Goldsky Resources Closes Barsele Gold Project transaction and consolidates 100% ownership
Goldsky Resources Closes Barsele Gold Project transaction and consolidates 100% ownership |
| [25-June-2026] |
VANCOUVER, BC, June 25, 2026 /CNW/ - Goldsky Resources Corp (TSXV: GSKR) (FNSE: GSKR SDB) (OTCQX: GSKRF) (FRA: HEG0) ("Goldsky Resources" or the "Company") is pleased to announce today it has closed the previously announced acquisition of the remaining 55% interest in the Barsele Gold Project ("Barsele") in Sweden (the "Transaction"), resulting in Goldsky consolidating 100% ownership of Barsele.
"We are very pleased to complete this transformational Barsele transaction, marking an exciting new chapter for Goldsky. We now look forward to advancing what is expected to be one of the largest drilling campaigns ever undertaken across the Barsele licence. I would also like to welcome the Sweden-based team joining Goldsky as part of the transaction, whose expertise and knowledge of the extensive exploration and environmental work completed to date will be invaluable as we move forward.", said Russell Bradford CEO. The Transaction was completed pursuant to a share purchase agreement dated January 28, 2026 (the "Agreement") between Goldsky Resources and Agnico Eagle Sweden AB ("Agnico Sweden"), a wholly-owned subsidiary of Agnico Eagle Mines Limited ("Agnico Eagle"), pursuant to which Goldsky Resources acquired Agnico Sweden's 55% interest in Gunnarn Mining AB ("Gunnarn"). Consideration for the Transaction included a cash payment of US$20,000,000, the issuance of 75,509,577 common shares of the Company (the "Consideration Shares") to Agnico Eagle (indirectly through Agnico Sweden) and the grant of a 2% net smelter return royalty on Barsele to Agnico Sweden. The Company has also assumed Agnico Eagle's obligations under an existing 2% net smelter return royalty on Barsele in favour of Orex Minerals Inc. Please see the Company's news release dated January 28, 2026, for further details on the Transaction. In connection with closing of the Transaction, Goldsky Resources and Agnico Eagle entered into an investor rights agreement providing Agnico Eagle with certain participation, top-up and board nomination rights, as well as demand and piggy-back registration rights, all on customary terms. Agnico Eagle has advised the Company that it does not intend to exercise its board nomination rights at this time. As announced on April 9, 2026, the Company received disinterested shareholder approval for the creation of Agnico Eagle as a Control Person (as such term is defined under the policies of the TSX Venture Exchange (the "TSXV") of the Company. The Transaction was completed on an arm's length basis and has received final approval of the TSXV. Barsele is comprised of certain exploration and exploitation permits, all of which are in good standing. Certain exploration permits are approaching their expiry date, however the permits may be renewed so long as the Company is able to demonstrate that extensive exploration work has been carried out on Barsele and the Company intends to complete a substantial exploration program such that Barsele has advanced to a stage where further exploration work may lead to a mining operation. Such permits are typically renewed in the normal course and Goldsky is confident that the conditions will be met to grant a permit extension and that such permits will be extended. Goldsky Resources paid Nuvolari Capital Limited, an arm's length party, a finder's fee in connection with completion of the Transaction, equal to 3% of the aggregate value of the cash consideration and Consideration Shares paid and issued under the Transaction, with an aggregate value of approximately C$6,797,559. The finder's fee was satisfied by way of issuance of 2,574,833 common shares of the Company (the "Nuvolari Shares") based on a deemed price of C$2.64 per Nuvolari Share, which is equal to the 20-day VWAP of the Goldsky Resources shares immediately prior to announcement of the Transaction. In addition, further to the Company's news release dated September 15, 2025, Goldsky will issue 468,550 common shares of the Company (the "Bradford Shares") at a deemed price of C$3.20 per Bradford Share to Mr. Bradford, CEO of the Company, in connection with the satisfaction of certain conditions set out in his employment agreement. The Consideration Shares, Nuvolari Shares and Bradford Shares are or will be, as applicable, subject to a four month hold period from their date of issue pursuant to applicable Canadian securities laws and the policies of the TSXV. The issuance of the Bradford Shares remains subject to the approval of the TSXV. Certified Adviser Augment Partners AB is the Company's Certified Adviser on Nasdaq First North Growth Market. Qualified Persons The technical and scientific information in this news release relating to Goldsky Resources' was reviewed, verified and approved by Benjamin Gelber, a practicing Professional Geologist (P.Geo) registered with Engineers & Geoscientists British Columbia (EGBC, Licence No. 33258), former VP Exploration of Lithium Africa Resources Corporation, and former VP Exploration and Chief Technical Advisor of Goldsky Resources, is a Qualified Person as defined in NI 43-101 and has reviewed and approved the scientific and technical information within this news release. Benjamin Gelber is a consultant of Goldsky Resources and considered independent of Goldsky Resources under NI 43-101. 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 0.32 oz Moz 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.). This information was submitted for publication, through the agency of the contact person set out above, on June 25, 2026, at 9:30 a.m. Eastern Time. ON BEHALF OF THE BOARD OF DIRECTORS Russell Bradford, For further information contact: Tavistock PR (media contact) Follow Goldsky Resources: 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 information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes statements that relate to future events or future performance and are often, but not always, identified by words such as "anticipate", "expect", "intend", "plan", "estimate", "believe", "potential", "may", "will", "should", "could", or similar expressions. All statements, other than statements of historical fact, included herein, including, without limitation, statements regarding Agnico Eagle's expected provision of transition services; statements regarding the anticipated benefits of the Transaction, the potential of Barsele, the terms of the NSR and the re-purchase rights thereof, the Company's exploration plan at Barsele, including the expectations for the Company's upcoming drill campaign, the Company's growth prospects and strategic objectives, the renewal of the Barsele exploration and exploitation permits, and any other statements regarding future plans, expectations, estimates, assumptions or projections, constitute forward-looking information. Although Goldsky Resources believes that the expectations reflected in such forward-looking statements and/or information are reasonable, undue reliance should not be placed on forward-looking statements since the Company can give no assurance that such expectations will prove to be correct. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements, including the risks, uncertainties and other factors identified in the Company's periodic filings with Canadian securities regulators, and assumptions made with regard to: availability of financing; assumptions regarding commodity prices, exploration success, costs, and general business and economic conditions. Forward-looking statements are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the forward-looking statements. Important factors that could cause actual results to differ materially from the Company's expectations include risks that the Transaction may not provide the anticipated benefits; risks associated with the business of Goldsky Resources; risks related to exploration and potential development of Barsele; business and economic conditions in the mining industry generally; fluctuations in commodity prices and currency exchange rates; uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; the need for cooperation of government agencies and indigenous groups in the exploration and development of Barsele and the issuance of required permits; the need to obtain additional financing to develop Barsele and uncertainty as to the availability and terms of future financing; the possibility of delay in exploration or development programs and uncertainty of meeting anticipated program milestones; uncertainty as to timely availability of permits and other governmental approvals; and other risk factors as identified in Goldsky Resources' filings with Canadian securities regulators on SEDAR+ (available at www.sedarplus.ca). Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to Goldsky Resources. The forward-looking information contained in this news release is made as of the date hereof and Goldsky Resources does not undertake any obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws or Nasdaq First North Growth Market Rulebook for Issuers of Shares. The foregoing statements expressly qualify any forward-looking information contained herein. SOURCE Goldsky Resources Corp. | ||
Company Codes: TorontoVE:FNM,OTC-PINK:FNMCF,Berlin:HEG0,Frankfurt:HEG0,NASDAQ:GSKRSDB,OTC-BB:FNMCF,OTC-BB:GSKRF,OTC-PINK:GSKRF,OTC-QX:GSKRF,TorontoVE:GSKR |
