Golden Sky Minerals Increases Financing
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN
VANCOUVER, British Columbia, June 25, 2021 (GLOBE NEWSWIRE) — Golden Sky Minerals Corp. (AUEN.V) OTC (LCKYF) (the “Company” or “Golden Sky”) is pleased to announce that, subject to TSX Venture Exchange approval, due to overwhelming demand it is increasing the Non Flow-Through portion of their previously announced financing(see June 23, 2021 news release) by up to $252,000 or 600,000 $0.42 NFT Units, each NFT Unit consisting of 1 common share and 1 common share purchase warrant exercisable at $0.60 for 24 months.
The Company intends to use the proceeds from the Private Placement for exploration of the Company’s portfolio of resource properties and for general working capital. Proceeds from the Private Placement will be used for a 2000-metre diamond drill program at Golden Sky’s British Columbia flagship Rayfield Copper-Gold Project, located in the Quesnel Trough, British Columbia. In addition, proceeds will be used to further advance the Company’s Hotspot Property in the Yukon Territory and for general working capital. The Company expects that the drill program at Hotspot will commence on or around August 1st, 2021, and a year-round exploration program at Rayfield will commence sometime in June 2021.
About Golden Sky Minerals Corp.
Golden Sky Minerals Corp. is a well-funded junior grassroots explorer focused on the discovery of new precious metal and copper projects through systematic exploration in metal endowed terranes, located in tier-one mining jurisdictions. Golden Sky’s focus is to develop their portfolio of projects to resource stage. Currently, the company has three drill ready projects in the Yukon; this includes the Hotspot, Bullseye, and Luckystrike properties. In addition, the recent property purchase of the Rayfield Copper-Gold Project in southern British Columbia adds to the company’s substantial early-stage project pipeline in Canada.
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 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.
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 involved 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 results 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 place 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.