders approved the previously announced option and joint venture agreement with Boliden Mineral Canada Ltd. at the annual and special meeting held on November 12, 2025.
• The approval was decisive, with over 95% of disinterested votes cast in favor, ratifying the definitive agreement dated September 3, 2025.
• The transaction allows Boliden to earn an 80% interest in Golden Sky’s Rayfield copper-gold porphyry property by financing $20 million in exploration expenditures, while combining it with Boliden’s adjacent Gjoll property to create a 90,000-hectare district-scale exploration opportunity.

Key Details

• Transaction Structure: Boliden has the option to earn an 80% interest in the Rayfield property. Upon completion of the earn-in, a joint venture will be formed.
• Earn-In Requirements: Boliden must finance $20 million in exploration expenditures over staged milestones.
• Ownership Dynamics:
  • Golden Sky retains 100% ownership of Rayfield until Boliden exercises the option and fully finances the $20 million.
  • Upon completion, Golden Sky retains a free-carried 20% interest through the discovery phase.
• Asset Combination: The agreement combines Golden Sky’s Rayfield property with Boliden’s 100%-owned Gjoll property.
• Project Scope: The combined land package spans approximately 90,000 hectares in the Quesnel trough, south-central British Columbia.
• Exploration History & Plans:
  • Airborne geophysics and geochemical surveys were completed in 2025.
  • A 2026 exploration program is planned, including geophysical/geochemical surveys, geological mapping, refined drill targeting, and an initial drilling campaign.
• Strategic Rationale: The partnership aims to advance the asset with reduced financial risk, minimal equity dilution, and potential for a material rerating akin to major copper-gold porphyries like New Afton or Mount Polley.
• Regulatory Status: Completion remains subject to final acceptance by the TSX Venture Exchange.

Notable Quotes

• John Newell, President and CEO: "We are thrilled to see such resounding endorsement from our shareholders for this transformative partnership. With over 95-per-cent approval from disinterested shareholders, this milestone underscores the strong potential of the Rayfield-Gjoll project. Boliden's commitment positions us to unlock a significant copper-gold discovery in one of British Columbia's most prospective mining belts, all while derisking our path forward and enhancing shareholder value by minimizing dilution."