Return grade of a 286 g/t gold (Au), 200 g/t silver (Ag), and 37.46% copper rock sample from the Mowich Zone at the Rayfield Property, British Columbia.

VANCOUVER, British Columbia, September 27, 2022 (GLOBE NEWSWIRE) — Golden Sky Minerals Corporation (AUEN.V) (the “Company” or “Golden Sky”) is pleased to provide an update on the exploration of the Mowich Zone of the Layfield copper and gold properties. Fieldwork completed in 2022 will use copper-rich float materials (sub-mm to >5 cm in size) recovered from the bottom of the slump to find historic shows (known as discovery shows). I succeeded. Of the mineralized fragments, sample D00226854 (Figure 1) returned grades of 286 g/t gold (Au), 200 g/t silver (Ag), and 37.46% copper (Cu). (table 1). Golden Sky geologists interpret these high-grade values ​​to be related to proximal intrusions due to their close correlation with bismuth (Bi). His QEMSCAN study at his BaseMet Labs in Kamloops also confirmed that the primary host is highly altered and serpentinized mafic volcanic rocks. These high-grade values ​​may have been enhanced by weathering processes, but remain strong indicators of the high-grade mineral potential of the region.

Figure 1: High-grade copper and gold fragments collected from Discovery’s slump within the Mowich Zone.

Table 1: Precious and base metal values ​​obtained from samples collected throughout the Mowich region. Note the high bismuth values ​​associated with premium materials.

sample	Money (grams/tonnes)	copper (ppm)	copper (%)	Silver (ppm)	Bismuth (ppm)	sample type	position
D00226851	<5	12.2	–	<2	<5	float	discovery show
D00226852	Five	30.8	–	<2	<5	float	discovery show
D00226853	<5	452	–	<2	<5	float	discovery show
D00226854	286	>10000	37.46	200	36	float	discovery show
D00226855	1.8	>10000	10.33	55	9	float	discovery show
D00226856	0.3	282	–	2	<5	float	uphill area
D00226857	0.08	6970	0.69	Four	<5	float	discovery show
D00226858	0.013	351	–	<2	<5	float	uphill area
D00226859	<5	37.5	–	<2	<5	outcrop	uphill area

Tracking the uphill slope of the slump identified additional serpentinized debris and found a phoscoenitic intrusive plug exposed on an outcrop at the valley head. This intrusion contains quartz calcite veins with traces of malachite and chalcopyrite, showing a texture similar to some of the copper fragments shown in Discovery. The intrusion is surrounded by crustal-like altered basalts, typically close to the conglomerates and sandstones of the Ashcroft Formation bordering the major northwest-trending faults of the region.

One kilometer southeast of the Discovery Show is another historic show (Lake Mowich Copper Show – Pending Assay). Mapping in September 2022 identified a large patch of rich rock containing copper-rich Triassic basalt. The main minerals are azurite, malachite, and chrysocolla, with a high content of hyalyte, a type of opaline silica. The Golden Sky geology team interprets that these minerals may provide further evidence of a northwest-trending structure that served as a conduit for copper-rich hydrothermal fluids.

Fieldwork in September 2022 will be followed by the addition of approximately 6,400 ha, providing several interpreted northwest-trending structures and geophysics that may be responsible for both the discovery and the copper indication of Lake Mowich. covered magnetic anomalies (Fig. 3). Significant magnetic anomalies flank these major northwest-trending faults that may have concentrated magmatic activity in the region. Importantly, a past-generated placer creek (Criss Creek) traverses the southeastern edge of the mapped unit of mineralized diorite/monzodiorite. Gold is a coarse particle and therefore has not traveled far downstream, so it may be a proximal source. It has been hypothesized that mapped diorite/monzodiorite may be the source of this gold.

The approximately 30,000-hectare Rayfield project is located in the Kennel Trough, a major copper belt in British Columbia and includes Tech Resources’ Highland Valley Mine, Imperial Metals’ Mount Polley Mine, Centara Gold’s Mount Milligan Mine, and Kodiak Copper’s MPD project (see Figure 4). The Layfield copper and gold project is located approximately 20 kilometers east of the town of 70 Mile House in British Columbia and is accessible year-round by well-maintained service roads and logging roads leading off BC Highway 97. .

John Newell, President and CEO of Golden Sky Minerals, said:

Rayfield has tripled in size since first staking the area 18 months ago. Now he covers over 30,000 hectares and may host 4-5 solid copper-gold porphyry targets. All of these natural goals will be further worked on over the next few months towards our first training campaign.

Porphyry deposits are a major source of copper, accounting for about 65% of the world’s production, and a significant number of valuable metals (including gold) as by-products. Managers of Golden Sky Minerals have long believed there is a tremendous need for discovery as mining depletes reserves. These depleted reserves must be replaced through discovery and development. Major mining companies know they need to replace what they extract in order to sustain their wealth. This can be done by discovering or purchasing resources discovered by exploration companies like Golden Sky Minerals Corp.

The management of Golden Sky Minerals Corporation, along with the geology team, continuously and carefully evaluates many land packages in today’s favorable environment for the purpose of exploring and developing additional targets such as the Rayfield Project. I’m here. ”

Figure 2: All target zone locations outlined in the Rayfield property. Also outlined are high-grade copper-gold analyzes from the Mowich zone. Claims have been extended around Mowich to cover the interpreted structure and geophysical magnetic anomalies.

Figure 3: The newly extended Mowich Zone claims to cover potential intrusive diorite/monzodiorite and geophysical magnetic anomalies. The high-grade results from the Discovery Show are strong indicators of the mineral potential of the region.

Figure 4: Rayfield copper-gold project in relation to the Kennel Trough major project.

About Golden Sky Minerals Corporation

Golden Sky Minerals Corp. is a well-funded grassroots explorer involved in the acquisition, evaluation, exploration and development of mineral properties in highly prospective areas and mining areas. Golden Sky’s mission is to develop a portfolio of projects to the mineral resource stage through systematic exploration.

Drill-enabled projects include Hotspot, Bullseye, and Lucky Strike in the Yukon, Canada. Additionally, the recent purchase of the Rayfield Copper-Gold Project in southern British Columbia and the staking of the Eagle Mountain Gold Project in the Cassiar Gold District of northern British Columbia add to the company’s substantial early-stage Canadian project pipeline. it was done.

The company was incorporated in 2018 and is headquartered in Vancouver, British Columbia, Canada.

For more information, please visit our website www.goldenskyminerals.com.

on behalf of The board

John Newell, President and Chief Executive Officer

Carl Schulze, P. Geo., Consulting Geologist, Aurora Geosciences Ltd, is a Qualified Person as defined by National Instrument 43-101 for Golden Sky’s British Columbia Exploration Project and has reviewed the technical information in this release. and approved.

For new information about our programs, visit Golden Sky’s website at www.GoldenSkyMinerals.com or contact John Newell at (604) 568-8807 or email. [email protected] Also [email protected].

Neither TSX Venture Exchange nor its regulated service providers (as those terms are defined in the TSX Venture Exchange Policy) are responsible 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” within the meaning of applicable Canadian securities laws (collectively, “forward-looking information”). is. In some cases, forward-looking information may include the use of words or phrases such as “expect,” “anticipate,” “understand,” “agree,” or variations of such words or phrases, or specific actions. , an event or result “becomes”, “occurs”, or “achieves”. Golden Sky has attempted to identify the material factors and risks that may affect Golden Sky, and actual actions, events or results may not materially differ from those set forth in the forward-looking information. Actions, events or failure to predict, estimate or intend, as may vary; This includes but is not limited to: Inherent risks associated with exploration and development of mineral properties. Uncertainties associated with interpretation of drilling results and other exploration data. potential delays in exploration or development activities; Geology, grade and continuity of deposits. Future exploration, development or mining results may not match Golden Sky’s expectations. Accidents, Equipment Failure, Ownership and Permissions. Labor disputes or other unforeseen difficulties or disruption of business. fluctuating metal prices; unexpected costs and expenses; uncertainty regarding the availability and cost of future funding requirements, including funding the project’s exploration program; Golden Sky may not be able to confirm past exploration results or other risks described in Golden Sky’s public documents located at www.sedar.com. Golden Sky makes several important assumptions in making forward-looking statements in this news release, including the assumption that general business and economic conditions will not change materially adversely. increase. There can be no assurance that any forward-looking information will prove to be accurate, as actual results or future events could differ materially from those projected in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Golden Sky undertakes no obligation to publicly release any revisions to the forward-looking information contained in this news release, except as required by law. This is to reflect events or circumstances after the date of this news release, or to reflect the occurrence of unanticipated events.

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