Goldsky Resources -2026 Drilling Program Commences at Rajapalot Gold Project, Finland
Ul
GOLDSKY
Goldsky Resources -2026 Drilling Program
Commences at Rajapalot Gold Project, Finland
VANCOUVER, BC, Feb. 3, 2026 /CNWV/ - Goldsky Resources Corp (TSXV: GSKR) (FNSE: GSKR
SDB) (OTCQX: GSKRF) (FRA: HEGO) ("Goldsky Resources" or the "Company") is pleased to
announce the commencement of the 2026 winter drilling season at its 100% owned Rajapalot
property in Northern Finland.
HIGHLIGHTS
e Four diamond drill-rigs have been mobilized to site over the past weeks and have begun a
10,000 meter drilling program at Rajapalot
e Approximately 8,000 meters will focus on infill drilling at the Raja and Palokas deposits, aimed
at increasing confidence in the existing Inferred Resources and supporting progression from
exploration licenses to mining licenses under Finnish regulations (Figure 1)
e A'‘'target-test' drill program of approximately 2,000 meters is planned to drill-test several
compelling high-priority exploration targets in the immediate vicinity to the current Rajapalot
resource areas in order to support potential resource growth (refer to Figure 1)
Russell Bradford, CEO of Goldsky Resources, comments: "We are very excited to demonstrate
our continued commitment to the Rajapalot Project under the new management of Goldsky by way
of assigning a significant 10,000 meter drilling program that will support important long-term
objectives for the project. Our commitment to upgrading some important areas of the currently
defined mineral resource is a major step-forward for the project, which will enable us to forge
ahead with our permitting advancement at Rajapalot. Similarly, further ‘target-test' exploration
drilling at the project, if successful, will only serve to strengthen the underlying fundamental of the
project by way of increasing the gold-cobalt resource-base at Rajapalot. This is our first major
exploration program under the new banner of Goldsky Resources Corporation, and an exciting first
step in our new Nordic-focused gold development and exploration company."
THE RAJAPALOT DEPOSIT
At Rajapalot, mineralization is regarded as orogenic in nature. All examples of gold-cobalt
mineralization are consistently located within highly-sheared and foliated wall-rocks adjacent to
strongly hydrothermally altered, northwest to north dipping shear-zones. Mineralization is typically
encountered as disseminated to semi-massive sulfide lenses (predominantly pyrrhotite and lesser
pyrite and cobaltite), hosted within strongly deformed and altered, mafic volcanic and volcaniclasitic
stratigraphy of the upper portions of the Paleoproterozoic-aged Kivalo Group of the Perapohja
Greenstone Belt. Prospects with high-grade gold and cobalt mineralization at Rajapalot occur across
a 3 km (east-west) by 2 km (north-south) area within the larger Rajapalot project area measuring 4
km by 4 km with multiple mineralized boulders, base-of-till (BOT). Gold-Cobalt mineralization at
Rajapalot has been drilled to over 640 meters below surface at both South Palokas and Raja
prospects, and mineralization remains open at depth across the entire project.
Rajapalot Mineral Resource
An Inferred Mineral Resource ("MRE") has been calculated for the Rajapalot project (effective date
August 26, 2021), and is based on an ‘underground only' mining scenario containing 9.8 million
tonnes @ 2.8 g/t gold ("Au") and 441 ppm Co, equating to 867 thousand ounces ("koz") gold and
4,311 tonnes of cobalt.
Zone Cut-off Tonnes Au Co Au Co
(AuEq") (kt) (g/t) (ppm) (koz) (tonnes)
Palokas 11 5612 28 475 501 2,664
Raja 11 2,702 3.1 385 271 = 1,040
East Joki 11 299 45 3683 43 109
Hut 11 831 13 428 36 355
Rumejarvi 11 336 14 424 15 142
Total Inferred Resources 9,780 28 44 867 4,311
Rajapalot Inferred Mineral Resource Effective August 26, 2021
e The independent geologist and Qualified Person as defined in NI 43-101 for the mineral
resource estimates is Mr. Ove Klavér (EurGeol). The effective date of the MRE remains
unchanged to the Previous MRE (August 26, 2021, available on SEDAR as filed by the previous
owner, Mawson), and will be restated in the PEA technical report when it is filed.
e The mineral estimate is reported for a potential underground only scenario. Inferred resources
were reported at a cut-off grade of 1.1 g/t (AUEq! Au g/t + Co ppm /1005) with a depth of 20
meters below the base of solid rock regarded as the near-surface limit of potential mining.
e Wireframe models were generated using gold and cobalt shells separately. Forty-eight
separate gold and cobalt wireframes were constructed in Leapfrog Geo and grade distributions
independently estimated using Ordinary Kriging in Leapfrog Edge. A gold top cut of 50 g/t Au
was used for the gold domains. A cobalt top cut was not applied.
e A parent block size of 12 mx 12 mx 4 m (>20% of the drillhole spacing) was determined as
suitable. Sub-blocking down to 4 m x 4 m x 0.5 m was used for geologic control on volumes,
thinner and moderately dipping wireframes.
e Rounding of grades and tonnes may introduce apparent errors in averages and contained
metals.
e Drilling results to 20 June 2021.
e Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability.
QUALIFIED PERSON
The technical and scientific information in this news release was reviewed, verified and approved by
Dr. Thomas Fromhold, an employee of Fromhold Geoconsult AB, and Member of The Australian
Institute of Geosciences (MAIG, Membership No. 8838). Dr. Fromhold is a "qualified person" as
defined under NI 43-101. Dr. Fromhold is not considered independent of the Company under NI 43-
101 as he is a consultant of the Company.
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 in which it has entered into an agreement with its partner,
Agnico Eagle, to become the 100% owner. Immediately surrounding the Barsele project, the
Company is 100%-owner of a district-scale license position comprised of two additional projects
(Paubacken, Storjuktan), which combined with Barsele, total approximately 80,000 hectares on the
Gold Line greenstone belt. In Finland, the Company also holds a 100% interest in the Rajapalot
Gold-Cobalt Project and a district-scale position covering the Oijarvi greenstone belt, including the
Kylmakangas Gold-Silver deposit. The Rajapalot Project represents approximately 5% of the larger
600-square kilometer-sized Rompas-Rajapalot Property, which is wholly owned by Goldsky and
consists of 13 granted exploration permits for a total of 11,262 hectares. The Rompas-Rajapalot
Property operations are carried out through the Company's fully owned subsidiary, Mawson Oy.
Mawson maintains an active local presence of Finnish staff with close ties to the communities of
Rajapalot.
ON BEHALF OF THE BOARD OF DIRECTORS
Russell Bradford,
CEO & Director
For further information contact:
Investor Relations
Neil MacRae
SVP, Corporate Development
Tavistock PR (media contact)
Jos Simson/Saskia Sizen
The Company's certified adviser on the Nasdaq First North Growth Market is Augment Partners AB,
[email protected], +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 the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
news release.
Forward-Looking Statements
This news release contains forward-looking statements that reflect the Company's intentions,
beliefs, or current expectations about and targets for the Company's and the group's future results
of operations, financial condition, liquidity, performance, prospects, anticipated growth, strategies
and opportunities and the markets in which the Company and the group operates and includes,
statements with respect to (i) the NBU Acquisition, (ii) issuance of Shares thereunder, and (iii)
receipt of TSXV approval of the NBU Acquisition. Forward-looking statements are statements that
are not historical facts and may be identified by words such as "believe", "expect", "anticipate",
"intend", "may", "plan", "estimate", "will", "should", "could", "aim" or "might", or, in each case, their
negative, or similar expressions. The forward-looking statements in this news release are based
upon various assumptions, many of which are based, in turn, upon further assumptions. Although the
Company believes that the expectations reflected in these forward-looking statements are
reasonable, it can give no assurance that they will materialize or that the assumptions on which it is
based are correct. Because these statements are based on assumptions or estimates and are
subject to risks and uncertainties, the actual results or outcome could differ materially from those set
out in the forward-looking statements as a result of many factors. Such risks, uncertainties,
contingencies, and other important factors could cause actual events to differ materially from the
expectations expressed or implied in this release by such forward-looking statements. The Company
does not guarantee that the assumptions underlying the forward-looking statements in this news
release are free from errors and readers of this news release should not place undue reliance on the
forward-looking statements in this news release. The information, opinions and forward-looking
statements that are expressly or implicitly contained herein speak only as of the date of this news
release and are subject to change without notice. Neither the Company nor anyone else undertake
to review, update, confirm or to release publicly any revisions to any forward-looking statements to
reflect events that occur or circumstances that arise in relation to the content of this news release,
unless it is required by law or Nasdaq First North Growth Market Rulebook for Issuers of Shares.
APPENDIX
Figure 1. Map of the Rajapalot project illustrating areas of drilling focus in the upcoming 2026 winter
drilling campaign. In total, 8,000 meters of infill drilling split across the Palokas (5,000 meters) and
Raja (3,000 meters) Au-Co deposits, while approximately 2,000 meters will be allocated to ‘target-
test’ priorities. (CNW Group/Goldsky Resources Corp.)
+ Ciecoreny of a mew pone of Meir grate
mminenmination, Wow Lens”
Figure 2. Map of the Rajapalot project illustrating significant Au-Co drilling intercepts from the
previous 2024 and 2025 drilling programs by Mawson Finland Limited. (CNW Group/Goldsky
Resources Corp.)
Figure 3. One of two Comadev Oy diamond drill-rigs now on-site at Rajapalot. (CNW
Group/Goldsky Resources Corp.)
SOURCE Goldsky Resources Corp.
¢ View original content to download multimedia:
http://www.newswire.ca/en/releases/archive/February2026/03/c4621.html
%SEDAR: 00037711E
CO: Goldsky Resources Corp.
CNW 07:30e 03-FEB-26