Goldsky Resources Releases Q2 2026 Financial Results and Corporate Update
Goldsky Resources Releases Q2 2026
Financial Results and Corporate Update
VANCOUVER, BC
,
Aug. 31, 2026
/CNW/ --
Goldsky Resources Corp
(TSXV: GSKR) (FNSE:
GSKR SDB) (OTCQX: GSKRF) (FRA: HEG0) ("
Goldsky Resources
" or the "
Company
")
announces the release of its unaudited condensed consolidated interim financial statements and
management discussion and analysis (the "Financial Statements") for the six months ended June 30,
2026 ("Q2 2026").
During the quarter, the Company continued to advance exploration and development activities across
its expanded Nordic portfolio in Sweden and Finland while maintaining a strong treasury position.
Q2 2026 Highlights:
Cash balance decreased to approximately C$56.4 million as at June 30, 2026 (March 31, 2026:
C$86.1 million) following the cash payment of C$28.5 million for the acquisition of the Barsele
Gold project ("Barsele"), providing the Company with a strong financial position to advance
exploration and development activities across its Nordic portfolio.
Total assets increased to approximately C$430.4 million as at June 30, 2026 (March 31, 2026:
C$180.0 million) following the acquisition of Barsele.
Exploration and evaluation assets also increased to C$371.6 million following the addition of
Barsele, Rajapalot gold-cobalt project and other Finnish assets acquired through the Mawson
transaction.
During the quarter, the Company incurred approximately C$2.3 million in exploration expenditure
across its Nordic project portfolio.
The Company reported a net loss of C$5.5 million for Q2 2026, primarily attributable to
exploration expenditure and management fees incurred during the quarter.
Operational Highlights:
At the Rajapalot gold-cobalt project in northern Finland, the winter exploration program (10,429
meters) was fully completed, with core logging achieving 100% completion on schedule. The
majority of assay results have now been received, with all gold assays returned and multi-
element results pending for the final two holes. The updated resource model has been delivered
to SLR, an independent consulting firm engaged to complete a resource update that will support
an updated Preliminary Economic Assessment (PEA) for the project.
Biodiversity and nature surveys, hydrogeological tests, and four community engagement
meetings were successfully completed to ensure responsible local project development. The
extension permit application and Nature assessment update for the core area (Kairamaat 2-3)
was filed with the Mining Authority.
Following the completion of the Barsele Gold Project acquisition in June 2026, the Company
advanced integration and project planning across the Barsele Project, including preparatory
work for the metallurgical test program on the Central and Avan zones that commenced in
August 2026.
Corporate Highlights:
On April 9, 2026, shareholders approved Agnico Eagle Sweden AB as a "control person" of the
Company in connection with Goldsky becoming the 100% owner of the Barsele Gold Project.
On June 25, 2026, the Company completed the acquisition of the remaining 55% interest in
Gunnarn Mining AB from Agnico Eagle Sweden AB ("Agnico"), for total consideration of
US$20,000,000 in cash (CAD$28,465,700) and 75,509,577 common shares of the Company,
resulting in Goldsky's 100% ownership of the Barsele Gold Project. Agnico retains a perpetual
2% net smelter return royalty on the Barsele Project.
During Q2 2026, the Company received proceeds of approximately C$4.1 million from the
exercise of stock options, compensatory options, and warrants.
The Company continued integration activities relating to the Mawson and the newly acquired
Barsele acquisition.
Subsequent Events:
Goldsky and Ocean Partners entered into a Memorandum of Understanding ("MOU") to
establish a framework cooperation agreement to investigate the technical and economic viability
of recovering cobalt from Goldsky's Rajapalot gold-cobalt Project in Finland and to evaluate
potential commercial arrangements relating to cobalt concentrate production, marketing and
offtake.
On July 23, 2026, the Company held its Annual General Meeting of Shareholders. Shareholders
elected all six director nominees – Peter Breese, Marc Legault, Jeffrey Couch, Russell
Bradford, Noora Ahola and Karilyn Farmer – with approximately 98% support each, reappointed
Davidson & Company LLP, Chartered Professional Accountants, as auditor, and approved a
new Omnibus Equity Incentive Plan with approximately 97% support.
On August 5, 2026, the Company announced the commencement of a metallurgical test
program on 345kg composite samples from the Central and Avan zones of the Barsele Project.
The program, being conducted by Alfred Knight in Truro, United Kingdom over approximately 16
weeks, includes crusher comminution, Bond rod and ball mill, gravity gold recovery, gold leach
kinetics and detoxification testing, and is intended to support the Company's planned Preliminary
Economic Assessment and resource update for Barsele.
Appointment of Gabriella Hammarskjöldas as Environmental Manager of Goldsky Sweden AB,
effective September 1, 2026.
Appointment of Carl Danielsson as Manager of Communications and Public Affairs for Goldsky
Sweden AB, effective October 1, 2026.
After June 30, 2026, 2,601,562 warrants were exercised for proceeds of $4,928,823, 45,080
compensatory options were exercised for proceeds of $66,658, and 88,811 stock options were
exercised for proceeds of $66,749.
Financial Reporting and Additional Notes:
The Company's unaudited condensed consolidated interim financial statements and MD&A for the six
months ended June 30, 2026, are available on SEDAR+ and on the Company's website. The
Unaudited Financial Statements are available on the Company's website
here
.
These statements are based on reasonable estimates and information available as of the reporting
date and may be subject to revision. Actual results may vary from the financial information presented
therein.
About
Goldsky
Resources Corp.
Goldsky Resources is a publicly listed gold exploration company, consolidating assets in Sweden
and Finland. The Company's flagship asset is the 100% owned Barsele gold project in central
Sweden. Barsele is host to an Indicated Mineral Resource of 7.88 Mt grading 1.27 g/t Au containing
320,781 oz Au and an Inferred Mineral Resource: 28.75 Mt grading 1.98 g/t Au containing 1.83 Moz
Au.
Goldsky Resources owns a district-scale license position surrounding Barsele totalling approximately
80,000 hectares on Sweden's Gold Line greenstone belt comprised of two additional projects
(Paubäcken, Storjuktan).
Additionally, in central Finland, Goldsky Resources 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 Resources is also the 100% -owner of the
Rajapalot gold cobalt project situated in northern Finland, which has an Inferred 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
Neil MacRae
SVP, Corporate Development
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:
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https://x.com/goldskyir
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https://www.youtube.com/@goldskyir
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https://www.linkedin.com/company/goldskyir
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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 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. 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 press 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.
SOURCE Goldsky Resources Corp.
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%SEDAR: 00037711E
CO: Goldsky Resources Corp.
CNW 08:30e 31-AUG-26