Goldsky to Become 100% Owner of Barsele Gold Project via Acquisition of Agnico Eagle's 55% Interest Agnico to receive cash, Goldsky shares and NSR royalty in transaction Agnico to become ~32.5% shareholder in Goldsky on a pro forma basis
Goldsky to Become 100% Owner of Barsele
Gold Project via Acquisition of Agnico Eagle's
55% Interest
Agnico to receive cash, Goldsky shares and NSR royalty in transaction
Agnico to become ~32.5% shareholder in Goldsky on a pro forma basis
VANCOUVER, BC
,
Jan. 28, 2026
/CNW/ -
GOLDSKY RESOURCES CORP.
(TSXV: GSKR)
(FNSE: GSKRSDB) (OTCQX: GSKRF) ("
Goldsky
" or the "
Company
") is pleased to announce that
it has entered into a definitive agreement dated
January 28, 2026
(the "
Agreement
") with Agnico
Eagle Sweden AB ("
Agnico Sweden
"), a wholly-owned subsidiary of Agnico Eagle Mines Limited
("
Agnico Eagle
", and together with Agnico Sweden, "
Agnico
"), pursuant to which Goldsky has
agreed to acquire the remaining 55% interest in the Barsele Gold Project ("
Barsele
") in
Sweden
from Agnico (the "
Transaction
"), resulting in Goldsky consolidating 100% ownership of Barsele.
The Transaction will be effected through the acquisition by Goldsky of Agnico Sweden's 55%
interest in Gunnarn Mining AB ("
Gunnarn
"). Gunnarn currently owns and operates Barsele pursuant
to a joint venture agreement between Goldsky and Agnico Sweden, which will be terminated in
connection with the Transaction. Consideration for the Transaction includes a cash payment of
US$20,000,000
and 75,509,577 common shares of Goldsky (the "
Consideration Shares
"). In
addition, Goldsky will grant Agnico Sweden a 2% net smelter return royalty on Barsele (the "
NSR
").
On closing of the Transaction, Goldsky will hold a 100% interest in Gunnarn.
Barsele Highlights and Strategic Rationale
Location
. Barsele is located in the mining district of Västerbottens Län in northern
Sweden
,
about 600 km north of
Stockholm
, covering roughly 25,000 hectares within the Fennoscandian
Shield.
Indicated and Inferred Mineral Resources
. Indicated Mineral Resource: 7.88 Mt grading 1.27
g/t Au containing 320,781 oz Au; Inferred Mineral Resource: 28.75 Mt grading 1.98 g/t Au
containing 1.83
Moz Au
.
1
Existing Infrastructure
. Barsele is well supported with excellent access by road, rail and
hydro-power, a qualified workforce and services in an active mining region of
Sweden
.
Strategic control consolidating Goldsky's existing district-scale license across the Gold
Line Belt
. Barsele is located in the centre of Goldsky's 100% owned existing exploration license
area, which combined with Barsele, total approximately 80,000 hectares on
Sweden's
Gold Line
greenstone belt.
Agnico's
proforma
interest in Goldsky
. Following completion of the Transaction, Agnico will
own ~32.5% of Goldsky's common shares. Agnico and Goldsky will enter into a transition
agreement pursuant to which Agnico will agree to provide certain support to Goldsky for nine
months following closing.
Russell Bradford
, President and CEO of Goldsky
, states: "
The acquisition of the remaining 55%
interest in the Barsele project from Agnico is a transformational milestone in Goldsky's history and
future growth. We now have 100% control of what we believe has the potential to become a tier
one gold project in a world class mining jurisdiction in
Sweden
. Under Agnico, the Barsele project
has been developed using best practices in technical and environmental compliance as well as
community engagement, and at Goldsky we are committed to continue with these practices to
ensure the Barsele project is developed responsibly for all our stakeholders as part of our vision to
become the next major Nordic gold developer.
Following our successful
C$80m
fundraising in
September 2025
, Goldsky is well resourced to
significantly increase the development of this world class Nordic gold project. May I take this
opportunity to sincerely thank everyone who was involved in making this transition a reality."
_______________________________
1
InnovExplo Inc., February 21, 2019, NI 43-101 Technical Report and Mineral Resource Estimate for the Barsele Property filed under Goldsky's SEDAR+ profile at
www.sedarplus.ca
.
Investor Conference Call: Today
11:00am EST
(
Toronto
) /
17:00 CET
(
Sweden
)
Russell Bradford
, President and CEO of Goldsky will be hosting a conference call and Q&A, today
at
11:00am EST
. Analysts and Investors can register at:
https://stream.brrmedia.co.uk/broadcast/69779b2a82f7350013ba59f0
.
A presentation providing further detail on the transaction is available on the Company's website at:
https://goldskyresources.com/corporate-presentation
.
In addition, a video interview with
Russell Bradford
, CEO, discussing the transaction is also available
at:
https://goldskyresources.com/media/
.
Transaction Details
Pursuant to the Agreement, Goldsky will acquire Agnico Sweden's 55% interest in Gunnarn for
US$20,000,000
in cash, 75,509,577 Consideration Shares, and the grant of a 2% NSR on
production from Barsele. The number of Consideration Shares was calculated using a price of
C$2.64
per Consideration Share, which is equal to the 20-day VWAP of Goldsky's common shares
prior to entering into the Agreement and equates to a value of approximately
C$199,345,283
. The
Consideration Shares will be subject to a hold period of four months and one day from the date of
issuance. The 2% NSR may be repurchased by Goldsky for
US$50,000,000
at any time prior to two
years following the achievement of commercial production at Barsele. In addition, Goldsky will
assume Agnico's obligations under an existing 2% net smelter return royalty (the "
Orex NSR
") on
Barsele in favour of Orex Minerals Inc., which may be repurchased at any time by Goldsky for
US$5,000,000
. Agnico is arm's length to Goldsky and the Transaction was negotiated on an arm's
length basis.
On closing of the Transaction, Goldsky and Agnico Eagle will enter into an investor rights agreement
providing Agnico Eagle with certain participation, top-up and board nomination rights, as well as
demand and piggy-back registration rights, all on customary terms.
The policies of the TSX Venture Exchange (the "
TSXV
") require shareholder approval where a
transaction creates a shareholder that holds or controls 20% or more of an issuer's shares
(a "
Control Person
"). Prior to entering into the Agreement, Agnico owned 7,353,291 common
shares of Goldsky, representing approximately 4.2% of the issued and outstanding common shares
of Goldsky on a non-diluted and partially-diluted basis. On closing of the Transaction, Agnico Eagle
is expected to own approximately 82,862,868 common shares of Goldsky, representing
approximately 32.5% of the common shares of Goldsky on a non-diluted and partially-diluted basis,
and therefore, is expected to be a Control Person following closing. As a result, the Company
intends to hold a special shareholder meeting (the "
Meeting
"
)
in
March 2026
to seek approval of the
creation of a new Control Person from disinterested shareholders. In connection with the Meeting,
Goldsky will prepare a management information circular (the "
Circular
") which will be made
available to shareholders of Goldsky in due course and which will include details on the Transaction
(including with respect to Agnico Eagle becoming a Control Person of the Company). A copy of the
Circular will be filed on Goldsky's SEDAR+ profile at
www.sedarplus.ca
.
Closing of the Transaction is expected to occur during Q2, 2026 and no later than
June 30, 2026
and is subject to the receipt of all necessary shareholder, regulatory and other approvals (including
that of the TSXV), and the satisfaction of other customary closing conditions.
Goldsky has agreed to pay Nuvolari Capital Limited, an arm's length party, a corporate advisory fee
in connection with completion of the Transaction, equal to 3% of the aggregate value of cash
consideration and Consideration Shares to be paid and issued, as applicable to Agnico, for a finder's
fee with an aggregate value of approximately
C$6,797,559
. The finder's fee is subject to approval of
the TSXV and, if approved, will be paid by way of issuance of 2,574,833 common shares of Goldsky
based on a deemed price of
C$2.64
per share, which is equal to the 20-day VWAP of the Goldsky
shares immediately prior to announcement of the Transaction.
Qualified Persons
The technical and scientific information in this news release relating to Goldsky was reviewed,
verified and approved by
Benjamin Gelber
, a practicing Professional Geologist (P.Geo) registered
with Engineers & Geoscientists British Columbia (EGBC, Licence No. 33258), current VP Exploration
of Lithium Africa Resources Corporation, and former VP Exploration and Chief Technical Advisor of
Goldsky, is a Qualified Person as defined in NI 43-101 and has reviewed and approved the scientific
and technical information within this news release.
Benjamin Gelber
is a consultant of Goldsky and
considered independent of Goldsky under NI 43-101.
About Goldsky Resources:
Goldsky Resources is a Canadian-based gold exploration company, consolidating assets in
Sweden
and
Finland
, with a vision to create
Europe's
next gold camp. The Company's flagship asset is the
Barsele gold project in northern
Sweden
. Immediately surrounding the Barsele project, Goldsky
resources is the 100%-owner of a district-scale license position comprised of two additional projects
(Paubäcken, Storjuktan), which combined with Barsele, total approximately 80,000 hectares on the
Gold Line greenstone belt. Additionally, in northern
Finland
, Goldsky is the 100%-owner of a district-
scale position covering the entire underexplored Oijärvi greenstone belt, including the Kylmäkangas
deposit, the largest known gold occurrence on this belt. Goldsky is also the 100%-owner of the
Rajapalot gold cobalt project situated in
Finland
, which has an Inferred Mineral Resource of 9,780kt
containing 867 koz Au @ 2.8 g/t Au & 4.3 kt Co @ 441 ppm Co (NI 43-101 Technical Report On A
Preliminary Economic Assessment Of The Rajapalot Gold-Cobalt Project,
Finland
. Effective Date:
19 December 2023
. Prepared for Mawson Finland Ltd by SRK Consulting (UK) LTD. SRK Qualified
Person Christopher Bray Beng (Mining), MAusIMM(CP),
Ove Klaver
, MSc (Geology), Eur.Geol.,
Eemeli Rantala
, MSc (Geology), P.Geo.,
Craig Brown
, B.E. (Chem), GradDipGeosci, FAusIMM,
Mathieu Gosselin
, Beng (Mining), P.Eng.).
ON BEHALF OF THE BOARD OF DIRECTORS
Russell Bradford
CEO & Director
For further information contact:
Investor Relations
The information in this release is subject to the disclosure requirements of Goldsky Resources
pursuant to the EU Market Abuse Regulations. This information was submitted for publication,
through the agency of the contact person set out above, on January 28, 2026, at
7:30 AM Eastern
Time
.
The Company's certified adviser on the Nasdaq First North Growth Market is Augment Partners AB,
, +46 8-604 22 55
Follow Goldsky Resources:
Twitter:
https://x.com/goldskyir
Youtube:
https://www.youtube.com/@goldskyir
LinkedIn:
https://www.linkedin.com/company/goldskyir
Facebook:
https://www.facebook.com/goldskyir
Instagram:
https://www.instagram.com/goldskyir
Neither 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
news release. No securities regulatory authority has reviewed or approved of the contents of this
news release.
Forward-Looking Information
This news release contains "forward-looking information" within the meaning of applicable Canadian
securities legislation. Forward-looking information includes statements that relate to future events or
future performance and are often, but not always, identified by words such as "anticipate", "expect",
"intend", "plan", "estimate", "believe", "potential", "may", "will", "should", "could", or similar
expressions. All statements, other than statements of historical fact, included herein, including,
without limitation, statements regarding Agnico Eagle's expected ownership interest in Goldsky on
closing of the Transaction; statements regarding the anticipated benefits of the Transaction, the
potential of Barsele, the terms, conditions and potential completion of the Transaction (including the
expected closing date), the terms of the NSR and the re-purchase rights thereof, the Company's
growth prospects and strategic objectives, and any other statements regarding future plans,
expectations, estimates, assumptions or projections, constitute forward-looking information. Although
Goldsky believes that the expectations reflected in such forward-looking statements and/or
information are reasonable, undue reliance should not be placed on forward-looking statements
since the Company can give no assurance that such expectations will prove to be correct. These
statements involve known and unknown risks, uncertainties and other factors that may cause actual
results or events to differ materially from those anticipated in such forward-looking statements,
including the risks, uncertainties and other factors identified in the Company's periodic filings with
Canadian securities regulators, and assumptions made with regard to: that the parties will close the
Transaction and enter into the agreement contemplated by the Agreement; ability to obtain
shareholder, TSXV and regulatory approvals; availability of financing; assumptions regarding
commodity prices, exploration success, costs, and general business and economic conditions.
Forward-looking statements are subject to business and economic risks and uncertainties and other
factors that could cause actual results of operations to differ materially from those contained in the
forward-looking statements. Important factors that could cause actual results to differ materially
from the Company's expectations include risks that the parties may not close the Transaction; risks
associated with the business of Goldsky; risks related to exploration and potential development of
Barsele; business and economic conditions in the mining industry generally; fluctuations in commodity
prices and currency exchange rates; uncertainties relating to interpretation of drill results and the
geology, continuity and grade of mineral deposits; the need for cooperation of government agencies
and indigenous groups in the exploration and development of Barsele and the issuance of required
permits; the need to obtain additional financing to develop Barsele and uncertainty as to the
availability and terms of future financing; the possibility of delay in exploration or development
programs and uncertainty of meeting anticipated program milestones; uncertainty as to timely
availability of permits and other governmental approvals; and other risk factors as identified in
Goldsky's filings with Canadian securities regulators on SEDAR+ (available at
www.sedarplus.ca
).
Various assumptions or factors are typically applied in drawing conclusions or making the forecasts
or projections set out in forward-looking information. Those assumptions and factors are based on
information currently available to Goldsky. The forward-looking information contained in this news
release is made as of the date hereof and Goldsky does not undertake any obligation to update or
revise any forward-looking information, whether as a result of new information, future events or
otherwise, except as required by applicable securities laws or Nasdaq First North Growth Market
Rulebook for Issuers of Shares. The foregoing statements expressly qualify any forward-looking
information contained herein.
SOURCE
Goldsky Resources Corp.
View original content to download multimedia:
http://www.newswire.ca/en/releases/archive/January2026/28/c6277.html
%SEDAR: 00037711E
CO: Goldsky Resources Corp.
CNW 07:30e 28-JAN-26