Golden Sky Minerals Corp. Receives Shareholder and Court Approvals to Plan of Arrangement

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

TSX-V: AUEN

GOLDEN SKY MINERALS CORP. RECEIVES SHAREHOLDER AND COURT APPROVALS TO PLAN OF

ARRANGEMENT

Vancouver, B.C. March 17, 2023 – Golden Sky Minerals Corp. (AUEN.V) (the “Company” or “Golden Sky”) is

pleased to announce that further to its news release dated December 15, 2022, at its annual general and special

meeting of shareholders held on January 26, 2023, it received shareholder approval to the previously

announced plan of arrangement (the “ Arrangement”), pursuant to which Golden Sky will transfer the

Bullseye, Argo, and Eagle Mountain exploration properties and $355,000 in cash to its wholly -owned

subsidiary, Thunderbird Minerals Corp . (“Thunderbird”) in exchange for Thunderbird issuing shares to the

shareholders of Golden Sky. More specific information about the Arrangement can be found in the Company’s

management information circular dated December 19, 2022 (the “Circular”), filed under the Company’s profile on

www.sedar.com.

In addition, Golden Sky is pleased to announce that on January 30, 2023, it obtained a final order from the

Supreme Court of British Columbia to the implementation of the Arrangement.

Under the terms of the Arrangement, shareholders of Golden Sky are entitled to receive 0.5 of one common

share of Thunderbird (“Thunderbird Share”) for every one Golden Sky share (“ Golden Sky Share”) held. It

is expected that the effective date of the Arrangement will be March 17, 2023. After the effective date of

the Arrangement, each issued and outstanding Golden Sky common share purchase warrant (“ Golden Sky

Warrant”) will entitle the holder to receive, upon due exercise of the Golden Sky Warrant, for the original

exercise price, one Golden Sky Share that was issuable upon exercise of the Golden Sky Warrant

immediately prior to the effective date, and 0.50 of one Thunderbird Share for each Golden Sky Share. Each

holder of a Golden Sky incentive stock option (“Golden Sky Option”) has agreed to waive any right to receive

Thunderbird Shares in addition to the Golden Sky Shares to which each option holder was entitled to receive

upon exercise of the holder’s Golden Sky Option.

The existing common shares of the Company are expected to be delisted from the TSX Venture Exchange

(the "TSXV") at the close of business on March 20, 2023. The Golden Sky Shares are expected to commence

trading on the TSXV at the market open on March 21, 2023. The CUSIP numbers of the Golden Sky Shares

and the Thunderbird Shares are 381186105 and 88605R104, respectively.

Letters of transmittal have been mailed to registered holders of common shares of Golden Sky, which must

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be completed and returned to Computershare together with the Golden Sky share certificate at the address

specified in the letter of transmittal, in ord er for Company shareholders to receive Golden Sky Shares and

Thunderbird Shares following the effective date of the Arrangement (as that term is defined in the Circular).

A copy of the letter of transmittal is also available under the Company's profile on SEDAR at www.sedar.com.

Computershare Investor Services Inc. (" Computershare") will forward a replacement share certificate or

electronic statement to each registered Company shareholder that is entitled to receive them, representing

their allotted number of Golden Sky Shares and Thunderbird Shares in accordance with the Arrangement.

For further details of the Arrangement, please refer to the Company's Circular, which is filed on SEDAR under

the Company's profile.

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 projects to the mineral resource

stage through systematic exploration.

The drill-ready projects include Hotspot, Bullseye, and Lucky Strike, all in Yukon, Canada. In addition, the

recent purchases of the Rayfield Copper-Gold Project in southern British Columbia, and the staking of the

Eagle Mountain Gold Project in the Cassiar Gold District in northern British Columbia, add to the

company’s substantial early-stage Canadian project pipeline.

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.

ON BEHALF OF THE BOARD

John Newell, President and Chief Executive Officer

For new informa tion 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.