Golden Sky and Boliden Sign $20 Million Earn-In Agreement for the Combined Rayfield-Gjoll Copper-Gold Property, South-Central British Columbia
Golden Sky and Boliden Sign $20 Million Earn-In Agreement for the Combined Rayfield-Gjoll
Copper-Gold Property, South-Central British Columbia
Vancouver, September 3, 2025 – Golden Sky Minerals Corp. ( TSX-V: AUEN.V) (“Golden Sky” or “T he
Company”) is pleased to announce a Definitive A greement dated August 29, 2025 with Boliden Mineral
Canada Ltd., a wholly owned subsidiary of Boliden AB (“Boliden”). Pursuant to the Definitive Agreement,
Boliden and Golden Sky will collaborate in the development of Golden Sky’s wholly-owned copper-gold
porphyry Rayfield Property and Boliden’s wholly-owned Gjoll Property.
Initially, Boliden will be granted the right to earn an eighty percent (80%) interest (the “Earn-In Option”)
in the Rayfield Property by funding up to C$20 million in staged exploration expenditures and cash
payments over a six -year period. Following exercise of the Earn -In Option, the Rayfield Property will be
contributed to a joint venture, along with Boliden’s Gjoll Property, under which Golden Sky will control an
initial twenty percent (20%) interest. The contiguous Rayfield and Gjoll properties ( see Figures 1 and 2),
located less than 60 km northwest of Kamloops, British Columbia, encompass 87,660 hectares within the
prolific Quesnel Trough, one of Canada’s premier porphyry copper belts. This metallogenic corridor hosts
several major mining operations, including Teck’s Highland Valley Copper Mine, Taseko’s Gibraltar Mine,
New Gold’s New Afton Mine, Hudbay’s Copper Mountain Mine, and Imperial Metals Mount Polley Mine.
The Quesnel Trough is characterized by significant metal endowment and a well -established production
history; however, vast areas remain underexplored by modern, systematic exploration methodologies.
The region benefits from robust infrastructure and all- season access, support efficient exploration and
development activities.
John Newell, President and CEO of Golden Sky Minerals, states : “This partnership is transformational for
Golden Sky. Boliden’s decision to collaborate with us on Rayfield- Gjoll validates the district-scale copper-
gold potential of this project. It allows us to preserve our tight share structure while aggressively advancing
exploration in one of Canada’s most prolific mineral belts.”
TSX-V: AUEN
GOLDEN SKY MINERALS CORP.
2110 -650 West Georgia Street
Vancouver, British Columbia
Canada, V6B 4N9
Telephone: 604 568 8807
Facsimile: 604 681 1864
www.goldenskyminerals.com
Rayfield Property Main Target Highlights:
Rayfield Target
• An open-ended ~600 m x ~1,100 m moderate chargeability & resistivity anomaly (2024) is closely
correlated with gold and copper mineralization, both at surface and within historic drillholes (see
June 6, 2024 news release).
• Historic drill holes intersecting the geophysical anomaly show moderate to heavy fracturing with
potassic, clay, epidote and hematite alteration. The overprinted nature of alteration styles suggests
multiple pulses of mineralized fluids occurred during a long-lived porphyry-style system.
• Mineralization is present as primary sulphides (chalcopyrite, bornite, and chalcocite) and as secondary
copper oxides (cuprite and malachite). The primary sulphides most commonly occur as fracture fills
and along quartz veinlet margins and occasionally as interstitial disseminations. Secondary copper
oxides tend to be present within fault zones, fractures, clay gouge, feldspar veinlet margins, and rarely
as disseminations replacing mafic minerals. Native copper is commonly present with the primary
sulphides. The copper grade correlates closely with the degree of fracturing/quartz veining and
provides evidence for higher-grade “cores” at the Rayfield Zone.
Table 1: Select Rayfield historic diamond drillholes (Koffyberg, 2008)
Drillhole ID Grade
DDH 374-01 0.08% Cu over 151 m incl. 0.13% Cu over 17.9 m
DDH 374-03 0.09% Cu over 167 m incl. 0.18% Cu over 43.4 m
DDH 374-06 0.13% Cu over 164 m
DDH 374-08 0.09% Cu over 151 m incl. 0.14% Cu over 12 m
DDH 374-12 0.11% Cu over 150 m
DDH 374-13 0.12% Cu over 240 m incl. 0.14% Cu over 96 m
DDH 374-16 0.14% Cu over 66 m
DDH 374-20 0.11% Cu over 195 m, incl. 0.195% Cu over 30 m
DDH 374-22 0.11% Cu over 190.5 m, incl. 0.16% Cu over 33 m, incl. 0.19% Cu over 15 m
DDH 784-05 0.13% Cu over 66 m
DDH 784-07 0.08% Cu over 169 m
Gnome Target
• Large-scale ~1.8 km x 1.5 km geochemical soil anomaly (Cu-Au-Zn-As-Mo) (see December 6, 2022
news release)
• ZTEM geophysical survey identified a major resistive anomaly - interpreted as a buried porphyry
system(see July 23, 2025 news release).
• Historical surface sample assays up to 0.22% Cu and 1.02 g/t Au (Morin, 1988).
• Favorable alteration: widespread phyllic and propylitic zones across the target are consistent with
exposure of the upper zone of a preserved porphyry system.
• Historical drill hole 72455 intersected 0.1% Cu over 68 m (Brauset, 1998) near end of hole –
interpreted to be the outer zone of a mineralized porphyry.
• Underexplored with minimal historical drilling.
• Coincident magnetic, gravity & radiometric anomalies aligned with alkalic Cu-Au porphyry signatures
in the Quesnel terrane.
Semlin Target
• Large-scale ~1.4 km x 0.9 km geochemical soil anomaly (Cu-Au-Zn-As-Mo) (see December 6, 2022
news release)
• Located along the edge of a high-resistivity batholith – interpreted to be a favorable porphyry
setting.
• Surface samples assayed up to 0.2% Cu, 135 ppm Mo, 55 ppb Au (2022)
• Dioritic-monzonitic intrusion mapped along edge of geophysical and geochemical anomaly is
associated with disseminated pyrite & quartz veining.
Mowich Target
• Copper-rich float material (Discovery Showing – assays up to 286 g/t Au, 200 g/t Ag, 37.46% Cu)
recovered from a mudslide lies downslope of a potential source area. This indicates the material
may not have been transported far and that a mineralized system may be present to the west (see
February 27, 2023 news release).
• A historical 3- to 4-meter-wide shear zone southeast of the Discovery Showing hosts chalcopyrite,
with minor bornite and chalcocite mineralization in fractures and amygdules within basalt. Cuprite,
native copper, malachite, and crystalline azurite occur in fractures, particularly in the higher
(easternmost) zone. Rock sampling in 2022 yielded assays up to 230 ppb Au, 2.5% Cu, and 16.9 ppm
Mo.
Definitive Agreement
Boliden is granted the right to earn up to an 80% interest in the Rayfield -Gjoll Project by incurring up to
C$20 million in staged exploration expenditures and cash payments to Golden Sky over a six-year period.
Golden Sky will remain the project operator. Upon fulfilling the earn-in, the combined property will form
a joint venture under which Golden Sky will retain a 20% interest and Boliden an 80% interest, with pro -
rata funding obligations thereafter.
The earn-in structure is as follows:
Table 2: Boliden Mineral Canada Ltd. earn-in agreement for the Rayfield-Gjoll property
Figure 1: The ~52,000-hectare Rayfield Cu-Au property is located within the Quesnel Trough, British Columbia’s primary copper-
producing belt. Note: Proven and Probable (P&P), Measured and Indicated (M&I). *Highland Valley: Teck Mineral P&P, M&I,
Inferred Resources Annual Information for February 23, 2022 (Teck.com); New Afton: NI 43-101 Technical Report. Effective Date
December 31, 2024 (newgold.com); Mount Polley: Imperial Metals P&P, M&I, Inferred Resources Reserves and Resources;
Website Information, dated June, 2023 (www.imperialmetals.com); Gibraltar: Taseko Reserves and Resources Website
Information, accessed August 21, 2025; R. M. Weeks et al., The Brenda Mine in Porphyry Copper Deposits of the Calc-Alkalic
Suite Paper 9 of the Porphyry Deposits of Northwestern Cordillera of North America, CIM Special Volume 46, pp 192-200. *Note:
The QP has been unable to verify the information, and that the information is not necessarily indicative to the mineralization on
the Rayfield-Gjoll property.
Figure 2: The combined >87,000-hectare Rayfield-Gjoll Property is located in a highly prospective “gap” in the Quesnel Trough,
where major companies have active mines and are exploring for new Cu-Au porphyry deposits.
References
Brauset, R.U. 1998. Assessment Report on Geological and Geochemical Surveys of the South -East
Quadrant of Gnome. BC Geological Survey Assessment Report 25996.
Koffyberg, A. 2008. Assessment Report on a Diamond Drill Program, Rayfield River Program. BC Geological
Survey Assessment Report 30271.
Morin, J.A. 1988. Geological and Geochemical Report on the Epi Claim Group. BC Geological Survey
Assessment Report 17810.
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 p roperties 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. The company
was incorporated in 2018 and is headquartered in Vancouver, British Columbia, Canada.
More information can be found at the Company’s website at www.goldenskyminerals.com
About Boliden
Boliden contributes to a sustainable future by extracting, producing and recycling metals that are essential
to improve society for generations to come. With care for people and the environment, combined with
experience gathered over a century and cutting -edge technology, our 8,000 employees have achieved
leading productivity and one of the lowest carbon footprints in the industry.
ON BEHALF OF THE BOARD
John Newell, President and Chief Executive Officer
Carl Schulze, P. Geo., Consulting Geologist with Aurora Geosciences Ltd, is a qualified person as defined
by National Instrument 43-101 for Golden Sky’s British Columbia exploration projects, and has reviewed
and approved the technical information in this release.
For new information from the Company's programs, please visit Golden Sky 's website at
www.GoldenSkyMinerals.com or contact John Newell by telephone (604) 568-8807 or by email at
[email protected] or [email protected].
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.
Forward-Looking Statements
Statements contained in this news release that are not historical facts are “forward-looking information”
or “forward -looking statements” (collectively, “Forward -Looking Information”) within the meaning of
applicable Canadian securities legislation. In certain cases, Forward-Looking Information can be identified
by the use of words and phrases such as “anticipates”, “expects”, “understanding”, “has agreed to” or
variations of such words and phrases or statements that certain actions, events or results “would”,
“occur” or “be achieved”. Although Golden Sky has attempted to identify important factors and risks that
could affect Golden Sky and may cause actual actions, events or results to differ materially from those
described in Forward-Looking Information, there may be other factors and risks that cause actions, events
or results not to be as anticipated, estimated or intended, including, without limitation: inherent risks
involved in the exploration and development of mineral properties; the uncertainties in volved in
interpreting drill results and other exploration data; the potential for delays in exploration or development
activities; the geology, grade and continuity of mineral deposits; the possibility that future exploration,
development or mining result s will not be consistent with Golden Sky ’s expectations; accidents,
equipment breakdowns, title and permitting matters; labour disputes or other unanticipated difficulties
with or interruptions in operations; fluctuating metal prices; unanticipated costs and expenses;
uncertainties relating to the availability and costs of financing needed in the future, including to fund any
exploration programs on its projects; that Golden Sky may not be able to confirm historical exploration
results and other risks set forth in Golden Sky's public filings at www.sedar.com. In making the forward -
looking statements in this news release, Golden Sky has applied several material assumptions, including
the assumption that general business and economic conditions will not change in a materially adverse
manner. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual
results and future events could differ materially from those anticipated in such statements. Accordingly,
readers should not pl ace undue reliance on Forward -Looking Information. Except as required by law,
Golden Sky does not assume any obligation to release publicly any revisions to Forward -Looking
Information contained in this news release to reflect events or circumstances after the date hereof or to
reflect the occurrence of unanticipated events.